TradeDay Intraday Trailing Maximum Drawdown is the most active of three drawdown variants. The trailing line pegs to the highest equity peak in real time during the session. As equity climbs the line moves up; when equity dips the line stays. Lock-in at starting balance. Trail distance fixed by size: 2K (50K), 3K (100K), 4K (150K). I tested TradeDay since December 2024 with 14K in payouts; intraday is demanding for traders who hold through pullbacks.
The Intraday Trailing Maximum Drawdown is the most active of TradeDay's three drawdown variants. Where Static stays put and EOD adjusts only at session close, Intraday TMD recalculates the trailing line in real time during the session. As equity peaks, the line moves up. As equity dips from peak, the line stays put. Once equity touches the line, the account closes.
I started trading TradeDay in December 2024 across multiple account configurations, accumulating roughly 14,000 dollars in payouts with no currently active account. Both Intraday and EOD variants have been tested across that time. Intraday is genuinely the more demanding of the two for any trader who holds positions through pullbacks, because the peak ratchet keeps tightening the floor whether the trader wanted it to or not. This guide walks the second-by-second mechanics with worked examples and explains the breach scenarios that catch traders new to the variant.
How Intraday TMD trails your account in real time
Intraday TMD pegs the trailing line to your highest equity peak. As equity climbs to a new peak, the line moves up by the same dollar amount, always staying a fixed trail distance below the peak. When equity dips from peak, the line stays at its current position. It only moves up; it never falls.
The Help Center wording: pegged to the highest balance you have had in your account. The trail distance is fixed by account size.
| Account size | Trail distance | Starting line | Percent of starting balance |
|---|---|---|---|
| $50K | $2,000 | $48,000 | 4.0% |
| $100K | $3,000 | $97,000 | 3.0% |
| $150K | $4,000 | $146,000 | 2.7% |
Notice the percentage trail tightens as account size grows. On 50K you have a 4 percent drawdown buffer. On 150K it is 2.7 percent. This means proportionally larger accounts give you less percentage room, which is counter-intuitive but consistent across most futures-prop firms.
Worked example: Day 1 on a $50K Intraday TMD account
The clearest way to see how Intraday TMD behaves is a minute-by-minute walkthrough. The example below uses a 50K Intraday TMD account starting at 50,000 dollars equity with trailing line at 48,000.
Pre-market setup
Account opens at 50,000 dollars. Trailing line at 48,000 (peak is 50,000, trail distance 2,000).
Morning session
9:35 AM, long ES from open, runs to 50,800. Equity peaks at 50,800. Trailing line moves to 48,800.
9:50 AM, partial profit-take, equity now 50,500. Trailing line stays at 48,800 (peak has not been reset).
10:15 AM, second long, runs to 51,500. Equity peaks at 51,500. Trailing line moves to 49,500.
10:40 AM, exit, equity at 51,200. Trailing line stays at 49,500.
Midday and afternoon
11:30 AM, short NQ, runs against the trader, equity dips to 50,100. Trailing line still at 49,500. The trader is 600 dollars away from breach but not breaching yet.
11:45 AM, flat, equity at 50,200.
1:00 PM, long ES, runs to 52,000. Equity peaks at 52,000. Trailing line moves to 50,000, at starting balance. From this moment forward the line is locked at 50,000 for the life of the account.
Session close and beyond
Day 1 close, equity at 51,800. Trailing line locked at 50,000.
Day 2 onward, trailing line is permanently at 50,000. Future peaks do not move it. The account now effectively has a static 50,000 floor.
The lock-in moment is the key event in any Intraday TMD account. Before lock-in, the line is moving with peaks. After lock-in, the line is frozen. The structural ease of the account changes meaningfully between those two phases.
The real-time breach risk
The breach trigger is equity touching the trailing line at any moment during the session. There is no end-of-day grace, no closing-balance averaging, no settlement period. If the tick prints at the line, the account is closed and any open positions auto-liquidate.
Pre-lock-in: the still-trailing trap
This is the most common Intraday TMD breach. Trader's equity peaks at 52,500 mid-week. Trailing line moves to 50,500 (still below starting balance, so still trailing). Trader does not realize the line has moved this far up; they are thinking about the original 48,000 line they signed up at. Today's 1,800 dollar drawdown from 52,300 to 50,500 breaches the account.
The fix is either tracking the trailing line position daily (some traders log it in a spreadsheet at session end) or sizing positions so worst-case retracement from peak still leaves the account above the trailing line.
Post-lock-in: the complacent trap
After lock-in, the line is at starting balance (50,000 on a 50K account). Trader gets comfortable, sizes up positions, and runs into a 5 percent drawdown from peak that takes equity from 54K to 51,300. Account is fine (1,300 above the line). But on a more aggressive day, the same 5 percent drawdown from 52K takes equity to 49,400, which is a breach.
Lock-in makes the account structurally easier, but it does not eliminate breach risk. The trader's responsibility post-lock-in is still managing position sizing relative to the locked floor.
Edge case: news-driven gap on overnight position
If a trader is somehow holding through tier-1 news (which TradeDay's auto-liquidation should prevent), or holding into a session-open gap with a position from the prior session, the gap can move equity through the line in a single tick. This is where Intraday TMD differs structurally from EOD TMD; EOD's intraday-equity-line caveat applies to the active line, but the active line itself is from yesterday's close, sometimes giving a tiny bit more buffer through volatile session opens.
Position sizing on Intraday TMD
The trailing-line behavior interacts directly with position sizing. The math is straightforward: if worst-case stop is X dollars and trail distance is 2,000, the trader has a maximum of 2,000 minus X dollars of buffer above the active trailing line at any moment.
Sizing math on 50K Intraday TMD with a 400 dollar stop on a 1-contract position
- Trail distance: $2,000
- Worst-case stop: $400 per trade
- Max simultaneous risk before line touch: $2,000 minus $400 = $1,600
After a few normal-sized losses (say three 400-dollar stops accumulating to 1,200), the trader is 400 dollars from the line. One more loss before recovery breaches.
The conservative sizing for Intraday TMD on 50K with 2,000 dollar drawdown room: 1 to 2 contracts on liquid products with stops in the 200 to 500 range. Aggressive sizing (4 to 5 contracts) compresses time-to-breach significantly; a 5-tick loss on 5 ES contracts is 625 dollars against the 2,000 dollar trail.
Static accounts have much smaller drawdowns (500 on 50K) but also smaller position limits (1 contract), so per-trade risk math is similar in dollar terms even though the variant looks different on paper.
How lock-in changes the game
The most underappreciated mechanic in Intraday TMD is the lock-in at starting balance. Before lock-in, every new equity peak ratchets the trailing line up; the buffer is constantly being pushed against. After lock-in, the line is frozen, and the buffer is whatever cushion the trader has built above starting balance.
The strategic implication: getting through the first run-up to starting-balance lock-in is the hardest part of an Intraday TMD account. After lock-in, the structural risk drops because the floor is permanent.
Practical breakdown by account size
- $50K account: Lock-in happens when equity peaks at $52,000 (line moves to $50,000). The first $2,000 of cumulative profit is the gauntlet.
- $100K account: Lock-in at $103,000 peak (line at $100,000). The first $3,000 is the gauntlet.
- $150K account: Lock-in at $154,000 peak (line at $150,000). The first $4,000 is the gauntlet.
Once past lock-in, every additional dollar of profit becomes structurally permanent buffer above a fixed floor. This is meaningfully different from prop firms whose drawdowns trail forever; at TradeDay, the structural risk gets easier as you grow, not harder.
Intraday TMD vs EOD TMD: when Intraday wins
Intraday is structurally harder for most trading styles, so when does it actually win over EOD?
Cost advantage
Intraday is 35 to 70 dollars per month cheaper across the three sizes. Over a 6-month evaluation-plus-funded run, that is 210 to 420 dollars in saved subscription fees. If style genuinely fits Intraday's quick-exit cadence, that is real money.
Match for true scalpers
Traders running 30-plus trades per day with sub-minute holds have a quick-cadence style that does not suffer from peak-ratcheting because they are not holding into pullbacks. The Intraday line moves with their style rather than against it.
No EOD-line-still-applies-intraday confusion
Some EOD TMD traders forget that intraday equity must stay above the active line. On Intraday, the line is real-time and visible; there is no surprise about when it activates.
Match for traders who exit at peak
If a trader systematically exits positions at or very near peaks (rather than letting them run with retracement), Intraday's peak-anchoring matches the style.
Cost comparison: Intraday vs EOD vs Static
| Variant | $50K monthly | $100K monthly | $150K monthly | Reset fee $50K |
|---|---|---|---|---|
| Intraday | $87 | $140 | $210 | $80 |
| EOD | $122 | $182 | $252 | $104 |
| Static | $117 | $172 | $242 | Varies |
The Intraday discount over EOD is 35 dollars on 50K, 42 dollars on 100K, 42 dollars on 150K monthly. Over a year that is 420 to 504 dollars per account in saved subscription cost. The discount is meaningful for traders whose style genuinely fits the Intraday peak-anchoring mechanic; it is wasted savings for traders who would actually benefit from EOD's smoother line.
Account size selection on Intraday
Intraday TMD account size selection follows trader-profile guidelines. The matrix below maps sizes to fit profiles.
| Trader profile | Recommended size | Reasoning |
|---|---|---|
| First-time TradeDay user | $50K Intraday | Smallest starting point |
| Working scalper | $50K Intraday | Quick-exit cadence matches |
| Aggressive scaler | $100K Intraday | Larger position capacity |
| Full-time pro | $150K Intraday | Maximum scaling on the variant |
| Holds through pullbacks | Switch to EOD | Style mismatch on Intraday |
The bottom line
Intraday TMD is TradeDay's most demanding drawdown variant for traders who hold positions through pullbacks. Every new equity peak ratchets the trailing line up, and the line never falls; a normal retracement from peak can breach the account if the trader is not tracking where the line currently sits. The lock-in at starting balance gives structural ease later in the account's life, but the first run-up to lock-in is the gauntlet that demands tight position-size discipline.
Intraday wins on cost (35 to 70 dollars per month cheaper than EOD across all sizes) and on match for genuine scalpers exiting in seconds. It loses on style mismatch for any trader who holds through pullbacks expecting the line to wait; the line does not wait. EOD TMD is structurally more forgiving for those traders.
For the comparison framework that helps decide between Intraday, EOD, and Static, see TradeDay drawdown types compared. For the full mechanics across all three variants, see TradeDay maximum drawdown rule. For the broader rule context, TradeDay rules ties the drawdown variants into the rest of the rulebook.
Common Intraday TMD mistakes
Most Intraday TMD failures stem from a small handful of recurring mistakes. Knowing them in advance avoids the most expensive lessons.
Not tracking the trailing line position
Many traders sign up at the original 48,000 line on a 50K account and never recalculate after a few profitable sessions. By the time the trailing line has moved up to 50,200, a normal session retracement breaches without the trader realizing the line moved. Track the line position daily until lock-in.
Sizing as if it were Static drawdown
Static drawdown lets traders size aggressively because the floor never moves. Intraday's ratcheting floor demands tighter sizing during the pre-lock-in phase. Traders who carry Static-sizing habits into Intraday accounts trip the line within the first week.
Overnight gap exposure
Positions held through session close that gap on the next open can move equity through the trailing line in a single tick. Most Intraday TMD traders close all positions before session end specifically to avoid this gap risk.
Overconfidence after lock-in
Post-lock-in feels structurally easier because the floor is permanent. Traders sometimes oversize positions in the comfort zone and run into single-session breaches. Lock-in protects against the ratcheting floor problem; it does not protect against bad sizing decisions.
Trail mechanic comparison: Intraday vs EOD vs Static
The three TradeDay drawdown variants produce different trail behaviors that interact with trading style in specific ways. The matrix below maps the structural differences.
| Variant | Line update | Lock-in trigger | Best for |
|---|---|---|---|
| Intraday TMD | Real-time during session | Peak reaches starting balance | Quick-exit scalpers |
| EOD TMD | End of session only | Closing balance at starting balance | Pullback-tolerant traders |
| Static | Never (fixed at signup) | N/A (always static) | Risk-averse profit builders |
Static is the structurally easiest variant but comes with the smallest position-size limits at TradeDay. Intraday is the structurally hardest but is the cheapest monthly. EOD is the middle ground that fits the broadest range of trader styles.
Account-by-account math: walking the trail in detail
Calculating the trailing line position is a habit worth practicing during the first few weeks of any Intraday TMD account. The math is straightforward.
50K Intraday walked through five sessions
Day 1 close: peak 51,800, line 49,800. Day 2 peak 52,500, line moves to 50,500. Day 3 peak 53,100, line moves to 51,100. Day 4 peak 53,900, line moves to 51,900. Day 5 peak reaches 54,000, line at 52,000 (locked at starting balance plus margin).
By the end of day 5 in this example, the trader has a 2,000 dollar cushion above the locked line. Any future drawdown that takes equity below 50,000 closes the account. The first week's accumulated profit became permanent cushion the moment lock-in triggered.
100K Intraday walked through five sessions
Day 1 close: peak 102,200, line 99,200. Day 2 peak 103,500, line moves to 100,500. Day 3 peak 104,200, line moves to 101,200. Lock-in at 100,000 occurs once peak crosses 103,000. Day 5 peak 105,000, line locked at 100,000.
The 100K account locks at the original 100,000 deposit. After lock-in, future drawdowns below 100,000 close the account. The structural risk drops significantly after lock-in because the floor is permanent.
Funded Live transition: what changes
TradeDay's Funded Sim accounts graduate to Funded Live after specific milestones. The Intraday TMD calculation method stays the same on Funded Live, but several practical differences matter.
- Drawdown resets to the original starting position on Live activation
- The peak-tracking starts fresh on Live
- Position limits remain the same
- Real exchange execution applies on Live
- Live trading costs are real CME fees
- Payout cadence may differ between Sim and Live
Traders who built up significant lock-in cushion on Funded Sim do not carry that cushion to Funded Live. The Live account starts fresh at the trail distance below starting balance, and the trader must build cushion again on the Live side. The structural ease of post-lock-in trading must be re-earned on each Funded Live account.
Intraday TMD in a multi-firm portfolio
Many futures traders run accounts at multiple prop firms simultaneously. Intraday TMD at TradeDay fits specific roles in a multi-firm portfolio.
Pairing with sim-payout firms
TradeDay's Intraday TMD is the strict-discipline slot in a portfolio that also includes sim-payout firms like MyFundedFutures or Topstep. The strictness of Intraday TMD complements the relative looseness of sim-payout frameworks; together they teach different lessons about position sizing and risk management.
Pairing with Static-drawdown firms
Intraday TMD's ratcheting floor is the opposite of Static drawdown's fixed floor. Running both simultaneously gives the trader direct comparison data on how rule frameworks shape trading behavior. Traders who excel at Intraday TMD typically also excel at Static; the reverse is not always true.
Common TradeDay Intraday TMD traps
Beyond the headline still-trailing and complacent traps, several smaller errors recur.
Confusing trail distance with daily limit
Some traders confuse the 2,000 dollar trail distance with a daily loss limit. The trail distance is the buffer between peak and trailing line; it is not a daily-only constraint. The trailing line persists across sessions, so a 2,000 dollar single-day loss combined with an existing buffer dip can be a breach even if the day itself was within typical daily-loss range.
Ignoring trail position after weekend
The trailing line persists through weekends. A Friday close that left the line at 50,500 still applies Monday morning at 50,500. Traders who recalculate their position only on Monday session-open sometimes miss that the line has not reset over the weekend.
Treating Intraday as cheaper EOD
The 35 to 70 dollar per month savings on Intraday versus EOD is real, but the structural cost is the constant peak-ratcheting. Traders who choose Intraday purely for the price savings without considering style fit are choosing into the wrong variant. The cost difference is small enough that style-fit should drive the decision, not subscription savings.
Decision matrix: Intraday vs EOD vs Static at each account size
Choosing the right variant at each account size depends on style match and risk tolerance. The matrix below maps recommendations across sizes.
| Account size | Best for scalpers | Best for hold-through | Best for risk-averse |
|---|---|---|---|
| $50K | Intraday TMD | EOD TMD | Static |
| $100K | Intraday TMD | EOD TMD | Static |
| $150K | Intraday TMD | EOD TMD | Static |
The recommendation is consistent across sizes because the variant fit follows trading style rather than account scale. A scalper benefits from Intraday at any size; a pullback-tolerant trader benefits from EOD at any size; a risk-averse profit-builder benefits from Static at any size.
Intraday TMD edge scenarios
Several edge scenarios specific to Intraday TMD deserve explicit attention.
Holiday-shortened sessions
US futures markets observe shortened sessions before major holidays. Intraday TMD applies the trail calculation during the shortened session window. The line moves as it would during a normal session, just within a compressed time frame. Position sizing should account for the reduced session length.
Holding through Sunday-evening reopen
Futures markets reopen Sunday evening after the weekend break. Positions held through the reopen are subject to gap risk. The Intraday TMD line position from Friday close still applies at Sunday reopen, so a Friday-close gap-down can immediately push equity through the trailing line.
Rolling positions across contract expirations
Quarterly contract expirations (ES, NQ on the third Friday of March, June, September, December) require rolling positions to the next contract. The roll process itself does not affect the trailing line, but the bid-ask spread on the roll can produce a small unrealized loss that interacts with the trail position. Plan rolls before approaching the trail line.
Position-sizing playbook for Intraday TMD
A concrete position-sizing playbook reduces breach rates on Intraday TMD accounts. The four-step playbook below works across all three sizes.
Step 1: Calculate the current trailing line
Find the highest equity peak the account has reached, subtract the trail distance (2K, 3K, or 4K). The result is the current line. Update at end of each session.
Step 2: Set the daily target dollar buffer
Determine how many dollars of cushion you want above the trailing line at any moment. Most disciplined traders target 1,000 to 1,500 dollars of buffer above the line at all times.
Step 3: Convert buffer to position size
Divide the buffer by the typical worst-case-per-trade dollar risk. If buffer is 1,500 and worst-case-per-trade is 300, you can carry up to 5 simultaneous positions before approaching the line.
Step 4: Stop trading when buffer drops below threshold
If buffer drops below half of the initial target (750 instead of 1,500), stop trading for the session. This prevents the buffer from dwindling to a single-trade-away-from-breach state.
Bottom line on Intraday TMD
Intraday Trailing Maximum Drawdown is the most demanding TradeDay drawdown variant and the structurally cheapest. The 35 to 70 dollar monthly savings versus EOD is real, but only matters for traders whose style genuinely fits the quick-exit cadence. For traders who hold through pullbacks, EOD is structurally easier and worth the price premium. The lock-in at starting balance is the key structural transition; before lock-in the floor ratchets against the trader, after lock-in the floor is permanent.
Frequently overlooked Intraday TMD interactions
Several Intraday TMD rule interactions are easy to miss until they affect trading outcomes. The trailing line persists across weekends and holidays, so a Friday-close line position still applies Monday morning even after multiple days of no trading activity. The line tracks the literal highest equity peak, including unrealized profits during open positions; a position that runs to plus 2,000 unrealized before being stopped out at plus 500 still moved the line based on the 2,000 peak rather than the 500 realized profit. The breach trigger is equity touching the line at any moment, not at session close; a momentary intraday tick through the line closes the account immediately even if equity recovers within the same session. The trail distance is fixed by account size and does not change with equity or with lock-in status; the line itself moves while the trail distance stays constant. Funded Live activation resets the line to the original starting position; lock-in cushion built on Funded Sim does not carry over to the Funded Live account.
Frequently Asked Questions
What is TradeDay's Intraday Trailing Maximum Drawdown?
Intraday TMD is one of three drawdown variants TradeDay sells at signup. It pegs the trailing maximum drawdown limit to the trader's highest equity peak in real time. As the account climbs, the trailing line moves up. As equity dips from peak, the line stays where it is; it does not fall. The line continues trailing up until it reaches starting account balance, at which point it freezes there for the life of the account.
When does TradeDay's Intraday TMD line update?
Continuously during the trading session. As unrealized P&L pushes equity to a new peak, the trailing line moves up by the same dollar amount, maintaining the trail distance (2K, 3K, or 4K depending on account size). The update is real-time; the trader can watch the line move in the trading platform if the interface displays it.
What is the trail distance on TradeDay's Intraday TMD?
On a 50K account the trail distance is 2,000 dollars. On 100K it is 3,000. On 150K it is 4,000. The trail distance stays constant; what moves is the trailing line itself, which sits a fixed dollar amount below the highest equity peak. The roughly 4 percent trail on 50K narrows to 3 percent on 100K and 2.7 percent on 150K as a percentage of starting balance.
When does Intraday TMD lock in?
When the trailing line reaches starting account balance. On a 50K account starting at 48,000 trailing, the line locks at 50,000 once peak reaches 52,000. The Help Center wording: trailing max drawdown limits continues to trail account growth until it reaches the starting account balance. After lock-in, the line is permanently at starting balance and the account effectively has a static floor.
What happens if I hit the Intraday TMD line?
The account is closed immediately. The breach trigger is equity touching the trailing line at any moment during the session; open positions auto-liquidate, the account ends, and recovery within the same day is not possible. Unlike EOD TMD where intraday breaches are also fatal but the line itself only updates at close, Intraday TMD's line is moving in real time so traders need to track its current position throughout the session.
Can I use Intraday TMD with copy-trading?
Yes, with the standard copy-trading restrictions. External account copying into TradeDay is allowed. Copying between two or three of your own Funded Sim accounts is allowed. Copying between Funded Sim and Funded Live is forbidden. The drawdown variant does not change the copy-trading rules; those apply equally across Intraday, EOD, and Static.
Does Intraday TMD work the same on funded accounts?
Yes, the calculation method is the same. On graduation from Funded Sim to Funded Live, the drawdown resets to zero; a Funded Live 50K Intraday starts back at the original 48,000 trailing position. The Help Center notes that risk limits may be adjusted to reflect trader withdrawals and balances being sent to the Funded Live account.
What is the worst Intraday TMD mistake?
Holding through a session on Intraday after equity has peaked above starting balance, without realizing the trailing line has moved up. Trader's account peaks at 54K mid-week. Trailing line is at 52K (still trailing). Trader takes a normal 1,500 dollar drawdown back to 52,500; fine on the surface but breaches because the line is at 52K. Switching to EOD TMD or sizing positions so worst-case retracement from peak still leaves the account above the line both fix this.
How fast can the Intraday TMD line move during a session?
As fast as equity peaks. There is no smoothing or moving-average; the line is pegged to the literal highest balance the account has had, even if that peak happened 30 seconds ago. A 500 dollar spike followed by a 400 dollar retracement still moves the line up by 500 (peak set) but leaves it there even after the 400 give-back.
Is Intraday TMD harder than EOD TMD on 50K?
It depends on style. For active scalpers exiting in seconds, the Intraday line ratcheting matches their already-quick cadence; both are similar difficulty. For traders who hold through 30 to 60 minute moves, EOD is structurally easier because the line does not ratchet during the hold. The 35 dollar per month savings on Intraday (87 vs 122 on 50K) becomes economically meaningful only if style genuinely fits Intraday rather than just looking cheaper.
What position size does TradeDay's $50K Intraday support?
Up to 5 contracts. The position limit applies per direction; the trader cannot sidestep it by going long 5 ES and short 5 NQ simultaneously beyond what 5 contracts in either direction allows. The position limit is the same on Intraday and EOD on the same account size; only Static has the smaller 1-contract limit on 50K.
What is the monthly cost of TradeDay's Intraday accounts?
As of April 2026, the sale prices: 87 dollars per month on 50K, 140 on 100K, 210 on 150K. The pre-sale prices are 125, 200, 300 respectively, so the active discount is roughly 30 percent. With code VIBES, an additional 30 percent off plus no activation fee. Reset fees on Intraday are 80, 124, 149 on the three sizes; slightly cheaper than EOD's 104, 124, 149 on 50K only.
Does the trailing line ever fall on Intraday TMD?
No. The line moves up with new equity peaks and stays at its current position when equity dips. The line never falls. This is the structural definition of trailing drawdown. The asymmetric behavior (moves up only) is what makes Intraday TMD demanding for traders who hold through retracements.
How do I track the current Intraday TMD line?
Some trading platforms display the trailing drawdown line natively in the equity-curve chart. If your platform does not, calculate it manually: take the highest equity peak you have reached on the account and subtract the trail distance (2K, 3K, or 4K depending on size). The resulting number is your current trailing line. Update this calculation at the end of each session to catch any peaks that moved the line up.
Does the Intraday TMD line affect funded sim and funded live differently?
The line calculation method is identical on funded sim and funded live. The difference is that funded live resets the line to the original starting position when the account graduates. A funded sim that built up significant lock-in cushion does not carry that cushion to the funded live account; the live account starts back at the original trailing distance.
Can I trade through major news on Intraday TMD?
TradeDay's news-trading rules are independent of the drawdown variant. The drawdown variant affects how the line moves; news rules affect whether trading is allowed during major releases. Both apply simultaneously. Check the news-trading rules separately to understand what trading is permitted during NFP, FOMC, and CPI windows. The variant-specific risk is that a news-driven move can spike equity through the trailing line within seconds.
Is Intraday TMD the right choice for new TradeDay traders?
Not usually. Most new TradeDay traders benefit from EOD TMD because the line updates only at session close, which is more forgiving for traders still developing their hold-through-pullback discipline. Intraday TMD's cost savings are real but only justified for traders whose style genuinely matches the quick-exit cadence. Starting on EOD and switching to Intraday after demonstrating consistent scalping behavior is the standard progression.
