This is NOT a risk rule. For example, If you set your Stop Loss at -1.5% on the 2-Step Funded account and you hit your Stop Loss for -1.5%, this will NOT trigger the Drawdown Protector as the trades were closed by Stop Loss not the Drawdown Protector.
Evercrest Drawdown Protector applies to Funded Accounts only & triggers after around 10 seconds of the total PnL sitting at the below losses:
Drawdown Protector Floating Loss Limits:
Instant Funding Standard: -1%
Instant Funding Static: -1%
1-Step Standard Funded Stage: -1.5%
1-Step Plus Funded Stage: -1.5%
2-Step Funded Stage: -1.5%
This is considered a soft breach for the 1st time the drawdown protector triggers, meaning you can continue trading immediately with no additional restrictions.
Example:
If you have a $100,000 1-Step Standard, 1-Step Plus or 2-Step Funded account with open positions and your combined open PnL reaches -$1,500 (-1.5%), Evercrest Drawdown Protector will automatically close all open trades to prevent further drawdown. You may then continue trading as normal.
The 1st time the drawdown protector is triggered your pay out split will drop to 50%.
The 2nd time the drawdown protector is triggered will result in a hard breach & a forfeit of your account.