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Futures trading day

Futures Trading Day

Trading

Definition

The futures trading day doesn't start in the morning: it opens the evening before, at 18:00 New York time, and closes the afternoon of the next day. According to this boundary, firms reset the daily loss limit, calculate the EOD drawdown floor, and count trading days.

Detailed explanation

In Israel time, a new trading day opens for most of the year at 01:00 AM and ends in the evening. Between closing and opening, there is a daily break, which is the window when firms update the balance, the end-of-day drawdown threshold, and the days counted for payout. For firms that prohibit holding overnight, the determining time is the firm's forced closing time, which is usually earlier than the market close. And a trade opened at 02:00 Israel time belongs to that morning's trading day, not yesterday's.

An example from the prop world

At Apex Trader Funding, the EOD plan's drawdown threshold is calculated at the end of the session at 16:59:59 ET, and the new trading day opens at 18:00 ET. A loss at 02:00 Israel time is already counted for the new trading day.

How it works at the firms on this site

Based on the rules listed on our firm pages. Rules get updated, so check the firm's page before buying.

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New York Time (ET)

The time zone where almost all prop firms write their rules: closing time, daily reset, and news windows. For most of the year, Israel is 7 hours ahead of New York. For a few weeks a year, when both countries change clocks on different dates, the difference drops to 6 hours.

Overnight holding

Leaving a position open after the trading day closes or into the weekend. Most prop firms require you to close before the daily close.

Daily loss limit

A loss cap for a single trading day. At most firms crossing the DLL stops trading until the end of the day, and at some it counts as a violation that closes the account.

End-of-day (EOD) trailing drawdown

End-of-day drawdown (EOD Drawdown) is a trailing maximum loss limit rule in which the loss threshold moves up only once a day, based on the closing balance. At most firms, however, the threshold itself is enforced in real time, so touching it during the trading day fails the account.

News trading policy

This is a risk management rule in funded trading accounts that prohibits traders from opening, closing or modifying active positions within a set time window (usually a few minutes) before, during and after the release of major high-impact economic events (Tier One).

Trade copying

Automatically duplicating every trade from a lead account to follower accounts, so you trade once across several accounts. It's done with software such as TradeSyncer or Replikanto, or with a copy tool built into the platform.