Passed the SMB Futures tryout in 15 days

[trdes]

Why is it that anytime a person scrutinizes these business models ( like trader2020 did) he/ she is labelled as "someone who couldn't pass the gauntlet "' or the excuse of "It is a free world take it or leave it!"
I hope supporters of this kind of business clarify in clear term what trader 2020 has raised. TST is all silence !

The bottom line is either you can trade or you can't though. That's actually the issue that hurts people the most. People debating loan shark vs 20% profit split. It's just completely unrealistic and a waste of time. 20% profit split isn't going to make a difference at all if you can successfully trade. And if you hate the 20% split so much once you make the drawdown amount on the combine, just do a withdraw close the account and start your own.....

20% is unbelievably fair. If someone is trading your money who is actually good, consistent and can make large returns they often charge 50% of gains. Sure, you can find someone that charges less, normally that means they aren't as confident and also means they have less of motivation to actually make money with your money. It's like people that are happy only getting charged a 2% management fee. It's so backwards, someone charging 2% is literally just there to collect the 2%. They have no incentive to do anything with your money, nor do they generally care.


Again, I am sure there are some exceptions. I would never claim everything I said is 100% true in every case, but that's just my experience.

 

[traderjo]

“hamster wheel” label ...there is a reason behind that .. people are not stupid... it goes to the core of the business model what % are funded etc.. but I am sure you will dismiss it

 

[Earn2Trade]

“hamster wheel” label ...there is a reason behind that .. people are not stupid... it goes to the core of the business model what % are funded etc.. but I am sure you will dismiss it

Traderjo I'm starting to get the feeling that you are legitimately trolling us. You seem to be on a mission to disprove the industry business model entirely. Perhaps you morally disagree with it. Do you have similar qualms with paying for an examination to take a driver's test? Or paying for an SAT? Do you have a problem with standardized testing in general? I don't know what the pass rate is on the GRE, or the LSAT but I wouldn't call them a hamster wheel.

We believe our pass rates are high. We don't have a full year of stats calculated for the Gauntlet Mini, but in January last year when we calculated candidate pass rates for the Gauntlet it was over 20%. We posted that in an interview here: https://funded-trader.com/2019/01/23/interview-with-earn2trades-founder-ryan-masten/

It is likely not that high for the Gauntlet Mini, but are the rates relevant to you anyway? What are you trying to warn people about? We agree with you, "people are not stupid". If they have a long positive trading record they can take that record to a prop firm and hopefully they will get a seat. If they don't have a long record they can come to firms like us. You can call it "hamster wheel", or even "ferris wheel" if you like. Whatever you call it, it is an opportunity plain and simple.

 

[traderjo]

All I am putting forward is consumer point of view what the pitfalls could be in this model ( yours or others) infact I stopped referring to your business directly
and I am not the only one who is critical of this. It seems you just don't like pointed questions.

By the way passing a GRE can result in to a University Master degree ...
please don't compare it to your offering!
To clarify I never said this model is illegal ..just the way you are free to market your service people are free to question/ scrutinize any aspect of any offering!

 

[Earn2Trade]

All I am putting forward is consumer point of view what the pitfalls could be be it this model ( yours or others) infact I stopped referring to your business directly
and I am not the only one who is critical of this. It seems you just don't like pointed questions

“hamster wheel” label ...there is a reason behind that .. people are not stupid... it goes to the core of the business model what % are funded etc.. but I am sure you will dismiss it

Where is the "pointed question" in the comment above? It is simply a nasty allegation. We have no problem answering questions. We respond wherever we are asked.

 

[Peblo]

I like the SMB deal where it seems they add their profit share to the initial drawdown of $3,000 (PnL reaches $6,000 -> they take $3,000 BUT your drawdown increases from $3k to $6k - I expect that continues until the drawdown reaches $25k).
Unfortunately, their customer support is horrible and there are technical issues with the Dashboard. I just cannot get it to pass although I passed both E2T Gauntlet Mini and TST. But I will make it, eventually, as I think it is worth it. Just thinking how to best use all 3 accounts? Any suggestions?

 

[traderjo]

“hamster wheel” label ...there is a reason behind that .. people are not stupid... it goes to the core of the business model what % are funded etc.. but I am sure you will dismiss it

Where is the "pointed question" in the comment above? It is simply a nasty allegation. We have no problem answering questions. We respond wherever we are asked.

Hamster wheel is not a Nasty allegation but a aspect of this business model from a point of view of a trader / client that can be legitimately raised
If you can;t see legit questions and bully anybody who raises them then I dont want to spend any more time on this..you know what you win ... ok very ethical business...

 

[Peblo]

The only thing that is not fair with Helios is the withdrawal every month - if only they allowed the trader to accumulate profits in the account without reducing this "cushion" each month that would be great

 

[trdes]

They are running a business, so of course these companies will make sure the base structure will cover there expenses and make them net profitable. They aren't running a charity.

What they offer is a mix between sim and live money with a relatively low entry fees. For example: 50k test/combines/guantlets run like what $120-$170 depending on the company and if there's a promotion/discount going on sometimes you can grab them for $99-$120 ish.

That's giving you potential access to roughly $2k in capital if you're a good trader. That's where the person needs to do a cost benefit analysis and know if it makes sense for them to do that. It's a hybrid between just trading sim and having no chance of making real money or putting $2k of their own money in their account and risk not being prepared.

To pretend it's a good deal for everyone is disingenuous, but the same thing can be said on the opposite side it's also disingenuous to say that there is no benefit or no place for these companies.

 

[Peblo]

The business model is perfectly sound and legal and I am grateful to those people who are offering this service. Thank you, E2T and TST and SMB - some things can still be improved but they are not wishing you to fail or trying to cheat you.

It is so simple - every customer taking up such "combines" needs to have a strong conviction that the subscription money paid by the majority of other, unsuccessful customers, will be used to fund him, not the other customers. Everyone knows the stats - the vast majority of people will not make and, more importantly, KEEP the profits from trading. Take 1000 of such people, charge each one $100, give the few successful ones $10k and keep the rest as business gross profit. What is wrong with that?