Trailing Drawdown Across Many Accounts: One Rule, Ten Times

Trailing drawdown is hard enough on one account: a floor that follows your highest equity upward, often including open profit, and never comes back down. On a farm the rule does not get harder. It gets *multiplied* — and the multiplication is the part people miss.

Every seat takes the same trade

Because firms ban hedging across your own accounts, a copied farm is one directional decision expressed on every seat. There is no diversification inside a tree. When the leader's day goes wrong, it goes wrong on ten accounts in the same minute, each measured against its own trailing floor.

So the question is never "can this seat survive a bad day?" It is "can every seat survive the same bad day at the same time?" — and the answer has to be yes, because that is the only kind of bad day a farm has.

The floor rises at different heights

A subtle one. Seats in the same tree do not have identical equity: they were funded on different dates, have different highs, and some have taken payouts (which, at many firms, resets or lowers the balance the drawdown is measured against). So the same losing sequence lands at a different distance from the floor on each seat. The seat nearest its floor sets the risk for the whole tree — the leader is effectively sized for the most fragile follower.

An operator knows, every morning, which seat is closest to its floor and how far. That number, not the leader's, is the tree's real room.

The lock point changes the character of a seat

Many trailing rules stop trailing once the floor reaches a set level — commonly the starting balance, sometimes slightly above it. A seat past its lock point has a fixed floor and can only breach by losing the locked amount from wherever it stands. A seat before its lock point can breach by giving back a run it just made. Those are two different risk profiles, and a tree can contain both. The lock point on a Lucid $50k is a concrete example.

What sizing for the farm actually means

Three rules we hold, in plain form:

- Size each seat so that the farm's *ordinary* losing day — the same trades, on every seat — leaves every seat, including the most fragile one, comfortably above its floor. - Stop the day, farm-wide, at a line well inside the tightest seat's remaining room. The firm's rule should never be the first thing to fire. - Avoid the shape that trailing rules punish hardest — a big run followed by a give-back — on the funded tree especially. Treated safer than evals is that principle.

None of this makes the rule friendly. It makes it survivable ten times over.

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