Earn 2 Trade the gauntlet

inditrader said:
A question on the professional data fees once you are trading as a professional with Helios.

1. Do you need to inform your personal brokers(stocks, futures) that you're now a professional and might be required to pay professional data rates at these brokerages?

2. If you don't inform the brokers, is there a mechanism by which they will eventually learn of your professional status(via signing exchange agreements with Helios) prompting a shift to professional rates then.

3. If no such mechanism exists, can you just carry on paying the non-professional rates at your personal brokerages.

The potential of having to pay professional data fees at other personal broker accounts kinda has me hesitant to go with the Gauntlet.
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Hello!

1) Yes, you're classified as pro.
2) Not sure. Maybe if Rithmic is used on both and Rithmic notifies them.
3) Can't really tell you what to do unfortunately!

If you're with Rithmic on both, many times there is a way they can combine the two so you don't have to pay twice.
 
Even though I was not a good enough trader to pass the Gauntlet I can agree with "bpj" that Earn2Trade has the best deal and the most honest and transparent that I have worked with in this field.

Recently, I have found an edge and can pass the Gauntlet, I am sure. I choose to trade my own retail account as I do not want to be considered a professional trader and get the increase in my Exchange Data fees across all of my accounts from $5.00/mo. to $105.00/mo. On top of that some brokers only want retail accounts and do not accept professional traders.

With regard to Tax and Regulation I believe that Earn2 trade has it set up the correct way. How Topstep and the other "educational / trading" firms fit all of these indepedent contractors into the regulations escapes me...and it is possible there could be recourse from the regulators and the IRS. YES this means you too trader.

Anyways..this is my experience and If I were to switch to pro status ..I choose Earn2Trade, in a heartbeat. I want to Thank Ryan for making many under-funded traders a good deal. With the advent of the Micros his market may change...but he is reacting and still offering a great deal!

ES
 
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I have to add a disclaimer: I am not affiliated with Earn2Trade other than by looking to get funded by them soon. I just want to be with a prop firm that groups together constantly profitable traders limited by the firm's risk management rules. That is a recipe for long-term success and prevents a situation where one "rogue trader" takes me and the other traders down with him.
Although this is an individual game where your loss is my gain and vice versa, I want to think that Helios' traders get their profits from money provided by traders outside this firm. Hence, I wish Earn2Trade and Helios all the best as we have a common interest - if I make a profit in the markets, so do they.
 
Confirmed. This is what I get also as I am on the fixed commission schedule plan. AMP is better than TradoVate at my level for Micro's...and no minimum or tiered trading quantity which gives me more freedom. It's only 5 bucks a month for CME data and 0 for the Tradingview hook up. TradoVate charges $7.00 & $6.99 per month respectively.

I have to trade my edge(s) a little while before ramping up to free commission at TradoVate and then my own seat. But I digress as I first need to graduate to the Mini.

ES

P.S. So far I am averaging 13 RT's per trading day in the MNQ. Some days I have only had screen time of a few hours and traded only three RT's. I am ramping up recently so that I make at least minimum wage! These Micro's are tough even with all this negotiating for the best fee's.

canoe said:
yes, electricsavant is wrong.

for AMP with CQG order routing, it is $0.74/RT all-in, including the $0.10 CQG order routing fee.
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Hi
I noticed the scale for offers, based on passing and DD. 2% is $500 or less, is that a trailing stop. If you earn say $800 ( $25800 bal ) and than lose $500 ( $25300 bal ) is that 2% ?
 
Hi Ryan
On the Mini, its a similar set up to the others, but I didnt read anything about a phase 2 like Top step, or an equity building period like one up .?

Also once you are in and funded, are there ways to move up for higher amounts ? I believe this has been mentioned for the regular Gauntlet


Normally in this type of setup, you do what it takes in a step 1 and than trade under a stricter rule set ( theres or yours) after the intial pass.
 
I think I read it correct on scaling. I take a trade and win my profit is now say $1650. The very next trade I can add a contract if I like that same day. ?? I should also make sure theres enough equity for the trade.

So the trailing DD also moves the same day.
 
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