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Earn2Trade - Ryan Masten (Founder) - Ask Me Anything (AMA)


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Earn2Trade - Ryan Masten (Founder) - Ask Me Anything (AMA)

  #151 (permalink)
Australia, NSW
 
Experience: Intermediate
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Cheers Ryan

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  #152 (permalink)
Site Administrator
Manta, Ecuador
 
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Hey guys,

@Earn2Trade recently released their new Gauntlet Mini and I received an email with a few details, so I wanted to share it here for those interested in this new program:










Direct link with the coupon code attached:
https://www.earn2trade.com/gauntlet-mini?discount=gmini25bt

If you have questions about this new service, please direct to @Earn2Trade on their AMA page:


Mike

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  #153 (permalink)
burlington, vt
 
Experience: Advanced
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Good morning Ryan,

I'm considering splitting my capital into a prop environment and just have a few questions on some unclear things.

1. I noticed some people in the thread have had some issues regarding equity and OCO orders, where the OCO orders were being counted towards used equity. Is this still an issue? I use Sierrachart.

2. I'm currently not used to paying Pro prices for data costs, and would be eating $400+/month if joining your firm. But unclear with this line from your website: "If you already have a data feed and simply want to execute on the Helios feed, you do not need to subscribe to the Helios Rithmic data feed for charting and will not incur any costs." Does this mean I could use my own data provider and not be subject to the $400/month pro rates?

3. Are stops held server-side in both the gauntlet and live environment? using sierrachart. Just confirming in case of computer outages.

Regarding the normal Gauntlet
A. It's a bit worrying seeing in the forums offers of only $1k-$1.5k drawdown for live accounts, in relation to fee/time spent. Will 4:1 profit:risk still be considered for better live drawdown rates at the end of 60 days, as previously mentioned? I'm thinking personally, as I can easily lower my size and stay within the 4-7% range until a buffer is made, but achieving 2% dd at that account size in unrealistic for anyone trading larger moves, even on 1 contract.

B. I trade multiple products. If trading multiple products during your evaluation, successfully, are those products typically offered after passing? Or do you limit what symbols are tradable to your newly passed users?

Regarding the Gauntlet Mini
A. The trailing drawdown explanation isn't too clear, in both the sim and live environment. I'm a little concerned that trailing drawdown will follow the equity highs rather than closed trade equity. Can you confirm the specifics of this?

B. You state positions must be closed by the session close. Can we reopen/trade the Globex session? Or is anything non-RTH/pit hours forbidden?

C. After passing your $100k-$150k nominal mini gauntlet, will the initial drawdown of the live account be the same rates of the mini gauntlet just passed? I ask this because my style of trading wouldn't be suited for the low end dd offers.


That's all I can think of! everything else seems pretty self explanatory.

Thanks for your time,
Have a good weekend

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  #154 (permalink)
Austin, TX
 
Experience: Advanced
Platform: Finamark, Sierra Chart
Trading: ES, CL, GC, NQ
 
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karentrader View Post
Good morning Ryan,

I'm considering splitting my capital into a prop environment and just have a few questions on some unclear things.

1. I noticed some people in the thread have had some issues regarding equity and OCO orders, where the OCO orders were being counted towards used equity. Is this still an issue? I use Sierrachart.

2. I'm currently not used to paying Pro prices for data costs, and would be eating $400+/month if joining your firm. But unclear with this line from your website: "If you already have a data feed and simply want to execute on the Helios feed, you do not need to subscribe to the Helios Rithmic data feed for charting and will not incur any costs." Does this mean I could use my own data provider and not be subject to the $400/month pro rates?

3. Are stops held server-side in both the gauntlet and live environment? using sierrachart. Just confirming in case of computer outages.

Regarding the normal Gauntlet
A. It's a bit worrying seeing in the forums offers of only $1k-$1.5k drawdown for live accounts, in relation to fee/time spent. Will 4:1 profit:risk still be considered for better live drawdown rates at the end of 60 days, as previously mentioned? I'm thinking personally, as I can easily lower my size and stay within the 4-7% range until a buffer is made, but achieving 2% dd at that account size in unrealistic for anyone trading larger moves, even on 1 contract.

B. I trade multiple products. If trading multiple products during your evaluation, successfully, are those products typically offered after passing? Or do you limit what symbols are tradable to your newly passed users?

Regarding the Gauntlet Mini
A. The trailing drawdown explanation isn't too clear, in both the sim and live environment. I'm a little concerned that trailing drawdown will follow the equity highs rather than closed trade equity. Can you confirm the specifics of this?

B. You state positions must be closed by the session close. Can we reopen/trade the Globex session? Or is anything non-RTH/pit hours forbidden?

C. After passing your $100k-$150k nominal mini gauntlet, will the initial drawdown of the live account be the same rates of the mini gauntlet just passed? I ask this because my style of trading wouldn't be suited for the low end dd offers.


That's all I can think of! everything else seems pretty self explanatory.

Thanks for your time,
Have a good weekend

Hello!

1) No, assuming you mean oco's that are targets and stops, Rithmic has resolved this.
2) You can, yes. You'd still need to place the trades on the provided Rithmic connection, but you can do your market data on your own. The downside to this i that you can't trade off your charts and wouldn't have real-time PNL with your trades (since the CME considers real-time PNL as market data).
3) Sort of, this is a sierra thing not a Rithmic thing: https://www.sierrachart.com/index.php?page=doc/Rithmic.php

Gauntlet™
[/B]A) No, things were set in stone and clarified to remove any questions. The offers are displayed on the site and those are what are received. I can tell you that the a good majority of people who pass have <2% drawdown.
B) If you traded them during the Gauntlet and were profitable, you'll be able to trade them on the live.

Gauntlet Mini™
B) Yes you can trade globex, all the times are clarified here: https://www.earn2trade.com/gauntlet-mini?approved-times
C) Yes it is, the parameters match the Gauntlet™ passed

Hope that helps!

Ryan Masten
Earn2Trade | Founder
www.earn2trade.com
1-888-502-2260
Become a Professional Trader. Decisions That Can Change Your Life Forever.
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  #155 (permalink)
burlington, vt
 
Experience: Advanced
Platform: Sierra
Trading: NQ
 
Posts: 197 since Aug 2015
Thanks: 82 given, 390 received

Thanks for the straight-forward answers, Ryan. Helped clear up almost everything!

Just to clarify on the data question, so there is a rithmic DOM or something when placing orders outside my secondary data feed? couldn't find any visual examples in google

Also, would you mind answering about the trailing drawdown specifics for the mini gauntlet? I would like to know if equity highs move the drawdown trail up or not, or will it be based on closed equity? (minus hitting the limit in real-time, of course)

Thank you

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  #156 (permalink)
Raleigh, NC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 24 since Sep 2010
Thanks: 8 given, 17 received

@Earn2Trade I just confirmed with Jonathan at E2T and it seems that Ninjatrader is now allowed in the Gauntlet Mini and standard Gauntlet as well as with Helios when funded. What changed Ninjas mind regarding this?

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  #157 (permalink)
Austin, TX
 
Experience: Advanced
Platform: Finamark, Sierra Chart
Trading: ES, CL, GC, NQ
 
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Posts: 119 since Jul 2018
Thanks: 2 given, 187 received


jeffalan View Post
@Earn2Trade I just confirmed with Jonathan at E2T and it seems that Ninjatrader is now allowed in the Gauntlet Mini and standard Gauntlet as well as with Helios when funded. What changed Ninjas mind regarding this?

Sent using the futures.io mobile app

NT didn't change their mind. You still need a valid license as mentioned in our FAQ (2014 or better) that allows for external Rithmic orders. Then you have to use the Rithmic Leader/Follower system, so you're actually trading into a paper account and then the orders get copied to the Helios account assigned to you.

Ryan Masten
Earn2Trade | Founder
www.earn2trade.com
1-888-502-2260
Become a Professional Trader. Decisions That Can Change Your Life Forever.
Follow me on Twitter Visit my Facebook Reply With Quote
 
  #158 (permalink)
Raleigh, NC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 24 since Sep 2010
Thanks: 8 given, 17 received


Earn2Trade View Post
NT didn't change their mind. You still need a valid license as mentioned in our FAQ (2014 or better) that allows for external Rithmic orders. Then you have to use the Rithmic Leader/Follower system, so you're actually trading into a paper account and then the orders get copied to the Helios account assigned to you.

I See..I must have misunderstood your email yesterday when it mentioned Ninjatrader. Dissapointing!

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  #159 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 48,773 since Jun 2009
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Some changes from Earn2Trade:


Quoting 
Dear Traders,

We’d like to start off by thanking all of you for helping make the launch of The Gauntlet Mini™
last month an immense success. We’re especially grateful to everyone who signed up and gave
us their feedback on it so we can continue improving it as we go. Going forward we’ll be making
the following trader oriented changes to The Gauntlet Mini™.

We’re removing LiveSim, traders will go directly to Helios after passing the evaluation.
Traders previously had to go through a Live Simulator phase which was a paper trading account
with the same terms and conditions as your offer, including the ability to request withdrawals
immediately. It wasn’t a second evaluation, but rather a risk management procedure for the
prop. firm. Helios decided to allow traders to skip this process for The Gauntlet Mini™ because
its rules are stricter than the original Gauntlet™ so less risk management is necessary. The way
you benefit from it is being able to request performance reviews for additional funding or
trade-able assets from them sooner.

We’re removing the daily loss limit for live accounts after the trader reaches profitability.
After getting funded you will no longer be subject to a daily loss limit once you make enough
profit for your loss limit to reach your starting balance. As an example, if you start your live
account at $25,000 and grow your balance over $25,550 your daily loss limit will be removed.

We’re raising the maximum position size and the progression ladder for micro contracts
times ten.

You will be able to trade up to ten contracts of all respective micros and it'll only count as one
contract towards the progression ladder and maximum number of positions. For example if the
progression ladder allows you 2 contracts then you can either trade up to 2 ES, 1 ES & 10 MES
or 20 MES. This change will go live after 5:00 p.m. Central Time October 1st, 2019.

Traders will no longer need to pay Helios for their data fees after getting funded if they
already have their own data feed.

If you already have your own paid data feed you can continue using it for charting after getting
funded without having to pay Helios the additional monthly $105 per exchange, however, you
will still need to execute trades through the feed they provide.

Traders will be able to keep using NinjaTrader after getting funded regardless of license
type.

Previously you were only able to keep using NinjaTrader after getting funded if you had a
license grandfathered into trading with 3rd party brokerages. Helios has now added a
Leader-Follower service that will allow you to copy your trades from NT to Helios through a
paper trading account. This means you're not interacting directly with the live market so there
could be a small delay and you may not get the same fill. Traders who choose this option are
responsible for monitoring their Helios account, since their loss limits are based on the Helios
account, not the paper trading account. There's also an additional $25 ($50 if your user is more
than 6 months old) data fee to maintain the paper trading account.

We hope that these changes will enhance your Gauntlet Mini™ experience and make
completing it even more rewarding. Please look forward to more future developments.As
always our support staff is happy to answer any related questions. We welcome any
feedback and appreciate your continued support, thank you.
========================================================================

PDF attached.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

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The following user says Thank You to Big Mike for this post:
 
  #160 (permalink)
Austin, TX
 
Experience: Advanced
Platform: Finamark, Sierra Chart
Trading: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 119 since Jul 2018
Thanks: 2 given, 187 received



jeffalan View Post
I See..I must have misunderstood your email yesterday when it mentioned Ninjatrader. Dissapointing!Attachment 276694

Sent using the futures.io mobile app

Yes there were more details on the link.
It's the only work around possible with NT still standing their ground. It's not the ideal solution, we agree, but it's still an option.

Ryan Masten
Earn2Trade | Founder
www.earn2trade.com
1-888-502-2260
Become a Professional Trader. Decisions That Can Change Your Life Forever.
Follow me on Twitter Visit my Facebook Reply With Quote



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