Preparing for a prop firm challenge starts with mastering your risk management and knowing every detail of the drawdown and daily loss rules before you place a single trade.
Here is a simple checklist to get ready: - Define your risk per trade: Never risk more than 0.5% to 1% of your account balance on a single setup to protect your daily limit. - Read the evaluation conditions: Understand consistency rules, news restrictions, and profit targets completely. - Test your strategy: Make sure your edge works under strict conditions.
How do you usually structure your trading plan before starting a new evaluation? Share your routine below!