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Glossary

Prop trading terms, defined against real firm data

Plain-English definitions of the prop firm rules and terms that decide whether a trader passes, keeps an account, or gets paid.

10 terms

C

Consistency RuleWhat the consistency rule means at prop firms, how it's calculated, and why one big trading day can delay your payout.

D

Daily Loss LimitWhat a daily loss limit is, how prop firms calculate it, and why breaching it ends a challenge or funded account instantly.

I

Instant FundingWhat instant funding means at prop firms: skip the evaluation, trade a funded account from day one, and what rules still apply.

M

Maximum LossWhat maximum loss means in a prop firm challenge, how static and trailing drawdown rules differ, and why breaching it ends your account.

N

News Trading RestrictionWhat a news trading restriction means at prop firms, why it exists, and the misconception traders get wrong about blackout windows.

O

One-Step ChallengeWhat is a one-step challenge? Learn how single-phase prop firm evaluations work, how they differ from two-step models, and what traders get wrong.

P

T

Two-Step ChallengeWhat a two-step challenge is, how Phase 1 and Phase 2 differ, and the common misconception traders have about it.

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