any feed back, gals and guys
any views on Earn2trade's Gauntlet
- Thread starter padutrader
- Start date
You will fit right in padu
You do prop firm, first you need to understand, drawdown is the amount of funds you get from them. Because once you exceed drawdown, you are done.
I recommend myforexxfunds, it beats all other prop firms by high margin.
Now compare MFF with earn2trade: for 2500 drawdown, earn2trade charge you $429, while MFF only charge $139 for 2400 drawdown.
Plus, MFF allow you unlimited free reset if you do not reach profit target but hold positive balance at the end of challenge.
I recommend myforexxfunds, it beats all other prop firms by high margin.
Now compare MFF with earn2trade: for 2500 drawdown, earn2trade charge you $429, while MFF only charge $139 for 2400 drawdown.
Plus, MFF allow you unlimited free reset if you do not reach profit target but hold positive balance at the end of challenge.
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First get profitable in sim using very low drawdown (1K or 2K), then do one of the gauntlets.
I will not endorse them, but out of all the get-funded programs for futures - Earn2Trade seems like the best alternative for a few reasons starting with the most important first:
1. If you're funded, you'll actually get to trade a real account with trades going to the market.
Most of the other firms will actually have you trade on a simulator even after you're funded. I figure there are good reasons for this such as not having to set up an account when the chances are high that the account will get blown anyway.
However, this does introduce a conflict of interest between the trader and the firm as a trader trading in a simulator will be a liability to the firm if he's making profits. I would not want to be funded with a firm that loses money when I win. They'll use any excuse to get rid of you then.
2. You can trade pretty much whenever you want and don't have to stay flat during news releases.
3. You don't need to build a cushion before you can withdraw profits. For example with OneUp, I think you have to build a 5K cushion of profits AFTER getting funded before you can start considering withdrawals.
4. You can withdraw whenever you want. Note: I do not know how fast they process a withdrawal request, but at least there's no limit, though. With for example LeeLoo/Apex they have rules set up such that it will take you at least 6 months to withdraw 10K of profits you may have generated in the first month.
TopStep also introduced some very weird withdrawal rules.
All this is set up to make sure there's very low odds of a trader pulling any $$$ out of the firm.
So, E2T seems like the best deal, but if it's a good deal I'm still not sure of.
Finally, if you don't have an edge, you'll just become another statistic and source of income for E2T. If you give it a go, make sure you stay low on the leverage to have a fighting chance.
From the bottom of E2T's web page:
1. If you're funded, you'll actually get to trade a real account with trades going to the market.
Most of the other firms will actually have you trade on a simulator even after you're funded. I figure there are good reasons for this such as not having to set up an account when the chances are high that the account will get blown anyway.
However, this does introduce a conflict of interest between the trader and the firm as a trader trading in a simulator will be a liability to the firm if he's making profits. I would not want to be funded with a firm that loses money when I win. They'll use any excuse to get rid of you then.
2. You can trade pretty much whenever you want and don't have to stay flat during news releases.
3. You don't need to build a cushion before you can withdraw profits. For example with OneUp, I think you have to build a 5K cushion of profits AFTER getting funded before you can start considering withdrawals.
4. You can withdraw whenever you want. Note: I do not know how fast they process a withdrawal request, but at least there's no limit, though. With for example LeeLoo/Apex they have rules set up such that it will take you at least 6 months to withdraw 10K of profits you may have generated in the first month.
TopStep also introduced some very weird withdrawal rules.
All this is set up to make sure there's very low odds of a trader pulling any $$$ out of the firm.
So, E2T seems like the best deal, but if it's a good deal I'm still not sure of.
Finally, if you don't have an edge, you'll just become another statistic and source of income for E2T. If you give it a go, make sure you stay low on the leverage to have a fighting chance.
From the bottom of E2T's web page:
Do the other firms post this stat? Props to E2T for doing so.
Not to my knowledge. Yes, I thought it was nice of them to disclose that, although they don't go out of their way to show it. It's in black text at the very bottom of their front page.
Funding him would have to be an ongoing effort after he blows account by account.