Notes on risk, evaluation, and disciplined execution.

Real market thinking from the traders building Pipster.

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The Fed Hiked and the Dip Got Bought Anyway
Market Analysis • Sep 17, 2026 • 9 min

The Fed Hiked and the Dip Got Bought Anyway

The first rate rise in 38 months, a unanimous vote, more hikes pencilled in, and the index rallied the next morning. Why that reflex is not an edge, and what a regime change does to prop firm pass rates and drawdown rules.

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What Is Prop Trading?
Industry • Aug 6, 2026 • 12 min

What Is Prop Trading?

Prop trading lets skilled traders access capital they don't own and keep most of the profit. Here's how proprietary trading works, the rules that come with it, and how to tell a real opportunity from an expensive lesson.

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Korea's $600 Billion Lesson in Leverage
Market Analysis • Aug 3, 2026 • 9 min

Korea's $600 Billion Lesson in Leverage

The KOSPI was the best-performing index on the planet, up 116% by June. Then it gave back a third in six weeks and margin-called over a million retail accounts. Here's what funded traders should take from it.

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What Is Leverage? The Truth About the Most Misunderstood Number in Trading
Playbook • Apr 19, 2026 • 6 min

What Is Leverage? The Truth About the Most Misunderstood Number in Trading

Leverage is advertised everywhere (1:30, 1:100, 1:500), but almost nobody talks about what it actually does to a trade, a strategy, or an evaluation.

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What Is a Prop Firm?
Industry • Mar 18, 2026 • 10 min

What Is a Prop Firm?

What is a proprietary trading firm, how do evaluations work, and is it worth paying for funded capital? Everything you need to know.

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How Do Prop Firms Work?
Industry • Mar 18, 2026 • 10 min

How Do Prop Firms Work?

From evaluations and profit splits to drawdown rules and payouts - a step-by-step breakdown of how proprietary trading firms actually work.

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Oil Prices, War, and Your Wallet
Market Analysis • Mar 13, 2026 • 12 min

Oil Prices, War, and Your Wallet

How the Iran conflict is about to hit everything from airfares to your funded account. Crude went from $70 to $110 in two weeks. Here's what's actually going on.

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From B-Book to Funded Trader
Industry • Feb 27, 2026 • 7 min

From B-Book to Funded Trader

Prop firms paid almost $325 million to traders in 2025. To understand how we got here, you have to go back to the model that came before: the B-Book retail broker.

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Swaps vs Swaps: Why This One Word Means Two Completely Different Things in Trading
Playbook • Feb 14, 2026 • 10 min

Swaps vs Swaps: Why This One Word Means Two Completely Different Things in Trading

The word 'swap' means two completely different things depending on who you're talking to. One is a trillion-dollar derivatives market. The other quietly eats into your P&L every night.

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