Hi to all ! I started an evaluation account with earn2trade.The account is at 50,300 and the time is 14:20 Chicago time,I have just closed 4 micros and I get a message that I have violated the time!!!!!! I contact the support and they tell me that I sent orders out of time and that I sent more orders. of course, the rule says 2 contracts and does NOT specify about the micros. After that, the account was closed. It is an unacceptable treatment, completely unprofessional
And just like that, 50K+ some profit is gone, simply because you executed a daytrade. Aren't you glad real-life is not like that? Moral of the story...Trade real life, not fantasy prop worlds.
In my experience these firms will make use of any excuse to eliminate your account as their source of income is from collecting fees and resets - not funding traders. That said, it does sound like you maybe broke some rule? If you didn't I'm sure they'll bring you back on?
You should trade Index cfds with FTMO or MyForexFunds who have much better rules if you are looking for such prop firms. I also created an excel sheets in thread evaluating prop firms here.
This is a quote from their website: "Please note that the following micro contracts: MES, MNQ, MYM, M2K, MGC, MCL, M6E, MHG can be traded for up to ten contracts and it'll only count as one contract towards the progression ladder. For example if the progression ladder allows you 3 contracts then you can either trade up to 3 ES, 2 ES & 10 MES, 1 ES & 20 MES or 30 MES." So something seems off here, according to this you should be allowed 20 micro contracts. Can you share some screenshots?
True, but on the other hand a trader should make sure they understand the rules fully before making a purchase. Sure, some companies have very strict rules, but you could always pick another firm. If you don't follow the rules and lose the account that's on you. I had some experience in the past with firms like these and recently a friend challenged me to do another one because he thought it was impossible. I am currently up $5,5K in the funded account after 10 trading day's. All i can say to people who are doing these kind of challenges: 1: make sure you know and understand all the rules. 2: Don't trade big size. Depending on the account you pick 1 or 2 contracts is more than enough. If you trade max size allowed you only increase the chance you will hit the DD.
How's the liquidity on those CFDs? Do they track the indices/futures accurately and can you get in/out where you want?
Of course. Nice job. Which firm may I ask? I think the parameters are perfectly possible to conquer. In fact I've passed them a few times. However, I just feel that they do their best to put up many hurdles which makes it clear they don't want you to pass. The last time I tried out E2T (about last year this time) I would get disconnected a lot. Orders freezed up and so on. To E2Ts credit they actually reversed those orders that I wasn't able to adjust myself. Still, very annoying. Live trading with Ninjatrader Brokerage I never have any issues at all.
Currently LeeLoo since that's the one he suggested. One thing I don't like is the waiting time before being able to make withdrawals and the limits to the first 4 withdrawals. I have 10 active trading days right now but cannot withdraw until i have 30 active days and for the other withdrawals i need to have a minimum of 10 active trading days between those withdrawals and then they only payout once per month which is far from ideal. Other than that i have no complaints.