You take a few losses and then the platform refuses any new position for the rest of the day, though existing positions can still be managed.
You have reached the account's daily loss limit. The firm's risk layer blocks new exposure until the daily counter resets.
The daily loss limit is measured continuously by the firm, not by the platform interface you are looking at. That is why you can see an apparently healthy balance while the platform refuses orders: the limit may be measured from the day's opening equity, or may include floating losses that your balance figure does not reflect.
Because the measure and the reset time vary from firm to firm, guessing at them is how traders breach accounts they thought were safe.
After the firm's stated reset time, a small test order in a normal market session is accepted. If it is, the daily lock was the cause.
Write down your firm's reset time in your own time zone and the exact measure they use. Set your own stop level well inside the firm's limit so ordinary variance never reaches it.
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