End-of-day drawdown
An end-of-day drawdown is a loss limit checked only at the daily close: the account breaches only if end-of-day equity or balance sits below the floor, so intraday dips alone cannot end it.
Firms using this model record the account's value once per day at a fixed server time. Both sides of the rule commonly work on those snapshots: the breach check uses the closing value, and where the floor trails, the high-water mark advances from closing values rather than intraday peaks.
The contrast is with intraday equity tracking, where the low of any open position can breach the account in real time. Under an end-of-day rule you can sit through a mid-session dip and finish the day intact — the same dip that would have ended an account governed by an intraday trailing drawdown.
Example
A $100,000 account has a 10% end-of-day floor at $90,000. During a volatile session equity touches $89,200, recovers, and closes at $91,400. Under the end-of-day rule the account survives, because only the close is tested; an intraday version of the same limit would have breached it the moment equity crossed $90,000.
End-of-day rules commonly pair with a separate intraday daily loss limit, so room to manage a trade is not room to lose without bound. Firms implement the details differently, which is why the drawdown section of a rulebook deserves the closest read; the variants are laid out in drawdown types explained.