You are required to use a stop loss after you pass the evaluation phase and are a funded trader.
The reason is because it is prudent for risk management, which is important to have longevity in the markets and protect capital.
After opening a position, you will have a two-minute window to place a stop loss. All trades opened on the same pair during that 2-minute window will be considered as one position for which a stop loss is required on each.
If you fail to place a stop loss within two minutes of executing a trade, our system will automatically detect this and send you a warning email. This is only considered a soft breach rule, so you will be able to continue trading your account. You are allowed 2 soft breaches. The third breach will be a hard breach of your account. Profits made on trades with no stop loss will be deducted. Also see Breach Notifications.
The stop loss value when the trade is closed is final. If a trade is closed with no stop loss or if the stop loss set breaches the risk management rules, this will be a breach regardless of the trade duration.
