They have a trailing stop loss, which means that if you make profit the lowest balance you can go up to goes up as well. For example your balance is $25000 and you have 1 open trade which gives you 1000$, however you didn't take profit because you expected that price would go up even more but unfortunately you had to close your position at break even, so your balance is still at $25000 however your trailing stop went up with 1000$. It is explained here: https://speeduptrader.zendesk.com/hc/en-us/articles/360016056414-What-is-maximum-drawdown- Earn2Trade is the only funding company without a trailing stop loss. Both Speedup and Oneup have trailing stops based on open positions, TST has a trailing stop calculated by end of day balance.
Oh I see, thanks. Actually, I kinda like it ... It forces you to trade "conservatively" until you are no longer putting principal at risk. Not sure if I like the open pnl being taking into account, but I guess they don't want you catching a "lucky" runner and holding it forever(which you are unlikely to do with real money). But I understand now what he means that it's catered to scalpers.
@Earn2Trade-Ryan Is Helios Trading Partners willing to offer fixed parameters of a funded account before the Gauntlet begins? For instance, if you reach $30,000 we will give you $25,000 with 80% split and $5,000 loss limit? Why is there nothing like that? Now you can give everyone the minimum $10,000, 60% and $1,000 loss limit and you will meet your promise
I have reached 28,03% profit ($7008,24) with a draw down of just 3,89% and i received $25,000, 80% split with 10% draw down, so i don't know what kind of numbers you need to generate to receive 20% draw down but it seems like very few traders will actually get the 20% DD.
Thanks. Can anyone else provide their stats, please? At least this way we could all have some kind of openness about this issue.
Hello Lukas, Our concept has been to offer maximum flexibility to our Gauntlet™ candidates by not placing limitations around the way they can trade. This idea of allowing freedom to the trader also came at the cost of allowing freedom to the funding firm. We try to be as clear as possible without defining exactly how one should trade to achieve higher offers. However there are some key considerations we mention on our site. The most important is profit to drawdown ratio. The funding firm wants the least amount of risk against the highest possible reward. This is a strict business decision and likely doesn't need to be explained. Following that principle, the funding firm also prefers to see a trading plan that is adhered to as closely as possible. These two points go a long way towards showing the risk profile of the trader. Further points taken into consideration include the consistency of the style of trading, whether the trader is a scalper, swing trader or otherwise. The Gauntlet™ guarantees an offer of 10K to hit the minimum goals. The offer is clear about what can be offered within the band of 10-25K. While the majority of our candidates have expressed satisfaction with their Guantlet™ experience, we recognize that this lack of strictly defined targets has proven to be frustrating for some. We're currently mulling over some significant positive changes to our Gauntlet™ which should address this issue. The key for us is to maintain an open trading environment with the absolute minimum restrictions. I'm confident you'll see this issue addressed in the very near future.
Hi Ryan. It would be interesting to see a sample of a trading plan you expect to see. Obviously, you can't share something that is revealing strategy/set ups, but I would assume most candidates are TA based and thus somewhat vague as to what their strategy is (Something like - I enter when I see support hold and put my stop below support's low point). Would it be possible for you to publish/summarize what you expect of a typical trading plan? Thanks! @SpeedUpTrade-Marcello, not sure if you have the same requirement ... if you do, same question to you please. P.S. While looking for answer to my own question, found below. Maybe of use to people(Has a nice comparison table) https://funded-trader.com/my-trading-plan/
I am not affiliated with Earn To Trade, nor any of the other business conceptual setups of learning/earning in this fashion, never have spoken to any of them. But how is this any different than going to college? We or government pays for the education, books but not our time, then hopefully get hired and then whoever has to teach us our jobs. If you were to become realty agent, you only get paid when you sell a house and had to pay for education so you can get licensed. People, ever wonder why college is required for most professional employment where they going to teach you how to do your job? To reduce the masses from applying, college costs money and your lost time of getting through it. Employers don't want a non knowledgeable dimwit who don't already has "time invested". If there was no cost upfront, there be MASSES of people doing several accounts at one time like Larry Williams had when he made over 10,000%, one of them made it big. I am sure whatever the costs to do one account, they not making a fortune, they could never handle masses of people applying, you have to pay employees enough to keep them from going elsewhere. You think what you pay is going to cover an employee more than half week wage? As far as one who offers to front someone to trade has to have rigid rules and only seeking the best of the best, I think it is insane payout 80% to people who mostly don't have funds to trade without someone else's funds. And 2 months is like not enough time to give anyone, if someone was to become a CTA, have to pass test, get lawyers to set up documents, CPA to keep track of the numbers then start a history of your own trading as most people want to know how well you done past 3 years, all this and charge 20%. Nothing in America is free, are you? Education is not free, ever add up how much you lost in money going to college four years?
Hello qlai, We recommend everyone to submit a trading plan that provides as much relevant detail as possible without divulging any proprietary setups. We don't want to know your secrets! We want to be able to look at your trading plan to make sense out of your trading style. Be as detailed as possible to get that message across. The trading plan link you posted at funded-trader.com is a great reference. It doesn't reveal proprietary information and provides enough information for the prop firm to perform an analysis.
Can you reveal when this change will happen? 1 week? 1 year? What will the criteria be - at least a clue?