Intraday vs EOD tracking

Is drawdown measured tick by tick, or only at the close?

This is about how the peak behind your drawdown is tracked. Intraday tracking counts unrealised profit at its highest point during the session, so the breach line trails up while a trade is still open — letting a winner run and then giving it back is a common way to blow an account. EOD (end of day) tracking only looks at the closing balance, which leaves room to breathe during the session and is generally the more forgiving setup. The same $2,000 drawdown is effectively a different product depending on which method a firm uses.