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

ElectricSavant said:
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....
More...

That's correct other than:

1) $0.20 Rithmic cost is only if using Finamark, otherwise $0.25. Same with exchange fee (what you mentioned if only trading ES)
2) There is no drawdown limit (not sure where the 25% came from)
3) 80/20% profit share is best offer, could be 70/30 on lower end.
4) Doesn't have to be Rithmic (it is if Finamark). Could also be TT or CQG.
 
ElectricSavant said:
Are traders that trade through this program allowed to post about it in ET? That would be a deal breaker for me :D

ES
More...

Yes they can if they want!
 
I would never accept an offer higher than 20%. I wonder if I would be wasting my time? I have no criteria to judge this with and I must lay out the Gauntlet fee to find out.

ES

Earn2Trade-Ryan said:
That's correct other than:

1) $0.20 Rithmic cost is only if using Finamark, otherwise $0.25. Same with exchange fee (what you mentioned if only trading ES)
2) There is no drawdown limit (not sure where the 25% came from)
3) 80/20% profit share is best offer, could be 70/30 on lower end.
4) Doesn't have to be Rithmic (it is if Finamark). Could also be TT or CQG.
More...
 
ElectricSavant said:
I would never accept an offer higher than 20%. I wonder if I would be wasting my time? I have no criteria to judge this with and I must lay out the Gauntlet fee to find out.

ES
More...

Unless you just do the bare minimum 10% or have a huge drawdown, you're unlikely to get the lower end.
 
$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.)

Can someone explain this to me?
 
Exchange requirements. If you trade other people's money you are identified by the exchanges as a Pro. The data fees are higher for Pro accounts than for non-pro accounts. This will also carry over to your own retail accounts as long as you qualify as pro anywhere.
 
sheesh how clear can this get?

$1.90 * 2 = $3.80 RT "all in"...maybe 10 cents more for others besides Finmark.

Ryan...how do you do this? It takes a lot of patience.


ES

cafeole said:
Can someone clear up the fees for me? Is it around $3.40 per trade or $3.40 per round trip?
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"Here is an example: $0.25 Rithmic + $0.02 NFA + $1.50 Exchange Fees + $1.48 commission = $3.25/side"

I assume RT is round trip. I assume /side is per trade.

Not clear at all.
 
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