Thanks, Big APPL. Likewise. I think once a trader is able to "master" / "control" the real-time trailing drawdown then he is seriously on track to some serious trading success. Let's be honest, a real-time trailing drawdown is a seriously difficult thing to keep in check and it took me some serious soul-searching to work on the psychological aspect of my trading strategy. The technical analysis took me 15 years to develop so if I don't have that in check by now, I have no business trading and I know it's only been 2 weeks with the E2T evaluation but I feel like I have made some serious progress (knock on wood). I also have been more empowered after gaining more trust in Earn2Trade as a legit company and I will report on my experience with their corporate ethics (you know what I mean....) Stay tuned...
I will show you guys trading for a funded account is a worse option as compared with trading with your challenge fee. Assume traders A and B have the same trading skill level. A pays $429 to earn a funded account. B trades on $429 at a small forex broker account, which allows him to trade smaller unit. Here is such a broker.It offers 500 times leverage and low trading cost that is roughly comparable to trading futures. https://coinexx.com/?franchiseLead=MzkxNjg5 And also if you want to trade ES,NQ and YM, it offers US indices products. Since A need to make 10% and can not exceed 10% drawdown, or he will lose $429. B can increase his leverage 10 times as A and if he lose 100% he lose $429. So both have the same risk. Assume A manages to make 10% and earn a funded account at the end of two months. Assume there are 42 trading days in two months. So A make average daily profit of 0.0023(1.0023^42=10%). While B uses 10 times leverage and make average daily profit of 0.023. So B make 266% profit at the end of two months.( 1.023 ^42=266%) At the end of two months: A earns a funded account; B makes $429X266%=$1141. At the end of 4 months: A make $2000(25000X10%X80%); B makes $1141X266%=$3035 At the end of 6 months: A makes $2000; B makes 3035X266%=$8073. At the end of 8 months: A makes $2000; B makes 8073X266%=$21474.
Don't fret...I got killed today as well, as I was in bear blindness mode. Gotta just shake it off. I like the way you are progressing so stay the course (no pun intended). Just one thing: I see 19 Qty, is that ES or MES?
Cheers, Big APPL. I'm not too distraught -- I lost money the right way -- in the past, I would have revenge traded but I know that tmrw is another day -- not a big deal. It's a combination of both ES and MES -- the big loss was on an 1-lot ES short for about 11 points other than that it was all MES.