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Earn2Trade use the full margin because unlike the competitor day trading only firms, they allow traders to hold positions overnight so that is the necessary margin amount required. This is mentioned on their site and in the webinar they did for futures.io:
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
Our November Journal Challenge is about to begin, and is sponsored by Earn2Trade. One of the prizes is a free 60-day Gauntlet, which can be used towards earning a fully-funded trading account.
Continuing in the tradition of encouraging journals on FIO, I am announcing a new Journal Challenge for November 2018.
The rules are extremely simple:
a) The contest begins November 1 and ends November 30. All decisions made by futures …
My goal with these events is to encourage journaling. It is my absolute belief that the more you journal, the more you improve your trading. I hope to see you participate!
It was determined through discussion in another thread on this forum that there was a bug in Rithmic resulting in a double margin requirement when a NinjaTrader ATM was used connected to Rithmic. Once Rithmic resolves this bug, NinjaTrader will only require 1X margin.
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
No they have not. For clarification, this bug only impacts Rithmic installations that use SMAC risk settings. NinjaTrader Brokerage does not use these settings and thus is not impacted by this bug. Rithmic at NinjaTrader Brokerage only uses 1X margin.
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
I'm posting this as I have been asked about my eventual success with the Gauntlet as I was a big supporter when the Gauntlet first came out. When I founded this post few had heard of them and there was a lot of misinformation about the company. After calling them I felt they were a big improvement over TopStep and OneUp, and I still believe that.
I have yet to attempt the Gauntlet, because at the time it wasn't possible for me to do so and now it looks like, sadly, I never will for the original rules have changed. I expect success bred the changes or maybe it was wisdom, I don't know, but if my memory serves correctly originally the sim drawdown was subjective (up to 30% as defined by the trader's experience and style), and the capital allocation was $50k. It was exciting to see an entry trader program that made sense for those aspiring to a real hedgefund-style allocation. However now the capital allocation has dropped to $25k and the drawdown is a meager 10%. It's so tight that now most sustainable traders likely to be accepted are day traders and weekly swingers.
Not that there is anything wrong with that, I still think Helios is an opportunity, but the new rules don't fit my style like the old rules and to try to shoehorn my style into the new rules is not worth the time or the grief. I would suggest who are like me try Collective2.
I wish them, and every Gauntlet trader, a prosperous New Year.
