Basic market data, including real-time bid/ask prices and trade volume.
Essential for executing trades effectively, Level 1 data provides traders with the real-time prices needed for placing market and limit orders.
A trader sees the current bid price for ES futures at 4,500.25 and the ask price at 4,500.50, helping them decide whether to enter at market or place a limit order.
The number of phases a trader must complete to qualify for a funded account. Each phase typically includes meeting profit targets while adhering to risk rules.
The initial amount of capital allocated to a trading account in an evaluation or funded account.
The specific profit amount a trader must achieve to pass an evaluation or progress to a higher account level.
The maximum amount a trader is allowed to lose in a single trading day. Exceeding this limit typically disqualifies the trader. There are different types of loss limits, so it is important to understand the type that applies to a chosen plan.
The maximum permissible loss from the starting balance or peak balance. Breaching the drawdown limit ends the evaluation or funded account.