The set of rules regarding the DD limits on both the Gauntlet™ and the live account are as transparent as can be, clearly indicated on our Gauntlet™ page and repeated here on a screenshot as well.(www.earn2trade.com/gauntlet) We understand the comment about having the exact same rules, however calling a set of rules dishonest when they are clearly marked at the point of entry to the product seems unfair. We give the max in the Gauntlet™ to give traders of all shapes and sizes room to execute their strategy, with a clear set of parameters as to what they will receive when funded based on how they do. Then, when funded, that risk is tightened up to how that individual trader did.
Whatever the intent, to have two sets of rules doesn't make much sense. It looks like the initial rules are very straightforward - 10% profit/10% max loss. Changing the rules after funding puts a whole new perspective on what you're offering. That's not clear at all on your front page. That's why it isn't exactly honest. If I pass the bar exam and then go into court and find out that the rules I learned had changed, I would certainly ask questions. Wouldn't you??
I have been practicing to take the Gauntlet again. ZTrader888, I would like to Thank You for your post as I did not realize the difference in Drawdown in the transition. I have never found Earn2Trade to be dishonest and I personally trust Ryan.
Come on ZT888. It is perfectly clearly stated. You make not like it but to get the full 10% with live money you have to meet the Guantlet drawdown schedule.
If I try to understand the drawdown policy better...it might be like this: in practice there is greater levity and the trader does not even come close to maxing out on the drawdown allowed. But... With real money things are tightened up a bit ES
Perhaps "dishonest" isn't the right word. But when facts are not clearly stated, you have to wonder what the motive is. The Gauntlet has one set of rules; a funded trader has another set. At the very least, it could screw up the stats on your strategy.
The Gauntlet is a test. And just like any other test, it should conform to a set of rules that are applicable in the real world.
I am taking the Guantlet and I know the details very well. The Gauntlet is a TEST and you have stated rules determining if you pass the test. The better grade you get on the Guantlet the greater drawdown you get with live money. It is clearly stated going in. Maybe you should read through it again.
Ztrader888, I understand your points. I personally treat the Gauntlet as a qualifier. I pay $349.00 to qualify for the real world. It is nice that it is easier to qualify and get an offer. But... I am not collecting $349 bucks either