1. Treat the eval as a constrained optimization, not a trading problem
Your edge is one input. The firm's ruleset is another. The right risk-per-trade depends on both. A 60% strategy with 1:1 R/R might want 1.5% risk on FTMO and 0.5% on a 4% trailing-drawdown firm — same strategy, different optimum.
2. Size for daily loss, not for target
Beginners size for "how fast can I hit 10%?". Survivors size for "what's the largest losing day my plan can absorb?". If your daily loss limit is 5% and you take 3 trades a day, your per-trade risk ceiling is about 1.5% — assuming the worst case all three lose. Most accounts breach daily-loss in the first 5 days because they sized for upside.
3. Know whether your drawdown is static or trailing
Static drawdown (FTMO, Topstep) is forgiving: the line is fixed at start. Trailing drawdown ratchets up with every new equity high — so a profitable week can reduce your room to lose. On a 6% trailing drawdown, hitting 4% profit means you now have 2% of headroom, not 6%. Plan position sizing around the worst case, not the start case.
4. Don't ignore the consistency rule
Consistency rules cap any single day at 30–50% of total profit on payout. If your strategy has occasional big winners (news days, breakouts), you can hit target and still be denied at payout. The fix: scale down on big days once you've hit your daily target, or extend the eval by one more week to dilute the percentage.
5. Simulate before you pay
Spreadsheets can't model path dependency. A $540 FTMO challenge with a 25% honest pass rate has an expected cost-per-funded-account of about $2,160. If you bought blind on a 12% rate strategy, that number doubles. Run 10,000 simulations against the real ruleset first — it's cheaper to find out in software than in capital.
Common mistakes that kill evals
- Sizing for the profit target instead of the daily-loss cap.
- Treating trailing drawdown as static — assuming you always have full headroom.
- Ignoring consistency on payout. Hitting target means nothing if 70% came from one day.
- Rushing the minimum trading days. Forcing trades on quiet days adds drawdown without adding edge.
- Buying back in immediately after a fail. Take the time to find what actually breached.
Pick the firm that fits your strategy, not the cheapest one
High win-rate scalpers benefit from tight daily-loss firms. Swing traders with bigger R-multiples want static drawdown and no consistency rule. Compare the major firms against your strategy before purchasing.