End-of-day (EOD) drawdown
A trailing drawdown that updates its floor only from the balance at the daily close, not from intraday highs.
If a trade runs up during the day and comes back before the close, an end-of-day rule ignores the intraday high. The floor only rises when a day closes above the previous highest close. That makes it gentler than intraday trailing.
The breach itself is often still checked during the day against live equity, so you can fail intraday even though the floor only moves at the close. Check when your firm’s day ends: it is usually a fixed time in a stated time zone.
Related
General definition. Rules differ between firms and change over time; your firm’s current terms always take precedence.