How does the Live drawdown work?

Written by Phoenix Labs
Live FundingInvitation-only real-money accounts: how you are called, what moves with you, how your Live account works and how you withdraw.

Your Live account starts at $0 and has a $1,000 end-of-day drawdown. It is measured on everything you have made, payouts included, so a withdrawal never pulls your floor down.

  • Made so far = your closing balance + everything you have withdrawn.
  • Your floor = the best "made so far" minus $1,000, set at the close. It never moves down.
  • It stops at $0, your starting balance. Once you have made $1,000, your floor is locked at $0 for good.
  • A close at or below your floor closes the account.

An example week

Five green days, taking out everything above the $500 you keep in the account each day:

DayResultMade so farYour floorYou take outIn your pocket (70%)
Day 1+$500$500-$500$500$350
Day 2+$700$1,200$0, locked$200$140
Day 3+$400$1,600$0$400$280
Day 4+$300$1,900$0$300$210
Day 5+$500$2,400$0$500$350

On day 1 you take out all of it and your floor still rises: every dollar you make counts, even the ones you withdraw. On day 2 your floor locks at $0. $1,900 taken out in five days: $1,330 in your pocket.

The floor card on the Live Desk
A sample Live Desk. Names and figures are fictional.

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