What are end of day (EOD) accounts?
EOD accounts calculate drawdown based on the end of day balance of the trading accounts. The drawdown is pegged to your positive account performance and is adjusted and updated after market close. That also means if you increase your profit by $100, then your minimum account balance will also rise by $100.
For example,
Your account size is $150,000, with a maximum drawdown of $4,500. When the account is opened with these parameters, the minimum account balance is $145,500.
Day 1
On 1st trade you made $3,000. On 2nd trade you lost $500. At the end of the day, your account balance gained $2,500. The firm will adjust your minimum balance to $148,000.
The EOD trailing will stop for $150,000 account when your hit $154,500. Then you can trade with $154,500 account without trailing.
If you want to start EOD accounts with No daily loss limit.
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