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My Gauntlet journal
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My Gauntlet journal

  #311 (permalink)
Singapore
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Favorite Futures: ES, CL, NG, XAUUSD, USDJPY
 
dyst's Avatar
 
Posts: 71 since May 2015
Thanks: 34 given, 50 received

I am having the same problems as you bro. The rithmic d/c caused me some losses think about it you lost 250$ that is 10% already of max total dd. I do not so good in these current markets (as you described) wish I knew what kind of day it was in advance so I can avoid trading on those smaller range/slower 'trend' days.

Thing is, the max dd 2500$ is so little that you have to use really small stops which means you can't do swings (more profitable) and are stuck scalping on micro time frames where signal strength is not as strong as those fr say the hourly or daily chart.



RDK91 View Post
I did everything exactly the same, if i had a signal i took it and calculated the stop and target the same way i did in the Gauntlet.

At some point i made a small adjustment to the strategy however this resulted in less losing trades, i ranked my trades from 1, 2 and 3 from being a strong signal to a mediocre signal and in the latest part of the live sim i only took the signals that where the best, however it didn't work out. If i hadn't done that the 10% would have be gone even earlier.


Numbers work... Magic lies in the numbers
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  #312 (permalink)
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 380 since Jun 2016
Thanks: 93 given, 673 received

A few weeks later and another update.

As i have mentioned i have done loads of testing the last couple weeks and i came to some conclusions.

1. I was trading 3 different time frames on NQ, all 3 where profitable however just barely, more than 90% of the profit came from 1 time frame. So i have decided to focus on this time frame only going forward.
2. After my risk:reward was 1:1 i moved my stop to break even, backtest results showed me that this was a bad thing to do since the indexes often go up a few points, reverse a few points and then continue to go up in the original direction. A lot of trades where closed early because of the stop at break even.
3. I have been doing some test on ES as well and backtest results look promising, i will include ES to my system and just like NQ, only 1 time frame. Also same as NQ, stops will not be moved to break even.
4. In back testing both NQ and ES the results showed me that only trading the best setups (previously i explained that i started rating my entry's from 1 to 3 and only the signals with the highest score would be entered at the end of the funded account) is the way to go. This way i avoid to many entry's in which i have no or little confidence.

I might start another attempt for a funded account soon, however i am unsure if i will go with E2T this time.
Let's be clear, i still like them very much, probably more then their competition ... The only downside for me is the fixed 2 month period. With other companies i can get trough this fase much faster once i reach the profit target.

Just as an example, with forward testing during 4 trading day's (April 16, 17, 18 and 23) i have made a combined net profit of $1585 with 19 trades. 13 on NQ and 6 on ES and 92% win rate on NQ and 83% with ES.
This is just from one week but this is forward (live) testing, backtests showed similar results however obvious with a smaller win rate. All trades where 1 contract.
So with profit targets like this it would be a waste of time to spend 2 months trying to make 3K if i can get 50% of the target in just 4 trading day's.

The only thing that scares me a little bit is that i would prefer a lower win rate with similar profit results The lower the win rate the smaller the downside. With an 80% win rate it will be very hard to improve and very easy to have a longer period with significant worse results (as i have experienced during the funded account).

What do you guy's think?

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  #313 (permalink)
Market Wizard
Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
 
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Posts: 3,852 since Oct 2009
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RDK91 View Post
...
I might start another attempt for a funded account soon, however i am unsure if i will go with E2T this time.
Let's be clear, i still like them very much, probably more then their competition ... The only downside for me is the fixed 2 month period. With other companies i can get trough this fase much faster once i reach the profit target.
...

Have you considered explaining them your situation and that you intend to take another round but are unsure given the 2 month period if it will be with them. But if they could accomodate you, you'd prefer to go with them. Who knows, maybe they will offer you a deal.

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  #314 (permalink)
burlington, vt
 
Trading Experience: Advanced
Platform: Sierra
Favorite Futures: NQ
 
Posts: 173 since Aug 2015
Thanks: 64 given, 313 received


RDK91 View Post
A few weeks later and another update.

As i have mentioned i have done loads of testing the last couple weeks and i came to some conclusions.

1. I was trading 3 different time frames on NQ, all 3 where profitable however just barely, more than 90% of the profit came from 1 time frame. So i have decided to focus on this time frame only going forward.
2. After my risk:reward was 1:1 i moved my stop to break even, backtest results showed me that this was a bad thing to do since the indexes often go up a few points, reverse a few points and then continue to go up in the original direction. A lot of trades where closed early because of the stop at break even.
3. I have been doing some test on ES as well and backtest results look promising, i will include ES to my system and just like NQ, only 1 time frame. Also same as NQ, stops will not be moved to break even.
4. In back testing both NQ and ES the results showed me that only trading the best setups (previously i explained that i started rating my entry's from 1 to 3 and only the signals with the highest score would be entered at the end of the funded account) is the way to go. This way i avoid to many entry's in which i have no or little confidence.

I might start another attempt for a funded account soon, however i am unsure if i will go with E2T this time.
Let's be clear, i still like them very much, probably more then their competition ... The only downside for me is the fixed 2 month period. With other companies i can get trough this fase much faster once i reach the profit target.

Just as an example, with forward testing during 4 trading day's (April 16, 17, 18 and 23) i have made a combined net profit of $1585 with 19 trades. 13 on NQ and 6 on ES and 92% win rate on NQ and 83% with ES.
This is just from one week but this is forward (live) testing, backtests showed similar results however obvious with a smaller win rate. All trades where 1 contract.
So with profit targets like this it would be a waste of time to spend 2 months trying to make 3K if i can get 50% of the target in just 4 trading day's.

The only thing that scares me a little bit is that i would prefer a lower win rate with similar profit results The lower the win rate the smaller the downside. With an 80% win rate it will be very hard to improve and very easy to have a longer period with significant worse results (as i have experienced during the funded account).

What do you guy's think?

It sounds like you are over-optimizing for current market conditions. What about two weeks from now, when maybe another one of your timeframes is getting all the profit? For the long-run, maybe just pick one timeframe and stick with it, as they will probably all average-out to the same in the end, though having 1 will be less commission. Can always add another pair for diversity.
Also, maybe you should solidify your trade plan first before putting money in some sort of combine. You have too many uncertainties right now and are looking to get funded at the same time. Nothing will ever be 100% in your trade plan, but there shouldn't be a ton of what-if's either.

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  #315 (permalink)
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 380 since Jun 2016
Thanks: 93 given, 673 received


karentrader View Post
It sounds like you are over-optimizing for current market conditions. What about two weeks from now, when maybe another one of your timeframes is getting all the profit? For the long-run, maybe just pick one timeframe and stick with it, as they will probably all average-out to the same in the end, though having 1 will be less commission. Can always add another pair for diversity.
Also, maybe you should solidify your trade plan first before putting money in some sort of combine. You have too many uncertainties right now and are looking to get funded at the same time. Nothing will ever be 100% in your trade plan, but there shouldn't be a ton of what-if's either.

I have just live tested for 1 week, so yes this might sound as optimizing but i also have data from the beginning of January up until now from the Gauntlet and funded account. Backtest results are going back even further and include the bear market we had at the end of 2018.

The time frame i have selected now will on average give me 4-5 trades per day, to me this seams much more reasonable since the higher time frame i was using wasn't having a trade for multiple days at some times but the losses where much larger. While the smaller time frame was giving much more trades but most of them where stopped out because the stop was to small for NQ.

For diversity, i am now going to do NQ and ES and i am still looking into other instruments.

My trading plan is 100% mechanical so there are no what-if's, it could be automated if i knew how to do that . All the changes i am making now are just to decrease the chance to get another painful draw down period as i have experienced during the funded account. The base strategy is still exactly the same as the one that gave me these wonderful results during the Gauntlet. Basically the only difference now is that i rate my setups from 1 as worse to 3 as best and now i will only be taking the setups that are rated as 3.


Last edited by RDK91; April 24th, 2019 at 12:14 PM.
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  #316 (permalink)
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 380 since Jun 2016
Thanks: 93 given, 673 received


trendisyourfriend View Post
Have you considered explaining them your situation and that you intend to take another round but are unsure given the 2 month period if it will be with them. But if they could accomodate you, you'd prefer to go with them. Who knows, maybe they will offer you a deal.

I asked them before if there might be another solution to the 2 month period but unfortunately they said they do not offer a shorter Gauntlet.

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  #317 (permalink)
Singapore
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Favorite Futures: ES, CL, NG, XAUUSD, USDJPY
 
dyst's Avatar
 
Posts: 71 since May 2015
Thanks: 34 given, 50 received


RDK91 View Post
I asked them before if there might be another solution to the 2 month period but unfortunately they said they do not offer a shorter Gauntlet.

if you cld hit the profit target fast, you cld just chill out the remaining days.... doing the minimum and explain it to them online. else you shld go for the other prop firms (there are bunch out there) which gives quick funding but of course they have their many rules too...

Numbers work... Magic lies in the numbers
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  #318 (permalink)
Chicago, IL
 
Trading Experience: Beginner
Platform: Sierra Chart
Favorite Futures: NQ, HSI, CL
 
Posts: 42 since May 2018
Thanks: 48 given, 43 received

earn2trade is actually working on 120-day and 180-day Gauntlets so it seems unlikely they would ever make exceptions to the 60-day rule. they seem to really care about seeing a long track-record, which is fair but if you're gonna make ppl invest so much time into the Gauntlet, they should also be more transparent about offers.

can you imagine spending 60 hard-working days on this thing and getting a 60% split offer? that would piss me off to no end. i could care less about 10k vs 25k balance account offer based on performance but it makes no sense to me why someone who did less well on the gauntlet should also get a smaller % split, if they're already getting a lower account balance + DD%

it's like "here, since you didn't do extremely well on the gauntlet, we're going to start you out with a lower account balance. oh but that's not all. we're going to make it even harder for you by giving you a lower DD%. oh but that's still not the end of it. we're going to make it additionally even harder for you, the low-performing trader, by taking a higher % of your profits so you only get to keep 60%."

if you're going to give someone a 10k balance with a mere 10% DD, at the very least, a 80% split should be mandatory. but there's no guarantee whatsoever when it comes to the Gauntlet so you're taking a very real gamble when you decide to invest 60 long days into this thing.

as much as i hate TST, i think in this case, you're better off going with TST than E2T. traderdock is legit but you can only use the TT platform and after demo-ing it for 30 days, i can say it is absolutely atrocious. but if you don't care about that, Traderdock is an option, although their evaluation is a bit harder if you want the 80% split.

i'd avoid OUT and Speeduptrader; they give off too many scammy vibes for my liking.

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  #319 (permalink)
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 380 since Jun 2016
Thanks: 93 given, 673 received


canoekoh View Post
earn2trade is actually working on 120-day and 180-day Gauntlets so it seems unlikely they would ever make exceptions to the 60-day rule. they seem to really care about seeing a long track-record, which is fair but if you're gonna make ppl invest so much time into the Gauntlet, they should also be more transparent about offers.

can you imagine spending 60 hard-working days on this thing and getting a 60% split offer? that would piss me off to no end. i could care less about 10k vs 25k balance account offer based on performance but it makes no sense to me why someone who did less well on the gauntlet should also get a smaller % split, if they're already getting a lower account balance + DD%

it's like "here, since you didn't do extremely well on the gauntlet, we're going to start you out with a lower account balance. oh but that's not all. we're going to make it even harder for you by giving you a lower DD%. oh but that's still not the end of it. we're going to make it additionally even harder for you, the low-performing trader, by taking a higher % of your profits so you only get to keep 60%."

if you're going to give someone a 10k balance with a mere 10% DD, at the very least, a 80% split should be mandatory. but there's no guarantee whatsoever when it comes to the Gauntlet so you're taking a very real gamble when you decide to invest 60 long days into this thing.

as much as i hate TST, i think in this case, you're better off going with TST than E2T. traderdock is legit but you can only use the TT platform and after demo-ing it for 30 days, i can say it is absolutely atrocious. but if you don't care about that, Traderdock is an option, although their evaluation is a bit harder if you want the 80% split.

i'd avoid OUT and Speeduptrader; they give off too many scammy vibes for my liking.

Can you explain why you think OneUpTrader should be avoided? I used them in the past (also received a funded account once but failed it) and everything seemed to be reasonable. Except for some of the rules which make it much harder than E2T.

Also the new thread here about OUT and MES seems transparant and honest.

https://futures.io/trading-journals/46495-my-mes-live-account-journal-oneup.html


Last edited by RDK91; April 29th, 2019 at 10:40 AM.
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  #320 (permalink)
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 380 since Jun 2016
Thanks: 93 given, 673 received



canoekoh View Post
As much as i hate TST, i think in this case, you're better off going with TST than E2T. traderdock is legit but you can only use the TT platform and after demo-ing it for 30 days, i can say it is absolutely atrocious. but if you don't care about that, Traderdock is an option, although their evaluation is a bit harder if you want the 80% split.

i'd avoid OUT and Speeduptrader; they give off too many scammy vibes for my liking.

I don't really like TST either, if we leave E2T out of this comparison i think OUT is the best option.

With TST you have to pay for both stages, so you have to reach the profit target twice and survive the draw down limit 3 times before you can make a withdrawal. You also have to pay for your own data fee up front.

Traderdock is the same, you have to pay for 2 stages but what is even worse (in my opinion), is that once you completed all stages you most likely paid $400 and in the worst case scenario you get just 1K draw down and a 60% profit split (comparable with the worst offer E2T would give)

With OneUp you only have to reach the profit target once to move on to the funded account and they pay the data fees.
This means that i could go for a $150K account with OneUp which gives me $5K draw down if i am confident that i could pass in 1 month or a 50K account if i take the more conservative route and give myself 2 months to pass.

Only major draw down with OneUp is the stupid trading draw down rule based on open equity. One of the advantages seems to be that if you hit the daily draw down the account is not closed but trading is halted until the next session to my knowledge if this happens with any of the other funding company's out there the account is terminated once the daily draw down level is hit.

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