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I was mostly interested in hearing direct experiences from traders on this board who are or have been funded with Earn2Trade. But considering the lack of replies it's possible that there is none at the moment or that they missed this question.
I could ask E2T one question though:
For a funded trader. Is there any reason to not initially choose the Live account and choose the LiveSim instead? I understand it's quicker to set up a LiveSim, but if the trader wants a long term relationship and actual funding - does it not make sense to go directly to the live account?
Every trader is different and their needs as well, while some prefer the Live account over the LiveSim there are many interested in the latest. The main reason is the data fee, which is coved by the prop firm as long as your status is non-professional. This allows the trader to focus on their trading, strategy, building up profits and withdrawing before having to pay the professional data feed cost on the live account ($105 /month/exchange).
Regardless, we always leave it up to the trader. Whichever direction you want to go, it will be provided.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
On the LiveSim it is necessary for a trader to pay the cost of the data feed ($105 /month/exchange) in case their status is professional. On the Live account, they are able to use their own data feed for charting purposes only, and the execution feed will be provided by the prop firm with no extra cost.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
What are the long term prospects for a funded trader trading a live account?
Is it possible to gain access to even more capital if the trader proves himself successful?
I'm trying to get a sense of if it makes sense for a funded trader to simply get his initial 10K and withdraw them or if would be a benefit to keep growing his account with Earn2Trade or Helios (which I don't know much about).
If the trader shows a consistently profitable performance, there is every chance that the prop firms will increase capital. The prop firms also understand that there is no trader who will always be profitable, and that is not a requirement - what traders do need to show, however, is that they can hold on to accounts and remain in control of their emotions, not blowing up large accounts on a single bad day.
We always recommend staying with the prop firms as long as possible.
Earn2Trade www.earn2trade.com Become a Professional Trader. Decisions That Can Change Your Life Forever.
Let's say I get funded and rack up 25K of profits. Can I withdraw 25K profits and still be funded?
The impression I'm getting from all these various firms is that if you're funded what you're effectively getting is 4.5K USD to trade for as that's the drawdown. And that if you want to keep on trading you're always risking your own profits and never any firm capital. Maybe this changes further down the line?
If not, it seems to me that I could just as well rack up $5K in the LiveSim and withdraw 80% of that ($4K) and just deposit that into my own private account to trade for and keep 100% of the profits.
Alternatively, let's say I go directly with a Live account and trade that up to $20K, withdraw and fund my own account.
However, if the firm would allow me to withdraw capital and still trade size that would definitely be interesting. But it's not clear to me if that's a true possibillity and if it makes sense for the trader to stay with the firm long term.
Trading: Daytrade Futures, Swing Stocks, crypto and forex
Posts: 12 since May 2020
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I agree, most of the firms call it a funded account but in effect you are trading your own money. I hope some regulation will be put in place for this industry because at the moment it seems a bit of a wild west.
However, to be fair, I understand the firms point of view and how they won't give a total stranger who just completed 15 days (!) of trading access to a big bankroll.
The curious part is if they will at some point, though? Let's say you continue trading profitably and rack up profits. Will they let you withdraw and continue trading?
I know that with many of the other companies that will never happen. Then again, some of them have you trading in simulator anyway.