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

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  #561 (permalink)
Flash Gordon
Burlington, North, Carolina/USA
 
 
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Howard Roark View Post
Specifically, what I mean is that if I grow my account to 25K and withdraw 20K or even 25K. Am I back to step one having to trade 1 contract or will I have backing? Will there be funds in the account? It's said to be a 150K account, but I imagine I'm not actually having 150K in the account.

The point I'm trying to make (or understand if is true) is if it makes sense for the trader to continue trading after a certain amount of profits are made or if it's better to withdraw all the money and fund his own account instead. Because if no funding is actually provided other than the cushion the trader makes himself he's essentially always risking his own money.



Could you elaborate on this?

Personally, I'm on the 150K account, so that's the maximum offered. Are there other options? I think I was also told in chat with customer service that I can never trade more than 15 contracts.

Thank you.

Yes, you must keep enough cushion in the account to trade the full clip. Yes, you are trading with your own profits. Yes, If you draw your 150k account down to say $152k, you are only 2k away from loosing your account. If you stay with E2T or go on to trading in your own private account is a personal choice each trader has to make. As of this date E2T allows multiple accounts (see website). They are only one of two company’s that I know that after passing will put you trading “real live and funded” to the actual exchanges (not sim).

They used to advertise account review/trade larger, but Now you are allowed to trade multiple accounts at the same time. Not advertised, because so few traders can really trade long term ... lol, is if you sustain profitability long term, they will consider on a case by case bumping up your max clip. Unlike others, your gain is their gain.

If your new, you may not recognize it, but the scaling table is one of your best friends. You can make a good living never trading more than 4-6 contracts. I suggest the larger accounts NOT for the contracts allowed, but rather for the spread allowed before failing. You can easily pass the E2T 150K g-mini with just 4 contracts.

In a funded account you won’t and would not be allowed to do the stupid things you would most likely do in a private account, like the other day I watched a kid who’s been streaming live for four years and supports his family by trading, “freeze-up” and loose over $25K, when he usually makes or loses on a daily basis $500 to $1000. It was painful to watch !!!

Had he been trading in his funded account (which he also has) yes, he might have lost his account after loosing about $3300, but he would still have had the profit in his account sent to him, (Including The $$22,000 He Would Have Saved) as the prop firm would have shut him down

If your a proven profit maker go for it. But if your not, if you can’t pass the Guantlet-Mini, then you’ll also never make it trading on you own.

-best trading to all
Thanks,
FG

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  #562 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 354 since Aug 2018
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Flash Gordon View Post
Yes, you must keep enough cushion in the account to trade the full clip. Yes, you are trading with your own profits. Yes, If you draw your 150k account down to say $152k, you are only 2k away from loosing your account. If you stay with E2T or go on to trading in your own private account is a personal choice each trader has to make. As of this date E2T allows multiple accounts (see website). They are only one of two company’s that I know that after passing will put you trading “real live and funded” to the actual exchanges (not sim).

Correct. And this is very important, IMO.

As for multiple accounts - I was under the impression that they offer multiple accounts for the try-out, but only one account as a funded trader?


Quoting 
You can easily pass the E2T 150K g-mini with just 4 contracts.

Fully agree. Low leverage on the higher account size is the way to go if you want to have a chance.


Quoting 
But if your not, if you can’t pass the Guantlet-Mini, then you’ll also never make it trading on you own.

Agreed.

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  #563 (permalink)
Flash Gordon
Burlington, North, Carolina/USA
 
 
Posts: 16 since May 2019
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Howard Roark View Post
Correct. And this is very important, IMO.

As for multiple accounts - I was under the impression that they offer multiple accounts for the try-out, but only one account as a funded trader?



Fully agree. Low leverage on the higher account size is the way to go if you want to have a chance.



Agreed.

Q: As for multiple accounts - I was under the impression that they offer multiple accounts for the try-out, but only one account as a funded trader?

A: Earn2Trade now allows multiple to the market accounts. Just use a different email for each one, an they by magic will place them all under a single login.. Good Luck

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  #564 (permalink)
 Daytrader999 
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Flash Gordon View Post
Q: As for multiple accounts - I was under the impression that they offer multiple accounts for the try-out, but only one account as a funded trader?

A: Earn2Trade now allows multiple to the market accounts. Just use a different email for each one, an they by magic will place them all under a single login.. Good Luck

Correct, but if you're already funded you can start a 2nd evaluation (and eventually get a 2nd funded account) with the same Email address.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #565 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 354 since Aug 2018
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Flash Gordon View Post
Q: As for multiple accounts - I was under the impression that they offer multiple accounts for the try-out, but only one account as a funded trader?

A: Earn2Trade now allows multiple to the market accounts. Just use a different email for each one, an they by magic will place them all under a single login.. Good Luck

Thank you.

I don't think I'll be doing any programs with E2T in 2022, but that's good to know. It seems like it's the best get-funded program currently, but I think I'm better off trading my own money.

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  #566 (permalink)
 chipps1983 
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Question about scaling and Maintaining Consistency.

This is something I don't get and may need to put a thought to it. Just a thought.

Everyday markets are not doing the same thing, how can a trader do the same trading?

If Trending, A trader would like to use more lots and may even hit the targets (Outperform) on these days. on Sideways markets, A trader can limit the scaling and may use very minimum profit targets.

How this will maintain consistency? I understand the trader has 15 trading days.

--------
Chipps
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  #567 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 354 since Aug 2018
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chipps1983 View Post
Question about scaling and Maintaining Consistency.

This is something I don't get and may need to put a thought to it. Just a thought.

Everyday markets are not doing the same thing, how can a trader do the same trading?

If Trending, A trader would like to use more lots and may even hit the targets (Outperform) on these days. on Sideways markets, A trader can limit the scaling and may use very minimum profit targets.

How this will maintain consistency? I understand the trader has 15 trading days.

I think the purpose of this rule is to weed out traders who simply got lucky on one single day and make sure there's some consistency in your results.

If not, you could in theory luck out on Day 1 or any other day and do nothing for the rest of the program.

It may seem like a silly rule, but I understand the reason behind it.

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chipps1983 View Post
Question about scaling and Maintaining Consistency.

This is something I don't get and may need to put a thought to it. Just a thought.

Everyday markets are not doing the same thing, how can a trader do the same trading?

If Trending, A trader would like to use more lots and may even hit the targets (Outperform) on these days. on Sideways markets, A trader can limit the scaling and may use very minimum profit targets.

How this will maintain consistency? I understand the trader has 15 trading days.

Hello chipps1983,

The Consistency Rule does not ask traders to do the same every day. It is meant to filter out people who take huge risks to make the profits in a single day and coast with quick 1 tick trades for the rest of the evaluation period. Those traders tend to go all in on day one on live accounts as well.

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