Earn2Trade Founder Charged With Fraud

[wmwmw]

People pointed out that a 25000 account is really a 2500 account, because they only allow you to trade 10% of 25000.
But no one seems to pay attention that the requirement to make 10% in two months is really a requirement to make 100% in two month. Because a trader needs to make 2500 with 2500.
This is a job that no any trader in any prop firm dare to claim(with consistency).
To double one's account every two months consistently is out of human capacity. A trader can only earn a funded account by luck, not by skill.
So this model is really a kind of a casino game where house holds a huge edge.
As far as I know, traders who earned funded accounts were not those who made 0.5% per day and accumulated 10%(really 100%) in two months, but those who traded huge contracts and hit 10%(really 100%) in half an hour, were those who did not use any consistent strategy but gambled their accounts in a big way.
At least those gamblers make some money back (but as a whole they eventually lose money)and are much smarter than the fools who think they can earn funded accounts by some consistent strategies.

 

[Scalping_Padawan]

Show us the hedge funds and CTAs with Sharpe >3 and >5 years track record. You can start with sites like iasg.com and ctadatabase.fundpeak.com. Search any database and name the names.

So you assume that the same techniques that CTAs and Hedge funds with their size and outlook are the standard for a trader not trading any larger than 1-8 contract, with a trailing drawdown, with the risk limitations imposed; You seem to not be anywhere near the map.

Here is a clue-- start researching trading styles and their sharpe ratio over a large sample, you then might have a clue as to the type trading that needs to be done. After that, you will be left without the skill to do so, so would most other traders.

 

[longshort]

Your suggestion was one "takes responsibility" in order to consistently trade at Sharpe 3-5, as if that were a viable path. It's not, neither for professional managers or anyone else.

Apparently you're hinting at scalping / market making at the retail level. At the same time, you find nothing wrong with operating a bucket shop. When in fact, limit order fills is what doesn't work in sim. There's no order matching engine, no queue position. It's based on assumptions and most likely fills a limit only when price trades through, a significant disadvantage resulting in adverse selection.

Any risk capital fake or imagined that backs an account, that ends up in a bank wire or check from the trading you do live or sim at such a company, comes off the backs of the losers who can't pass, who can't stay funded, and who pay pay pay pay. Why care? Just get paid and move on. It it isn't for you why care?

Just asinine.

 

[7out]

People pointed out that a 25000 account is really a 2500 account, because they only allow you to trade 10% of 25000.
But no one seems to pay attention that the requirement to make 10% in two months is really a requirement to make 100% in two month. Because a trader needs to make 2500 with 2500.
This is a job that no any trader in any prop firm dare to claim(with consistency).
To double one's account every two months consistently is out of human capacity. A trader can only earn a funded account by luck, not by skill.
So this model is really a kind of a casino game where house holds a huge edge.
As far as I know, traders who earned funded accounts were not those who made 0.5% per day and accumulated 10%(really 100%) in two months, but those who traded huge contracts and hit 10%(really 100%) in half an hour, were those who did not use any consistent strategy but gambled their accounts in a big way.
At least those gamblers make some money back (but as a whole they eventually lose money)and are much smarter than the fools who think they can earn funded accounts by some consistent strategies.

I'm so tempted now to take on one of the these companies with my strategies during volatile times (which I sense will approach again soon). If I time the combine start correctly with the volatility I require, I think I could pass this within their rules without much difficulty.

Which would be the best combine to do and is reasonable in cost (1 shot, no resets)?

I would also be immune from the loss from the top criteria, because the strategy I use would scalp 5 points from NQ for $100 at a time per contract when certain criteria is met during volatile periods with 90% accuracy and for 5-10 times in a full 23 hour trading session.

 

[traderjo]

With all due respect 7out.. if you have 90% accuracy then why bother with any such a firm.. try mini NQ , make money and then use those profits for THE NQ and keep 100%!

 

[7out]

With all due respect 7out.. if you have 90% accuracy then why bother with any such a firm.. try mini NQ , make money and then use those profits for THE NQ and keep 100%!

lol, I didn't mean I wanted to get into trading and do this. I was thinking of splurging a few hundred dollars and getting paid from one of these try out companies (personally, I don't care if they keep me on SIM or not as long as they pay me the profits).

PS, I trade pretty heavy. My daily swings are in the $K's. Just go through my previous posts and you'll see days where I make $3-4K.

 

[FlashGordon]

Nothing ever changes. (Not just you) Everybody is a Hot Shot on this boards. Entertaining a best. And most like to get the last word in. Will that be you?

 

[FlashGordon]

I'm so tempted now to take on one of the these companies with my strategies during volatile times (which I sense will approach again soon). If I time the combine start correctly with the volatility I require, I think I could pass this within their rules without much difficulty.

Which would be the best combine to do and is reasonable in cost (1 shot, no resets)?

I would also be immune from the loss from the top criteria, because the strategy I use would scalp 5 points from NQ for $100 at a time per contract when certain criteria is met during volatile periods with 90% accuracy and for 5-10 times in a full 23 hour trading session.

Good Luck!

 

[7out]

Nothing ever changes. (Not just you) Everybody is a Hot Shot on this boards. Entertaining a best. And most like to get the last word in. Will that be you?

Not sure what you're getting at!

I already trade (both a futures account and stock account) and have verifiable success - some which I have posted in Elite trader forum (just scroll through my past posts, one with img would probably show profit/loss blotter. Naturally, I would post only very profitable days.)

My involvement in this thread was simply thinking out loud (after reading this thread) to take on one of these combines (for a simple one shot attempt), which for me seems like a good return on investment if I time it correctly.

 

[QTrader20]

I'm so tempted now to take on one of the these companies with my strategies during volatile times (which I sense will approach again soon). If I time the combine start correctly with the volatility I require, I think I could pass this within their rules without much difficulty.

Which would be the best combine to do and is reasonable in cost (1 shot, no resets)?

I would also be immune from the loss from the top criteria, because the strategy I use would scalp 5 points from NQ for $100 at a time per contract when certain criteria is met during volatile periods with 90% accuracy and for 5-10 times in a full 23 hour trading session.

My scalping system's win rate is less than 90% and yet, it took less than 10 trading days to accumulate enough profits by using 1 contract per trade to pass any combine, as shown on ET before. What do you have to worry about with such a high win rate as you claimed?