Hold positions through the overnight session without forced liquidation or penalties.
DayTraders, Take Profit Trader, and several others allow holding through the overnight session at the trader's risk.
Yes. Gap risk is real, and a large overnight move can breach your drawdown. Most firms that allow it do so at your own risk.
Yes. Any adverse overnight move counts against your max drawdown. EOD trailing firms only update the floor at market close, which helps.