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Earn2Trade - Orianna Foucault (Director of Support) - Ask Me Anything (AMA)
You are right on your example, the Trailing Drawdown is going to move only with your profits until it reaches the account starting balance, from there on it's not going to move even if you withdraw. If at any point on the live account your account balance reaches the Trailing Drawdown amount your account will be canceled.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Continuing with the same example for simplcity, say I recover the drawdown and am up another $3000, back to where I was before the drawdown. does earn2 trade take 20% from that gain as well, in addition to the 20% from the gain prior to the drawdown?
So they only withdraw when you withdraw? THat doesn't sound right, forgive me if I am wrong. What if I have $20,000 in gains and I haven't withdrawn? I don't think they would let $4k sit there at risk, would they?
I am confused regarding the status of this company. I like their structure as it relates to tax treatment.
However I am concerned regarding the fraud allegations of the founder. Also it seams that their funding partner (Helios) is no longer and a new partner dose not exist . . .
Perhaps I have misinterpreted what has been written in this thread. Can someone please enlighten me ?
Is there anyone who is currently funded with them who can provide their perspective.
from what has been stated on this thread and on their website, they are allowing anyone who passes the gauntlet to trade in a sim account until the new partner is up and running. I agree with you about the structure, which is why I opted for this one over others. I am already in the mini at a nice discount so don't want to jump ship now, but honestly did not realize what I was getting in to with the lack of a funding partner at the time, so I do have some concerns now. I will ceratinly share my experieinces if I pass.
Assuming it works as it used to months ago, I asked them and it was either 20% when you withdraw or they take it once a month at month end on anything you have made but not yet withdrawn. But never 20% twice. So if you had $20K in gains you'd get your 20% taken out at the month end, leaving you $16K. Assuming you did nothing else but withdrew that the following month, you'd get the full $16K since you already paid 20% on it.
