Seven short lessons for someone who has never placed a trade: what a prop firm is, how to read a chart, and the rules that decide whether you pass. No sign-up needed.
Lesson 1 of 7 · 2 min
What a prop firm is
A prop (proprietary) trading firm lets you trade an account it provides instead of risking your own savings. You pay a one-time fee to take an evaluation: a simulated account with clear rules.
01Pay onceA one-time fee. That's the only money you put in.
02EvaluationTrade a simulated account on live prices. Hit the target, respect the limits.
03PassNo minimum days. A funded account opens the same day.
04Get rewardedRequest an 80% reward share on the funded stage.
Fee in, evaluation, pass, reward. Every step is on a public record.
Hit the profit target without breaking a loss limit and you pass. You then trade a funded account and keep most of the profit you make. At MyPropCapital that share is 80%, paid as rewards, and every account and reward is on a public record.
The accounts are simulated, but the prices are the live ones from real order books, so every fill behaves the way a real one would.
RememberYou are not depositing trading money. The fee is the only money you put in.
Lesson 2 of 7 · 3 min
Reading a candle
A candlestick shows what price did over one slice of time: one minute, fifteen minutes, one hour. Each candle has four prices: where it opened, the highest and lowest it reached, and where it closed.
Green: closed higher than it opened. Red: closed lower. Wicks show where price went and got pushed back.
The thick part (the body) runs from open to close. Green means it closed higher than it opened, red means lower. The thin lines (wicks) show how far price stretched before coming back.
Long bodies mean one side was in control. Long wicks mean price was pushed somewhere and rejected. Zoom out to a bigger timeframe before you decide anything: one red minute means little inside a rising day.
RememberOpen, high, low, close. Body = where it ended up, wicks = where it tried to go.
Lesson 3 of 7 · 3 min
Long, short, bid and ask
Going long (Buy) means you profit if price rises. Going short (Sell) means you profit if price falls. On our terminal both are one tap.
Long wins when price rises, short wins when it falls. You always buy at the ask and sell at the bid.
There are always two prices: the bid (what buyers pay, where you sell) and the ask (what sellers want, where you buy). The gap between them is the spread, and it is a cost you pay the moment you enter.
That is why a trade usually starts slightly negative. Markets with tight spreads and deep books, like BTC or gold, cost less to trade in and out of.
RememberBuy at the ask, sell at the bid. The spread is your first cost.
Lesson 4 of 7 · 3 min
Leverage and margin
Leverage lets a small amount of margin control a bigger position. At 10x, $300 of margin controls $3,000 of BTC. A 1% move in BTC is then a $30 gain or loss.
Your margin
$300
Position at 10x
$3,000
Market moves1%
→
Position moves$30
→
Your margin moves10%
Leverage doesn't change the market's move. It changes what each move is worth to you.
Leverage does not change how much the market moves. It changes how much each move is worth to you. That is why leverage is where most new traders lose an account: the same 1% move that felt small becomes 10%.
Our accounts allow up to 10x. Using less than the maximum is normal, and most consistent traders do.
RememberLeverage multiplies your result in both directions. Size the position, not the dream.
Lesson 5 of 7 · 3 min
Risk per trade and the stop loss
Before you enter, decide where you are wrong. Put your stop loss there. Then size the position so that hitting the stop costs a small, fixed slice of the account. Many traders use 0.25% to 1% per trade.
Pick the stop first. With the target twice as far as the stop (1 : 2), you can be wrong more often than right and still grow.
A take profit closes the trade when your target is reached. If your target is twice as far as your stop (a 1:2 risk-to-reward), you can be wrong more often than you are right and still grow the account.
News like CPI or NFP can move price several times further than a normal minute. New traders often stay flat through those releases, or trade them with a smaller size.
RememberPick the stop first, then the size. Never the other way round.
Lesson 6 of 7 · 3 min
How evaluation rules work
Every evaluation has a profit target and loss limits. Take the giveaway's $3,000 account: the target is 8% ($240), the daily loss limit is 1% ($30 from where you started the day), and the max loss is 3% ($90 below the starting balance, and it never moves).
Target 8% ($240). Daily limit 1% ($30) from wherever the day starts. Max loss 3% ($90) below the start, and that line never moves.
Touch a loss limit and the account closes, so the limits decide your position sizes. With a $30 daily limit, risking $10 per trade gives you room for three losing trades in a day.
There is no minimum number of trading days and no time limit, so there is no reason to rush. Reach the target at your own pace.
RememberYour loss limits are your real account size. Plan every trade around them.
Lesson 7 of 7 · 3 min
Your first plan
Open a free $100K demo on our terminal. Same live prices, same rules engine, nothing to pay. Pick one or two markets and one timeframe and learn how they move.
Trade #12GOLD · 15m · Long
Why
Broke above the morning high, came back and held it.
Stop
Below the retest low. Risk 0.5% of the account.
Target
2R, just under yesterday's high.
After
Target hit. I waited for the retest instead of chasing. Keep doing that.
Three lines before the trade, one line after. Ten of these teach more than a hundred random trades.
Write a three-line plan before every trade: why you are entering, where the stop is, where you take profit. After the trade, write one line on what happened. Ten of these teach more than a hundred random trades.
When your demo trades follow your plan for a couple of weeks, you are ready for an evaluation, or for the giveaway account if you win one.
RememberPractise for free, keep a journal, and only then take a challenge.
You've finished the basics
Put it into practice on a free demo, then enter this week's draw for a free $3,000 evaluation.