In our Express model, there is a single phase to complete.

Here are the key guidelines for the Express model:

During the trading period, traders must avoid reaching the maximum daily drawdown of 4% equity at any point, and this drawdown is based on the starting day's balance or equity, whichever is higher. Additionally, traders should not exceed the maximum relative drawdown of 6% from the starting balance of the account. These parameters help maintain risk management and account stability throughout the trading phase.

**Closed Profits Example:**

For a $100,000 account, the maximum allowable daily loss is 4% ($4,000) and an overall limit of 6% ($6,000). If you start with a balance of $100,000 and earn $4,500 during the day, your new balance becomes $104,500. The updated daily stop out limit would be $100,500 (initial balance of $100,000 minus the 4% daily drawdown of $4,000) and an overall limit of $98,500.

Throughout the trading period, it's essential not to exceed the maximum daily drawdown of 4% equity based on the starting day's balance or equity (whichever is higher). Additionally, it's crucial to avoid surpassing the maximum relative drawdown of 6% from the initial balance of the account.

Here's how the daily drawdown is calculated:

- The daily drawdown is 4% of the initial balance of the account at all times.

**Floating Profit Example:**

If your starting equity is $103,000, but your starting balance is $100,000, the daily drawdown will be based on your starting equity because it is the higher of the two. So, the daily drawdown would be 4% x $103,000 = $4,120. Your account balance/equity cannot fall below $98,880 for the day.

Conversely, if your starting equity is $95,000, but your starting balance is $97,000, the daily drawdown will be based on your starting balance because it is the higher value. Thus, the daily drawdown would be 4% x $97,000 = $3,880. Your account balance/equity cannot drop below $93,120 for the day.