Workflow working


Hi there ;

i would like to ask that ;

at picture tha ti attached s you see to start a workflow , there is daily option.Normally i use "when triggered" , know that when issue trigers it is working , but if i choose daily option when system is controlling that this workflow start , is it working like that ? for example on a specific time daily system checking if it trigerring or not ? and what time is it that specific time ?

Thanks in advance for your kind supports.