Intraday trailing is the strictest common drawdown model: the floor follows your highest equity in real time, so an unrealised high in an open trade raises it immediately, even if price reverses.
Apex Trader Funding's evaluation uses this model. The practical lesson is to protect unrealised highs: a spike that reverses still moves your floor up and gives nothing back.
See it on your own trades.
Merlin computes the metrics and rule distances above from your imported history, and checks your next trade against them before you enter.
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Firm figures reflect published rules at the time of writing. Firms revise rules often, so verify against the firm's site before relying on them.
Merlin's gauges derive from closed trades. Your firm watches live equity including open positions.
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