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

  #11 (permalink)
Sienna
Melbourne, Australia
 
Futures Experience: Beginner
Platform: Ninja Trader
Broker/Data: Ninjatrader Brokerage
Favorite Futures: Many
 
Posts: 68 since May 2012
Thanks: 46 given, 21 received

@ Ryan

Hi Ryan,

Re: your 60 day trial:

For trading FX,
1 Can I trade using Ninjatrader / FXCM (which is available to me as a mon-US trader)
2 What Margin is possible? Are the Margin rules the same as designated by FXCM?
3 Can I use Ninja with with my own indicators?
4. Can I use another known Forex broker, registered with Australian and/or UK authorities?

For Futures:
Can I use Ninja with with my own indicators and linked to Dorman?

Should I be granted funds to trade, post-60 days, must I use a specific broker or platform?
If yes, what are the RTurn fees for Spot FX?
If no, can I assume that the current RTurn fees apply as set by my preferred broker?

thank you
Sienna

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  #12 (permalink)
 Vendor: www.earn2trade.com 
Austin, TX
 
Futures Experience: Advanced
Platform: Finamark, Sierra Chart
Favorite Futures: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 39 since Jul 2018
Thanks: 1 given, 68 received


dyst View Post
@Earn2Trade

Big question here. What if we use various time frames in our trading styles? Will we get marked down?

For example, I may usually daytrade CL (Crude Oil) but when I see it hit some longer term support/resistance I may decide to hold it for a swing trade... So instead of the usual 20-40 ticks profit from daytrade, you may suddenly see 0 ticks for the days held for the swing trade, and then suddenly a few hundred tick profit (hopefully or maybe 100++ tick loss).

Does that count as inconsistency? Or it does not matter much as long as these are described as a possibility in the plan? Thanks!

@dyst, absolutely! Thatís fine. Just explain your normal frequencies when you describe your style. Itís very flexible! The main thing is that if you say you only take one trade a day and then all of a sudden lose a trade and try and make it back by over trading the rest of the day and you make the situation worse, they may want to talk to you about that. Even more so if they saw it happen multiple times. Or being a scalper who all of a sudden held a losing trade for days. None of these inconsistencies will make you fail but it may reduce your offer.

I 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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  #13 (permalink)
 Vendor: www.earn2trade.com 
Austin, TX
 
Futures Experience: Advanced
Platform: Finamark, Sierra Chart
Favorite Futures: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 39 since Jul 2018
Thanks: 1 given, 68 received



sienna View Post
Hi Ryan,

Re: your 60 day trial:

For trading FX,
1 Can I trade using Ninjatrader / FXCM (which is available to me as a mon-US trader)
2 What Margin is possible? Are the Margin rules the same as designated by FXCM?
3 Can I use Ninja with with my own indicators?
4. Can I use another known Forex broker, registered with Australian and/or UK authorities?

For Futures:
Can I use Ninja with with my own indicators and linked to Dorman?

Should I be granted funds to trade, post-60 days, must I use a specific broker or platform?
If yes, what are the RTurn fees for Spot FX?
If no, can I assume that the current RTurn fees apply as set by my preferred broker?

thank you
Sienna

@sienna, thanks for the questions!

Unfortunately you have to use the broker that the prop firm uses. It’s their account structure you would be under since you would actually be under their firm ownership.

The broker for FX is OANDA. The broker for Futures is INTL FCStone, which is one of the bigger ones. The margin is the max allowed by US regulation, 50:1.

Regarding NT, you can currently use it during the 60 day test only if you have a paid license. We are working with NT to get a free key permissioned for our environment while they do their test. That should hopefully be set up in the next week.

You can absolutely use your own indicators but for FX, OANDA is only available via NT8.

Let me know if you have more questions!

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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The following 2 users say Thank You to Earn2Trade for this post:
 
  #14 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 429 since Apr 2015
Thanks: 1,044 given, 547 received


Earn2Trade View Post
OANDA is only available via NT8.

That's a surprise, because Oanda's own "advanced charting package" is a white-label version of TradingView - wondering why that isn't available?

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  #15 (permalink)
 Vendor: www.earn2trade.com 
Austin, TX
 
Futures Experience: Advanced
Platform: Finamark, Sierra Chart
Favorite Futures: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 39 since Jul 2018
Thanks: 1 given, 68 received


Tymbeline View Post
That's a surprise, because Oanda's own "advanced charting package" is a white-label version of TradingView - wondering why that isn't available?

Let me clarify, in regards to NinjaTrader usage (which the post was asking about), NinjaTrader does not support OANDA on NT7 thus NT8 must be used.

OANDA is available on any platform which supports their v20 REST API or via MT4. Unfortunately fxTrade and their web platform are unavailable due to the account permissions that OANDA allows for. OANDA does not allow for multiple users to login to their own platforms and have access only to a certain sub-account and not the entire account structure. Due to the fact that the live account is owned by the prop firm and not the individual, the individual can only have access to their specific sub-account.

I hope that clarifies things!

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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  #16 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,784 since Jun 2009
Thanks: 29,835 given, 86,172 received

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Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #17 (permalink)
Elite Member
nashville, tn
 
Futures Experience: Intermediate
Platform: Ninja 8
Favorite Futures: es
 
Posts: 67 since Nov 2012
Thanks: 55 given, 8 received

Ninja Trader 8

So maybe I am confused here, can I use NinjaTrader 8, as that is my current platform?

As far as taxes go, is this taxed as ordinary income, short term capital gains, or the preferred futures tax rate?

thanks

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  #18 (permalink)
 Vendor: www.earn2trade.com 
Austin, TX
 
Futures Experience: Advanced
Platform: Finamark, Sierra Chart
Favorite Futures: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 39 since Jul 2018
Thanks: 1 given, 68 received


cshrum View Post
So maybe I am confused here, can I use NinjaTrader 8, as that is my current platform?

As far as taxes go, is this taxed as ordinary income, short term capital gains, or the preferred futures tax rate?

thanks

So sorry for the delayed response. Never got a notice of this post.
To answer your questions:

1) Yes you can use NT8 as long as you have a paid license and it supports Rithmic.
2) The income for futures would be passed through as short/long term capital gains, which is how futures are taxed.

Ryan Masten
Earn2Trade | Founder
www.earn2trade.com
1-888-502-2260
Become a Professional Trader. Decisions That Can Change Your Life Forever.
Reply With Quote
The following user says Thank You to Earn2Trade for this post:
 
  #19 (permalink)
Elite Member
nashville, tn
 
Futures Experience: Intermediate
Platform: Ninja 8
Favorite Futures: es
 
Posts: 67 since Nov 2012
Thanks: 55 given, 8 received


Earn2Trade View Post
So sorry for the delayed response. Never got a notice of this post.
To answer your questions:

1) Yes you can use NT8 as long as you have a paid license and it supports Rithmic.
2) The income for futures would be passed through as short/long term capital gains, which is how futures are taxed.

Is there a reason we have to use rithmic data feed?

Sent using the futures.io mobile app

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  #20 (permalink)
 Vendor: www.earn2trade.com 
Austin, TX
 
Futures Experience: Advanced
Platform: Finamark, Sierra Chart
Favorite Futures: ES, CL, GC, NQ
 
Earn2Trade's Avatar
 
Posts: 39 since Jul 2018
Thanks: 1 given, 68 received



cshrum View Post
Is there a reason we have to use rithmic data feed?

Sent using the futures.io mobile app

Yes unfortunately it's because CQG cannot currently provide a realistic simulator environment. For instance, no commissions can be charged.

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

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