How to Pass a Prop Firm Challenge
And How to Know Before You Pay. A book by Shaun Greenwood, who built PropPassCheck.
Most people who buy a prop firm challenge lose the fee. They don't lose it because the firm cheated them. They lose it because they paid before they knew whether their strategy could pass.
This book shows you how to find out first. It has no strategy for sale and recommends no firm. It is the arithmetic of passing, in plain English, with every sum worked through.
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What you'll learn
- What every rule really measures, and which kind of trader each one catches
- How to tell whether your strategy has an edge, and how many trades it takes to prove it
- How much to risk on each trade, worked out from the firm's own limits
- Why a pass can be pure luck, and how to tell if yours was
- How to choose a firm that fits your strategy and pays what you earn
- How to test your own trades against a challenge before you buy it
- What changes once you are funded, and how to keep the account long enough to be paid
What's inside
- Why most challenges are failed
- How prop firms work
- The rules that decide it
- The rules in the small print
- Edge first
- The shape of your results
- How much to risk per trade
- Passing by luck
- Choosing a firm
- Taking the challenge
- After the pass
- Test your own strategy before you pay
- Questions traders ask
It ends with a checklist to run before you pay for any challenge, the sums on one page, and a glossary.
The book and this site
The book explains the reasoning. PropPassCheck does the sums for you: the test centre runs your own trade history against a firm's rules, the prop firm directory keeps those rules dated and checked, and the calculators cover position size, drawdown and the odds of passing. You can use the site without the book, and the book without the site.
About the author
Shaun Greenwood trades prop firm accounts and built PropPassCheck, which takes no money from any prop firm. More about who runs the site.