What is daily loss limit?
The most you can lose in one trading day before the account fails or pauses.
It's usually a percentage or dollar amount counted from that day's starting balance or equity. Firms differ on when the day resets (often midnight server time or 5pm New York) and whether open losses count.
Breaking it ends the challenge at most forex and CFD firms. Some futures firms treat it as a pause for the rest of the day instead.