Drawdown in Forex is the difference between the initial balance and the current account Equity. When your Equity balance is lower than your initial balance, it means you are in a Drawdown. For example, you start trading with a net balance of 100,000 US Dollars, then you see that your Equity balance is now 95,000 Dollars. This means, the amount of Drawdown in your Forex is 5,000 US Dollars