PAYDAY Stop Loss and Minimum Trade Time Rules
PAYDAY Accounts are designed to give traders more flexibility than most standard Top One Trader account types.
On many account types, traders may be required to use a stop loss and hold profitable trades for a minimum amount of time. On PAYDAY Accounts, these two rules are not mandatory.
This means traders are not required to place a stop loss, and they are not required to hold profitable trades for a minimum trade time.
Is a Stop Loss Required?
No.
PAYDAY Accounts do not have a mandatory stop loss requirement.
Traders may choose to place a stop loss if they want to, but it is not required.
This means a trade can be opened without a stop loss and still be considered valid under the PAYDAY Account rules.
Can I Trade Without a Stop Loss?
Yes.
Traders are allowed to trade without a stop loss on PAYDAY Accounts.
However, trading without a stop loss can carry significant risk, especially because PAYDAY Accounts have a 2% trailing max loss limit.
If the account reaches or falls below the trailing max loss limit, the account will be breached, even if no stop loss was required.
Stop Loss Risk Reminder
While stop losses are not mandatory, traders are still fully responsible for managing their risk.
Trading without a stop loss may increase the risk of:
Larger than expected losses.
Fast drawdown during volatile conditions.
Slippage during rapid market movement.
Breaching the 2% trailing max loss limit.
Losing the account before completing the PAYDAY objective.
The absence of a mandatory stop loss rule does not remove the trader’s responsibility to manage the account safely.
Is There a Minimum Trade Time?
No.
PAYDAY Accounts do not have a minimum trade time requirement.
Traders are not required to hold trades for a specific number of minutes.
This means traders can close trades whenever they choose, including shortly after opening the trade.
Can I Secure Profits Immediately?
Yes.
Traders may secure profits as soon as they prefer.
There is no requirement to hold profitable trades for 5 minutes or longer on PAYDAY Accounts.
If a trade reaches the trader’s desired profit level, the trader may manually close the trade at any time.