Earn2Trade Founder Charged With Fraud

[Overnight]

this is absolute horseshit; how can you say that with a straight face when it's straight up a lie?

your "$25,000" account is literally just a $1,500 account. helios simply posts enough margin so that the $1,500 drawdown account has enough margin to trade 1-2 contracts. that's it.

i've always thought these funding companies advertising as if they're providing you with a $25k, $50k, $100k, or $150k account is straight up illegal. it's literally false advertising.

Hear ye, hear ye!

 

[SelfMadeDude]

this is absolute horseshit; how can you say that with a straight face when it's straight up a lie?

your "$25,000" account is literally just a $1,500 account. helios simply posts enough margin so that the $1,500 drawdown account has enough margin to trade 1-2 contracts. that's it.

i've always thought these funding companies advertising as if they're providing you with a $25k, $50k, $100k, or $150k account is straight up illegal. it's literally false advertising.

You are allowed to trade from 6PM EST to 4PMEST which means overnight maint. is required --- 1 ES contract is $13,200 overnight at IB -- so depending on your account size, it is actually a ($13,200 x your max. allowed contracts). The $150K account size "advert window dressing" is just pure marketing bait and most sensible traders who take these evaluations know this so it's not really that big a deal.

Either way you slice it, if you're a good risk mgmt trader then these evaluations are a good deal

 

[StockTrader100k]

I dont think overnight applies on ES emini and NQ emini if you open you initial position at 6pm EST (Globex) and trade til 3:59 the next day and close out the position before 4pm EST.

You only have overnight maintenance apply if you hold a position past 4pm EST into the Globex that opens at 6pm EST

Otherwise with most brokers the day trading margin just applies 6pm through 3:59pm next day

Here is an article
https://optimusfutures.com/tradeblog/archives/holding-futures-positions-overnight

 

[athlonmank8]

@destriero, we see (desperate) people here on ET looking for funding and mentorship. What choice do they have? These firms offer a service with rules of the game fully disclosed. To me, having an option always better. Otherwise people end up finding real scammers and get taken for a lot more.

This is spot on. They market will take their money one way or the other. This at least slows the process IMO.

 

[athlonmank8]

You are allowed to trade from 6PM EST to 4PMEST which means overnight maint. is required --- 1 ES contract is $13,200 overnight at IB -- so depending on your account size, it is actually a ($13,200 x your max. allowed contracts). The $150K account size "advert window dressing" is just pure marketing bait and most sensible traders who take these evaluations know this so it's not really that big a deal.

Either way you slice it, if you're a good risk mgmt trader then these evaluations are a good deal

Yeah i'm not entirely sure what they're trying to prove by bashing this model.

 

[athlonmank8]

Infinity, Amp, et al. offers $50 Micro for intraday holds. Comms for micros are what, 1/3 of wht E2T is charging? What is the value-add to using one of these scam outfits when you can save the money burned in "combine" attempts and put it to work at AMP?

Bankroll management? If it's so great then use what E2T uses. You're not going to attract OPM in either case so you may as well save on comms and keep 100% of what you kill.

You're telling me you ppl can't scrape together $2K to open an account? What's the logic?

Alright well this makes more sense. I don't know your background but for someone that posts so emotionally i'm surprised you're so highly spoken about.

 

[trade2020]

Yeah that is wrong overnight Margin $13,000+ a contract is opening a trade before 3pm central (4pm EST) and holding after 4pm into the 6pm Globex session or beyond

if you just start a position after 6pm (and have no other prior positions) it’s still just day trade margin

 

[SelfMadeDude]

Yeah that is wrong overnight Margin $13,000+ a contract is opening a trade before 3pm central (4pm EST) and holding after 4pm into the 6pm Globex session or beyond

if you just start a position after 6pm (and have no other prior positions) it’s still just day trade margin

Interesting..never knew that. I just assumed, as a former swing trader that "Regular US Trading Hours 930est - 400est" was considered day trading. LOL

 

[Overnight]

Interesting..never knew that. I just assumed, as a former swing trader that "Regular US Trading Hours 930est - 400est" was considered day trading. LOL

Hmm, is my math off, or does the following make no sense?

Since when is 3,300 half of 13,200?

 

[athlonmank8]

Micro commissions aren't lucrative for scalping so the micro comment has a few flaws.