Earn 2 Trade the gauntlet

[p0box4]

Any suggestions for a way to demo trade futures?

I have been doing Spot FX but would want to demo trade my strategies for a couple months in Futures and make any necessary adjustments before taking the plunge and doing a Gauntlet.

You can sign up for a demo account, i would suggest via AMP since they have lots of platforms to choose from.

 

[TRS]

From the notice we sent:
"We’ve done our utmost to provide the most realistic Forex experience possible to our customers. This means providing access only to the largest US brokers that offer the maximum legal trading leverage. We’ve been overwhelmed with requests for access to proprietary trading firms that will use offshore brokerages that can offer more leverage to customers. We fully understand that there can be financial advantages to dealing with offshore brokerages, but we are not interested in pursuing a business direction that would be contrary to any legal or regulatory restrictions. Furthermore, our proprietary trading associates, Helios Trading Partners have realigned their attention to focus primarily on Futures. While Currency Futures are still an option to be traded, the Forex variant of The Gauntlet™ will be discontinued for the time being."

In addition to this there are some other reasons, two of which:
- The retail Forex industry, at least in the United States has seen a pretty significant decline
- Current available US regulated RFED's do not have an adequate account or risk management configuration to be able to properly support a prop firm.

Thank you for the detailed reply

 

[pfsthib]

I had to start the Gauntlet over. December 21st is end date. I'll keep you guys posted.

 

[p0box4]

I had to start the Gauntlet over. December 21st is end date. I'll keep you guys posted.

Good luck, my ends at December 14th.
I will post an update here once i have reached my target or failed the Gauntlet.

Since i have made a journal on another forum i am not going to copy everything into this thread.

 

[Handle123]

I find these contests to be rather waste of time, and it is a contest of you against you. You have the delusional who have not programmed their method back 3-5 years to understand when or how to adapt in changing conditions or they not sim tripled a sim account three different times to get good at identifying patterns and have the timing and all the answers for the questions down pat, they most likely to complain about everything. Then you have those who are bored as they been trading profitable and it is more entertainment and you can see they have all the answers to possible questions.

The contest owners hoping they get the experienced, but the experienced less likely to want to be labeled professional and manage "small" monies, why make a percentage when you can make 100%? So the owners are more likely to get emotional traders and pray they don't blow out the first week.

 

[p0box4]

I find these contests to be rather waste of time, and it is a contest of you against you. You have the delusional who have not programmed their method back 3-5 years to understand when or how to adapt in changing conditions or they not sim tripled a sim account three different times to get good at identifying patterns and have the timing and all the answers for the questions down pat, they most likely to complain about everything. Then you have those who are bored as they been trading profitable and it is more entertainment and you can see they have all the answers to possible questions.

The contest owners hoping they get the experienced, but the experienced less likely to want to be labeled professional and manage "small" monies, why make a percentage when you can make 100%? So the owners are more likely to get emotional traders and pray they don't blow out the first week.

What are the downsides for being a professional, except for the higher exchange fees?
About managing "small" monies, with Helios you have the potential to grow your account quite rapid if you are a good trader.

Can you confirm this @Earn2Trade-Ryan ?

 

[Earn2Trade-Ryan]

What are the downsides for being a professional, except for the higher exchange fees?
About managing "small" monies, with Helios you have the potential to grow your account quite rapid if you are a good trader.

Can you confirm this @Earn2Trade-Ryan ?

Yes I confirm Helios is more than willing to increase the allocations.

 

[Handle123]

What are the downsides for being a professional, except for the higher exchange fees?
About managing "small" monies, with Helios you have the potential to grow your account quite rapid if you are a good trader.

Can you confirm this @Earn2Trade-Ryan ?

I can be wrong, but you seem very experienced trader @RDK91, and some brokerages have customers willing to have their funds managed cause you might have a few years already of real time. Brokers do want to help beginning CTA's as a way to generate more commissions.

I did the "small" monies in the 90s, never again, people call you when having drawdown and twice as much when doing well. Easier to sell yourself when you have three years real time of your own monies, concentrating on small drawdowns.

You might want to have a chat with an accountant on how to pay least taxes managing monies as a professional. Cause once you set something up in a certain way, very difficult to change regarding IRS.

I wish you well.

 

[pfsthib]

I have failed the Gauntlet for a second time. I have reviewed my trades and found the errors. I will SIM and triple the account before I attempt the Gauntlet again.

 

[Handle123]

I have failed the Gauntlet for a second time. I have reviewed my trades and found the errors. I will SIM and triple the account before I attempt the Gauntlet again.

Much better tripling your sim account three times, it best to come to the game "knowing" most of the answers than "hoping". Too many think they have a good system but they fail as they didn't do enough or none at all of back testing in all kinds of price action which forces you to learn how to adapt to changing volatility and new rules.

Good luck next time.