Dear Elite Traders, We’d like to start off by thanking all of you for helping make the launch of The Gauntlet Mini™ last month an immense success. We’re especially grateful to everyone who signed up and gave us their feedback on it so we can continue improving it as we go. Going forward we’ll be making the following trader oriented changes to The Gauntlet Mini™. We’re removing LiveSim, traders will go directly to Helios after passing the evaluation. Traders previously had to go through a Live Simulator phase which was a paper trading account with the same terms and conditions as your offer, including the ability to request withdrawals immediately. It wasn’t a second evaluation, but rather a risk management procedure for the prop. firm. Helios decided to allow traders to skip this process for The Gauntlet Mini™ because its rules are stricter than the original Gauntlet™ so less risk management is necessary. The way you benefit from it is being able to request performance reviews for additional funding or trade-able assets from them sooner. We’re removing the daily loss limit for live accounts after the trader reaches profitability. After getting funded you will no longer be subject to a daily loss limit once you make enough profit for your loss limit to reach your starting balance. As an example, if you start your live account at $25,000 and grow your balance over $25,550 your daily loss limit will be removed. We’re raising the maximum position size and the progression ladder for micro contracts times ten. You will be able to trade up to ten contracts of all respective micros and it'll only count as one contract towards the progression ladder and maximum number of positions. For example if the progression ladder allows you 2 contracts then you can either trade up to 2 ES, 1 ES & 10 MES or 20 MES. This change will go live after 5:00 p.m. Central Time October 1st, 2019. Traders will no longer need to pay Helios for their data fees after getting funded if they already have their own data feed. If you already have your own paid data feed you can continue using it for charting after getting funded without having to pay Helios the additional monthly $105 per exchange, however, you will still need to execute trades through the feed they provide. Traders will be able to keep using NinjaTrader after getting funded regardless of license type. Previously you were only able to keep using NinjaTrader after getting funded if you had a license grandfathered into trading with 3rd party brokerages. Helios has now added a Leader-Follower service that will allow you to copy your trades from NT to Helios through a paper trading account. This means you're not interacting directly with the live market so there could be a small delay and you may not get the same fill. Traders who choose this option are responsible for monitoring their Helios account, since their loss limits are based on the Helios account, not the paper trading account. There's also an additional $25 ($50 if your user is more than 6 months old) data fee to maintain the paper trading account. We hope that these changes will enhance your Gauntlet Mini™ experience and make completing it even more rewarding. Please look forward to more future developments.As always our support staff is happy to answer any related questions. We welcome any feedback and appreciate your continued support, thank you.
I recently signed up for the original Gauntlet mainly because I did not want to be stuck with a max position size or the daily loss limit in the Gauntlet Mini. Are there any exact criteria to increase the max position size depending on the profitability in the Gauntlet Mini? Are they likely to be put into the official rules, as you now did with the daily loss limit? I am also going to use my own platform for placing orders - will I have to pay $105/month fee from my Helios account (or by card)?
Hello bpj, In the Gauntlet Mini™ you can only increase the position size up to the maximum position size as detailed in the Progression Ladder here, https://help.earn2trade.com/en/articles/3292351-what-is-the-progression-ladder-in-the-gauntlet-mini You can increase your position size once you are funded at the discretion of Helios Trading Partners. There isn't a precise metric determined yet, but you can speak with them freely once you are funded. You are not charged by Helios for your platform, but you would normally have to pay for the data feed from your card. If you are using your own data feed you would not be required to pay the pass through fee of $105/month per exchange, however you would still have to execute your orders through Helios'.
Hello Shahrin, When taking the Gauntlet™ or Gauntlet Mini™ you would be required to use Earn2Trade's Rithmic data feed. Once you are funded and receive a professional account, you could use your own data feed but you would have to still execute through Helios, and would not be able to use another broker to execute trades.
"At the discretion of" is why I opted for the original Gauntlet where I have all the capital that can be used for margin as determined by the exchange. In the Gauntlet I am doing now, I use the Rithmic credentials to place orders on my own platform but can still use RTrader Pro (e.g. in an emergency). For a setup like this in live sim and pro account with Helios - my own platform + RTrader Pro, will I pay $105 to Helios?
@bpj If you are using the data feed of Helios then yes, you would have to pay the additional exchange fees once you begin trading with them.
Does it mean I will pay just one $105 fee? Essentially, I will use the username for Rithmic connection provided by Helios but entered into my own platform.
Hey several questions for you as I just started my Gauntlet Mini. 1) Is Helios using the Rithmic exchange? I do not think Rithmic charges $105 per exchange. That is quite expensive. 2) What platform would be the best to use if I want to manage trades from my phone? 3) After getting funded, will I be able to hold trade overnight if my position is in profit and I have my stops placed on the market?