Definitions & Interpretation

These terms keep the same meaning everywhere in this Rulebook. Defined terms are shown with capital letters.

DEF.1.1 · Account Breach

Any event that makes a Challenge or Sim. Funded Accounts fail — either a Hard Breach (BRC.2) or, where the rules say so, a Soft Breach (BRC.3).

DEF.1.2 · Arbitrage

Profiting from price-feed errors, glitches or price differences between platforms instead of taking genuine market risk. Prohibited under PTP.6.

DEF.1.3 · Consistency Rule / Consistency Score

A measure of how evenly your profit is earned: (Biggest Winning Day ÷ Current Total Account Profit) × 100. Your biggest single day must stay under the ceiling for your model (PAY.5).For the 2-Step Fly Challenge, a 40% Consistency Rule applies when passing Phase 2 (EVL.4).

For the 1-Step Fly Challenge, the 40% Consistency Rule applies only during Phase 1. Additionally, the same 40% Consistency Rule applies to the Sim. Funded Account if the trader opts for the On-Demand Payout Cycle.

DEF.1.4 · Copy Trading

Copying trades between trading accounts. Allowed only between your own Hola Prime accounts; prohibited from external sources or between different people (PTP.8).

DEF.1.5 · Daily Loss Limit

The maximum you can lose in one trading day, measured against the previous day’s closing balance and counting both closed and floating profit and loss (TR.1).

DEF.1.6 · Drawdown

How far your equity or balance has fallen from a reference level. It can be Static (fixed to the initial balance, TR.2) or Trailing (following the High-Water Mark, TR.3).

DEF.1.7 · Evaluation / Challenge

The assessment phase(s) you complete to earn a Sim. Funded Account: comprising profit targets, minimum trading days and rule compliance (EVL).

DEF.1.8 · Funded Account / Hola Prime (Sim. Funded) Account

A simulated account with virtual capital on which you can earn real cash rewards, unlocked by passing a Challenge or buying a Direct and Direct (Fly) Account (ACC.1). On the 2-Step Fly plan and 1-Step Fly, the funded stage is the Sim. Funded Account (DEF.1.27).

DEF.1.9 · Gambling

Chance-based or speculative trading without defined risk or analysis — grid orders, all-in bets, revenge trading and similar behaviour. Explained in full in PTP.2.

DEF.1.10 · Grid Trading

Placing layers of buy and sell orders above and below the market to catch short-term swings without analysis. Treated as gambling under PTP.2.

DEF.1.11 · Hedging

Holding buy and sell positions in the same instrument. Allowed inside one account; prohibited across accounts (PTP.7).

DEF.1.12 · High-Frequency Trading (HFT) / Tick Scalping

Using algorithms and fast connections to fire a high volume of trades at tiny price moves. Prohibited under PTP.4.

DEF.1.13 · High-Water Mark (HWM)

The highest end-of-day balance your account has reached. Trailing Drawdown is measured from it (TR.3).

DEF.1.14 · Leverage

How much larger a position you may control than the margin you post. Set by account model and instrument (TR.7).

DEF.1.15 · Lot

The standard unit of trade size in Forex (one standard lot = 100,000 units of the base currency). Open-lot caps are in TR.5.

DEF.1.16 · Margin

The capital reserved to open and hold a position. Margin Utilisation is your used margin as a percentage of your balance (TR.6).

DEF.1.17 · Max. Loss Limit (Maximum Drawdown)

The absolute floor your equity or balance must never reach. Breaching it closes the account permanently (TR.2 and TR.3).

DEF.1.18 · News Trading

Opening, closing or modifying trades in the window from 5 minutes before to 5 minutes after a scheduled high-impact economic release (MKT.1).

DEF.1.19 · Payout

A withdrawal of your share of simulated profits, paid to you in real money once you meet the conditions book by PAY.

DEF.1.20 · Position

An open trade in one instrument and direction. Several overlapping positions can count as a single Trade Idea (TR.4).

DEF.1.21 · Profit Target

The percentage gain on the initial balance needed to pass an Evaluation phase (EVL.1).

DEF.1.22 · Scalping

A short-holding-time trading style. Normal scalping is allowed; abusive Tick Scalping and HFT are not (PTP.4).

DEF.1.23 · Tick

The smallest price step of an instrument. Exploiting single-tick moves at high volume is covered by PTP.4.

DEF.1.24 · Trade Idea

One directional view in one instrument. Overlapping or quickly re-entered positions in the same instrument and direction are grouped as one Trade Idea (TR.4).

DEF.1.25 · Trading Day

A calendar day on which you open at least one trade. Simply modifying orders does not count (EVL.2).

DEF.1.26 · Trailing Drawdown

A Max. Loss Limit that rises with the High-Water Mark until a set profit level, then locks at the initial balance (TR.3). The 2-Step Fly Sim. Funded Account has a 5% intraday trailing MLL that locks at 3% below the initial balance. 

Direct Fly and 1-Step Fly Sim. Funded Accounts have a 4% intraday trailing MLL that locks at the initial balance.

DEF.1.27 Sim. Funded Account

The funded stage of the 2-Step Fly plan, 1-Step Fly and Direct Fly, it operates in a simulated trading environment, and trades may or may not be placed with an external exchange, broker or liquidity provider (ACC.5).

DEF.2.1 Currency

All money amounts are in United States dollars (USD) unless stated otherwise.

DEF.2.2 Times and daily resets

Daily loss limits reset at 17:00 EST (server time).

DEF.2.3 Balances

“Initial balance” means the balance your account started with (or, after scaling, the new scaled balance — GRW.1). “Previous day’s closing balance” means the balance recorded at the daily reset.

DEF.2.4 Equity and balance

Loss limits look at both: your realised profit and loss on closed trades plus the floating profit and loss on trades that are still open.

DEF.2.5 When a limit is breached

A loss limit is breached the moment your equity or balance reaches or falls below the stated floor — even for a second, and even if the account recovers afterwards.

DEF.2.6 Examples

Worked examples are there to help you understand a rule. If an example and the rule itself ever seem to differ, the rule governs.

DEF.2.7 Wording

“We”, “us” and “the Company” mean Hola Prime; “you” means the trader. The singular includes the plural.