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Your max-loss line trails your highest equity up but never comes back down, and on Intraday accounts it trails in real time off UNREALIZED (open-equity) peaks. It stops trailing permanently once the threshold reaches your starting balance + $100 โ so the worst you can ever be liquidated at becomes start + $100. EOD accounts trail off the end-of-day balance instead.
The gotcha
It trails on unrealized equity: if you're up $400 open and give it back, the threshold already moved up โ you can be liquidated even though your CLOSED P&L never hit the limit.
| trailsOn | UNREALIZED_PEAK |
| locksAt | start + $100 |
| eodVariant | true |
Source: official tos โ official page . Confidence: verified.
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Start a Apex Trader Funding challengeInformational only โ not financial advice, not affiliated with Apex Trader Funding. Verify against official terms before relying on this. Last reviewed Jun 5, 2026.