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My Gauntlet journal


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My Gauntlet journal

  #241 (permalink)
 Yukoner 
Vancouver Island, Canada
 
Experience: Advanced
Platform: T4, IB, TD Ameritrade
Broker: Stage5
Trading: ES CL RTY Stocks
Posts: 58 since Nov 2013
Thanks Given: 163
Thanks Received: 130

Wow! That is great @RDK91 ... excellent offer from them, and in my opinion well deserved.

Nice to see E2T step it up for those traders who are showing great potential. Classy, imo.

Wishing you the best through your health challenges... I’ve had to trade before while in the hospital (during 2008), and it never ends well.


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  #242 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


Yukoner View Post
Wow! That is great @RDK91 ... excellent offer from them, and in my opinion well deserved.

Nice to see E2T step it up for those traders who are showing great potential. Classy, imo.

Wishing you the best through your health challenges... I’ve had to trade before while in the hospital (during 2008), and it never ends well.


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Thanks, hopefully i am able to negotiate a larger account and larger DD once i show consistency in the funded account as well.

Luckily for me it isn't that serious here, just annoying.
I am happy it is happening now and not when i just started my live account

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  #243 (permalink)
 MsFutures 
Manchester, NH
 
Experience: Advanced
Platform: Tradestation
Trading: NQ
Posts: 25 since Mar 2013
Thanks Given: 153
Thanks Received: 28


Beautiful stats chart! Congrats and also thank you for running this journal -- I think I got good information regarding E2T from your journal where you and others discussed their rules. Your argument in favor of E2T over TST was quite convincing and in fact I started a Gauntlet for the first time (after dumping a lot of money with TST) just over a week ago and so far so good. You provided a good example as to how stats should look like for someone who wants to aim the best offer. I wish you the greatest success down the road with Helios.


MsFutures

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  #244 (permalink)
 
srgtroy's Avatar
 srgtroy 
Los Angeles, California Republic
Legendary  R.I.P. 1965-2023 
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 1,928 since Jan 2011
Thanks Given: 1,375
Thanks Received: 3,722

Nicely done, sir!

The Live Sim is an interesting twist. Does that mean the first $5,000 is considered regular contractor income like TST, and then once you are with Helios whatever you make is then partnership income taxed at 40/60?

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  #245 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


srgtroy View Post
Nicely done, sir!

The Live Sim is an interesting twist. Does that mean the first $5,000 is considered regular contractor income like TST, and then once you are with Helios whatever you make is then partnership income taxed at 40/60?

I believe so, yes.

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  #246 (permalink)
canoekoh
Chicago, IL
 
Posts: 70 since May 2018
Thanks Given: 56
Thanks Received: 98


RDK91 View Post
I believe so, yes.

but for non-US-resident aliens like yourself (and me), it makes no difference whether it's taxed as contractor vs 60/40 right?

for non-resident aliens like us, we just submit a W8-BEN which means w/e futures profits we receive from Earn2Trade, TST, OUT, etc. aren't taxed by the US. they're taxed at w/e rate our own country taxes for foreign income.

so that's why it would make no difference for you whether you start LIVE right away or start with LIVE SIM first?

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  #247 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


canoekoh View Post
but for non-US-resident aliens like yourself (and me), it makes no difference whether it's taxed as contractor vs 60/40 right?

for non-resident aliens like us, we just submit a W8-BEN which means w/e futures profits we receive from Earn2Trade, TST, OUT, etc. aren't taxed by the US. they're taxed at w/e rate our own country taxes for foreign income.

so that's why it would make no difference for you whether you start LIVE right away or start with LIVE SIM first?

There is a reason for me for why i would prefer to get the first 5K with E2T instead of with Helios.
I can't really go in to much detail, however if Ryan is unable to find a solution i will probably just start with Helios and skip the live sim.

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  #248 (permalink)
canoekoh
Chicago, IL
 
Posts: 70 since May 2018
Thanks Given: 56
Thanks Received: 98


RDK91 View Post
There is a reason for me for why i would prefer to get the first 5K with E2T instead of with Helios.
I can't really go in to much detail, however if Ryan is unable to find a solution i will probably just start with Helios and skip the live sim.

ok thanks for the clarification.

i just wanted to check if my knowledge of taxes for non-resident aliens was incorrect.

it should be the case that for non-resident aliens, there's no benefit to the K1 60/40 structure that Helios offers right?

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  #249 (permalink)
 RDK91 
Antwerp
 
Posts: 455 since Jun 2016


canoekoh View Post
ok thanks for the clarification.

i just wanted to check if my knowledge of taxes for non-resident aliens was incorrect.

it should be the case that for non-resident aliens, there's no benefit to the K1 60/40 structure that Helios offers right?

Correct.
The way a non-resident alien is taxed is all based on the kind of tax treaty that exists between their country and the USA.

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  #250 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532



RDK91 View Post
I have been in contact with E2T and since my performance was so good they offered me to skip the live sim and go straight to the live account with Helios.

Nicely done. I assume that means they have offered you the full 80% profit split? (Looking at their website it seems an offer has a potential range of 60 - 80%, if I understood it correctly).

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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