any views on Earn2trade's Gauntlet

[Laissez Faire]

I felt like adding to the earlier discussion because I wanted to show just how easy it is to pass these programs in the ~1 month that most of them require. Someone said it should take an average of 3 months, which was quite funny to me.

Well, if you want to show how easy it is to pass the program, maybe wait until you actually passed.

I do agree that the profit targets are realistic, although it's clear to me that all of these programs are set up by design to make the trader fail and when you look closely into it it's evident that they're not really interested in funding you. That's more of a nuisance to them.

E2T is probably the best program, but I'm not convinced it's that good of a deal to be honest.

With the account you're currently trading what they're offering you is not a 50K account, but a 2K account as that's the EOD drawdown before you go bust. So, a minimum of 15 days to get funded with a 2K account. And note that with this 2K account - E2T owns 20 % of the profits, too.

I'm thinking that a trader who's good enough to pass these programs would be better of trading his own funds even if it's just a micro account.

If, and that's the big if, these firms would actually fund you and back you, i.e., "Withdraw your 15K of profits and continue trading a bigger account for us", it would be a great opportunity. But everything I see indicates that this is not the case. As soon as you withdraw your own profits you're back to square one.

 

[Gasparov]

Well, if you want to show how easy it is to pass the program, maybe wait until you actually passed.

Do you think I will somehow fail the next 4 days? My point is that generating these profits in a month should be brainless for anyone who puts in enough work. Also, I have already passed with another company with a more difficult set of rules. This is going to be my second simultaneous account, because this new company allows multiple accounts, and that is my priority now that I am already withdrawing profits from one. I will see if I end up wanting more than 3, but I would like to have 3 (plus my personal account).

If, and that's the big if, these firms would actually fund you and back you, i.e., "Withdraw your 15K of profits and continue trading a bigger account for us", it would be a great opportunity. But everything I see indicates that this is not the case. As soon as you withdraw your own profits you're back to square one.

Agreed. Unfortunately that is not the norm with these companies (yet).

 

[Laissez Faire]

Do you think I will somehow fail the next 4 days?

I don't know anything about you personally in order to make an informed opinion about that, but generally speaking I'd say it's a possibillity.

The leverage/DD is so tight on a 50K account that it's very easy to get on the wrong side of the market and hit your EOD DD.

My point is that generating these profits in a month should be brainless for anyone who puts in enough work. Also, I have already passed with another company with a more difficult set of rules. This is going to be my second simultaneous account, because this new company allows multiple accounts, and that is my priority now that I am already withdrawing profits from one. I will see if I end up wanting more than 3, but I would like to have 3 (plus my personal account).

Which other company?

All these fees you're spending must be adding up.

Agreed. Unfortunately that is not the norm with these companies (yet).

It's possible E2T could do something like that way down the line as you're actually trading a real account, but I'm convinced that this isn't an option with most of the other firms. And probably not E2T either.

 

[Gasparov]

The leverage/DD is so tight on a 50K account that it's very easy to get on the wrong side of the market and hit your EOD DD.

A good strategy will prevent you from being on the wrong side of the market to the point of ever reaching these wide loss limits.

Which other company?

All these fees you're spending must be adding up.

OneUpTrader, which only allows 1 account. This 2nd company is slightly more expensive but also has no monthly fees, so I am giving them a shot. I don't know many companies without monthly fees so that's my main gripe with them right now. I won't be doing any evaluations where they charge for market data or anything monthly.

And yes but once you are withdrawing thousands, the $150 evaluation fee becomes an afterthought. It's more like $150 to ensure you never lose any of your own money again.

 

[Leob]

good strategy will prevent you from being on the wrong side of the market to the point of ever reaching these wide loss limits.

 

[Laissez Faire]

A good strategy will prevent you from being on the wrong side of the market to the point of ever reaching these wide loss limits.

Well, sure. As long as your strategy is that good, then. It seems like you've blown accounts with these companies in the past and are still doing business with them, but maybe you discovered the holy grail in the meantime...?

Just make sure you stay low on the leverage. 2K on 1 ES contract is a daily loss limit you should be able to avoid, but if you trade 2 or even 3 ES contracts it ain't that hard to hit that if volatility spikes.

Good luck and feel free to keep us posted.

 

[Oiltraderelite]

E2T seems very good, Id checkout the Canadian futures trader . com guy for honest reviews of all the firms.

 

[CdnFuturesTrader]

E2T seems very good, Id checkout the Canadian futures trader . com guy for honest reviews of all the firms.

Heyyy ohhhhh. Thanks!

 

[Snuskpelle]

Well, sure. As long as your strategy is that good, then. It seems like you've blown accounts with these companies in the past and are still doing business with them, but maybe you discovered the holy grail in the meantime...?

Just make sure you stay low on the leverage. 2K on 1 ES contract is a daily loss limit you should be able to avoid, but if you trade 2 or even 3 ES contracts it ain't that hard to hit that if volatility spikes.

Good luck and feel free to keep us posted.

+1 on all your posts. Tbh it always struck me as more fruitful to go flip burgers and put that money into your own account than trying to get funded by one of these firms. I don't blame the firms as such necessarily - I don't think it's a viable equation handing trading capital to complete strangers, based on a short sequence of trial trades. So they must necessarily make money from something else than positive trading expectancy.

It's a bit like deciding to use the 5 best backtested of 1000 randomly generated strategies for subsequent live trading.

 

[Gasparov]

Well, sure. As long as your strategy is that good, then. It seems like you've blown accounts with these companies in the past and are still doing business with them, but maybe you discovered the holy grail in the meantime...?

This is exactly what I did, especially in the beginning. I passed for funding several times, then occasionally slipped up and had to start over, or I got reckless in an evaluation sometimes and had to repeat it. One time I got past an evaluation easily, and the futures market volatility ramped up on day 1 of my funded account. Bad timing/bad luck, and not the type that most traders think of. Think of March 2020 when Covid caused volatility to be something like 3-5x the normal days. I blew an account in March that cost me $150 to earn, but then made $500 the same day trading micros on my personal account. So things like that did happen, no one's fault but my own.

Ultimately, I spent much less during this process than I would have if I used my own account. And after discovering the "holy grail" along the way, I realized this funding process was something I wish I had the chance to do years ago. That's why I highly recommend it to those who are struggling with discipline, developing their own system or needing to thoroughly test their setups. I have paper traded many times, live traded, and learned quite a lot, but something about this system really accelerated my progress and got me where I am now. Sometimes paper trading on your own just won't drill it into your head as well as something like this can.

Also that second funding account finished this morning and it's under review. Unfortunately I didn't meet my goal of 100% profit rate (had one negative day). Perfectionist mindset I guess.