Drawdown and loss limits · Rookie
Daily reset time
What does Daily reset time mean?
Daily reset time is the boundary at which a program starts a new trading day for calculations such as daily losses or qualifying days. It may not match the trader’s local midnight.
Example
A trader carries an open loss into a new program day and must check it against the newly calculated daily allowance.
Illustrative example; not a provider’s quoted offer.Why it matters for prop traders
Identify the time zone and daylight-saving convention. A daily reset does not erase open-position risk or reset the account’s total loss limit.
Sources and further reading
The following primary sources support the terminology. Provider rules describe their own products and may change.