The daily drawdown is the maximum your account can drop in a single trading day. On X-1-Step-DAILY it is 3% and it applies to both the challenge and the funded account.
Hard breach: if your balance or equity drops to the daily drawdown level, the account fails.
Limits per account
Account size | Daily drawdown (3%) |
$5,000 | $150 |
$10,000 | $300 |
$25,000 | $750 |
$50,000 | $1,500 |
$100,000 | $3,000 |
How it is calculated
The daily drawdown is based on the higher of your balance or equity at the end of the previous trading day (5 PM EST).
Your balance and equity may not drop more than your daily drawdown amount (3% of your starting balance) below that level during the day.
Open (floating) losses, commissions and swaps all count.
It resets every day at 5 PM EST.
Example ($50,000 account): At 5 PM EST your balance is $51,000 and your equity is $50,600. The reference for the next day is the higher of the two, $51,000. Your daily drawdown is $1,500, so the next day your account fails if your balance or equity reaches $49,500.