How much you risk per trade

Can someone passed a prop firm challenge tell me how much he risked per trade ? Is the risk based on the daily limit loss or based on the allowed loss limit

You should set your risk based on the daily limit loss because that makes it nearly impossible to blow the account, or in the prop firm case lose the account because you've gone over the daily limit. If your daily loss limit is $500 and you're risking 1% of that per trade, then your first trade can lose $5.00. If you lose you now have $495 and the next trade can lose $4.95.

At some point you'd reach an account balance where you don't have enough money to open any trade (except for brokers that allow per unit, like Oanda, as you could open a trade worth $1 with them. They offer 50x leverage so you'd need a grand total of 2 cents to do that).

The risk amount just keeps getting smaller and smaller and prevents you from