Daily Loss is calculated on net P&L starting at the beginning of the session (5PM, CT). It will include all fees and commissions as well as realized and open P&L. This value is monitored in real-time. When your Daily Loss reaches the amount entered, your working orders will be canceled and your position will be liquidated. You will be unable to place trades from this account unless this value is raised or disabled.
To enable the Daily Loss Limit feature, first navigate to Application Settings.
Open the Accounts tab and click on the Risk Settings button.
This will expand a detail section including your Daily Loss limit. Activate the toggle next to Daily Loss and enter a value.