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Prop capital is conditional. Live capital is yours. Graduation should follow process — not ego after a lucky sample.
Prop seats fail on rules. Live accounts fail on your capital and your psychology without a firm referee. Neither path guarantees income.
A stack that only works because a firm’s trailing drawdown “resets” may not translate to live.
Move to live personal capital when documentation, expectancy honesty, and operational continuity exist — not when social media says you should.