Anyone Tried the 60 Day Trading Gauntlet from Earn 2 Trade?

Illini Trader said:
Congrats! What instruments did you trade on the Gauntlet?
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Oh I trade forex, but I only got 10,000 account and 25% drawdown limit. I believe the drawdown was because Oanda closed my positions suddenly, and not sure if its legit margin call, but dont want to point it out now.
 
Zwein said:
Oh I trade forex, but I only got 10,000 account and 25% drawdown limit. I believe the drawdown was because Oanda closed my positions suddenly, and not sure if its legit margin call, but dont want to point it out now.
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Can I ask how much leverage you used in the gauntlet and plan to use now (if different)?
 
Ryan,

You are incredible. You take all this shit and still answer all of the questions and address the concerns with transparency.

Thanks for that...

ES

Earn2Trade-Ryan said:
Absolutely not.

As I specified, we don’t ask you to give away anything proprietary. For example, a description given could be: “I look for 1-2 good setups per day on Crude Oil where I target 10 ticks profit. I only trade during the 8-1:30pm timeframe”. This description is provided at the top of the trader report we provide to the prop firm along with the performance. Think of it like a cover page to your resume, with the trades being your job history.

If the prop firm sees your trades held to that description, you’d likely receive a better offer than if 50% of the time you traded NQ, during the night, 20-30 times for 2-3 ticks. That sort of trading didn’t fit your description of how you trade and they would likely ask for an explanation before they formulate what your offer would be.
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ElectricSavant said:
Ryan,

You are incredible. You take all this shit and still answer all of the questions and address the concerns with transparency.

Thanks for that...

ES
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In this industry, it’s the least we can do. Thanks for the positive feedback.
 
So to recap.

Trading the ES:

  1. $349.00 - 20% coupon code = $279.00 (must start within 72 hrs after paying...pay on Monday:))
  2. Must trade once a week and show a 10 % profit on the 60th day. No more than 25% DD
Commission:

$0.50
$1.18
$0.02
$0.20
_____
$1.90 * 2 = $3.80 RT "all in"

20% profit sharing.

$105.00/Mo. Pro Data Fee. (cannot trade as a retail trader in your own account for the lower fee, once you sign up with a Prop firm.)

These are the three entities that a person works with during this journey and if he passes the Gauntlet and is guaranteed to get an offer otherwise he loses his $279.00. This $279.00 dollars is his only risk and then he gets some funds to trade with if he passes.

Helios
Earn2Trade
Rithmic

You use Maintenance Margin in ES

So 25k can trade 4 contracts ($5,800.00 * 4 = $23,200.00) You allow overnight holds.


ES

P.S. Whew I think I got it....
 
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Oh yes this too:

You use Maintenance Margin in ES

So 25k can trade 4 contracts ($5,800.00 * 4 = $23,200.00) You allow overnight holds.

ES

P.S I added it above.
 
Folks...

Comparison of profit sharing:

Trade your own 15k assuming 5%/mo with maintenance margins = $750.00/mo.

Trade Helios offer of 20k OF THEIR MONEY assuming 5%/mo with maintenance margins = $800.00/mo. NO RISK AS YOU ARE NOT TRADING YOUR OWN MONEY

ES

P. S. The Commish is not that bad at $3.80/RT "all in" and the $105.00/mo is doable. Granted I can do better at Tradovate with the commish of $2.98 R/T "all in" for 500 contracts/mo...but the risk is all mine.
 
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ok ok i get it...$500.00 Day trading margins gets you 30 contracts with 15K but I would never do that. I think Ryan is correct and that even using maintenance margins is a lot of leverage.

Scalpers like me benefit less from Earn2Trade...where are all of you Swing Traders?...isn't this a good deal for you? You can hold overnight with Earn2Trade/Helios/Rithmic!

ES
 
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