Guide
How to Use PropFirmSim
From account creation to optimised risk — everything you need to get started.
On This Page
1. Getting Started
Get from zero to your first simulation in under 5 minutes:
- Create an account — Sign up with email or Google. Accept the Terms of Service and Financial Disclaimer.
- Open the Simulator — After login, you're taken directly to the simulator dashboard.
- Import your trades — Go to the “Import Data” tab and upload a CSV of your trading history.
- Configure firm rules — Select a firm preset (FTMO, TopStep, etc.) or set custom rules.
- Run your simulation — Switch to “Single Run” and hit simulate. See your pass rate instantly.
2. Importing Your Trades
The import tab accepts CSV files from most trading platforms. Here's what you need to know:
Required Columns
At minimum, your CSV must contain a PnL (Profit/Loss) column — the dollar amount gained or lost per trade.
Recommended Columns
For accurate drawdown simulation, include MAE (Maximum Adverse Excursion) and MFE (Maximum Favourable Excursion). These allow the simulator to check intra-trade drawdown rules that many firms enforce.
Auto-Detection
The importer auto-detects common column names including:
PnL, Profit, Net Profit, P/L, MAE, Max Adverse, MFE, Max Favorable, Date, Time, Symbol, Instrument
Data Cleaning
The importer automatically handles common issues like extra header rows, trailing commas, mixed date formats, and currency symbols in numeric fields. If something looks off after import, check the data preview table for any rows flagged with warnings.
3. Understanding Each Tab
📥 Import Data
Upload your CSV, map columns, preview data, and configure the data source for all other tabs.
▶️ Single Run
Run a single simulation with your current settings. See pass/fail result, equity curve, drawdown chart, and detailed statistics. Best for quick checks.
📊 Rolling Start
Tests every possible start date in your data. Shows how your pass rate varies by entry timing. Reveals whether your edge is consistent or depends on when you started.
⚖️ Compare PRO
Run the same trade data against multiple firm configurations simultaneously. Side-by-side pass rates, EV, and ROI comparison.
📈 Break-Even PRO
Binomial probability model showing the number of challenge attempts until you're statistically profitable, given your pass rate and the firm's cost structure.
🔍 Risk Sweep PRO
Grid search from 0.5x to 3.0x risk multiplier. Find the optimal position size that maximises your expected value without destroying your pass rate.
4. Selecting Your Risk Level
What Does “Risk Level” Mean?
When you backtested your strategy, you used a specific position sizing method — a fixed percentage of the account, a flat dollar amount, or a set number of contracts. The risk level setting tells PropFirmSim how your trade data was generated so it can accurately scale P&L, MAE, and MFE to match the prop firm's account size.
Think of it this way: your CSV contains raw P&L numbers. The simulator needs to know what risk assumption produced those numbers so it can answer “what would happen if I traded this strategy on a $100K prop firm account?”
Which Mode Should I Choose?
Risk % — Most Common
Use this if your backtest risked a percentage of the current account balance per trade — meaning risk compounds as the balance grows or shrinks. This is the default in most strategy builders like StrategyQuant X, MetaTrader, and NinjaTrader.
Example: You backtested with 1% risk per trade (compounding)
Your backtest account: $50,000
Risk per trade: 1% of current balance (changes each trade)
Prop firm account: $100,000
→ Select Risk % mode, set to 1%
→ Simulator scales: 1% of $100,000 = $1,000 risk on first trade
→ After winning $2,000: 1% of $102,000 = $1,020 risk on next trade
⚠ Important: If your backtest used “1% risk” but calculated from the starting balance only (not compounding), you should use Fixed $ mode instead. See the “Compounding vs Fixed-Dollar Risk” section below.
Fixed $ — Flat Dollar Risk
Use this if your backtest risked the same dollar amount on every trade regardless of account size.
Example: You always risked $500 per trade
Your backtest: $500 risk per trade (flat)
Prop firm account: $100,000
→ Select Fixed $ mode, enter $500
→ P&L stays as-is since risk is already in dollar terms
→ Effective risk: $500 ÷ $100,000 = 0.5% of account
Fixed Lots — Constant Contracts
Use this if your backtest traded a fixed number of contracts or lots on every trade.
Example: You always traded 2 NQ contracts at $250/point
Your backtest: 2 contracts × $250 risk per lot = $500 total risk
Prop firm account: $100,000
→ Select Fixed Lots, set 2 lots and $250/lot
→ Effective risk: $500 ÷ $100,000 = 0.5% of account
Multiplier — Scale Up or Down
Use this to test different position sizes relative to your base risk. Great for “what-if” scenarios.
Example: Your base is 1% risk — test trading at half or double size
Base risk: 1% per trade
Multiplier 0.5× → 0.5% per trade (half size, more conservative)
Multiplier 1.0× → 1.0% per trade (unchanged)
Multiplier 2.0× → 2.0% per trade (double size, more aggressive)
The Risk Sweep tab automates this across a range of multipliers.
⚡ Compounding vs Fixed-Dollar Risk — Why It Matters
This is a subtle but critical distinction that trips up many traders. When someone says “I backtested at 1% risk,” there are actually two different things they could mean:
1% of Current Balance (Compounding)
Risk changes every trade as the account grows or shrinks.
Starting balance: $100,000
Trade 1: Risk = 1% × $100,000 = $1,000
After +$3,000 win → Balance: $103,000
Trade 2: Risk = 1% × $103,000 = $1,030
After -$2,000 loss → Balance: $101,000
Trade 3: Risk = 1% × $101,000 = $1,010
→ Use Risk % mode in PropFirmSim
1% of Starting Balance (Fixed Dollar) ✦ Recommended
Risk stays flat at $1,000 every single trade, no matter what.
Starting balance: $100,000
Trade 1: Risk = 1% × $100,000 = $1,000
After +$3,000 win → Balance: $103,000
Trade 2: Risk = 1% × $100,000 = $1,000
After -$2,000 loss → Balance: $101,000
Trade 3: Risk = 1% × $100,000 = $1,000
→ Use Fixed $ mode set to $1,000
Why We Recommend Fixed-Dollar for Prop Firm Challenges
Predictable drawdowns. With compounding, your dollar risk increases as you win — which sounds great, but it also means your drawdowns get larger in dollar terms right when a trailing DD floor is tightening against you. A winning streak can actually make it harder to finish the challenge.
Clean baseline analysis. Fixed-dollar risk isolates your strategy's actual edge without the noise of compounding. Every trade risks the same amount, so your results directly reflect the strategy — not the compounding math on top of it.
Simpler recovery math. With compounding, after a drawdown your risk shrinks, meaning you need proportionally bigger moves just to recover. With fixed-dollar risk, a $1,000 loss always requires one $1,000 win to recover — regardless of where the account sits.
Challenges are short. Compounding benefits emerge over hundreds of trades. Most prop firm challenges last 30–60 days with perhaps 30–100 trades. Over that window, the compounding effect is marginal at best and can introduce misleading variance.
Practical Example: The Difference in Action
Strategy: 55% win rate, 1.5:1 reward-to-risk | FTMO $100K, 10% max DD
Compounding (Risk %):
After 5 wins, risk grows to ~$1,050/trade. A 5-trade losing streak now costs ~$5,250.
Peak was ~$107,500 → trailing DD floor if applicable would be tightening.
The account is fighting against its own success.
Fixed Dollar (Fixed $):
Every trade risks exactly $1,000. A 5-trade losing streak always costs $5,000.
Drawdowns are predictable: worst case = max consecutive losses × $1,000.
Pass/fail is determined purely by the strategy's edge, not by compounding noise.
Common Mistakes
Backtested at 2% but selected 1% — All results will be halved. Pass rate will appear higher than reality (less drawdown), but profit figures will be too low. You'll underestimate both risk and reward.
Backtested “1% risk” from starting balance but selected Risk % — Risk % compounds with the account balance, but your backtest used a flat dollar amount. Select Fixed $ mode instead and enter the dollar value (e.g. $1,000 for 1% of $100K). This is one of the most common mistakes.
Used fixed lots but selected Risk % — The scaling math is completely different. Fixed lots don't scale with account size, so applying percentage-based scaling will distort every metric.
Not sure what risk was used — Check your backtest settings. In StrategyQuant X, look under Money Management. In MetaTrader, check the Expert Advisor's lot size or risk parameter. If you truly can't determine it, use Fixed Lots mode with 1 lot — this passes your raw P&L through unscaled.
Quick Decision Flowchart
Q: Did your backtest risk a % of account per trade?
→ Yes → Use Risk % mode, enter the percentage
→ No ↓
Q: Did your backtest risk a flat dollar amount per trade?
→ Yes → Use Fixed $ mode, enter the dollar amount
→ No ↓
Q: Did your backtest use a fixed number of lots/contracts?
→ Yes → Use Fixed Lots mode, enter lots + risk per lot
→ No ↓
Q: Want to test different sizes relative to your base?
→ Yes → Use Multiplier mode
5. How Calculations Work
Understanding exactly how the simulator checks each rule helps you interpret results and make better decisions. Below are worked examples for every key calculation.
Static Max Drawdown
A static (or fixed) drawdown sets an absolute floor based on your starting balance. If your equity ever touches this floor — even momentarily during a trade — the challenge fails.
Example: $100,000 account, 10% max drawdown
DD Floor = $100,000 × (1 - 0.10) = $90,000
Trade sequence:
Trade 1: Win $3,000 → Balance: $103,000 ✓ above $90k
Trade 2: Win $5,000 → Balance: $108,000 ✓ above $90k
Trade 3: Lose $12,000 → Balance: $96,000 ✓ above $90k
Trade 4: Lose $7,000 → Balance: $89,000 ✗ below $90k — FAILED
The floor never moves. It doesn't matter that the account peaked at $108k — the floor stays at $90k.
Trailing Max Drawdown
A trailing drawdown ratchets up as your account hits new highs. The floor is always calculated as the highest balance reached minus the drawdown amount. This means profits reduce your margin for error.
Example: $100,000 account, $6,000 trailing drawdown
Starting Floor = $100,000 - $6,000 = $94,000
Trade sequence:
Trade 1: Win $2,000 → Balance: $102,000 → New peak! Floor: $102k - $6k = $96,000
Trade 2: Win $3,000 → Balance: $105,000 → New peak! Floor: $105k - $6k = $99,000
Trade 3: Lose $4,000 → Balance: $101,000 ✓ above $99k
Trade 4: Lose $3,000 → Balance: $98,000 ✗ below $99k — FAILED
The floor moved from $94k → $96k → $99k as the peak increased. Even though the account only lost $7k total from the peak, the trailing floor caught up.
Daily Drawdown
Daily drawdown limits how much you can lose in a single trading day. The floor resets each day based on your start-of-day (SOD) balance. Critically, this is checked intraday using MAE — if your unrealised loss breaches the limit during a trade, you fail even if the trade later recovers.
Example: $100,000 account, 5% daily drawdown
Day starts at $100,000
Daily DD Floor = $100,000 × (1 - 0.05) = $95,000
During the day:
Trade 1: Win $1,000 → Balance: $101,000 ✓ Floor still $95k (based on SOD)
Trade 2: Entry at $101,000
→ During trade, unrealised loss dips to -$6,500 (MAE)
→ Intraday equity: $101,000 - $6,500 = $94,500 ✗ below $95k — FAILED
→ Trade closes at -$2,000 → Final balance: $99,000
Even though the closing balance ($99k) is above the floor ($95k), the intraday low ($94.5k) breached it. This is why MAE data is critical for accurate simulation.
Profit Target
You pass the challenge when your balance exceeds the starting balance by the target percentage, provided you also meet minimum day and trade requirements.
Example: $100,000 account, 10% profit target, 5 minimum trading days
Target Balance = $100,000 × (1 + 0.10) = $110,000
Trade sequence:
Day 1: Win $4,000 → Balance: $104,000 (need $110k)
Day 2: Win $3,500 → Balance: $107,500
Day 3: Win $3,000 → Balance: $110,500 → target hit but only 3 days traded
Day 4: Lose $500 → Balance: $110,000
Day 5: Win $200 → Balance: $110,200 ✓ target met + 5 days — PASSED
The target was reached on Day 3 but the pass wasn't confirmed until the minimum trading day requirement (5 days) was also met.
Consistency Rule
Some firms require that no single trading day accounts for more than a certain percentage of your total profit. This prevents traders from passing on one lucky trade.
Example: 30% consistency rule, $10,000 total profit
Max allowed per day = $10,000 × 0.30 = $3,000
Daily P&L breakdown:
Day 1: +$2,500 ✓ under $3k
Day 2: +$1,800 ✓ under $3k
Day 3: +$4,200 ✗ exceeds $3k — FAILED CONSISTENCY
Day 4: +$1,500
Even though the trader hit the profit target, Day 3's profit ($4,200) exceeds 30% of total profit ($3,000), so the challenge fails the consistency check.
Expected Value (EV) per Attempt
Expected value tells you the average profit or loss per challenge attempt over the long run. A positive EV means the challenge is mathematically worth taking.
Example: 65% pass rate, $8,000 average profit when passing, $540 challenge fee
EV = (Pass Rate × Avg Profit) - (Fail Rate × Fee)
EV = (0.65 × $8,000) - (0.35 × $540)
EV = $5,200 - $189 = +$5,011 per attempt
On average, each challenge attempt is worth $5,011. Over 10 attempts, you'd expect ~$50,110 in profit.
Break-Even Pass Rate
The minimum pass rate needed for the challenge to have zero expected value (neither profitable nor unprofitable).
Example: $540 challenge fee, $8,000 average profit when passing
Break-Even Rate = Fee ÷ (Fee + Avg Profit)
Break-Even Rate = $540 ÷ ($540 + $8,000)
Break-Even Rate = $540 ÷ $8,540 = 6.3%
You only need to pass 6.3% of attempts to break even. Any pass rate above this means positive expected value.
MAE & MFE (Intraday Excursion)
MAE (Maximum Adverse Excursion) is the furthest a trade went against you before closing. MFE (Maximum Favourable Excursion) is the furthest it went in your favour. These measure intraday risk, not just the closing P&L.
Example trade
Entry price: $150.00 (long 100 shares)
During trade: price dips to $148.00 then rallies to $154.00
Exit price: $153.00
MAE = ($148.00 - $150.00) × 100 = -$200 (worst point)
MFE = ($154.00 - $150.00) × 100 = +$400 (best point)
P&L = ($153.00 - $150.00) × 100 = +$300 (closing)
The closing P&L shows +$300, but the account was down $200 at one point. PropFirmSim uses MAE to check drawdown rules at the intraday level — this is how real prop firms enforce their limits.
6. Reading Your Results
Key Metrics
Pass Rate — Percentage of simulated challenges that met all rules. Higher is better, but context matters (a 60% pass rate with high EV can be excellent).
Expected Value (EV) — Average profit per challenge attempt, factoring in both wins (profit share) and losses (challenge fee). Positive EV means the challenge is +EV for you over many attempts.
ROI — Return on investment per attempt. EV divided by challenge cost, as a percentage.
Max Drawdown — The largest peak-to-trough decline in the simulated equity curve. Critical for assessing whether you'd survive the firm's drawdown limits.
7. Comparing Firms
The Compare tab is your decision-making tool for choosing which firm to trade with.
- Select 2 or more firm presets (or custom configurations).
- Run the comparison — same trade data, different rules.
- Compare pass rates, EV, ROI, and break-even attempts side by side.
- Look for the firm where your strategy has the highest EV, not just the highest pass rate.
8. Optimising Risk
The Risk Sweep tab is the most powerful optimisation tool in PropFirmSim.
- Set your base risk level (e.g., 1% per trade).
- The sweep tests multipliers from 0.5x to 3.0x (i.e., 0.5% to 3.0% if base is 1%).
- For each multiplier, it runs a full simulation and records the pass rate, EV, and ROI.
- The result is a grid showing exactly where your optimal risk level sits.
Typically, there's a “sweet spot” where increasing risk boosts EV (more profit per pass) but hasn't yet tanked your pass rate (from hitting drawdown limits). The Risk Sweep finds that sweet spot.