Max daily loss is based on 4% of the Initial account balance.

We calculate daily drawdown as follows: Upon the 5pm Est day change, we will take the higher figure of either the account balance or account equity and subtract a fixed 4% of the initial balance from the higher value as the daily loss limit for the new day.

Example 1: On the first day, you start with 100k account. Your daily drawdown is 5% meaning your available daily dd of $5,000 and daily limit would be at 95k.
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Example 2:
If there are no open trades at 5pm EST, the daily drawdown will be 4% of whatever the closed balance is.

Daily drawdown will reset each day at 5PM EST.