The rules of selecting traders for stock index futures of China
1. Trading rule
(1) Traders must do day trading. All the position must be closed 2 minutes before the market is closed. Regardless of any reason that traders who don’t close their positions, they will be out.
(2) Every trading day, lost reaches 5% of the initial capital in trading cycle, the account will be automatically closed in the day. This day is called a forced closing day. In each trading cycle, traders who have two forced closing days will be out.
(3) Every trading day, lost reaches 10% of the initial capital in the day, the trader will be out.
(4) Lost of a single trade reaches 15 index points, the system will automatically close the position but not froze the account.
(Comments of China stock index futures contract: the contract multiplier is 300. Currently, the index is about 2900)
(5) Traders can only trade the main futures contract.
(6) Traders are forbidden to open positions in limit price. The traders who does such action will be out and never permitted to enter our selection again. If the real account has profit, the trader’s share will be taken away.
2. Selection procedure and related parameters
(1) Simulative selection is divided into two phases. Traders who pass the primary level will enter the secondary level. Traders who pass the secondary level will enter the real account phases.
(2) Simulative selection cycle is 15 trading days. The initial capital is 200,000 Yuan (Chinese currency unit).
(3) Commission of trades in single operation is 0.007%. Margin is 18%. (Each contract needs about 160,000 Yuan to maintain the position)
3. Real account levels
(1) Real account is divided into 6 levels. Initial capitals of the levels are:
A. 200,000
B. 400,000
C. 600,000
D. 800,000
E. 1,200,000
D. 1,600,000
(2) Traders will be promoted from lower to higher level if they achieve the promotion standard. Traders will keep their current level if they can achieve the standard to avoid relegation. Traders will be relegated to lower level if they cannot achieve the standard to avoid relegation. Traders will be cleaned out to the primary phase of simulative selection, if they reaches standard to clean out.
(3) Real account cycle is 20 trading days.
(4) Traders will take 30% share of profit in their real account. The lost will be burdened by the company.
4. Definition of valid profit day
(1) If Day trading profit >= (2% of initial capital), the day is counted as 1 valid profit day.
(2) If Day trading profit >= (6% of initial capital), the day is counted as 2 valid profit days.
(3) If Day trading profit >= (10% of initial capital), the day is counted as 3 valid profit days.
(4) In a trading day, if (count of profit trade – count of losing trade) >= 4, the day is counted as 1 valid profit day.
(5) In a trading day, if (count of profit trade – count of losing trade) >= 10, the day is counted as 2 valid profit days.
(6) In a trading day, if (count of profit trade – count of losing trade) >= 15, the day is counted as 3 valid profit days.
(7) The valid profit day of profit count and trades count in the above don’t be accumulated.
5. Promotion standard of simulative selection
Traders achieve one of the following standards are promoted to the next level.
(1) Conditions of standard 1:
A. Valid profit days >= 8
B. Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is more than 10%.
C. During the cycle, there is no forced closing day.
(2) Conditions of standard 2
A. Valid profit days >= 8
B. Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is more than 15%.
6. Standard to avoid relegation of secondary level in simulative selection
Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is positive.
7. Promotion standard of real account levels
The total profit in the trading cycle reaches 20% or above.
8. Standard to avoid relegation of real account
(1) The total profit in the trading cycle is positive.
(2) The total account lost is below 3% of initial capital and there is no forced closing day. In condition of the trader is willing to fill the lost with profit of the next cycle, the account can keep in the current level.
9. Relegation standard of real account
The account loses of money.
1. Trading rule
(1) Traders must do day trading. All the position must be closed 2 minutes before the market is closed. Regardless of any reason that traders who don’t close their positions, they will be out.
(2) Every trading day, lost reaches 5% of the initial capital in trading cycle, the account will be automatically closed in the day. This day is called a forced closing day. In each trading cycle, traders who have two forced closing days will be out.
(3) Every trading day, lost reaches 10% of the initial capital in the day, the trader will be out.
(4) Lost of a single trade reaches 15 index points, the system will automatically close the position but not froze the account.
(Comments of China stock index futures contract: the contract multiplier is 300. Currently, the index is about 2900)
(5) Traders can only trade the main futures contract.
(6) Traders are forbidden to open positions in limit price. The traders who does such action will be out and never permitted to enter our selection again. If the real account has profit, the trader’s share will be taken away.
2. Selection procedure and related parameters
(1) Simulative selection is divided into two phases. Traders who pass the primary level will enter the secondary level. Traders who pass the secondary level will enter the real account phases.
(2) Simulative selection cycle is 15 trading days. The initial capital is 200,000 Yuan (Chinese currency unit).
(3) Commission of trades in single operation is 0.007%. Margin is 18%. (Each contract needs about 160,000 Yuan to maintain the position)
3. Real account levels
(1) Real account is divided into 6 levels. Initial capitals of the levels are:
A. 200,000
B. 400,000
C. 600,000
D. 800,000
E. 1,200,000
D. 1,600,000
(2) Traders will be promoted from lower to higher level if they achieve the promotion standard. Traders will keep their current level if they can achieve the standard to avoid relegation. Traders will be relegated to lower level if they cannot achieve the standard to avoid relegation. Traders will be cleaned out to the primary phase of simulative selection, if they reaches standard to clean out.
(3) Real account cycle is 20 trading days.
(4) Traders will take 30% share of profit in their real account. The lost will be burdened by the company.
4. Definition of valid profit day
(1) If Day trading profit >= (2% of initial capital), the day is counted as 1 valid profit day.
(2) If Day trading profit >= (6% of initial capital), the day is counted as 2 valid profit days.
(3) If Day trading profit >= (10% of initial capital), the day is counted as 3 valid profit days.
(4) In a trading day, if (count of profit trade – count of losing trade) >= 4, the day is counted as 1 valid profit day.
(5) In a trading day, if (count of profit trade – count of losing trade) >= 10, the day is counted as 2 valid profit days.
(6) In a trading day, if (count of profit trade – count of losing trade) >= 15, the day is counted as 3 valid profit days.
(7) The valid profit day of profit count and trades count in the above don’t be accumulated.
5. Promotion standard of simulative selection
Traders achieve one of the following standards are promoted to the next level.
(1) Conditions of standard 1:
A. Valid profit days >= 8
B. Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is more than 10%.
C. During the cycle, there is no forced closing day.
(2) Conditions of standard 2
A. Valid profit days >= 8
B. Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is more than 15%.
6. Standard to avoid relegation of secondary level in simulative selection
Day trade profit larger than 4,000 is discounted to 4,000. Lower profit is counted as real count. The total profit is positive.
7. Promotion standard of real account levels
The total profit in the trading cycle reaches 20% or above.
8. Standard to avoid relegation of real account
(1) The total profit in the trading cycle is positive.
(2) The total account lost is below 3% of initial capital and there is no forced closing day. In condition of the trader is willing to fill the lost with profit of the next cycle, the account can keep in the current level.
9. Relegation standard of real account
The account loses of money.
