How is the daily and max drawdown calculated?

Daily starting drawdown rule (applicable to ProTrader and StartTrader program):

Every day at midnight (server time), we take a snapshot of your equity. During the next 24 hours, your equity cannot get below 5% of your equity at midnight.

If you started with 100,000 USD and your equity at midnight (server time) after the first trading day is 103,000 USD, on the following day, you can't get below equity of 97,850 USD (103,000 - (103,000*0,05)).

For example, on the second trading day, you end up with equity at midnight of 101,000 USD. You are still fine, and you can continue trading.

On the following third trading day, you can't get below equity of 95,950 USD (101,000 - (101,000*0,05)). If you end up with some losing trades on the third day and your equity decreases down below 95,950 USD, it is considered a hard breach, and your ProTrader Evaluation Program will be terminated.

Please note that equity includes profit or loss from the open trades.

Overall drawdown rule:

The overall drawdown is simpler. It's the same every day, and it's 10% of your starting capital. If you started with 100,000 USD, your equity can never fall below 90,000 USD at any time (applicable for ProTrader and StartTrader accounts).

Overall drawdown on SwiftTrader is calculated from the ,,Start of the Day ( SOD ) equity”. If the SOD equity is higher than Initial balance, it means your high-water mark has increased and from that point onwards overall drawdown is calculated from updated value ( HWM ). High-water mark is updated once per day, at the end of the day

Please note both of these rules apply and are monitored in parallel, and breaching any of them results in failing the particular Evaluation Program.