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


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

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  #301 (permalink)
Atlanta GA USA
 
 
Posts: 265 since Aug 2013
Thanks: 67 given, 244 received


Earn2Trade View Post
Yep, makes sense. AMP limits you to AMP accounts. You'd need to use the Sierra Demo or get a paid sierra login direct from them.
Glad it works now!

Thanks for the help. I was concerned that was going to be the problem.

Anybody else out there that is using AMP with Sierra and Earn2Trade and it works? Or are you using it with a paid direct Sierra account?

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  #302 (permalink)
Atlanta GA USA
 
 
Posts: 265 since Aug 2013
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Just one more question for you @Earn2Trade. So if I want to trade the sim Gauntlet feed as opposed to the 'live' Gauntlet feed, just check 'Trade Simulation Mode On' under 'Trade' in Sierra and that will be the sim Gauntlet feed?

Again, I really appreciate all your prompt replies and help on the connection issue.

Thanks!

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  #303 (permalink)
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emini2000 View Post
Just one more question for you @Earn2Trade. So if I want to trade the sim Gauntlet feed as opposed to the 'live' Gauntlet feed, just check 'Trade Simulation Mode On' under 'Trade' in Sierra and that will be the sim Gauntlet feed?

Again, I really appreciate all your prompt replies and help on the connection issue.

Thanks!

No problem! Please do not use simulation mode in Sierra, your account will not get trades. You'll need to change the account sierra is trading into by selecting it on the DOM or chart mode.

Ryan Masten
Earn2Trade
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  #304 (permalink)
wa/ usa
 
Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Trading: CL ES 6C 6E
 
Posts: 261 since Oct 2012
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@ryan @Earn2Trade

Question on your "maintain consistency" rule. I tried chatting with support and it didnt get cleared.
On any given day you cannot count more than 30% of profit goal. I get that part. But the second part where it says that


"You do not fail, if one day accounts for more than 30% of your total profits. You have to continue trading, until that day accounts for less than 30% of your total profits."

So if you are in 50k combine you cannot count more than 900 for any particular day towards the 3000 profit. (30% of 3000=900). but say if one day you make 1050(150 more than allowed 900) and now your account balance is 3200 do you meet the target as long as other rules are met or not ? The example you posted on your site is at 80% for failed one and for the other example that passed he doesnt go over the 30% rule so there is no example of what i am talking about.

Reason for asking is cause that one day (1050) is showing up as 32.8% of the profit target which is right but do you trade until you make extra $150(the excess over 900) or do you trade until you make 3500 which will make 1050 be less than 30%. ( 1050/3500 =30%).

What would be profit target in such a case if someone goes over the 900 for single day for 50k account ?

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  #305 (permalink)
Brussels, Belgium
 
 
Posts: 5 since Jul 2020
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Hello! Is a "K1 statement" a simple resume of my profit/loss within the LLC? Or does it contain a highly detailed list of my trades? Would any European Earn2Trade partner share how they handle it with local tax authorities? Thank you very much!

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  #306 (permalink)
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Mumbai, India
 
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As I interpret it, if you make an oversized profit on one day you need to demonstrate that you can make a similar amount on 2 more days.

e.g. if you make 2000 on one of the days you will need to make similar amounts for two more days pushing up your target from 3000 to 6000.


garyboy275 View Post
@ryan @Earn2Trade

Question on your "maintain consistency" rule. I tried chatting with support and it didnt get cleared.
On any given day you cannot count more than 30% of profit goal. I get that part. But the second part where it says that


"You do not fail, if one day accounts for more than 30% of your total profits. You have to continue trading, until that day accounts for less than 30% of your total profits."

So if you are in 50k combine you cannot count more than 900 for any particular day towards the 3000 profit. (30% of 3000=900). but say if one day you make 1050(150 more than allowed 900) and now your account balance is 3200 do you meet the target as long as other rules are met or not ? The example you posted on your site is at 80% for failed one and for the other example that passed he doesnt go over the 30% rule so there is no example of what i am talking about.

Reason for asking is cause that one day (1050) is showing up as 32.8% of the profit target which is right but do you trade until you make extra $150(the excess over 900) or do you trade until you make 3500 which will make 1050 be less than 30%. ( 1050/3500 =30%).

What would be profit target in such a case if someone goes over the 900 for single day for 50k account ?


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  #307 (permalink)
Raleigh, NC USA
 
Experience: Intermediate
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Posts: 23 since Mar 2015
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I am considering doing the Gauntlet. I already have a trading account through another broker that uses Rithmic and R Trader Pro. Would I be able to trade this account and the Gauntlet account from the same PC using R Trader Pro? If so, how does that work? Is there a way to toggle between accounts on the DOM?

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  #308 (permalink)
Leeds UK
 
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iqgod View Post
As I interpret it, if you make an oversized profit on one day you need to demonstrate that you can make a similar amount on 2 more days.

Maybe I have it all wrong (wouldn't be the first time) but that's not my reading of it at all.

It seems to me that you just can't have as much as 30% profit from any individual day's results, but you could (for example) trade for 72 days, making 1% of your profit per day on each of 71 of those days, and the remaining 29% all on one day.

I can't see anything about "making a similar amount" on any days?

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  #309 (permalink)
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Tymbeline View Post
Maybe I have it all wrong (wouldn't be the first time) but that's not my reading of it at all.

It seems to me that you just can't have as much as 30% profit from any individual day's results, but you could (for example) trade for 72 days, making 1% of your profit per day on each of 71 of those days, and the remaining 29% all on one day.

I can't see anything about "making a similar amount" on any days?

We are saying the same thing, so I agree with you. Variation of the same theme.

20% x 5 days

30% x 3 days and an odd 10% day

1% x 71 days and an odd 29% day.

And to be honest this rule sucks completely, which is why I'm doing a Gauntlet and not a mini-Gauntlet.

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  #310 (permalink)
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Also, if you make 100% on one day, you need to make 100% for two more days. Er... if you 'mistakenly' make 200% on the third day then a new monster looms.

My take was mainly on outsized profitable days.

If you are good then you need to be consistently good.

I realized it was a hamster wheel, see my posts after such a huge day:


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