Using FTMO as an example: Phase 1 requires 10% profit target with 5% daily loss limit and 10% total loss limit, minimum 4 trading days, no time limit. Phase 2 reduces the profit target to 5% with same risk rules. Core advice: risk only 1% per trade, set your own daily loss limit stricter than the firm's, take 10-20 days instead of rushing, and don't skip demo testing.