Daily simulated drawdown is 3%. We would look at your balance at the start of the day (5PM EST) and it would be calculated based on your balance.

Example 1: On the first day, you start with 100k account. Your daily drawdown is 3% meaning your available daily dd of $3,000 and daily limit would be at 97k.

Example 2: On your first day, you made $3k profit so started your second day with a balance of $103,000. As your daily dd is 3% of your starting balance of the day, this means you would have an available daily dd of $3,090 and your daily limit would be at $99,910.
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You also need to be aware of your max drawdown which is trailing and you can find the information regarding this in the max dd faq.
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Daily drawdown will reset each day at 5PM EST.