The cost of using the trading platform, either as a one-time or recurring fee.
Some platforms charge a monthly fee, while others offer free access through certain brokers or prop firms. Traders need to factor this cost into their expenses.
A trader pays $99 per month for a premium NinjaTrader license but saves on commissions due to the reduced trading fees for licensed users.
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.