Yes you sure can! MotiveWave supports Rithmic.
You can also use MW/NT8 in the same Gauntlet, assuming you have a license for NT8 that supports Rithmic (typically paid licenses are required by NT since the Gauntlet is not at their brokerage).
Regarding a sample of a trader describing their style, not really. Reason being that we keep all of that confidential. That said, really anything is acceptable you want to disclose. The more the better and if you adhere to it, the better the offer. We have traders that post very little and traders that send us very detail (pages) of information. The idea is just so that when the prop firm reviews your results in accordance with what you described, how well did you stick to your description and rules you set for yourself.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Hi @Earn2Trade, Ryan, a few questions on Forex for you:
What is the spread/commission structure? Is everything spread based, or is there a discounted spread plus commission? Is this consistent in both the Gauntlet and Funding stages?
I understand that spreads will increase/decrease based on liquidity conditions but do you have any data on average spreads? I am specifically interested in spreads for EURUSD, GBPUSD, USDJPY, & USDCAD.
How does position sizing work? I'm currently with Oanda and can trade any trade size (within margin requirements of course). Does this also apply to the Gauntlet/Funding, or do specific lot sizes have to be used?
Hi there! OANDA is the RFED (broker) for both the Gauntlet and live accounts. Everything is spread based. Helios has a premium OANDA account so the spreads offered are the premium OANDA spreads. No commissions.
No specific lot sizes have to be used, you can use whatever your margin allows.
Hope that helps!
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
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In cooperation with Helios Trading Partners, we have a couple of announcements to make regarding Earn2Trade’s, The Gauntlet trader evaluation program, and Helios Trading Partner’s, Partnership Trading Program. We’ve had an amazing year since taking The Gauntlet live in February, with many traders successfully going through the evaluation and receiving funding from our proprietary trading associates, Helios Trading Partners. We’re proud of what we’ve accomplished to date and look forward to providing more opportunities to traders in the future.
We’ve strived to make The Gauntlet trader evaluation program the final step in education before traders go on to handle live funds. Our goal is to see more traders passing The Gauntlet and have a wide number of proprietary trading firms that accept The Gauntlet as a standard certification for recruitment purposes. We look forward to refining and improving our program as much as possible in order to achieve those ends.
Upon concluding detailed examinations into the successful trading habits of The Gauntlet candidates, we will be making some adjustments to the evaluation program, as well as providing a more detailed review procedure for those traders who receive funding and become limited shareholders of Helios Trading Partners. Therefore, on October 17th, 2018 the following new criteria will become effective.
The Gauntlet Trader Evaluation Program Updates
We want to stress that any candidates currently enrolled in The Gauntlet trader evaluation program will be able to complete their evaluation according to those rules which they signed up for. These updates will only affect candidates who sign up on October 17th or after.
1) Discontinuing the Forex Variant of The Gauntlet
We’ve done our utmost to provide the most realistic Forex experience possible to our customers. This means providing access only to the largest US brokers that offer the maximum legal trading leverage. We’ve been overwhelmed with requests for access to proprietary trading firms that will use offshore brokerages that can offer more leverage to customers. We fully understand that there can be financial advantages to dealing with offshore brokerages, but we are not interested in pursuing a business direction that would be contrary to any legal or regulatory restrictions. Furthermore, our proprietary trading associates, Helios Trading Partners have realigned their attention to focus primarily on Futures. While Currency Futures are still an option to be traded, the Forex variant of The Gauntlet™ will be discontinued for the time being.
2) Instituting a 10% Maximum Drawdown on The Gauntlet™
Many traders have dropped well below a 1:1 profit to drawdown ratio, and it’s here where we’ve identified the most glaring issue. We have found that the majority of traders who pass a 10% drawdown do not end up recovering their losses. The few that do, recoup them by placing larger trades and taking increased risks which are not the kind of responsible trading habits that Helios wants to see or encourage. In order to pass The Gauntlet™, candidates must now keep their drawdown under 10% ($2,500).
3) 60 Calendar Day Evaluation Period with Mandatory 30 Trading Days and Minimum One Unique Trade Per Week
While this has not been an issue for most of our Intraday candidates, many of our Overnight candidates have been trading at a very limited, if negligible pace. In particular, we’ve had many cases of traders opening and closing the same position week after week, effectively holding the same position over an entire 60 days. While we don’t frown upon this trading style in theory, in practice it doesn’t provide our proprietary trading associates with enough information to effectively evaluate the candidate over the 60 day period.
Helios Trading Partners, Partnership Trading Program Updates
In addition to amendments to The Gauntlet™ trader evaluation program, Helios Trading Partners will also be making the following updates and clarifications to its Partnership Trading Program.
1) Detailed Account Review Every 30 Days
Helios Trading Partners has committed to providing trader reviews every 30 days to its limited partners. Each review offers an opportunity to adjust the terms of the agreement based on the trading habits of its partners.
2) Clarifications Regarding Data, Exchange and Brokerage Fees
The trader does not have to pay any out of pocket expenses for any fees related to trading. All trading fees are deducted directly from the trader’s account balance, and therefore require no additional cost to the trader.
3) Clarifications Regarding Starting Offers
Many candidates have requested clarifications regarding the initial offer by Helios Trading Partners upon successful completion of The Gauntlet™. Helios Trading Partners reserves the right to provide customized offers to its potential traders, and bases its offers entirely on the performance of the candidate throughout The Gauntlet™. Customized offers can include asset, exchange, drawdown, stylistic and/or other limitations.
In addition, the minimum offered starting capital is $10,000.00, and the maximum offered starting capital is $25,000.00. The minimum drawdown offered is 10% and the maximum drawdown is 25%. While Helios Trading Partners examines all aspects of the report produced by The Gauntlet™ trader evaluation program, in order to achieve higher starting capital and drawdown, the candidate should exhibit a consistent trading style that reflects the trading plan submitted at the start of his/her evaluation program. In addition, the profit to drawdown ratio should be stronger than 1:1 and reach more standard industry targets of 1.5:1 or better.
In other developments, The Gauntlet™ dashboard should finish its integration with a new Rithmic API in the next 30-60 days, which will permit all trading statistics to become available in The Gauntlet™ dashboard. We’re very excited about this feature which will enable traders to simply check the dashboard for all of their up to date trading statistics.
We look forward to serving you and helping you on your journey to becoming a professional trader.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
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