My attempt to earn a funded account with Earn2Trade

[SelfMadeDude]

My trading concentration is super sharp from 12-4 but I really need to get it back to 10-4 to take advantage of some of those morning moves.

 

[Overnight]

...I will do a max of 20 MES contracts but I tend to feel most comfortable with a max of 15 MES. I've come back from steep losses before so now the mindset is that "I can easily come back from a $500" loss and patiently wait for the next opportunity since I'm mainly looking at the 1M chart even though I'm a multi-TF charter at heart...

How the hell you are doing this on a 1M chart is beyond me.

 

[nooby_mcnoob]

MES only. I employ a scale-in and scale-out strategy for both booking gains and losses based on the chart movements and my ability to minimize/maximize gain/losses. I will do a max of 20 MES contracts but I tend to feel most comfortable with a max of 15 MES. I've come back from steep losses before so now the mindset is that "I can easily come back from a $500" loss and patiently wait for the next opportunity since I'm mainly looking at the 1M chart even though I'm a multi-TF charter at heart.

The patience is slowly creeping in to gel as a habit. Feeling very happy. Especially since that approx. $3K loss a few sessions ago. Most people would have crumbled.

I've always been a bit of a gym junkie. Need to get back into muay thai training to hone my killer instincts. Used to train for like 6 hours everyday with Coban....back then.

Most failing traders have many small positive days and one massive loss day. You're not out of the woods. If you cannot have multiple trades equal to your biggest loss you are not ready.

The easiest way to meet that requirement is to keep losses small.

-250
-500
-125
2500
-100
250
-250
5000

This is what good realized pnl per contract would look like.

 

[SelfMadeDude]

How the hell you are doing this on a 1M chart is beyond me.

It depends on being in sync with the higher TFs like the daily, 4h and 1h -- and a combo of other indicators but mostly gauging market reaction to econ data which is why I have now started to trade in the late morning/early afternoon since I can get a more accurate read on the market sentiment.

 

[SelfMadeDude]

Most failing traders have many small positive days and one massive loss day. You're not out of the woods. If you cannot have multiple trades equal to your biggest loss you are not ready.

The easiest way to meet that requirement is to keep losses small.

-250
-500
-125
2500
-100
250
-250
5000

This is what good realized pnl per contract would look like.

Those numbers look real....sharp!

 

[Overnight]

It depends on being in sync with the higher TFs like the daily, 4h and 1h -- and a combo of other indicators but mostly gauging market reaction to econ data which is why I have now started to trade in the late morning/early afternoon since I can get a more accurate read on the market sentiment.

Put that shit on pause on July 27th. You'll thank me later.

 

[nooby_mcnoob]

Those numbers look real....sharp!

It is an example of what a good PnL flow looks like and what new traders should aim for.

 

[SelfMadeDude]

Put that shit on pause on July 27th. You'll thank me later.

I'm always thankful for your colorful commentary.

 

[Lucas_Paul]

Collective2.com,

---------------

Let's say a trader's 6 monthly returns are : 10%, -3%, 12%, 5%, -4%, 8%, etc.

I hope you can see where I am going with this, but I will spell it out for you. Just because he had 2 months of slight losses that doesn't mean that his equity curve isn't going up over the long run. He is a profitable trader judging annually. Yet applying these backer's DD threshold he would be kicked out, just because he had very small DDs. (never mind if it is monthly, same logic applies to daily or weekly)

Your example is a perfect pass to that exam. Your draw (assuming that you didn't have a higher open DD any time at that period) is very well contained given the profits you make. All you have to do is just cut your position size in half (so everything is twice the size of those numbers) and you'll fit the -3% draw criteria.

Think of it this way:

That -3% should be considered your full account. So, if you breach it, you're account is empty. And then trade accordingly. That's it.

That is my problem with these firms. They don't have the trader's best interest in their sight, in fact they act like bucket shops trying to get any profitable trader to be kicked out.

Most of these firms are scams anyway, there're many "criterias" that suddenly jump up to cause you reset again and again and they have no intention to find talent traders.

Here's a read from a guy i know and trust for a long time. He did a nice overview of these firms business models:

https://paracurve.com/2022/07/funde...ve-into-how-they-work-no-affiliate-links.html

 

[Lucas_Paul]

It is an example of what a good PnL flow looks like and what new traders should aim for.

Yep, should

But 99,99% can't.