I'm thinking of trying out soon and I'm wondering about people's experiences. Note: Yes, I know of other firms and please don't post your opinion of it if you haven't tried it.
There's another post on here about it - that OP had a good impression. Thought it was more realistic than the other "education" firms
I passed the SMB tryout. It was much more difficult to pass than other tryouts in my opinion as you have $1,000 daily loss limit and $3,000 max drawdown (*plus adhere to 2 addl rules--see below) but you need to make a $5,000 profit so it is a 5 to 1 ratio on daily loss limit versus profit needed to pass VS other tryouts that have as an example a $2,000 daily loss limit and $6,000 profit target which is a 3 to 1 ratio Additionally another reason the SMB tryout is harder to pass in my opinion is that there are 2 additional rules in their tryout you have to adhere to as well* 1) No single day P/L can account for more than 75% of your overall P/L when being considered for funding and 2) Take as long as you need, but trade a minimum of 15 trading days Only days you trade count as a trading day. (Do not meet the profit target and proceed to scalp for 1 tick each day to attempt to count those as genuine trading days- we will not count them) Meaning you cant just have 1 big profit day that accounts for most of the minimum $5,000 profit target required then just "run the clock out" by trading very small the rest of the days to meet the 15 trading days requirement. The positive spin on that in my opinion is that those 2 additional rules from SMB help to make sure that you can make profits trading the similar risk in varying market conditions which is probably a good thing in general for you the trader as well. Of course on the other hand Topstep also makes you prove that you are a consistently profitable trader by passing 2 tryouts in a row so that also shows consistency. But obviously the main thing is getting funded so many traders do not view the addl 2 rules as a positive but a negative as it makes it harder to pass. E2T to my knowledge doesn't require passing 2 tryouts one after another like Topstep does so if you are comparing E2T versus Topstep I would say in my opinion E2T is superior to Topstep in that regard. Also E2T appears to pay out the profits to the trader in a way that may be more favorable come tax time https://help.earn2trade.com/en/articles/2090499-how-am-i-taxed-when-trading-for-helios , versus Topsteps method of paying out profits to the trader https://help.topsteptrader.com/hc/en-us/articles/236069127-How-are-my-profits-reported-on-taxes- SMB does offer a fixed drawdown on their program versus a trailing drawdown for Topstep and E2T mini-gauntlet. Most traders consider a fixed drawdown to be better than a trailing drawdown as a fixed drawdown is based on going into the negative from the $0 line whereas a trailing drawdown is not ,but its up to each individual to decide that for themselves as to which type of drawdown is better for them and their trading style and profit withdrawals while keeping your drawdown intact while also weighing in other factors of the overall program they offer under funding with a trailing drawdown, meaning while the funding may come initially with a trailing drawdown associated with it and not fixed drawdown---- there may be other factors in that funding program offered which in your opinion outweigh the trailing drawdown and make it better for you than having a fixed drawdown. E2T does offer a fixed drawdown on their regular gauntlet program but it takes 60 days to pass the regular gauntlet VS minimum 15 days to pass the E2T mini gauntlet. So from that standpoint the E2T regular gauntlet also forces ou to prove consistent profitability over a long period of time which is a good thing but keep in mind that if you fail the regular gauntlet and have to reset it or just take a new one then its another 60 days to pass it VS if you fail the E2T mini-gauntlet it is just minimum 15 days so if you are in a hurry to pass and get funded then the E2T mini-gauntlet or SMB's tryout or Topstep offer a quicker path to passing and getting funded assuming you can pass in the 15 days versus 60 days for E2T regular gauntlet. There is a guy who runs a youtube channel that has video reviews about various tryouts and funding programs. I am not affiliated with it at all but I found his reviews to be helpful so you may want to look at his reviews of SMB, E2T, Topstep and others to help you in deciding who is best for you and your particular situation https://www.youtube.com/channel/UCS1JfMEL_6m1kSfWMG0aX0g/videos?view=0&sort=dd&flow=grid
Awesome thanks! How quickly was the turnaround from when you hit the profit target to when you started trading a funded account? Also, do you participate in their programs where you meet with their trading coach, etc.?
Hi it took me the minimum 15 days to pass SMB tryout. I did not participate in any of their training or coaching programs.
Thanks! I'm more curious about how it is after you passed the tryout. After you hit the minimum, how soon after did you start trading for SMB? Also, as a trader for SMB, do you participate in any of their group trading sessions, mentoring, etc.?
nothing really to tell you. I passed it, still have no live funded acct set up, hopefully they will set up soon. I have nothing more to say on the matter at this time