Core terms
Drawdown — peak-to-trough decline in equity; know whether the firm measures balance or equity and if the trail is static or trailing.
Expectancy — average R outcome of a large sample of trades under a defined process.
Magic number — EA identifier tagging orders so logics do not trip over each other.
Session overlap — hours when two major FX hubs are open; often higher volume.
Risk of ruin — probability that a sizing scheme extinguishes the account given an assumed edge and variance.
Membership — the monthly plan that covers the EA license, My PropSustain, updates, and support; a flat fee for your tier, never a percentage of profits or payouts.
Named trader — the person a firm or broker holds the account for; only they click on that account.