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"What a day, at one point i was down 1100$, i managed to recover and ended the day with 480$ profit."
I didn't say anything about stopping trading. I was thinking that if you have made it to $27,000 your trading could be such that negative days are tempered.
I would think most managers - assuming Gauntlet really gets you connected to one - prefer more steady P&L.
My reminder of what you posted was only with the interest of seeing you realize your goal and not a criticism in any way. Only you know yourself, your trading style and your goals.
Had some issues (which had nothing to do with Earn2Trade), Gauntlet got extended with 2 weeks, made some stupid mistakes but managed to recover, concentrion was a big issue for me, the alert system i created did not work as intentioned.
I had to find a way to make the system more efficient without having to stare at my screens for 10 hours a day, now i think i managed to do so but i will keep you guys updated once i have received my offer and started trading the funded account.
After making such bad mistakes in my Gauntlet i decided to do a review for myself of the past trades and conditions of the trades that i made in the Gauntlet, also including the missed trades.
I came to the conclusion that i missed loads of profit due to lack of concentration, i was trading/starting at 2 screens for 10 hours a day, which made me distracted to do other things/tasks/... during the slower hours or slow day's.
Because of this i missed loads of trading opportunities and i realized that i need to find a way to make my system more efficient without having to spend so much time on watching my screens.
I managed to do this by finding an instrument (NQ), that has lots of volatility which i need for my system.
The advantage of trading an index like NQ is that it is very easy to predict when it will be most active (first 2 hours of the US session), if the first 2 hours where very slow i could also trade the last hour. So this solves the problem of staring at 2 screens for 10 hours a day.
However in the past NQ gave me very negative results, i analyzed my trades and came to the realization that this was because of to much volatility in 1 candle, i was using time based charts (5 and 15 minutes), however NQ can move quite a bit in just 5 minutes which meant my stop sometimes had to be so far that it would hurt my PnL quite bad.
After doing some research and testing i found a solution for this problem: volume charts.
This way i get way more entry's during the first 2 hours (at least 5 a day, most of the timer closer to 10 a day), and the stops are much much smaller.
To be clear, the basics of my trading system (the way how i calculate when to enter for a reversal or continuation) are still exactly the same as during the good day's of my Gauntlet in which i did not screw up.
The first 10 day's of demo trading seem very promising, however 10 day's is by no means long enough to make any kind of conclusions.
So by now i have received my offer from Earn2Trade and as expected it is the minimum offer.
10K, 1K draw down, trading GC, NG and 6E, no overnight trades, 70/30 profit split.
After sharing my findings/conclusions from my previous post (see post above), Earn2Trade contacted Helios to share my findings and since they understood that trading the NQ as explained might be better for me, they always go with was has been demonstrated during the Gauntlet, so NQ is not an option.
However they also offered to redo my Gauntlet since they are looking for the traders at the best of their capabilities.
Now i can either start with the offer received or do a new Gauntlet to show that my changes would get me better results and so i would end up with a better offer.
So, i am going to sleep over it and decide tomorrow.
Last but not least, i want to add that so far my experience with Earn2Trade has really been fantastic, very understanding, fast and helpful support.
"Now i can either start with the offer received or do a new Gauntlet to show that my changes would get me better results and so i would end up with a better offer."
Once the offer is made is there ever a chance of that offer changing down the road to a greater than 70/30 split...or is another gaunlet always needed to improve the split?
This is what I am not keen on with Earn2Trade, you have no idea what they will offer you until after you have passed the test.
Does that mean a total maximum drawdown of $10k, with a maximum daily drawdown of $1k?
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
No, this means 10K buying power and 1K maximum draw down.
I received such a bad offer because of completely screwing up the Gauntlet, all because of my errors, not because my system failed.
I think Helios does review the traders performance every month, so i would assume that after some time there is the possibility to negotiate a better profit split and more capital.
So after some thinking i have decided to go for the new Gauntlet instead of accepting the offer made.
I think the reason why was already made very clear in my previous posts and i actually didn't need much time to think about it.
The instruments i was allowed to trade and the maximum draw down just weren't what i would like to go forward with.