Questions

I hit my prop firm's daily loss limit. What happens now?

At most firms a daily-loss breach is a hard breach: the account is closed at once, not paused until tomorrow. What is left is a discounted reset within a set number of days, and the arithmetic that decides whether the next attempt survives a losing run.

FundingPips lists the daily loss under "hard breach: immediate account termination with no grace period", and offers a reset at a discount within seven calendar days of the breach. FTMO's objectives page says only that the rule is "considered violated" when equity drops below the limit; what follows is in its terms. Some firms elsewhere lock the account until the next day instead. Each firm page on this site carries what the firm's own page says a breach does, with the source.

So there is nothing to do on the breached account. What the analyses linked on the firm pages say about why the line is reached is that it is rarely one trade: it is a run of ordinary losses after the first one, sized against the account label rather than against the few thousand between equity and the line. At 1% a trade on a 5% line, the fifth consecutive loss reaches it; at 2.5% a trade, the second does.

That is the number the challenge calculator shows for any risk per trade, and it is the number Propcockpit's order ticket holds an order to: an order placed through it is sized from a risk per trade and refused if it would not fit inside what is left of the day.

Challenge calculator shows this for your own numbers.