My attempt to earn a funded account with Earn2Trade

[tango29]

I am hoping that your situation is not as dire as you make it to be. It maybe that this just isn't the profession for you, no matter how much you want it to be.
I have wondered about a few of the statements myself as I was thinking a few times that numbers weren't adding up right but attributed it to probably missing one somewhere along the way.

 

[trade2020]

In my opinion the amount of a stop needs to change with the market you find yourself in currently - a good rule of thumb in my opinion for S&P 500 is 10% of current daily average ATR. So for example if the daily average true range is currently 80 then a stop of 8 points.
In more volatile times like we had earlier in the year where it was about 130 then a stop of 13 points.
In "normal times" where it is 30-40 points then 12 to 16 ticks (3 points to 4 points)

IMO, you should not need more than a maximum of 10 points as a stop on ES in current volatility assuming your entries are good. Try plotting an ATR with a say 20MA on top to get an idea of the average stop size. If you're entering at the right moment, trading the edges and not in the middle, you should be able to get very crisp entries.

If you can hit a 60 % win rate risking 5 ES points and gaining 10 it looks pretty good from my point of view.

This does of course assume that you actually run your winners to 10 points or more and don't cut them short. Most people don't do that, so they're really running a system with a negative R/R ratio banking many small winners and eventually taking a big loss giving it all back and then some.

Simulation 4:

Risk 5 ($250) / Gain 10 ($500)

View attachment 290976

TL;DR:

Wide stops and a negative R/R ratio requires a very, very high win rate day in and day out. If you have a positive R/R you can do fairly well even with a lower win rate.

No matter how good you are as a trader you can't escape this fundamental math, so it's very important to keep in mind.

Of course, the magic happens when you can have a positive R/R ratio and a high win rate. That's EliteTrading and sadly achievable only for the few...

 

[SelfMadeDude]

It's clear that you're not really in a position to trade successfully, both practically/economically and mentally (quite likely a consequence of the first).

It's not even clear if you have a valid system/approach as you don't disclose much about that and frankly have not been making money lately. It's hard to know if this is because your system isn't sufficient or if it's the pressure you put on yourself that's sabotaging you.

I think you should take up @QTrader20 's offer to help you out. He's a nice guy and knows what he's doing. It could be a game changer for you.

I think you should also do your best to get a decent job like you're saying. With normal job hours you still have enough time on your hands to trade successfully and make good progress.

Not a bad idea to take a smaller (or longer) break from trading entirely either. The market ain't going anywhere. In order to reverse a path it's often necessary to first get back into neutral and usually the only way to do that is to take a break. Take some good walks in nature and get some perspective. There's more to life than this.

You can always reach out to me if you want to talk.

Good luck and best wishes!

The pressure has been a killer but I've also tweaked a few things. But absolutely, everything that other people have said is correct. I'll start publishing my stats via tradervue soon to provide stats.

I will definitely have to take Q Trader on his offer of assistance.

I'm sending my resume out by the dozens so hopefully someone gives me a chance.

Thank you for all your kind words and advice. I will DM you later and maybe we can chat.

 

[SelfMadeDude]

It is clear to me that you are now a human wreck in need of psychological help before worse things happen. You are totally incapable of speculating in this state.
I have the impression that you yourself do not realize that your current knowledge is completely insufficient to be successful. You've been trying to make money for over two years, but the results are almost negligible.
The first thing you need is money that you can spare. But you don't even have the money to pay for the most essential necessities. That's hallucinatory.
I know this sounds harsh but you have to face the reality. My intention is not to tear you down. I want to make it clear to you that in the current situation you have no chance of any success.

First improve your living conditions and only then can you make a new attempt. My goal is to help you, for that you have to face the hard truth.
We have a saying that bad doctors make stinking wounds.

I have all your published statements, and there are some errors or missing amounts. Amounts and account balances are incorrect, but apparently nobody bothered to check the statements. That should be the first thing one does, because everything is based on those statements. I will post an excel later with all the numbers of your statements and pointing out the errors.

Thank you for the tough love and brutal honesty -- I'm lucky that I don't have a handgun. Only reason I'm probably alive right now.

I also noticed the discrepancies in PNL....the most recent version includes PNL including commission but the previous ones do not I believe.

Thank you again...

 

[SelfMadeDude]

I am hoping that your situation is not as dire as you make it to be. It maybe that this just isn't the profession for you, no matter how much you want it to be.
I have wondered about a few of the statements myself as I was thinking a few times that numbers weren't adding up right but attributed it to probably missing one somewhere along the way.

Unfortunately, my current situation is as bad as I've posted. Actually worse when you consider my parents but that's another story.

I've scrapped together some extra cash from my Tradovate and IB accounts and now have a little more than $450. I spent $280 for another Earn2Trade evaluation -- it was on sale from $350 so I had to do it or risk doing something regretful to myself....it was a "moment" this morning when I hit the "max daily loss."

I've sent my resume like crazy this week so hopefully something will turn up. In the meantime, I have another 15 days to get "funded."

 

[SelfMadeDude]

DAY 1

 

[virtusa]

I'm lucky that I don't have a handgun. Only reason I'm probably alive right now.

I have a friend that I know for 40 years almost. He is my best friend. A few years ago he had huge problems (divorce and on top of that problems with tax inspectors).

He told me he wanted to commit suicide. I told him not to do that because it is not worth it. I told him that when his problems will be fixed he would be happy that he did not kill himself. About 18 monts later he thanked me and confirmed that it would have been a very stupid decision to suicide himself. He is since then happy with his life.
Suicide is NEVER a solution.

And never think: if this or that does not happen, I will kill myself.
Because that's what you basically said in your last post: "it was on sale from $350 so I had to do it or risk doing something regretful to myself...."

The word "regretful" indicates that you understand that you might do a stupidity. But one that you can never turn back, so don't do something you never can turn back.

 

[SelfMadeDude]

I have a friend that I know for 40 years almost. He is my best friend. A few years ago he had huge problems (divorce and on top of that problems with tax inspectors).

He told me he wanted to commit suicide. I told him not to do that because it is not worth it. I told him that when his problems will be fixed he would be happy that he did not kill himself. About 18 monts later he thanked me and confirmed that it would have been a very stupid decision to suicide himself. He is since then happy with his life.
Suicide is NEVER a solution.

And never think: if this or that does not happen, I will kill myself.
Because that's what you basically said in your last post: "it was on sale from $350 so I had to do it or risk doing something regretful to myself...."

Thank you. I have at least 3 posters (including you, of course) that I trust and respect on ET now.

 

[s trader]

Sorry to see you lost E2T account. My evaluation had about the same balance as yours was and i was secretly competing with the self-proclaimed best trader in the world. I did not think you would decide to go big or go home or i would suggest you did that in the last half hour of the session. Go big long into the close might have yield a different outcome jmho.

 

[Sprout]

Curious what you are changing to create a different outcome this time around.