Activation Fee
A fee some prop firms charge after an evaluation is passed or when a funded-stage account is activated.
Trading Glossary
Futures trading terms in plain English.
A quick-reference glossary for futures, market structure and prop-firm terminology.
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Data reviewed: September 11, 2026
Prices, discounts and rules can change.
Always verify the official provider checkout
and current rules before purchase.
Ask
The lowest currently available price at which a seller is offering a contract.
Bid
The highest currently available price a buyer is offering for a contract.
Breakout
A move through a commonly watched price boundary, range edge or technical level.
Consistency Rule
A prop-firm rule that can limit how much of total profit may come from a single trading day.
Daily Loss Limit
The maximum loss allowed during a defined trading day before a rule violation occurs.
Drawdown
The amount an account can decline from a reference balance or equity level before a limit is breached.
EOD Drawdown
A drawdown level typically recalculated from end-of-day balances rather than every intraday price movement.
Evaluation
A qualification stage where defined objectives and rules must be met before reaching a funded-stage account.
Fair Value Gap (FVG)
A trading term for a price area where the market moved quickly with relatively little two-way trading.
Futures Contract
A standardized exchange-traded contract linked to an underlying market.
Limit Order
An order specifying the worst price the trader is willing to accept.
Liquidity
How easily a market can absorb orders without large changes in price.
Liquidity Sweep
A common term for price briefly moving beyond a visible high or low before the market reacts.
Margin
Capital required to hold a futures position. It is not the full notional value of the contract.
Market Order
An instruction to buy or sell immediately at the best available market price.
Maximum Drawdown
The largest permitted account decline under a specific rule set.
MNQ
Micro E-mini Nasdaq-100 futures, with one-tenth the multiplier of NQ.
NQ
E-mini Nasdaq-100 futures.
Payout
A withdrawal from eligible trading profits under a prop firm's payout rules.
Profit Target
A required profit amount that may need to be reached during an evaluation.
Range
A market condition where price repeatedly trades between an upper and lower area.
Reset Fee
A fee paid to restart or reset an evaluation where the provider supports resets.
Resistance
A price area where selling interest has previously appeared or may increase.
Retest
A return toward a recently broken price level.
Rithmic
Trading-data and order-routing technology commonly supported by futures prop firms.
Scaling
Increasing or decreasing position size gradually rather than all at once.
Slippage
The difference between an expected execution price and the actual fill price.
Stop Loss
An order or predefined level intended to close a position when price moves against it.
Support
A price area where buying interest has previously appeared or may increase.
Tick
The minimum price increment in which a futures contract can move.
Tick Value
The monetary value of one minimum price movement in a futures contract.
Trailing Drawdown
A drawdown limit that can move upward as account performance reaches new highs.
VWAP
Volume-Weighted Average Price, an intraday reference that weights traded prices by volume.