Breakdown of Gauntlet Mini funded trader program
The virtual balance is roughly the amount you need in a real trading account to trade the maximum allowed contract size comfortably. Two key numbers are profit goal and Drawdown.
Gauntlet Drawdown Rules:
To help traders work on developing discipline and not take risks that can jeopardize their whole account on a single bad trader they have:
Daily Drawdown - the maximum amount of money trader can lose in a single trading day
EOD and Total Drawdown:
Amount of money that if lost, trading exam will no longer be eligible to receive funding and will have to reset the Gauntlet or start a new one to have a chance at funding.
EOD - End of Day Drawdown - Massive upgrade for the program. The Drawdown does not trail with the open P&L and only trails up at the end of the day. Live Drawdown is very common in trader funding programs and almost always a big disadvantage to the trader. Let's compare both drawdown scenarios: