Prop Firm Drawdown Math Explained (2026): Balance vs Equity, Trailing High-Water Mark & the Midnight Reset Trap
Why funded traders fail prop firm challenges while still in profit: exact dollar math comparing Balance-Based vs Equity-Based Daily Drawdown, Static vs Intraday Trailing High-Water Mark (HWM) drawdown, and how holding floating profit across 00:00 server rollover can breach your account at breakeven.