My attempt to earn a funded account with Earn2Trade

[nooby_mcnoob]

The more (uncorrelated) assets I trade, the easier it is for me to be profitable. I can keep scaling up and not risk any more money than usual. I just have to avoid being over exposed, sometimes everything correlates and at that point, it's easier to just trade one.

A smart person would open 3 or 4 different trading accounts with these prop firms, and just do one or two trades per account, per day, each dedicated to a different asset. One for oil, one for indices, one for gold, one for USD, one for EUR, etc.

You guys think this is hard, but this isn't hard. Even if you have a 50% win rate, but you trade once a day per asset that's 4 trades a day. Long run, 2 wins, 2 losses, with 2:1 RR you are profitable. And this is not a hard stat to achieve.

 

[nooby_mcnoob]

PS: as for the OP, you are clearly not in a good state of mind. Just go get a job, there is nothing wrong with trying again later.

 

[SelfMadeDude]

First you have to define how many "traders" there are on ET.

AH. Very true......only people with real skin in the game.

 

[Overnight]

The more (uncorrelated) assets I trade, the easier it is for me to be profitable. I can keep scaling up and not risk any more money than usual. I just have to avoid being over exposed, sometimes everything correlates and at that point, it's easier to just trade one.

A smart person would open 3 or 4 different trading accounts with these prop firms, and just do one or two trades per account, per day, each dedicated to a different asset. One for oil, one for indices, one for gold, one for USD, one for EUR, etc...

But you are paying 3-4 times the price of a single account for the eval fees. So it seems a break-even proposition.

 

[nooby_mcnoob]

But you are paying 3-4 times the price of a single account for the eval fees. So it seems a break-even proposition.

I don't know how they work, but if the idea is to make $2K in profit before you get refunded your fees, I think it's pretty much free.

 

[Overnight]

I don't know how they work, but if the idea is to make $2K in profit before you get refunded your fees, I think it's pretty much free.

No, it's per account. Not whatever K spread out over multiple account into one conglomerate, master account.

 

[nooby_mcnoob]

No, it's per account. Not whatever K spread out over multiple account into one conglomerate, master account.

I know but isn't the idea that you make some profit per account before you get an offer + refunded?

 

[Overnight]

I know but isn't the idea that you make some profit per account before you get an offer + refunded?

It's just 3-4 times the workload. You get whatever profit on the one account, fees refunded ( whatever that is), and you lose on the other 3 accounts. The losses of those 3 accounts negate your gains on the 1 profitable account, and push you into negative territory.

It would be simpler to trade those 4 different instruments on one account.

 

[nooby_mcnoob]

It's just 3-4 times the workload. You get whatever profit on the one account, fees refunded ( whatever that is), and you lose on the other 3 accounts. The losses of those 3 accounts negate your gains on the 1 profitable account, and push you into negative territory.

In the long run, you'd have to be REALLY BAD to not be able to hit at least either a 50% win rate with a 1.1 RR or a 25% win rate with a 3.1 RR on a single asset trading just once a day. That's probably worse than random. It's pretty much a casino that trends. How can you not make money buying dips in an uptrend, or selling rips in a downtrend.

(Answer: your stops and your entries suck. Easy problem to solve in both cases)

 

[Overnight]

...How can you not make money buying dips in an uptrend, or selling rips in a downtrend...

Nooby, you damn well know the answer to that question. It's as obvious as the question itself. Because you never can truly know when the trend reverses!