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Earn2Trade - Orianna Foucault (Director of Support) - Ask Me Anything (AMA)

  #301 (permalink)
emini2000
Atlanta GA USA
 
Posts: 285 since Aug 2013
Thanks Given: 70
Thanks Received: 271

Just one more question for you @Earn2Trade. So if I want to trade the sim Gauntlet feed as opposed to the 'live' Gauntlet feed, just check 'Trade Simulation Mode On' under 'Trade' in Sierra and that will be the sim Gauntlet feed?

Again, I really appreciate all your prompt replies and help on the connection issue.

Thanks!


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  #302 (permalink)
 
Earn2Trade's Avatar
 Earn2Trade 
 
Posts: 201 since Jul 2018
Thanks Given: 9
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emini2000 View Post
Just one more question for you @Earn2Trade. So if I want to trade the sim Gauntlet feed as opposed to the 'live' Gauntlet feed, just check 'Trade Simulation Mode On' under 'Trade' in Sierra and that will be the sim Gauntlet feed?

Again, I really appreciate all your prompt replies and help on the connection issue.

Thanks!

No problem! Please do not use simulation mode in Sierra, your account will not get trades. You'll need to change the account sierra is trading into by selecting it on the DOM or chart mode.

Earn2Trade
www.earn2trade.com
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  #303 (permalink)
 garyboy275 
wa/ usa
 
Experience: Intermediate
Platform: Rithmic
Trading: "CL ES 6C 6E" NQ only nowadays
Posts: 266 since Oct 2012
Thanks Given: 202
Thanks Received: 454


@ryan @Earn2Trade

Question on your "maintain consistency" rule. I tried chatting with support and it didnt get cleared.
On any given day you cannot count more than 30% of profit goal. I get that part. But the second part where it says that


"You do not fail, if one day accounts for more than 30% of your total profits. You have to continue trading, until that day accounts for less than 30% of your total profits."

So if you are in 50k combine you cannot count more than 900 for any particular day towards the 3000 profit. (30% of 3000=900). but say if one day you make 1050(150 more than allowed 900) and now your account balance is 3200 do you meet the target as long as other rules are met or not ? The example you posted on your site is at 80% for failed one and for the other example that passed he doesnt go over the 30% rule so there is no example of what i am talking about.

Reason for asking is cause that one day (1050) is showing up as 32.8% of the profit target which is right but do you trade until you make extra $150(the excess over 900) or do you trade until you make 3500 which will make 1050 be less than 30%. ( 1050/3500 =30%).

What would be profit target in such a case if someone goes over the 900 for single day for 50k account ?

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The following user says Thank You to garyboy275 for this post:
  #304 (permalink)
 HighCall79 
 
Posts: 14 since Jul 2020

Hello! Is a "K1 statement" a simple resume of my profit/loss within the LLC? Or does it contain a highly detailed list of my trades? Would any European Earn2Trade partner share how they handle it with local tax authorities? Thank you very much!

  #305 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

As I interpret it, if you make an oversized profit on one day you need to demonstrate that you can make a similar amount on 2 more days.

e.g. if you make 2000 on one of the days you will need to make similar amounts for two more days pushing up your target from 3000 to 6000.


garyboy275 View Post
@ryan @Earn2Trade

Question on your "maintain consistency" rule. I tried chatting with support and it didnt get cleared.
On any given day you cannot count more than 30% of profit goal. I get that part. But the second part where it says that


"You do not fail, if one day accounts for more than 30% of your total profits. You have to continue trading, until that day accounts for less than 30% of your total profits."

So if you are in 50k combine you cannot count more than 900 for any particular day towards the 3000 profit. (30% of 3000=900). but say if one day you make 1050(150 more than allowed 900) and now your account balance is 3200 do you meet the target as long as other rules are met or not ? The example you posted on your site is at 80% for failed one and for the other example that passed he doesnt go over the 30% rule so there is no example of what i am talking about.

Reason for asking is cause that one day (1050) is showing up as 32.8% of the profit target which is right but do you trade until you make extra $150(the excess over 900) or do you trade until you make 3500 which will make 1050 be less than 30%. ( 1050/3500 =30%).

What would be profit target in such a case if someone goes over the 900 for single day for 50k account ?


Visit my NexusFi Trade Journal
  #306 (permalink)
 12VMan 
Raleigh, NC USA
 
Experience: Intermediate
Platform: Sierra, Ninja, TV
Broker: EdgeClear, Ninja
Trading: CL, GC, ES, UB, ZB
Posts: 48 since Mar 2015
Thanks Given: 15
Thanks Received: 18

I am considering doing the Gauntlet. I already have a trading account through another broker that uses Rithmic and R Trader Pro. Would I be able to trade this account and the Gauntlet account from the same PC using R Trader Pro? If so, how does that work? Is there a way to toggle between accounts on the DOM?

  #307 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 641 since Apr 2015
Thanks Given: 2,322
Thanks Received: 1,049


iqgod View Post
As I interpret it, if you make an oversized profit on one day you need to demonstrate that you can make a similar amount on 2 more days.

Maybe I have it all wrong (wouldn't be the first time) but that's not my reading of it at all.

It seems to me that you just can't have as much as 30% profit from any individual day's results, but you could (for example) trade for 72 days, making 1% of your profit per day on each of 71 of those days, and the remaining 29% all on one day.

I can't see anything about "making a similar amount" on any days?

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  #308 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


Tymbeline View Post
Maybe I have it all wrong (wouldn't be the first time) but that's not my reading of it at all.

It seems to me that you just can't have as much as 30% profit from any individual day's results, but you could (for example) trade for 72 days, making 1% of your profit per day on each of 71 of those days, and the remaining 29% all on one day.

I can't see anything about "making a similar amount" on any days?

We are saying the same thing, so I agree with you. Variation of the same theme.

20% x 5 days

30% x 3 days and an odd 10% day

1% x 71 days and an odd 29% day.

And to be honest this rule sucks completely, which is why I'm doing a Gauntlet and not a mini-Gauntlet.

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The following user says Thank You to iqgod for this post:
  #309 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Also, if you make 100% on one day, you need to make 100% for two more days. Er... if you 'mistakenly' make 200% on the third day then a new monster looms.

My take was mainly on outsized profitable days.

If you are good then you need to be consistently good.

I realized it was a hamster wheel, see my posts after such a huge day:


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  #310 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476


Hi guys,

It is my pleasure to welcome Chris Gray for our 396th webinar event, on Tuesday, July 28th @ 4:30 PM Eastern US.

The title for the event is "Getting Comfortable with Price Action Patterns", and bullet points include:

- Chris defines the price action concept as it applies to futures trading.
- Buckle up for a visual ride of commonly occurring patterns used by traders on a daily basis with successful results.
- Covering and applying entries to some of the most iconic patterns such as: "head and shoulders", "rounding bottom", "bullish rectangle", and more!



Register for the event:
https://on.nexusfi.com/ygu02

Mike

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