The Maximum Loss Limit (MLL) is Topstep's name for the lowest your account can fall before it is closed. On the 50K Combine it trails $2,000 below your end-of-day equity high and then freezes once it reaches your starting balance.
Treat the MLL as the single most important number on the account: it is the line that fails you, and after the freeze it is simply your starting balance.
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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