Currently a loss....call it what it is. A loss on paper or not is a loss not “drawdown”They said it was a 3rd party issue and are still looking into it and have put measures in to prevent it happening. In the meantime they have begun reimbursing. Trades are back open some profit made and currently in drawdown.
Will keep everyome updated!
Drawdown is only known after the event and refers to the peak to trough of an investment.
How big % wise are these running losses? How quickly are they closed out when profitable? Are they clung onto until in profit to maintain the “no losses” mantra?
Re the rogue trade - if a third party issue why has Prophet reimbursed it why not the 3rd party. What happens next time? What actions have been taken to reduce the risk of this happening again? What reserves does the company have for future errors?
If some profited and some made 51% losses are accounts simply trading against each other?