Trying out an E2T TCP 50

[Sekiyo]

Thanks @Laissez Faire for sharing your experience.
Congrats for being profitable despite your paper thin edge
You're staying professional, calm and cool under the pressure !

That's one of my weakest point in my trading,
I am not into the habits of letting my winners run.
Because I am always fearful about losing my open PnL ...

I shared NT's trade by trade statistic @ Post #41
My average reward to loss ratio was 0.78
Not disastrous in itself as I aim for >=1

But it was before the last 2 horrible days,
Took monstruous losses I ain't proud about.
Lost 26% then 35% the day I failed the combine.

These are definitely not in the plan,
I could have avoided them.

If I was actually following the plan,
I'd be able to let my profit run and avoid disaster.

Been stupid, did not mitigate mistakes.
Didn't accept the fact I could be wrong.

 

[Laissez Faire]

That's one of my weakest point in my trading,
I am not into the habits of letting my winners run.
Because I am always fearful about losing my open PnL ...

-

Took monstruous losses I ain't proud about.

I suppose that's because human psychology is wired against us in trading, so you have to learn to do what's not natural for you. This great quote by Livermore sums it up:

“Instead of hoping, he must fear; instead of fear, he must hope. He must fear that his loss must develop into a much bigger loss and hope that his profit may become a big profit.”

Generally, never put yourself in a position where the outcome of one single trade (or day) means too much either win or loss. If you're an active trader that means making a huge amount of trades, so focus on the process and the outcome after say > 100 trades. There will be losses, scratches and wins. If you have that perspective, it may be easier to cut the loss on that one trade. And if you always take your initial entry on your smallest size, it should be insignificant as you know that you can spring back on your next big winner by adding to the trade.

The hardest losses to take are when we overleveraged, maybe start moving our stops and eventually it turns into a hope trade because we're willing to gamble it all on that trade going back in our favor as the loss by now is too large to take. Been there too many times to remember. No more.

Of course, you can't just trade on hope alone, so you need a way/method to be able to take home some big winners. If you already have that and just have psychological issues, just practice it in the simulator. Don't move your stop until the trade is well in the green and practice letting it run all the way to target. Because realistically, that's what you need in order to be able to come out ahead.

The other option is to be a very high win rate scalper as your losses will typically be inverse to the size of your wins. It's definitely possible to accomplish, but personally I think it's harder as it's difficult to maintain a >75 % win rate consistently. Even those who can do it for longer periods of time will eventually take a few big losses in a row which can do a lot of damage.

 

[wmwmw]

I will compare myforexfunds challenge:
20000 account
2400 fixed drawdwon;
profit target: 1600 in 30 days in phase 1; 1000 in 60 days in phase 2.
price: $139 one time fee.
You get one free extension(keep your profit) of another 4 weeks if your account is positive at the end of challenge without breaking the rules; and unlimited free retakes(account with new balance) if your account meets same above requirements.

So if you took mff challenge instead, in your first N2T challenge, you would not lose your account;
in your second e2n challenge, you have passed phase 1.
While the fee you pay $139 is much less than what you paid to e2t, $190 if you stop; $285 if you want to continue.

 

[Sekiyo]

I will compare myforexfunds challenge:
20000 account
2400 fixed drawdwon;
profit target: 1600 in 30 days in phase 1; 1000 in 60 days in phase 2.
price: $139 one time fee.
You get one free extension(keep your profit) of another 4 weeks if your account is positive at the end of challenge without breaking the rules; and unlimited free retakes(account with new balance) if your account meets same above requirements.

So if you took mff challenge instead, in your first N2T challenge, you would not lose your account;
in your second e2n challenge, you have passed phase 1.
While the fee you pay $139 is much less than what you paid to e2t, $190 if you stop; $285 if you want to continue.

Once you pass the challenge,
Looks like you’re stuck with a 2,500$ trailing DD

Is there some kind of progression ?
More available capital ?

Do you trade with them ?

 

[wmwmw]

Once you passed mff challenge, you have a funded account with 2400 fixed drawdown, and you will need to keep your account positive at the end of first 30 days to get a withdrawal. After that, biweekly withdrawal if your account is positive.
If your funded account have 2 months positive in 4 months, you get 30% scale up.
If you want to get more capital, you can simply use the profit from your funded account to buy bigger challenge, which has same effect as you work on your current account.Or you can just leave your profit in your funded account without withdrawing them. So in effect your account capital grows up in the same way, because they have fixed drawdwon.
And you get 140% of your fee refunded once you get funded.

Yes, I have funded account with mff.

 

[deaddog]

These are definitely not in the plan,
I could have avoided them.

If I was actually following the plan,
I'd be able to let my profit run and avoid disaster.

Been stupid, did not mitigate mistakes.
Didn't accept the fact I could be wrong.

Might I suggest you ignore the PnL and focus on following your plan.
As soon as you deviate from the plan close all trades and quit for the day.

 

[Sekiyo]

Might I suggest you ignore the PnL and focus on following your plan.
As soon as you deviate from the plan close all trades and quit for the day.

Great suggestion.

To recognize the mistake and to fix it by closing all trades.
Take a break. Move on. Come back later.

 

[Sekiyo]

Looks like the best combine is E2T 150K based on reward to risk
If Reward is (Payout / Cost) and Risk is Cumulative Return to Payout

The TCP50 doesn't look like the best Reward to Risk investment

Anything below 1 is a scam
No need to 17x to receive 15x your money xD

 

[Sekiyo]

No need to 17x to receive 15x your money xD

No need to 27x to receive 15x your money

 

[Sekiyo]

Looks like E2T Changed their Gauntlet
They removed the 25K and added the 200K

Added the TCP25

Updated TST with the fact that they don't take 20% below 5K

Added Uprofit but they take 50% for withdrawals from day 1 to 41.
80% Thereafter ... Used 80% for the Payout.

Added Apex ...
They take 0% up to 25K withdrawal then 10%

LMAO Rules of Apex
Follow the Code of Conduct ?

It means nothing ... Can they FAIL your account based on this gibberish ?
They should remove it from their rules. Can't take them seriously.