Both the Day Trade and Swing programs have a maximum drawdown of 4%, which is calculated from your highest midnight balance or equity.
Not the account’s initial balance.

Example:
You start with $50,000 and end Day 1 up $200, for a midnight balance of $50,200. Your drawdown limit is now $48,200 (4% below that balance).
On Day 2, you have a small $100 loss, bringing your balance to $50,100. Your limit stays exactly where it was  ($48,200) since that’s still based on your highest point.