We do not have a daily drawdown limit set, only Max Drawdown. This max drawdown amount is based off your starting balance.
For example, if the drawdown was 7%, we would take 7% from the starting balance. In a 200K account, this amount would be $14,000.
This amount will now always trail your HWM (High water mark), which is the highest your end of day (EOD) balance has ever reached. We consider the EOD to be 5 PM EST.
For example, let's assume that the EOD High Water Mark for this account was $200,380.00. We would take $200,380.00 (HWM) minus $14,000 (7% trailing max drawdown amount) to give us the drawdown limit of $186,380.00.
As long as the account does not surpass the HWM, the drawdown limit will not change.