
Francis Morgan
Prop Trading Analyst at Audacity Capital
Francis Morgan is a finance and trading industry commentator who focuses on the proprietary trading sector. His content explores how prop firms structure their evaluation programmes, establish trading rules, and provide access to funded trading accounts.
He is particularly interested in the differences between firms, including their profit targets, maximum drawdown limits, daily loss limits, minimum trading days, payout conditions, and restrictions on trading strategies.
Rather than promoting a firm simply because it offers a large account or an attractive profit split, Francis encourages traders to examine the full set of rules and understand the conditions attached to each programme.
His content is designed to make complex prop firm policies easier to understand. He compares publicly available information, explains common industry terminology, and highlights the details traders should check before committing money to an evaluation.
His coverage includes firms serving traders across different regions, with attention to the fact that eligibility, payment options, platform availability, and programme terms can vary by country.
Details
Prop Trading Analyst at Audacity Capital
UK
Prop Trading Analyst
Master in Finance
Expert In
Francis's Articles

Sortino Ratio in Trading: How It Measures Downside Risk
Learn what the Sortino Ratio means, how to calculate it using downside deviation, and how traders use it to compare risk-adjusted performance.

How to Stress-Test a Trading Strategy With Monte Carlo
Learn how Monte Carlo simulation reshuffles trades, estimates drawdown and losing-streak ranges, and tests a strategy beyond one backtest.

Profit Factor in Trading: Formula and What Counts as Good
Learn the profit factor formula, calculate it with an example, judge useful ranges, and see why costs, sample size, and drawdown still matter.

Maximum Adverse Excursion Explained for Traders
Learn how maximum adverse excursion measures a trade's worst open loss, how to calculate MAE, read charts, test stops, and avoid common errors.
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