Leeloo Trading Weekend Holding Rule
The Simple Answer
It depends which account you hold, and the split is unusual. Holding through the close and over the weekend is permitted on Practice accounts and on the Investor type Performance Account. It is not allowed on any other Performance Account, where holding through the close means the account is closed and all balances forfeited.
Below is a breakdown of how the Leeloo Trading weekend holding rules apply across different account types and stages.
Breakdown by Account Type
Practice accounts
Holding positions through the close of market, 17:00 to 18:00 EST, is permitted during the practice phase. Rithmic carries the open position into the new day at the prior day close trade price rather than the settlement price, because settlement is often not published until the new trading day has begun. Your profit or loss is credited and the position carries forward at a different cost basis; it is not treated as a new position.
Investor Performance Account
The Investor option is the one funded account where holding is permitted. Leeloo directs you to the Investor Performance Account terms for the specifics. Note that the Investor still uses a rising trailing drawdown initially, stopping only at initial balance plus $100.
All other Performance Accounts
Holding positions on any other Performance Account is not allowed. All positions must be closed 15 minutes before market close, and Leeloo states no positions may be held at the close of market under any circumstances, with no overnight or end-of-session holding permitted.
The flat-by times are per instrument, not per firm
Leeloo publishes a full table. Equity indexes, FX, metals, energies and crypto close at 17:00 EST and must be flat by 16:45. Livestock, meaning feeder cattle, lean hogs and live cattle, close at 14:05 and must be flat by 13:50. Corn, soybean meal, oats, rough rice, soybeans and wheat close at 14:20 and must be flat by 14:05. Mini-corn closes at 14:45 and must be flat by 14:30.
The pre-open risk on Practice accounts
This is the part that costs people accounts, and Leeloo spells it out. In the 15 minutes before the 18:00 EST open you cannot manage your position, but price is still moving and your account value changes even though you cannot see it on your chart. Your Auto Liquidate Threshold Value can rise as it follows the high point of your balance, so by the open you may have less cushion than you had entering the close. Leeloo states that price can occasionally move so erratically pre-market that it is possible to hit your drawdown and lose the account.
Session Close and Reopen Times
Futures accounts do not pay swaps, so what matters instead is knowing exactly when you have to be flat and when the market comes back. These are the times that govern that.
Warning System for Weekend Holding Violations
On Performance Accounts other than the Investor, the consequence is absolute: any trader found holding open positions through the close of market will have their account closed and all associated balances forfeited, and Leeloo reserves the right to audit any account where non-compliance is suspected. On Practice accounts the risk is mechanical rather than disciplinary. Leeloo publishes a worked example: on a $2,500 daily loss limit account holding a position $1,000 in unrealised profit, if the market reopens $3,000 lower the trader is liquidated once P&L falls $2,500 from the closing balance, because that closing balance was the high water mark.
Final Comments
Weekend gap risk is the reason this rule exists, and it is why almost every futures firm wants you flat before the close on Friday. Treat the auto-close as a backstop rather than a plan, because the firms that offer it are the same firms that tell you not to rely on it.
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FAQ
Is weekend holding allowed in Leeloo Trading?
It depends which account you hold, and the split is unusual. Holding through the close and over the weekend is permitted on Practice accounts and on the Investor type Performance Account. It is not allowed on any other Performance Account, where holding through the close means the account is closed and all balances forfeited.
Can I hold over the weekend on a Practice Accounts (all contract tiers) account?
Evaluation phase: Allowed through the close and weekends. Funded phase: Not applicable. Holding positions through the close of market, 17:00 to 18:00 EST, is permitted during the practice phase. Rithmic carries the open position into the new day at the prior day close trade price rather than the settlement price, because settlement is often not published until the new trading day has begun.
Can I hold over the weekend on a Investor Performance Account account?
Evaluation phase: Not applicable. Funded phase: Allowed, see Investor account terms. The Investor option is the one funded account where holding is permitted. Leeloo directs you to the Investor Performance Account terms for the specifics.
What happens if I break the Leeloo Trading weekend holding rule?
On Performance Accounts other than the Investor, the consequence is absolute: any trader found holding open positions through the close of market will have their account closed and all associated balances forfeited, and Leeloo reserves the right to audit any account where non-compliance is suspected. On Practice accounts the risk is mechanical rather than disciplinary. Leeloo publishes a worked example: on a $2,500 daily loss limit account holding a position $1,000 in unrealised profit, if the market reopens $3,000 lower the trader is liquidated once P&L falls $2,500 from the closing balance, because that closing balance was the high water mark.
What time do I have to be flat with Leeloo Trading?
Market close and reopen: 17:00 EST close, 18:00 EST reopen. The full list of session times is in the table above, and different product groups can have different deadlines.
