If a practice account has reached its Auto Liquidate Threshold Value (max loss), a reset can be executed if you wish to continue trading your account within your subscription period.
Topics:
- How to reset (Be sure to CLOSE ALL POSITIONS before attempting reset)
- Resets do NOT change the renewal/expiration date of the monthly subscription!
- WARNING. Resetting the wrong account is IRREVERSIBLE. (Be careful)
- Have you confirmed all positions are closed? Exit all open trades.
- Click "Reset Fee".
- Follow the payment instructions to pay the reset fee.
- Once you complete the payment, your account will be reset.
- Resets are usually immediate, but can take up to 60 minutes for the system to process. We appreciate your patience while working with us. If you do not see your reset within 60 minutes, please contact us via our contact form.
- You will receive an email. If you have one active account the email will look like this (*see below if you have more than 1 active account):
--------------------------------------------------------------------------------------------------------
Note. Your
Rithmic User ID and password do not change. You do not need to change your connection settings. If you disconnect and log back in you will see a NEW account number.
Example: you failed LL001702-002 and you reset the account. You will now see LL001702-003 in the R|TraderPro Dashboard (and your platform).
A reset does
NOT change the expiration date on your monthly subscription. You are auto-renewed and billed accordingly every 30 days until or unless you cancel the monthly subscription fee.
How do I cancel my subscription?
Also, your 30 day auto-renewal monthly subscription fee does NOT reset or change your account balance. It only extends the expiration date another 30 days. If you have profit, the same profit remains. If you have loss or have hit the max loss, that status remains unchanged as well. If you have hit your max loss, you either need to reset in order to continue trading the account or cancel the account and purchase a new one.
Example: Your 30 day monthly subscription is about to renew in 3 days, but you hit your max loss and need to reset to continue. You would pay to reset, but 3 days later you are still billed for the monthly subscription fee to extend it another 30 days. In some cases, you might consider canceling the account and purchasing a new one, versus paying the reset and 3 days later paying the monthly subscription fee. If you cancel a monthly subscription, do NOT register a new LeelooTrading.com membership. Keep using the same one to login and purchase additional practice accounts.)
There is no
maximum time requirement to reach your goal. A reset basically refreshes the Initial Balance so you can continue trading the account you subscribed to. All previous profit or loss are dismissed. Nothing carries over nor are resets factored into whether you are approved or not for a Performance-Paid Trading™ Account. Additionally, if you reset your account, the minimum required number of active trading days to qualify is reset to 10. Any previous active trading days will not count toward your 10 day minimum. You are given a new account number with a reset Initial Balance and you must now place trades on a minimum of 10 individual trading days while reaching your total profit target to qualify.
------------------------------------------------------------------------------------------------------------
*RESETS if you own more than one active account:
- You will login and follow the same steps above for purchase.
- You will receive an email with a link. Click the link and you will be shown all your active accounts. You will CAREFULLY choose the correct account you wish to reset. Check R|TraderPro to be SURE of the account number you need to reset.
- WARNING. Be VERY careful to reset the correct account number. If you make a mistake, Leeloo™ CAN NOT fix this.
A Friendly Reminder:
When you reset an account, make SURE to reset the CORRECT account! Take the time to ensure you are resetting the correct account of choice. When traders reset the wrong account, we can not help with a profit roll.
Warning: Do NOT engage in any trading activity with money you cannot afford to lose. Day trading can be extremely risky and offers no guarantee for success. You should not fund day-trading activities with retirement savings, student loans, second mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required to meet your living expenses.
If you engage in day trading activities, set a budget and do not spend beyond your set budget.