Prop firm rules that change your strategy

Firms like FTMO, Apex, and TopStep are often compared as brands, but the trader-relevant differences are structural: how the drawdown is calculated, whether it trails, and when it updates. Because each firm offers multiple account types and changes terms over time, the only durable approach is to design around the rule mechanic, not the logo. Always verify the current rules of your specific account directly with the firm.

Static vs trailing drawdown

A static drawdown sets a fixed floor that never moves — simple, predictable, forgiving of a strong start. A trailing drawdown raises the floor as your balance grows, which protects the firm but means giving back profits can pull the limit up under you. These demand different sizing: trailing rewards banking gains and closing strong.

Intraday vs end-of-day trailing

Among trailing accounts, the timing is decisive. Intraday (real-time) trailing tracks your live equity, so deep intraday heat — even on a trade that recovers — can breach you. End-of-day trailing locks to the closing balance and is far more forgiving of intraday swings. The same strategy can be safe under one and fatal under the other.

The practical takeaway

Before you trade a firm, identify the drawdown type, the trailing timing, the daily loss limit, and the consistency rules. Then size for the strictest of them. Our default model targets EOD-trailing accounts; if your firm tightens the rules, the sizing preset has to change with it. Don't assume — verify, because these terms move.