But their website says you do not have to pay even when trading with Helios if you have your own data - can I still use the Rithmic login they gave me for sending orders?
Yes, All I did was put the E2T Rithmic order book (sized very small and select "always on top") on my own charts with my own data feed and enter the trades on the Rithmic order book. I am talking about E2T Gauntlet as I have no experience with Helios but it seems like it would probably work the same way.
When you use the Rithmic order book to place trades without data, does it show price ladder info on your DOM and are you able to use brackets, targets/stops still?
What will I do with this $1,000 drawdown limit in the live account? It is all because of technical glitches in R Trader Pro - but I will not pay again just to experience yet another problem. I will just try to give it a shot with $1,000 drawdown...
How exactly does the Helios mandatory 20% monthly profit split work? If I withdraw monthly, are they only taking 20% of the partial gains I withdrew? or are they taking 20% of all total gains?
How would you play with a $1,000 drawdown limit? Just put it all on one trade or grind it out with micros?
Someone from E2T can clarify if the following is incorrect but my understanding is that they take their 20% regardless of whether you choose to withdraw just a portion or none of it. My opinion is that I dont consider them taking their 20% cut of the profits generated (regardless of whether you only withdraw a portion (or none at all) to be a problem as they are providing risk capital for you to trade with and are entitled to their return regardless of how much you choose to withdraw (or leave in acct) example 1 - you choose to make a partial withdrawal: you start account- you earn $5,000 in net profits in month 1 (or whatever the cut off is considered for the period cycle that determines the 20% cut) - on $5,000 their cut is 20% ($1,000) you only withdraw $500 - they are not taking just 20% of your $500 which would be $100 - they are taking the $1,000 so $5,000 in net profits generated ($500) minus $500 you withdraw -------------------------------------- $4500 ($1,000) minus 20% cut on the $5,000 -------------------------------------- $3,500 left example 2 - you choose to make no withdrawal of profits: you start account- you earn $5,000 in net profits in month 1 (or whatever the cut off is considered for the period cycle that determines the 20% cut) - on $5,000 their cut is 20% ($1,000) you do not choose to make any withdrawal - they are taking the $1,000 so $5,000 in net profits generated ($0) minus $0 you withdraw -------------------------------------- $5000 ($1,000) minus 20% cut on the $5,000 -------------------------------------- $4,000 left
Appreciate the input. I hope someone can clarify, because that is really a worst-case scenario for anyone trying to build an account. Having worked with some props over the years, I don't think I've ever seen that, especially since you have to pay for a tryout to join the firm.
Yes, that is how it works with Helios - at the end of each month they take 20% of the net NEW profits (high-water mark rule). The same with SMB. The difference is that SMB increases your drawdown limit even if you withdraw - that is a huge factor in trading bigger size AND extracting some income along the way despite the 50% profit share. On the other hand, TST only take their cut when you withdraw. Any suggestions how to make use of a $1,000 drawdown limit? Or does it make no sense and I should just reset?