Earn 2 Trade the gauntlet

[MorningStar]

I wonder how much less your drawdown should be to get 20%?

Es

I imagine that it would be 2% or less!

This was a letter from the Helios team about why I didn't get 80% cut, which I expected but I didn't get:

Hi Martha, unfortunately you did not have good risk to reward ratio (it was a negative ratio) and demonstrated some potentially destructive habits. Since that happened and it wasn’t even real money at risk, we have to be a bit more cautious for the first period of trading live capital as usually a traders weaknesses show up even more so at that time. After your initial one month review, we are more than happy to not only get you to 80/20 split but also increase your capital should you demonstrate a better grasp on your drawdown.

Don’t take the offer as a knock against you but more of a simple display that you have some improvements to make. That’s very common. There is no defined formula for what offer we make traders. Our team reviews each traders results personally and make a customized offer based how how we believe the trader will perform and come up with an offer that we believe will allow us to set some goals for them, which we have found improves the chances for success.

Please keep in mind we are looking for traders we can keep with us for a long time and during this first initial period of live capital we will work with you closely on your trading to help get you more allocated capital and a better profit split.

I look forward to working personally with you should you decide to accept our offer.

ES, I hope that helps you be more conservative in your trading decisions. I would even suggest that you think about this being your own money. Would your family be happy swinging $2,500 losses on a $25K account? I think not. So, don't become so emotional or vengeful, when you loose a series of trades. I've been there, done that....so I can see it on your trading history.

 

[Earn2Trade-Ryan]

Helios definitely does not expect 2% drawdown for 80/20 but 1.5-2:1 reward to risk ratio is ideal. I wouldn’t expect a high offer if your drawdown is larger than your return but at least you’re getting an initial allocation! In any other situation I can’t imagine someone giving someone a capital allocation if their drawdown was higher than their return

 

[ElectricSavant]

Morningstar...Thank You so much for your wisdom and for publishing this letter. Elitetrader can be a great resource for you...see you out there!

Step by Step I get closer. There has been so much shared in this thread...Maybe I will get a 50% offer if I can figure out how to make 10% so late in the Gauntlet?

ES

I imagine that it would be 2% or less!

This was a letter from the Helios team about why I didn't get 80% cut, which I expected but I didn't get:

Hi Martha, unfortunately you did not have good risk to reward ratio (it was a negative ratio) and demonstrated some potentially destructive habits. Since that happened and it wasn’t even real money at risk, we have to be a bit more cautious for the first period of trading live capital as usually a traders weaknesses show up even more so at that time. After your initial one month review, we are more than happy to not only get you to 80/20 split but also increase your capital should you demonstrate a better grasp on your drawdown.

Don’t take the offer as a knock against you but more of a simple display that you have some improvements to make. That’s very common. There is no defined formula for what offer we make traders. Our team reviews each traders results personally and make a customized offer based how how we believe the trader will perform and come up with an offer that we believe will allow us to set some goals for them, which we have found improves the chances for success.

Please keep in mind we are looking for traders we can keep with us for a long time and during this first initial period of live capital we will work with you closely on your trading to help get you more allocated capital and a better profit split.

I look forward to working personally with you should you decide to accept our offer.

ES, I hope that helps you be more conservative in your trading decisions. I would even suggest that you think about this being your own money. Would your family be happy swinging $2,500 losses on a $25K account? I think not. So, don't become so emotional or vengeful, when you loose a series of trades. I've been there, done that....so I can see it on your trading history.

 

[p0box4]

I have also started my Gauntlet today.
The account was ready and setup for trading just after the US open session, missed some trades before that but managed to get 1 more trade for today and ended up with 666,12$ in profit.

Done for today, i have some meetings tomorrow and Wednesday so not sure if i will be able to trade a lot.

 

[p0box4]

Looks like i might be done for today.

Missed a few small target trades earlier this morning because of some meetings.
Took 2 trades later on:

1 short on GC, entry at 1234.5, first target at 1233.00 and trailing stop at 1233.1
1 short on NQ, entry at 7192.0, decided to exit both contracts at the first target which was 7185.5. If i would have used the trailing stop as exit for the second contract i would have had 17 points or 340$ more.

Anyway, the todal profit for the day is 532,24$.

 

[caacapital]

we all knew it was coming to many ppl are passing so here comes the more restrictive requirements. updates to Earn2trades Gauntlet the most notable is they now have a max drawdown of 10%(2,500), also they want a risk/reward of 1.5:1 min. So now the only benefit really is the fact that you only have to go through 1 trial and you can hold overnight. min award is 10k max 25k draw downs min 10% max 25% on funded account

 

[Earn2Trade-Ryan]

we all knew it was coming to many ppl are passing so here comes the more restrictive requirements. updates to Earn2trades Gauntlet the most notable is they now have a max drawdown of 10%(2,500), also they want a risk/reward of 1.5:1 min. So now the only benefit really is the fact that you only have to go through 1 trial and you can hold overnight. min award is 10k max 25k draw downs min 10% max 25% on funded account

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It has nothing to do with the pass rate. It has to do with the success of the traders after funding. Those who hit over 10% on their Gauntlet are generally blowing their funded account drawdown limit. That's not beneficial for anyone. We never said 1.5:1 was a requirement, we just said those that have 1.5:1 or more have better offers. There are way more benefits than you've mentioned, which are outlined elsewhere in this thread.

 

[caacapital]

Of course it doesn't really make sense to keep funding people with negative risk/rewards but as a prop firm wouldn't they have known that up front?? The only reason to not have a up front drawdowns I'm guessing would be to bring in customers since your charging a bit more than your competition and hope that to many people dont pass which probably wasnt the case since that rule has now been added. If your passing with less than 1.5:1 your probably leaning toward the 10k 10% drawdowns correct? thats 1k risk capital. anyone that can afford to do these type of combines literally can save that up by the time they pass this 60 day trial. So you actually really need to have a risk/reward of greater than 1.5:1 for this to make sense to take. Your competition TST/Oneup requires over 3x(pass combine 2x and drawdown is less than profit target cant remember exactly the number) so i would image that as a business your not offering your max award of 25k with 25% draw down for less than what the competitions risk/reward structure is if its less its not that much lower.

It has nothing to do with the pass rate. It has to do with the success of the traders after funding. Those who hit over 10% on their Gauntlet are generally blowing their funded account drawdown limit. That's not beneficial for anyone. We never said 1.5:1 was a requirement, we just said those that have 1.5:1 or more have better offers. There are way more benefits than you've mentioned.

 

[ElectricSavant]

caa...

The main thing to fret over in my opinion is the percent shared...30% verses 20%.

If you have a good system (which I do not) then this change should not matter...

ES

 

[Earn2Trade-Ryan]

Of course it doesn't really make sense to keep funding people with negative risk/rewards but as a prop firm wouldn't they have known that up front?? The only reason to not have a up front drawdowns I'm guessing would be to bring in customers since your charging a bit more than your competition and hope that to many people dont pass which probably wasnt the case since that rule has now been added. If your passing with less than 1.5:1 your probably leaning toward the 10k 10% drawdowns correct? thats 1k risk capital. anyone that can afford to do these type of combines literally can save that up by the time they pass this 60 day trial. So you actually really need to have a risk/reward of greater than 1.5:1 for this to make sense to take. Your competition TST/Oneup requires over 3x(pass combine 2x and drawdown is less than profit target cant remember exactly the number) so i would image that as a business your not offering your max award of 25k with 25% draw down for less than what the competitions risk/reward structure is if its less its not that much lower.

The goal of The Gauntlet™ is to serve as an evaluation program for potential traders who are trying to go professional. We are also aiming for our program to serve as a standard in the industry for proprietary trading firms to recruit traders. We try our best to accommodate both sides, leaving the maximum flexibility for the trader and the maximum flexibility for the prop firm. The prop firm always has the option of customizing the offer it provides to the traders. That’s why we give our candidates the opportunity to get higher offers with higher performance without paying more money. We’re not out here to rip you on a more expensive account so you can get a more lucrative offer. You perform better you get a better offer, it’s that simple and it’s honest. It’s our job to get our candidates funded and provide the most transparency outcome possible while recognizing the needs of the prop firm to set its own conditions.