Unless you're already profitable and have some history trading with them, why don't you trade with Helios for a while to show you can make yourself and the company some money and then ask for more. I imagine that like any company they will be open if they think there is a reason to put more of their money at risk.
Passed the SMB Futures tryout in 15 days
- Thread starter trade2020
- Start date
Unless you're already profitable and have some history trading with them, why don't you trade with Helios for a while to show you can make yourself and the company some money and then ask for more. I imagine that like any company they will be open if they think there is a reason to put more of their money at risk.
That's fair. As long as they're open to negotiations. Shows they care about retaining successful partners/traders. Great.
I am sorry. I tell you what's preposterous. Charging someone 20% indefinitely even long after you recovered your initial risk.
If I got $2000 from a loan shark with 100% interest. That means after I pay it back I am DONE! Free and clear.
But with e2t or TST it never ends. Say trader made 50000 in profits next three years. You get a cut of $10000 of it. For what ? $2000 you provided THREE YEARS AGO.
What is the justification for ongoing 20% cut ? Are you providing the platform or data ...NOPE! Further capital risk ? ...NOPE! What's the trader getting from this relationship after you recovered your initial risk. why would anyone smart enough to trade for a living stay in this deal after the first withdrawal ?
One thing you said is true - > Not for me. Your regular gauntlet seems to be the real deal for anyone serious about trading or getting funded.
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For Traders considering funding options there is another company that appears (on the face)--in my opinion--- to offer a superior funding deal in the long run to E2T and TST and that is FTMO.com
Do your own due dilligence on FTMO and dont take anything for granted including any opinion I have about it
One downside is that they only offer Forex trading and not trading on Futures
however my understanding is that it is possible to trade S&P 500 and Nasdaq through CFD's which are not as transparent as emini market - so you have to weigh the possible downside of trading S&P 500 and Nasdaq via CFD's under this program VS the financial benefits of the FTMO program and it what ways it may be superior to E2T and TST as far as your own situation and goals for long term trading success and profits
Here is an interesting YouTube review channel of funded trader programs and their review on FTMO.
Funded Trader Life channel
https://www.youtube.com/channel/UCS1JfMEL_6m1kSfWMG0aX0g/videos?view=0&sort=dd&flow=grid
They also have reviews on TopStep's program and Earn2Trade's program and a few others.
And no this is NOT a shill post for this youtube channel--I have no affiliation with the guy that runs it and get nothing for mentioning it --I only mention it as I think it may be useful info for some of the traders on here to review
FTMO Review
Earn2Trade Review
Topstep Trader Review
SMB Capital Review
Do your own due dilligence on FTMO and dont take anything for granted including any opinion I have about it
One downside is that they only offer Forex trading and not trading on Futures
however my understanding is that it is possible to trade S&P 500 and Nasdaq through CFD's which are not as transparent as emini market - so you have to weigh the possible downside of trading S&P 500 and Nasdaq via CFD's under this program VS the financial benefits of the FTMO program and it what ways it may be superior to E2T and TST as far as your own situation and goals for long term trading success and profits
Here is an interesting YouTube review channel of funded trader programs and their review on FTMO.
Funded Trader Life channel
https://www.youtube.com/channel/UCS1JfMEL_6m1kSfWMG0aX0g/videos?view=0&sort=dd&flow=grid
They also have reviews on TopStep's program and Earn2Trade's program and a few others.
And no this is NOT a shill post for this youtube channel--I have no affiliation with the guy that runs it and get nothing for mentioning it --I only mention it as I think it may be useful info for some of the traders on here to review
FTMO Review
Earn2Trade Review
Topstep Trader Review
SMB Capital Review
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Last I checked it's a free world. If people don't like the 20% cut, they could leave when they want. They aren't locked in any contract of any sorts. I think most people probably do. Companies like Earn2Trade, TST, etc are good for people who want to test the waters for a set amount. If they make it to being funded then great, maybe they proved to themselves they can trade within a set of parameters and trading is viable. I'm sure anyone who makes it to being funded is fully capable of doing basic math and deciding if they want to pay the ongoing 20%.
You come off as more someone who couldn't pass the gauntlet or combine and are mad about it, so now you are going to say they are ripping people off. Pretty sure everyone is fully aware how their business models work.
You come off as more someone who couldn't pass the gauntlet or combine and are mad about it, so now you are going to say they are ripping people off. Pretty sure everyone is fully aware how their business models work.
I passed both E2T's mini-gauntlet as well as SMB Capital's tryout so you must be directing this statement to someone else who replied in this thread. I believe all the funding companies including those 2 provide some value to some degree - I just believe that TST and E2T in particular could offer traders more.
Obviously if a trader you doesnt like what TST and E2T offer then they should just go with another funding company or trade their own money or make a deal with private investor's to start a fund properly and legally and trade the private investors money with an agreeable max drawdown and daily loss limit and profit split. However I dont really see anything wrong with bringing into the conversation what the real funding deal is with each major company so a fair comparison can be made and openly discussed about each funding company.
Obviously if a trader you doesnt like what TST and E2T offer then they should just go with another funding company or trade their own money or make a deal with private investor's to start a fund properly and legally and trade the private investors money with an agreeable max drawdown and daily loss limit and profit split. However I dont really see anything wrong with bringing into the conversation what the real funding deal is with each major company so a fair comparison can be made and openly discussed about each funding company.
You sound like you work for one of the companies. See it works both ways.
I wasnt aware of the stupidity of the deal they were offering. I personally was interested in taking the challenge however I thought their drawdown resetted after a withdrawal until I saw this thread and signed up just to post it here. I am glad trade2020 started this thread because this "little detail" is not talked about much anywhere else.
e2t regular gauntlet seems to have a fixed drawdown which resets after a withdrawal I assume. In that case they are offering an ongoing capital risk as long as you keep the account open. 20% cut in that case makes perfect sense and fair.
cenettixx Here is the problem with Earn2Trade's regular Gauntlet (in my opinion)
Before I get into the problem here is the outline of the Gauntlet
1) Manage a $25,000.00 virtual account over a 60 calendar day period
2) Submit a Trading Plan in the Dashboard
3) Trade a minimum of 30 calendar days and once per week
4) Reach a 10% profit target by the end of The Gauntlet™
5) 10% Maximum drawdown
The problem is that the max offer you will get (if you pass the gauntlet) will vary widely according to the max drawdown you generated in your 60 days of trading throughout the gauntlet simulator. Keep in mind that unless you happen to be an extremely disciplined trader--a 2% max drawdown ($500) over the entire 60 day period in order to get a profit target of $2500 is extremely difficult.
In any respect it is a 5 to 1 ratio with a 2% drawdown to get the most funding after you pass (see below) - lose no more than a $500 to make $2500 or more profit - conversely the mini gauntlet is typically a 2 to 1 ratio - for example the $150K mini gauntlet is a max drawdown of $4500 and you must make a $9,000 minimum net profit--so 2 to 1.
More than likely I would expect most traders would fall into the 5% to 7% drawdown range which means in the end you would have spent 60 days of time and $429 of cash (unless you had to reset which means more cash and more time) in order to most likely only receive $1371 of net funding to $1071 of net funding per the below
Again if any of this math is wrong please have an Earn2Trade rep chime in to correct and present corrections
Net funding math on drawdown in Gauntlet 4.5% or less
Drawdown in Gauntlet 4.5% or less - Drawdown offered $1,750 (minus $429 spent on gauntlet----meaning your "net" funding from the traders perspective is really $1371 - $1,750 minus the $429 spent on the gauntlet since no refund)
Net funding math on drawdown in Gauntlet 7% or less
Drawdown in Gauntlet 7% or less - Drawdown offered $1,500 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $1071 - $1,500 minus the $429 spent on the gauntlet since no refund)
Here are all the different drawdown levels and corresponding funding
Drawdown in Gauntlet 2% or less - Drawdown offered $2500 and a full refund of $429 spent - --meaning your "net" funding from the traders perspective is really $2,500 - $2,500 because you get a refund of the $429 spent on the gauntlet)
Drawdown in Gauntlet 3% or less - Drawdown offered $2000 (minus $429 spent on gauntlet--meaning your "net" funding from the traders perspective is really $1571 - $2,000 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 4.5% or less - Drawdown offered $1,750 (minus $429 spent on gauntlet----meaning your "net" funding from the traders perspective is really $1371 - $1,750 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 7% or less - Drawdown offered $1,500 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $1071 - $1,500 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 10% or less - Drawdown offered $1,000 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $571 - $1,000 minus the $429 spent on the gauntlet since no refund)
Before I get into the problem here is the outline of the Gauntlet
1) Manage a $25,000.00 virtual account over a 60 calendar day period
2) Submit a Trading Plan in the Dashboard
3) Trade a minimum of 30 calendar days and once per week
4) Reach a 10% profit target by the end of The Gauntlet™
5) 10% Maximum drawdown
The problem is that the max offer you will get (if you pass the gauntlet) will vary widely according to the max drawdown you generated in your 60 days of trading throughout the gauntlet simulator. Keep in mind that unless you happen to be an extremely disciplined trader--a 2% max drawdown ($500) over the entire 60 day period in order to get a profit target of $2500 is extremely difficult.
In any respect it is a 5 to 1 ratio with a 2% drawdown to get the most funding after you pass (see below) - lose no more than a $500 to make $2500 or more profit - conversely the mini gauntlet is typically a 2 to 1 ratio - for example the $150K mini gauntlet is a max drawdown of $4500 and you must make a $9,000 minimum net profit--so 2 to 1.
More than likely I would expect most traders would fall into the 5% to 7% drawdown range which means in the end you would have spent 60 days of time and $429 of cash (unless you had to reset which means more cash and more time) in order to most likely only receive $1371 of net funding to $1071 of net funding per the below
Again if any of this math is wrong please have an Earn2Trade rep chime in to correct and present corrections
Net funding math on drawdown in Gauntlet 4.5% or less
Drawdown in Gauntlet 4.5% or less - Drawdown offered $1,750 (minus $429 spent on gauntlet----meaning your "net" funding from the traders perspective is really $1371 - $1,750 minus the $429 spent on the gauntlet since no refund)
Net funding math on drawdown in Gauntlet 7% or less
Drawdown in Gauntlet 7% or less - Drawdown offered $1,500 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $1071 - $1,500 minus the $429 spent on the gauntlet since no refund)
Here are all the different drawdown levels and corresponding funding
Drawdown in Gauntlet 2% or less - Drawdown offered $2500 and a full refund of $429 spent - --meaning your "net" funding from the traders perspective is really $2,500 - $2,500 because you get a refund of the $429 spent on the gauntlet)
Drawdown in Gauntlet 3% or less - Drawdown offered $2000 (minus $429 spent on gauntlet--meaning your "net" funding from the traders perspective is really $1571 - $2,000 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 4.5% or less - Drawdown offered $1,750 (minus $429 spent on gauntlet----meaning your "net" funding from the traders perspective is really $1371 - $1,750 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 7% or less - Drawdown offered $1,500 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $1071 - $1,500 minus the $429 spent on the gauntlet since no refund)
Drawdown in Gauntlet 10% or less - Drawdown offered $1,000 (minus $429 spent on gauntlet - --meaning your "net" funding from the traders perspective is really $571 - $1,000 minus the $429 spent on the gauntlet since no refund)
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Its not a great or even a good offer but at least they provide you with capital even if its $1000 with the option to negotiate in the future. One time gauntlet fee and 20% cut on top, of course they will cover whatever they give you and some, they're a business I get that.
The way I look at it as what I am getting for the money I am paying in this deal. I want access to capital and nobody's going to give that to you for free.
If I make $1000/week and withdrawal weekly. With say $2000 drawdown, after each reset and their 20% cut I get access to $2000 capital with $200. Not a great deal but fair. Heck $2000 cash advance from a credit card would have interest somewhere around $50 a month.
With their gauntlet mini or TST, I pay $200 to use MY OWN $2000. Its just beyond this world stupid.
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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 !
With all due respect we’ve responded to all manner of questioning over the past two years. A fair amount of that has been accusations or hyperbole. Just in this thread we’ve been accused of running a “hamster wheel” and being less useful than a loan shark. The requests of Trader2020 are that we alter the terms to make them more attractive to him and possibly to others. We believe we offer good terms and are proud of the work we are doing.