James

James Glyde

CEO
James is the CEO of PipFarm. With over a decade of experience in the online trading industry, he is one of the most experienced CEO's of trader funding platforms.

Introduction

Welcome to the PipFarm funded trader program. To participate in our program, we provide the cTrader platform as the primary trading interface and a dashboard to monitor compliance with our risk management rules and trading targets.

This guide explains the metrics shown in the PipFarm dashboard. Our vision was to provide our funded traders and screening test participants with a streamlined dashboard strictly focusing on the key performance indicators and to let cTrader do the rest of the heavy lifting. Learn more about the incredible features of cTrader in our complete cTrader guide.

Dashboard layout

The dashboard is divided into cards, each containing related metrics. The metrics are not updated in real-time, meaning you should refresh the browser to get the latest values.

The first card displayed in the dashboard shows your current profit percentage, trading account number and starting balance. Here, you have a handy button to launch the cTrader Web platform.

Hero card

Rules

The dashboard helps you track the two most important risk management rules: trailing loss and daily loss.

Loss statistics cards

Max trailing loss rules

The max trailing loss card shows your compliance with the max trailing loss rule.

Max trailing loss (%): The max trailing loss percentage shows how close your account is to reaching the 8% max trailing loss limit. If your equity is greater than or equal to the high watermark (WHM), this value will be 0%. However, if your equity is below the WHM, your account has a trailing loss. Suppose your WHM is $11,000, and your equity is $10,780; your max trailing loss is 2%.

Equity limit: If your account equity reaches the equity limit, you will break the max trailing loss rule. The equity limit is always 8% of the WHM. Therefore, if your starting balance is $10,000, your max loss equity limit is $9,200.

Daily loss rule

The max trailing loss card shows your compliance with the daily loss rule.

Daily loss (%): The daily loss card shows how close your account is to reaching the 4% daily loss limit. If your equity is greater than or equal to the previous end-of-day (EOD) balance, this value will be 0%. However, if your equity is below the previous EOD balance, it means your account has a loss today. Suppose your previous EOD balance is $9,800 and your equity is $9,600, it means your max trailing loss is 2.08%.

Equity limit: If your account equity reaches the equity limit, you will break the daily loss rule. The equity limit is always 4% of the previous EOD balance. Therefore, if your starting balance is $10,000, your max loss equity limit is $9,600.

Metrics

Besides monitoring rules, the dashboard shows important information related to rule calculation.

Dashboard statistics

Current profit: The current profit is expressed as a percentage and can be positive or negative. Suppose you have an account that started with $10,000 and the balance increased to $10,100, then your current profit will be 1%. Conversely, if your balance decreases to 9,900, your current profit will be -1%.

High watermark: The highest value your account reached and the basis for calculating the max trailing loss rule.

Previous EOD balance: The balance of your account at 22:00 UTC on the previous day and the basis for calculating the daily loss rule.

Equity: Your current cTrader account equity. It may deviate marginally from values shown in cTrader due to latency.

Balance: Your current cTrader account balance.

Scaling: How much profit is required to reach the 12% target to reach the next level. The scaling card shows the percentage and absolute amount required. For example, if your starting balance was $10,000 and your current profit is $600 (6%), you’ll need another $600 (6%) to scale. When the scaling value reaches $0, you’ve qualified for the next round. The scaling card fills according to progress.

Profit: Profit shows how much profit you have in your account. Profit is simply starting balance + profit & loss. If your account has more than 3% profit, you can request a payout.

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