CAACAPITAL There is no point in arguing with these guys.... The very fact that people level criticism like"hamster wheel" is not for no reason.. but that gets ignored Genuine Prop firms don't charge people.. period. neither do they run a charity they do spend OWN money in hunting genuine talent. As soon as you raise this question they will say "Oh but we bring trading to masses ..LOL it is more like "Masses bring Test fees to us in bucket loads and we may fund very few In case of TST it seems they dont even risk real money after first 5000 ( othe rpeople have shown the maths on it) This business model is good for the owners but really is it really that good for customers....?
The OP original complaint was with the 3rd party app Finamark, which E2T properly addressed. I'm doing the mini and also have had problems with Finamark on my laptop. I have had orders show up (on the chart) but were not filled as they were not listed as "working". This is not E2T fault and Finamark support has been friendly and supportive. I found the solution is to use a direct cable feed to the router and refrain from using WiFi networks as they can't support the datafeed. Hope this helps.
The simple fact is that traders have a choice--a choice not to use firms like E2T and TopStep Trader to try to get funded on because their funded accounts have to many gotcha's (in my opinion) that make it clear (at least in my opinion) that they do not offer as good of a deal as other firms in the industry (such as FTMO) ---so why spend your time and capital and resources trying to get a funded account with anyone except those that offer the best deal in the end (and offer the most advantages in the traders favor) for a funded account. 1) In my opinion no one should try to get funded with any company that has a "trailing max drawdown" on funded accounts - they are for the benefit of the funding company only --and there is really no benefit to you --the trader--(in my opinion) when compared to using other companies that offered a fixed max drawdown Lets point out the main differences between a "trailing max drawdown" and a fixed max drawdown" Lets say as an example - you have passed the initial trial challenge phase(s) and have moved onto having a funded account Funding Company A offers a $3,500 "trailing max drawdown" on your funded account and an 80-20 profit split (80% to trader and 20 % to the funding company) and Funding Company B offers a $3,500 "fixed max drawdown" on your funded account and a 70-30 profit split (70% to trader and 30% to the funding company) Now at 1st glance you might be inclined to say--obviously funding company A is the better deal because they offer an 80-20 split and funding company B only offers a 70-30 profit split But lets take a closer look at the fine details and different nuances of each to see the truth 1st lets start off with a profitable trading day and then you have losses that take you back to even for the day--lets see the differences between the 2 different types of funded accts Example 1 (Company A with $3500 "trailing max drawdown" on funded account - On company A with a $3,500 trailing max drawdown (that is typically calculated intraday) - lets say you are having a good trading session and you are up $3500 in the session - lets say you have a $100,000 starting balance account so now your intraday balance is $103,500 and that the $3,500 in closed profits represents your high balance (including unrealized profits--meaning you closed out all positions at high profit of the day--more on this later) - so you so far had a high unrealized and realized profits that are the same $3,500 - and your current balance is $103,500. Now lets say you open another position and unfortunately it goes against you and you lose $3,500 and Now you are back down to $0 on the day--you havent made anything but you also havent lost anything--but in most cases --even though you are now at even on the day--you have lost something--you have lost your funded account because according to most companies trailing max drawdown rules on funded accounts you have violated the max trailing drawdown of $3,500 and now your funded account is closed and if you want to have a funded account with this company you will need to start over and pay for a new challenge to pass. Keep in mind that some funding companies even take this 1 step further and will consider your "unrealized potential profits" as the "high point of the day" to which they then set the meter running on the trailing max drawdown. So how does that work you say - we lets take the same example - you are having a good trading session you take a long position on the Nasdaq 100 emini futures - it spikes very quickly and then starts tapering off - now your position at the high was worth say $3,500 in profits -----IF----- you had closed it all out at the high--but you didn't as you though it would go higher or frankly you just werent fast enough to close it out at the high--in any event--no matter what the reason you didnt close it out at the high of your unrealized profits so instead when you closed it you closed it with only a $2,000 profit--which is still great--but not if you have someone who is funding you that calculates the "trailing max drawdown" from the hypothetical unrealized high profit of the day--which in this case would be $3500 but you didnt close it out at the high that you could have had if you knoew that was the end of the spike--instead you got out with a realized profit of $2,000 but you still had an unrealized potential profit of $1500 more meaning you could have had a $3500 profit. But your trailing max drawdown (from some companies) calculates your $3500 from the unrealized high of the day----so now you may be thing you have a $3,500 cushio left (your $2,000 profit plus another $1500 because you have a $3500 trailing max drawdown--right?)---wrong, the trailing max drawdown from some companies in their funded accounts is calculated from the the high profit of the day--realized or unrealized--(whichever is greater) so in this case you only have $2,000 left as a cushion and once your account drops back to $0 you have failed. So again you could be up $2,000 on the day (but you could have been up as much as $3500) and if you then lose $2,000 and go back to even for the day--you have violated and you are out. Example 2 (Company B with $3500 "fixed max drawdown" on funded account On company B with a $3,500 fixed max drawdown (that is also typically calculated intraday) - lets say you are having a good trading session and you are up $3500 in the session - lets say you have a $100,000 starting balance account so now your intraday balance is $103,500 and that the $3,500 in closed profits represents your high balance (including unrealized profits--meaning you closed out all positions at high profit of the day--more on this later) - so you so far had a high unrealized and realized profits that are the same $3,500 - and your current balance is $103,500. Now lets say you open another position and unfortunately it goes against you and you lose $3,500 and Now you are back down to $0 on the day--you havent made anything but you also havent lost anything--but in this case you still have $3,500 drawdown left to trade against as a cushion. Now that you are back at even for the day with a $0 balance you have not violated the drawdown and you still have your funded account. The same thin applies on any intraday unrealized profits--so unlike either of the above 2 scenarios with company A--in either scenario Company B has your back and still gives you a $3,500 cushion below the zero line because Company B (in my opinion) is trying to give you a structure that offers real revolving funding credit line 2nd lets look at the differences of the 2 different types of accounts for withdrawing your profits Example 1 (Company A with $3500 "trailing max drawdown" on funded account) - Lets say you just started and had a good 1st month - you made a total of $5,000 in profits for the month and now wish to make a withdrawal to pay your bills. The split with Company A is 80-20. You request a withdrawal of $5,000 and the company takes their 20% cut which is $1,000 and sends you the remaining balance which is $4,000. You then get a notice from Company A that says your funded account has unfortunately been closed as you have no more drawdown left. Even though you only withdrew your profits--because of the way more trailing max drawdowns are calculated in funded trader accounts - your trailing max drawdown is eliminated dollar for dollar as you make profits-so if you have $1,000 in profits on day 1 of trading now (with the way some companies rules calculate it on funded accounts) you now have $1,000 less of a trailing drawdown because you made $1,000 in profits so now it is $2500 not $3500. Once you have made $3,500 or more in profits then the trailing max drawdown is removed in many cases and now your drawdown is the $0 line --essentially meaning you have no more funding and you are now trading your own profits--if you withdraw those profits then you also reduce your cushion dollar for dollar as well--withdraw all $3500 in profits and your account (in most cases) is closed as you have no more cushion Example 2 (Company B with $3500 "fixed max drawdown" on funded account) - Lets say you just started and had a good 1st month - you made a total of $5,000 in profits for the month and now wish to make a withdrawal to pay your bills. The split with Company B is 70-30. You request a withdrawal of $5,000 and the company takes their 30% cut which is $1,500 and sends you the remaining balance which is $3500. You now can keep trading just like day 1 as you still have $3,500 fixed drawdown meaning you can go up to $3,500 below the zero line before you have failed. In this scenario you can withdraw all profits to zero every week or every month-etc and always have your starting funding. Or if you want to leave a positive balance in the account then you have the positive balance plus the $3500 (unlike example A above where all you would have left as a cushion is your positive balance) Example Company A - you make $5,000 in profits with company A and withdraw $4,000 which leave $1,000 positive balance in your account - now that is all you have left to trade with--$1,000 cushion Example Company B - you make $5,000 in profits with company B and withdraw $4,000 which leave $1,000 positive balance in your account - now what you have left to trade as a cushion is $4,500 (the $1,000 positive balance you had left in your account PLUS the $3,500 fixed max drawdown for a total of $4500 to trade with VS only $1,000 with Company A with a trailing max drawdown
Our Gauntlet program offers a fixed max drawdown. Two candidates just passed today. The results will be posted in the company's Instagram stories tomorrow. You can read more about The Gauntlet here if you are interested: www.earn2trade.com/gauntlet
Do you give people who pass the mini-Gauntlet and follow the rules for 60 days a fixed drawdown, or are they always on the trailing drawdown?
Firstly, and just to clarify, Earn2Trade doesn't set the live account parameters, Helios does. To answer your question, when you pass the Gauntlet Mini you would maintain the Trailing Drawdown at Helios.
Do all candidates who pass The Gauntlet have their Gauntlet fees refunded or just those in the 2% Or less drawdown category? The maximum drawdown depends on your performance in the Gauntlet™ and is based on the following chart: Drawdown in Gauntlet Drawdown Offered 2% or less $2,500 and a full refund 3% or less $2,000 4.5% or less $1,750 7% or less $1,500 10% or less $1,000. https://www.earn2trade.com/gauntlet#
Compare E2T's regular Gauntlet to FTMO - in my opinion FTMO is still hands down much better than even E2T's regular gauntlet that offers a fixed drawdown 1) FTMO also offers a full refund of challenge fee if you pass -just like E2T 2) However----FTMO offers a challenge (and starting funded acct if you pass) with a starting max daily fixed loss of $5,000 and a max fixed drawdown of $10,000 VS E2T Gauntlet only offers max $2500 fixed drawdown. Also FTMO doesnt scale your passing to possibly give you less than the full drawdown like E2T does based on The maximum drawdown depends on your performance in the Gauntlet™ and is based on the following chart: Drawdown in Gauntlet Drawdown Offered 2% or less $2,500 and a full refund 3% or less $2,000 4.5% or less $1,750 7% or less $1,500 10% or less $1,000. https://www.earn2trade.com/gauntlet# Additionally - with FTMO if you take the specific challenge and pass - you get the full refund and the full daily loss limit ($5,000) and full max drawdown ($10,000)--its not scaled like E2T based on your ending metrics Also FTMO differs in that FTMO offers a transparent upfront listed path to follow grow your account size 25% every 4 months (and more importantly grow your daily loss allowed by 25% every 4 months and max fixed drawdown by 25% every 4 months) --most other companies just say they will review each account on a case by case basis and give no clear answer or pathway upfront in writing that guarantees an increase in both account size as well as max drawdown--etc if you perform specific metrics over time. You as a trader have a choice of where to spend your valuable time, resources and money trying to get a funded account. In my opinion it makes the most sense to go with a company that gives you - the trader - the most advantages in passing the challenge--and more importantly your starting funded account--also important are how they treat your withdrawals, and what ability they give you to grow both your account size, daily loss limit and "real" account fixed drawdowns using their funding over time by performing, and their transparency to the trader in all aspects