The trailing loss limit (also called the maximum drawdown) on a Spark Evaluation is $1,500 below your highest-ever closed-balance high-water mark. Unlike the static maximum drawdown on other Breakout Evaluations, this limit trails upward as your closed balance reaches new highs, and it continues trailing for the life of the account, including after you are funded.
The limit is recalculated once per day at the 00:30 UTC reset, using your closed balance as of that reset. It is enforced against equity, so open profit or loss counts toward a breach. A breach closes all open positions and forfeits the account; there is no reset, and continuing requires purchasing a new Evaluation.