Strategy and performance
Day trading
Opening and closing positions within the same session, carrying nothing overnight. It avoids swap costs and weekend gap risk, and concentrates all of the account's risk into the daily loss limit.
GFN’s figure
Day trading is allowed on every GFN programme. The daily loss limit is the constraint: $3,000 on a $100,000 Instant account, $5,000 on the 1 Step and 2 Step.
In detail
Day trading,explained
For a prop account the day-trading profile is the one the rules are designed around: the daily loss limit is the binding constraint, and the maximum drawdown only matters across a run of bad days.
The discipline that matters most is stopping. A daily allowance spent by lunchtime is a finished day, and the accounts that survive are the ones that treat it that way.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Swing trading
Holding positions for days or weeks to capture a larger move. It requires wider stops, which means smaller positions, and it exposes the account to overnight swap and weekend gaps.
Scalping
Taking many short-duration trades for small individual gains. It depends on tight costs and reliable execution, because the spread and commission are a large share of every result.
Daily loss limit
The most an account may lose in one trading day before it breaches. Calculated as a percentage of the previous day's closing level, it resets at a fixed time each day and is the rule that ends most evaluations.
Position size
How many lots a trade is placed in. It is calculated from the dollar amount being risked and the stop distance, not chosen first - which is the reverse of how most traders approach it.
Session overlap
The hours when two trading sessions are open at once. The London-New York overlap, roughly 13:00 to 16:30 UK time, carries the highest volume and the tightest spreads of the day.
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