A daily loss limit that holds when your discipline doesn't.
Set the number once. When the account hits it, MimikTrader stops new entries, closes what's open at the broker, and locks the account until the reset — no confirmation prompt you can talk yourself past.
- Enforced live on your net liquidation, not a spreadsheet you check after the fact
- Auto-flatten at the broker, then a lock — you don't have to click anything
- Closes and exits are never blocked, even after the limit trips
- Runs per account, so one blown eval doesn't drag the rest of your group down
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Set the daily loss limit per account — it's enforced from the next tick on.
The definition
What a daily loss limit actually is.
A daily loss limit is the maximum a trading account is allowed to lose in a single session before trading has to stop. Nearly every prop firm imposes one on evaluations and funded accounts — it's the guardrail that lets them extend leverage to a trader they've never met.
For the trader, the number on the rulebook is only half the story. What matters is what happens the moment you touch it. On most setups, nothing happens automatically: the limit is a line in the terms, and staying inside it is left entirely to you. That's the gap this page is about.
MimikTrader treats the daily loss limit as an account-level rule the platform enforces on your behalf, checked against your net liquidation — cash balance plus open profit and loss — on every price tick. It isn't a reminder. It's a stop.
Why willpower loses
The limit fails at exactly the moment you need it.
A daily loss limit is easy to respect on a green day. The problem is the red one. You're down near the number, the setup that just stopped you out looks like it's about to reverse, and the honest thought — "one more, I'll make it back" — is the most expensive sentence in trading. That's tilt, and it doesn't feel like recklessness in the moment. It feels like conviction.
A limit you enforce by hand only works while you're calm enough to enforce it. The instant you aren't, it's just a number you're now negotiating with. Manual discipline asks you to be most disciplined precisely when you have the least discipline to spend.
Enforcement removes the negotiation. When the rule lives in the platform instead of your head, there's nothing to override, no prompt to dismiss, no "I'll be careful this time." The decision was made when you set the limit — back when you were thinking clearly — and the platform simply honors it.
What enforcement does
Set once. The platform does the rest.
When the account crosses its daily loss limit, MimikTrader runs a fixed sequence, in real time, without any action from you:
First, the account flips to closing-only mode — new opening trades stop immediately, even while the next step is still in flight. Second, the engine flattens every open position at the broker, sending real close orders, not a local UI reset. Third, once the flatten confirms, the account locks. You get a clear notification and an activity-log entry — "risk limit breached, auto-flattened and locked" — so there's a record of exactly what happened and why.
If a broker flatten can't complete, the account stays in closing-only mode and the engine keeps retrying on the next tick rather than falsely reporting you flat. The system fails toward safety, not toward a green checkmark.
- Account flips to closing-only — no new entries accepted
- Open positions flattened at the broker with real close orders
- Account locks once the flatten confirms
- Notification and activity-log entry record the breach
Closing-only → flatten → lock. The sequence runs itself.
When it clears
The lock lifts on its own at the daily reset.
A daily-loss lock is not a support ticket. It clears automatically at the daily reset — 5:00 PM Central Time, the CME session boundary — and the account is trading again for the new session. The same reset zeroes the day's counters, so a stale count from a prior session can never phantom-block you the next day.
This is the point of a daily limit done right: it protects the session you're in without punishing the one that comes next. You take the loss, you're out for the day, and tomorrow starts clean — automatically.
The one thing the reset never touches is your ability to exit. Even while an account is locked, closing and reducing trades always go through. A lock only ever blocks new opening risk.
The full picture
The daily number is one rule of several.
A daily loss limit is the rule most traders reach for first, but it isn't the only line that decides whether a funded account survives. MimikTrader enforces a set of account-level rules, each on the same live basis:
Weekly loss limits extend the same discipline across a five-day window and clear at the weekly reset (Sunday 5:00 PM CT). Trailing drawdown tracks a persistent high-water mark of your account value and reacts to open losses in real time. Profit give-back protection caps an open loss against the day's profit base — the greater of realized profit and your trailing drawdown amount. A max-daily-trades rule counts your opening trades — closes never count against it — and both blocks new entries and flattens on breach. Daily and weekly profit targets are enforceable too.
When several rules trip at once, the engine resolves them in a fixed priority order so the account transitions cleanly rather than fighting itself. Whichever rule fires, the enforcement outcome is the same: closing-only, flatten, lock.
Honest about the plan
Risk enforcement is part of the Pro plan.
Live risk enforcement — daily and weekly limits, trailing drawdown, profit give-back, max daily trades, and the auto-flatten-and-lock sequence — is included with the Pro plan at $49.99/mo. Every plan starts with a 7-day free trial, so you can set a limit, watch it hold on a live account, and decide from there. We'd rather tell you that up front than bury it.
The Starter plan covers copying across your connected accounts. The risk rules described on this page are a Pro feature, and we won't pretend otherwise.
In a live trade
What happens when one account breaks a rule?
One leader trade. Five follower accounts. One breach. Here is what MimikTrader does about it.
Copy group · 1 NQ contract leader trade
After breach event
Account
Firm / size
Status
Day P&L
Account 01
Apex 50K Eval
Active+$420
Account 02
Topstep 50K Funded
Active+$380
Account 03
MFFU 50K Eval
Locked-$1,000
Account 04
Bulenox 100K Eval
Active+$840
Account 05
Tradeify 50K Eval
Active+$420
Step 01
Trade copied across five accounts
You place a trade on the leader account. MimikTrader sends the correct order to each follower based on its copy settings.
Step 02
One account reaches its daily loss limit
Account 03 hits the configured daily loss threshold while the copied position is still live.
Step 03
MimikTrader flattens the affected account
The breached account is closed according to your configured flatten rule.
Step 04
The account is locked
New copied trades are blocked from entering that account until the lock is cleared.
Step 05
Other accounts keep running
Accounts 01, 02, 04, and 05 continue following the copy group because they did not breach their rules.
Step 06
The event is recorded
The fill, breach, flatten action, account lock, and timestamp are written to the trade record.
What the daily loss limit enforces
- Daily loss limit checked live on net liquidation (cash + open P&L)
- Closing-only mode the instant the limit is crossed
- Automatic broker flatten with real close orders
- Account lock after the flatten confirms
- Self-clearing lock at the 5:00 PM CT daily reset
- Closes and reduces never blocked, even under a lock
- Per-account enforcement — one breach doesn't cascade
- Breach notification and durable activity-log entry
- Retry-on-tick if a broker flatten can't complete
FAQ
Daily loss limit — common questions
No — that's the point. Once you set the limit, MimikTrader enforces it without a dismissible prompt. When the account crosses the number, it flips to closing-only, flattens, and locks. There's no in-the-moment override to talk yourself into.
Never. Closing and reducing trades always go through, even after the limit trips and the account is locked. A lock only ever blocks new opening trades — it can't strand you in a position you want out of.
The account flips to closing-only mode so no new entries are accepted, the engine flattens every open position at the broker with real close orders, and then the account locks. You get a notification and an activity-log entry recording the breach.
A daily-loss lock self-clears at the daily reset — 5:00 PM Central Time — and the account trades again for the new session. You don't need to contact support to unlock it.
Yes. Each connected account carries its own limit and is enforced independently, so one account hitting its daily loss doesn't flatten or lock the others in your group.
No — risk enforcement is a Pro-plan feature ($49.99/mo). Starter covers copying across your connected accounts. Every plan starts with a 7-day free trial so you can try the enforcement on a live account first.
Set the limit once. Let the platform hold it.
A daily loss limit only protects you if it fires without asking. Start a free trial and watch it enforce itself on a live account.
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