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Notes on prop firms, written for traders

Short, neutral posts on the parts of a prop firm program that actually determine whether you can pass it, get paid, and stay funded.

  1. ·Payouts·5 min read

    Consistency Rules Explained

    Consistency rules are the most common reason traders fail to withdraw money they have already earned. Here is how the rule works, why firms enforce it, and how to plan trades around it.

  2. ·Risk rules·6 min read

    EOD vs Trailing Drawdown Explained

    Trailing and end-of-day drawdown rules look similar in marketing copy but behave very differently while you trade. Here is what changes, and how each one shapes your sizing decisions.

  3. ·Getting started·9 min read

    How to Choose a Prop Firm: A Complete Decision Framework

    A practical framework for choosing a futures prop firm: the six factors that actually determine whether a program is a fit, and the order to weigh them in.

  4. ·Payouts·7 min read

    How to Evaluate a Prop Firm's Payout Terms

    Profit splits are the headline number, but they are rarely what determines how much you actually take home. Here is how to read past the marketing and find the real economics.

  5. ·Account selection·8 min read

    Prop Firm Evaluation vs Direct-to-Funded: Which Should You Buy?

    Evaluation accounts are cheaper but slower. Direct-to-funded accounts trade live capital immediately but cost more and run stricter rules. Here's how to pick the right path.

  6. ·Evaluation strategy·7 min read

    Prop Firm Profit Targets: How to Set a Realistic Pass Plan

    Profit targets look simple — hit a dollar amount without busting. In practice they interact with risk rules in ways that shape how you should actually plan your sessions.

  7. ·Risk rules·6 min read

    Prop Firm Reset Fees Explained: When to Reset, When to Walk Away

    Reset fees are cheaper than buying a new evaluation — but only sometimes. Here's how to decide whether the economics of a reset actually work in your favor.

  8. ·Evaluation strategy·7 min read

    Top 7 Reasons Traders Fail Prop Firm Evaluations

    Most traders who fail prop firm evaluations fail for the same handful of reasons. Here's the list, ranked by frequency, with what to do differently on your next attempt.