any views on Earn2trade's Gauntlet

Illini Trader said:
...and failed even though my account was in profitable status and had been since the very first trade. Zero drawdown below the 50K. I was cutting the daily drawdown too close and went over by 1 tick. I protested because I was profitable but rules are rules...
More...

That's exactly why you should run away from them and not look back. In the real world, you do not have to re-fund your account because you had 1 tick over -$3000 (or whatever the limit is) in a 50K account.

So your $46,999 is magically gone, just like that, because you lost 3001 dollars.

THAT IS NOT THE REAL WORLD!
 
Last edited:
Illini Trader said:
And, if you are successful you can go up the ladder in the number of contracts traded much more quickly than you would do with your own funds.
More...

Can you?

Many discount brokers offer intraday margins of $500. Doesn't mean it's a good idea to utilize that full margin. Same with E2T. Just because you can trade 15 contracts doesn't mean it's a good idea. You'll quickly blow your account.

Illini Trader said:
For example if you have made $50,000 with E2T you would be more comfortable trading 10 contracts than you would be with a $50,000 account of your own.
More...

Why?
 
Overnight said:
That's exactly why you should run away from them and not look back. In the real world, you do not have to re-fund your account because you had 1 tick over -$3000 (or whatever the limit is) in a 50K account.

So your $46,999 is magically gone, just like that, because you lost 3001 dollars.

THAT IS NOT THE REAL WORLD!
More...

Yeah but really, if you want to be a day trader there should be zero days where you get to -3000 on a 50K account. Zero. It shouldn't even be possible. Yes, maybe if you are really bad, you can get to that as an ultimate drawdown. So as a day trader, that drawdown is pretty much irrelevant (IMO).
 
nooby_mcnoob said:
Yeah but really, if you want to be a day trader there should be zero days where you get to -3000 on a 50K account. Zero. It shouldn't even be possible. Yes, maybe if you are really bad, you can get to that as an ultimate drawdown. So as a day trader, that drawdown is pretty much irrelevant (IMO).
More...

I cannot keep track of which company uses which drawdown type, so I am guessing E2T is the trailing-type? Death by slow burn?
 
nooby_mcnoob said:
I have no idea. I'm sure it's the one that is not in your favor lol
More...

Of COURSE they are not in your favor! Max trailing drawdown = $3K with a $50K starting balance.

Day 1. Make $1K. EOD balance $51K.

Day 2. Lose $500. EOD balance $50.5K Trailing drawdown = $500

Day 3. Make $3K. EOD balance $53.5K. Trailing drawdown = $500

Day 4. Lose $2K. EOD balance $51.5K. Trailing drawdown = $2,500

Day 5. Make $2K. EOD balance $53.5K Trailing drawdown = $2,500

Day 6. Lose $501. EOD balance $52.999K Trailing drawdown = $3,001.

GAME OVER, MAN. Even though the account is 2500 bux above starting balance, the account is closed, because somehow you are a great risk to the funding company. It's BS! That's not how the REAL WORLD WORKS!
 
Last edited:
Only FTMO and myforexfunds offer fixed drawdown, all other prop firms offer trailing drawdown.

That means for FTMO and MFF, a 10% drawdown on a 50000 account is 45000, you go below 45000, you are done.
For other prop firms,your drawdown is 45000 at the beginning, but if your account goes to 55000, your drawdown is lifted to 49500, if your account drop below 49500 anytime in the future, you are done. While for FTMO and MFF, 45000 will remain the floor.

There are other respects that is very important but I don't see anyone in this thread who can understand them.
I suggest you guys to check out youtube, there are plenty videos to explain the differences.

I am very surprised so may people here don't understand drawdown is the amount of funds you get, not account size.No matter you call it a 35000,or 50000,or 100000 account,if drawdown is 3000, it is in fact a 30000 account. It is a scam to call a 3500 drawdown account a 100000 account.In youtube videos, or in FTMO and MFF chatroom, every trader understand that , but here I see no one does.
 
Last edited:
nooby_mcnoob said:
Yeah but really, if you want to be a day trader there should be zero days where you get to -3000 on a 50K account. Zero. It shouldn't even be possible. Yes, maybe if you are really bad, you can get to that as an ultimate drawdown. So as a day trader, that drawdown is pretty much irrelevant (IMO).
More...

I’ve had worse on a far smaller account, so please reward me with the title as the worst day trader on record.
 
Overnight said:
Of COURSE they are not in your favor! Max trailing drawdown = $3K with a $50K starting balance.

Day 1. Make $1K. EOD balance $51K.

Day 2. Lose $500. EOD balance $50.5K Trailing drawdown = $500

Day 3. Make $3K. EOD balance $53.5K. Trailing drawdown = $500

Day 4. Lose $2K. EOD balance $51.5K. Trailing drawdown = $2,500

Day 5. Make $2K. EOD balance $53.5K Trailing drawdown = $2,500

Day 6. Lose $501. EOD balance $52.499K Trailing drawdown = $3,001.

GAME OVER, MAN. Even though the account is 2500 bux above starting balance, the account is closed, because somehow you are a great risk to the funding company. It's BS! That's not how the REAL WORLD WORKS!
More...

Yeah but at the same time, is there really a benefit to keeping a trader who isn't constantly growing the account. Probably not...

Laissez Faire said:
I’ve had worse on a far smaller account, so please reward me with the title as the worst day trader on record.
More...

That statement was just about if you are already a pro, not if you are learning.
 
nooby_mcnoob said:
Yeah but at the same time, is there really a benefit to keeping a trader who isn't constantly growing the account. Probably not...



That statement was just about if you are already a pro, not if you are learning.
More...

Well, how CAN you grow your account if they terminate you after a period of sideways action? EVERY firm goes through that.

Let's take it one step further in an alternate universe...

Day 5. Make $2K. EOD balance $53.5K Trailing drawdown = $2,500

Day 6. Make $20K. EOD balance 73.5K. Trailing drawdown = $2,500

Day 7. Lose $501. EOD balance. 72.999K. Trailing drawdown = $3,001

Game over while yer up 23 Grand over original balance!

When does it end?
 
You must log in or register to reply here.
Back
Top