The max drawdown breaker disables live trading when the account's unrealized + realized drawdown from peak equity exceeds the configured limit.

How drawdown is computed

peak_equity   = max(equity over rolling window)
current_drawdown_pct = (peak_equity - current_equity) / peak_equity × 100

current_equity = balance + sum of unrealized P&L. The drawdown includes open positions, so a fast move against you can trip the breaker even before any close fires.

Configuration

Set the percent threshold on the Risk Settings page.

Difference from the daily loss breaker

Daily loss: realized P&L from today only.
Drawdown: realized + unrealized over the rolling window.

Both can fire on the same day. Drawdown is the longer-horizon guardrail.

Pitfalls

Drawdown peaks ratchet up. A new equity high resets the watermark; the breaker measures from that high.
Unrealized swings can trip the breaker even when the position is still profitable on average.