The software used for executing trades, accessing market data, and managing trading accounts.
Choosing the right platform affects execution speed, charting capabilities, and order management. Some prop firms limit traders to specific platforms.
A trader uses NinjaTrader for its advanced order flow tools and TradingView for charting, ensuring they have a robust setup for executing trades.
A financial instrument is the entity being bought and sold while trading.
A firm that provides traders with capital to trade financial instruments, such as futures. Traders retain a percentage of the profits they generate, while the firm assumes the risk.
The specific account or evaluation package offered by the prop firm. Plans vary in account size, evaluation difficulty, profit targets, and rules.
A smaller-sized futures contract (e.g., 1/10th the size of a standard contract), which allows for more flexible risk management.
The standard-sized futures contract traded in the market.