The Max Daily Loss rule refers to the maximum daily loss your account can incur in a single trading day before violating the risk management rule. The end-of-the-day (EOD) is calculated in the dashboard at around 22:05 GMT in the winter and at around 21:05 GMT during US Daylight Savings.

By default, the Max Daily Loss limit is 3% of your previous EOD reference, where the previous EOD reference is defined as the higher of your previous end-of-day balance or end-of-day equity. The daily loss limit is not a fixed value and will change whenever the previous EOD balance or equity changes.

Your account will be breached if your current equity falls below the Max Daily Loss limit.

The Max Daily Loss rule applies to all our challenges and simulated funded accounts. If you breach this rule, your account will be breached.

Your Max Daily Loss limit may be higher if you are Rank 4 or above in our Experience Program.

You do not need to calculate the Max Daily Loss limit; it is calculated in real time and displayed in your dashboard.

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The calculation for the Max Daily Loss limit is the following:

If your initial balance is $100,000 and your Max Daily Loss is 3%, and your previous EOD balance and equity are both $100,000, your EOD reference is $100,000

A new trading day begins at 22:00 GMT each day (21:00 GMT during U.S. Daylight Savings Time).

If your end-of-day balance is $101,000 and your end-of-day equity is $102,000, your EOD reference is $102,000.

Your Max Daily Loss limit for the new trading day will be $98,940, meaning you cannot lose more than $3,060.

If by the end of the day your balance is $98,000 but your equity is $99,000, your EOD reference is $99,000.

Your Max Daily Loss limit for the following day will be $96,030, meaning you cannot lose more than $2,970.

Yes. You can increase your Max Daily Loss to 4% Experience Program after you achieve Rank 4 in our Experience Programs.