So, I'd like update everyone on my Gauntlet program. First and foremost, thanks to Ryan who has been really helpful through the process today. We had a hiccup this morning and that hiccup was solved almost instantly. Thank you, Ryan. I had a bit of an interesting situation this morning. I received an email saying that I didn't pass the program because according to their record I only traded for 27 days (3 days short). I contacted the customer support immediately and informed them that there was a mistake because according to my record and Journalytix (thanks to Peter's Journalytix at Jigsaw), I traded for 32 days. So, I sent them the snapshots of my Journalytix and the customer support was really helpful. He told me he would research this and get back to me. Ryan then jumped in and confirmed that there was a mistake on their end and that this was the first time this ever happened. For some reasons what's recorded on their end did not match with what's recorded in Rithmic. So, that was resolved almost instantly and I received an exciting email with a title "Your Conditional Offer Enclosed". So, I'm very thrilled to say the least. Anyway, just want to update everyone and thank Ryan for working on that kink. Record keeping helps both parties in this case. So, I'm glad I did that. I'll keep you guys posted to see how I'm doing with this next step.
The next step is still trading SIM with the same rules as the Gauntlet but I get to keep the profit from SIM trading up to $5,000. Once I hit $5,000, there will be another review for the live trading account.
The offer stipulates 80/20. I think he meant what offer did you get. He got the offer per the ladder we describe and the drawdown he had. We then gave him a bit extra due to the mistake we had.
So thinking about trying The Gauntlet. I normally avoid companies that advertise a trading trial for possible placement with a prop firm, since most are obviously just selling training. But I've so far not seen any complaints about earn2trade, and most important looks like people are actually funded upon demonstrating consistent net profit. Here's my situation - I avoid the day session because it is a snake pit of insiders who move the markets, and everyone else are what I call the 'reactors' to what the movers do. I think it's why 94% of all of us 'small, outsider' traders lose over time. Last year, in spite of a methodology that didn't involve using strict tight stops, I still profited for four months. But not long after adding the day market to my work I began losing over the rest of the year. So here's what I do now - avoid the day market like the plague - I will only trade the after-hours, and I trade the YM exclusively. I don't have much money to trade so am interested in being funded. Does the Gauntlet program allow after-hours trading, i.e. 6pmET-9:30amET, and is the YM included with the allowed trading instruments? Thanks, Bill
I don't know if I've asked this before, but why don't you allow folks to hold a position from 5PM ET to 6PM ET?
Requires posting up overnight margin and exposes the prop firm to additional risk while the exchange is closed.
When the exchange is closed, there is no additional risk because nothing moves. If the same rules that apply at 4:59PM also apply at 6:00PM, why can they not be simply transferred from one trading day to the next? An Idea I had about this is if you are worried about the overnight margin kicking in, then why not have a rule that allows traders to be in the overnight, but with less contracts? For example, you allow 15 contracts during the session on a 150K account. How about an adjustment to the account that if they want to swing, they can have only, say, 5 contracts through the close? It is not like the stops and targets get dissolved at the close of the market. You guys do GTC orders I assume. So maybe a check box for new trials they can select for being day only, or day+swing? Add some extra rules? I think that would get you some more customers...?