Prop Firm Tracker and Trading Journal for Funded Accounts
Risk Desk and drawdown tracking are built in, so the journal doubles as a prop firm tracker. Use it as a funded account tracker and challenge tracker for evaluation and funded accounts, with a drawdown tracker that shows your distance to breach and alerts at 70% and 90% consumed. You enter your firm's rules, so it fits any prop firm's rule set. Updated 12 October 2026.
What is a prop firm trading journal?
A prop firm trading journal is a trade log built for accounts with rules: it records each trade and also tracks the daily loss, the drawdown floor, the profit target and the days traded, so you can see how much room is left. It names no firm; you enter the numbers from your own account terms.
The free .xlsx template, with its own rules and daily sheets, is further down.
Why Prop Firm Traders Need Different Tools
A standard trading journal tracks what happened. A prop firm trading journal needs to show what's about to happen — how close you are to a daily loss breach, a max drawdown violation or a rule you forgot about. The difference is tracking, not after-the-fact review.
The Trading Terminal's Risk Desk module calculates your remaining daily risk budget as a dollar amount and shows Distance to Breach bars for both daily loss and max drawdown — updated as you log trades. The bars turn amber from 50% consumed and red from 80%, with alert banners at 70% (warning) and 90% (critical). You see the breach coming before it happens, not after. On a $100k evaluation account with a 5% daily loss limit, that's a $500 buffer you can see shrinking from your closed trades.
What a Prop Firm Challenge Comes Down To
Most challenges are defined by a handful of numbers: a daily loss limit, a max drawdown, a profit target and, at many firms, a minimum number of trading days. Breaching the first two usually ends the attempt, and the last two are what a pass requires. The rules differ by firm and by phase, so the firm's own rules are the ones that apply.
In The Trading Terminal, you create an account for the challenge in the Accounts Manager, set its type to Evaluation, and enter the daily loss limit, max drawdown and profit target. Risk Desk then works from your closed trades and the Account Overview shows progress towards the profit target, the drawdown room left, today's daily loss consumed and the number of days you have traded. There is no minimum-days setting, so compare the days-traded count with your firm's requirement yourself.
Phases, Restarts and Running More Than One Challenge
Each phase can be its own account. A separate account for Phase 1, Phase 2 and the funded stage keeps each set of rules and each P&L history apart, and a new account for each attempt leaves earlier attempts available for review, including their Mistake Cost Analysis and Trader DNA breakdowns. Free covers 1 account, Pro covers 3 and Elite has no account limit, so running several challenges at once needs Pro or Elite. The Prop Firms Guide lists a few prop firms' rules as last checked, with a link to each firm's own page.
Prop Firm Tracker Tools: Funded Account, Challenge and Drawdown Tracking
Risk Desk
Daily risk budget, distance-to-breach bars, trailing drawdown tracking. Alerts at 70% and 90% consumed. Works with any firm's rules.
Do Not Trade
Flags conditions that historically produce losses for you — sessions, instruments, market states. Data-driven danger zones from your own history.
Accounts Manager
Track evaluation, funded, live and demo accounts independently. Each with its own rules and P&L history. Unlimited accounts on Elite.
Prop Firms Guide
A short list of a few prop firms' rules, with the date each was last checked and a link to each firm's own page.
What does a prop firm journal track beyond a normal one?
A normal journal looks back at what happened. An account with rules also needs to look forward at what is left. Five things make the difference:
| Item | Why it matters |
|---|---|
| Phase or stage of the account | Challenge, verification and funded stages usually have separate rules and balances, so each deserves its own record |
| Daily loss used | How much of today's allowance has gone, as a percentage |
| Distance to the drawdown floor | The amount you can still lose before the maximum drawdown is breached |
| Progress to the profit target | Closed profit so far against the target, where there is one |
| Days traded | Compare it with your own terms if they set a minimum |
The numbers come from your account terms. A journal cannot know them, and no two sets of rules are identical, so the figures here are always the ones you type in. This page does not name any firm or quote any firm's rules.
How do the daily loss and drawdown floor move from day to day?
Here is a fictional $50,000 account with a 5% daily loss allowance ($2,500), a 10% maximum drawdown ($5,000) and an end-of-day trailing floor. The numbers are the same kind the free template's Daily sheet calculates.
| Day | Day P&L | End balance | Best end-of-day balance | Floor | Room above floor | Daily loss used |
|---|---|---|---|---|---|---|
| Day 1 | +$800 | $50,800 | $50,800 | $45,800 | $5,000 | 0% |
| Day 2 | -$600 | $50,200 | $50,800 | $45,800 | $4,400 | 24% |
| Day 3 | +$1,500 | $51,700 | $51,700 | $46,700 | $5,000 | 0% |
| Day 4 | -$2,100 | $49,600 | $51,700 | $46,700 | $2,900 | 84% |
| Day 5 | +$400 | $50,000 | $51,700 | $46,700 | $3,300 | 0% |
Day 4 is the one to notice. The account still has $2,900 of room above its floor, yet 84% of that day's loss allowance has gone, which is where a distance-to-breach bar turns red. The floor rose after day 3 because it follows the best closing balance, and so the room fell from $5,000 to $2,900 on a day when the account lost $2,100. Hypothetical numbers, shown to explain the rule; read static vs trailing drawdown for the three floor types.
Which mistakes does a prop firm journal catch?
- Spending most of the daily allowance on the first trade. Risk per trade as a share of the daily limit shows how few losses it takes.
- Trading on after 70% of the allowance has gone. The share of trades taken after a heavy loss is easy to count.
- Revenge trades after a near breach. A tag counts them and their net result.
- Raising size right after passing a stage. Position size per trade over time shows the step.
- Mixing stages in one record. Challenge and funded trades under different rules should not share one set of statistics.
- Restarting without reviewing the last attempt. A separate record for each attempt lets you compare them.
Is there a free prop firm trading journal?
Partly. The Trading Terminal's Free plan is A$0 with no card and includes the full trade journal, the Accounts manager with an Evaluation or Funded account type and the dashboard for 1 account, with up to 30 trades per calendar month and 90 days of dashboard history. The live tracking is not free: Risk Desk, with the daily risk budget and distance-to-breach bars, is on Elite (A$29 a month or A$249 a year).
For a free way to track the numbers yourself, the free prop firm trading journal template has a Rules sheet where you type your starting balance, profit target, daily loss and maximum drawdown percentages and choose static or end-of-day trailing, and a Daily sheet that works out each day's result, balance, floor, room above the floor, daily loss used and a status. It does not calculate intraday trailing drawdown, which needs intraday highs a daily total cannot show, and it knows no firm's rules.
Download the prop firm trading journal template (.xlsx)
Free, no sign-up, no macros. You type your own numbers on the Rules sheet. It is a tracking aid and not your firm's official figure. In Google Sheets use File > Import > Upload. See also the trading journal template and the free trading journal page.