If you trade a funded or challenge account, the rule that ends most attempts is often the daily loss limit. Here is a short checklist for tracking it, based on the thinking behind my utility Creyes Prop Firm Guard.
1. Know exactly how your firm measures the limit
Some firms measure from the balance at the start of the day, others from the starting equity. Some count the floating profit or loss of open trades, others only closed trades. Read the rule text of your own firm and do not assume.
2. Work in money, not in pips
The limit is an amount of money. Convert your stop loss and lot size into the amount you would lose if the stop is hit, and compare it with the room you have left today.
3. Keep a safety buffer
Spread, slippage, swap and commission all eat into the limit, and fast markets can move through a stop. Setting your own limit a little below the firm's limit leaves room for these costs.
4. Decide in advance what happens at the limit
Do not decide while the account is under pressure. Write down the rule: close everything, then no new trades until the next day.
5. Do not forget the other rules
Maximum loss can be static or trailing. Some programs have a consistency rule that limits how much of the total profit a single day can represent. Many also restrict trading around high-impact news.
How Creyes Prop Firm Guard handles this
Prop Firm Guard is a rule watchdog for MetaTrader 5 accounts. It watches the whole account on every tick and never opens trades. It only blocks, closes and warns.
- Daily loss and maximum loss (static or trailing) with a safety buffer. At the limit it closes everything and blocks new trades.
- News blackout: closes positions and blocks new ones around high-impact events from the MetaTrader calendar.
- Consistency rule: stops the day before a single day exceeds the allowed share of total profit.
- Live panel with bars that show how close you are to every limit, plus weekend close and profit-target lock.
Product page: Creyes Prop Firm Guard on the MQL5 Market. All my tools in one place: my products.
Rules differ between firms, so always check the rules of your own program. Trading involves a high risk of loss. No results are promised and this is not financial advice. Please test any tool on a demo account first.
