" newsletters from TST where they brag about how much they’re actually paying out to their traders." Do they disclose what % of traders got that payout? I doubt becasue if they do it will clearly show that these firms make money on tests fees
@wmwmw posted some great insight in the other thread. The profit goal needs to be seen in relation to the real account size, not in relation to the fake account size. Let's look at Gauntlet Mini "$150,000" fictional account to see what this means. The real account size is $4,500. A profit goal of $9,000 means one is tasked with no less than tripling the account. Effectively, one has to trade the given $4,500 into $13,500. Good luck with that, because that's what's needed. It's not going to happen on skill unless you're some Sharpe 3-5 unicorn. Even at Sharpe 3 it's a bad deal.
There's a progression ladder saying that you first need to generate $1500 of profits before you can trade more than 3 contracts. You exceeded that with 4 contracts. Considering the daily loss limit of $1750 (3,75 points gross on ES / 9 contracts) - it's not like you can trade 9 contracts anyway. And with the trailing drawdown - you can only hit your daily loss limit twice on that size anyhow. So just like you're not trading a 75K account - you're not really able to trade 9 contracts either in practice - unless you use a really, really tight stop or scale into a trade. I think E2T and similar make most of their $$$ selling subscriptions and to guys like you who don't properly learn the rules before trying it. The key to make it in such a program is to trade more conservatively. Maybe you'll get more capital and less rules as a funded trader further down the road? I wouldn't know as I've yet to hear from someone who's been long time funded with any such program.
The very fact that I get new emails from Earn2Trade offering some kind of discount every week should tell you how the business runs. I suspect it is on its last legs.
Hi clockwork71! We have been switching promotions every month since the beginning of the company. We also send a weekly "recap" type email on Fridays. If it seems like it's too much, I'll forward that observation to the marketing team, but it is not really indicative of how we stand.
I'm curious. Do you have any data on how many funded traders you have at the moment? My impression is that those who get funded will usually withdraw profits, but do you have any traders who actually built an account and gained access to a larger amount of capital further down the road? I'm sure most of your income is generated from selling subscriptions and fees which is totally legitimate, but I'm curious if there's actually been anyone who's made it beyond that with some degree of success. Thank you.
Did you not see the progression ladder on their website? https://downloads.intercomcdn.com/i/o/253693916/2f0a938dd130d4c6f21f0499/image.png