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This is Rick, I tried the 25K Gauntlet few days ago and forgot to set the stop loss and bang, have to reset it. i was thinking upgrade to 50K for $136 but they told me the deal was gone, it is $170 now. So i reset the 25K.
First day 13th of this month, I only made $96.20, but it already over the "Maintain consistency" which is $44.4(46.15%). Ok, i need to slow down, so i schedule today to make less profit than 30% of the $96.20 which should be any amount under $28.26. somehow my total profit is $99 as today the 14th, my "maintain Consistency" become $51.80(52.32%). i can't figure out what's going on, i am bad at math. therefore, i gonna sign up with oneup trader this few days.
Can you help answer these questions from other members on NexusFi?
Hi Rick, you completely don't understand this simple rule. I've not known their rules, but after a quick read I had to laugh out loud after reading your post.
If you trade how you interpret this rule, I guess it will take till 2025 till you pass the evaluation . Sorry just a joke.
The rule says that your best trade should be below 30 % of your target or the amount of the target you hit. So in your case the target is $ 1,750.--, 30 % of it is $ 525.--. So your best day should be below $ 525.--, nothing else.
its not the best trade, its the best daily profit. Its a strange rule but i think they use it to avoid that people hit the target with one single lucky day, specially in this days with high volatility
I am done with my gauntlet mini. The only rule still open is the minimum trading days. I had to kept my profits under control because of "Maintain consistency" rule.
Well, I blowed my 25K twice , one 50K account once, that will be my 4th account.
Mistake one, trading too many contracts daily
Mistake two, let the loser run and kill the winner too quick
first day of my 50K reset, so Far so good, i will try my best to keep my hand off this account once it meet my daily profit. one Trade per day is good enough, control my emotions.
anyway, don't do the micro-contract , the commission going to kill you, do the regular contract.
yea i dont like micros, commissions are crazy, and frankly i find them useless. There are other ways to keep the volatily under controlls. If you like to trade nasdaq, for example, in high volatility you will see that russell is the same, but with the half of the average volatility. So 1 contract on russell is just like 2 contracts on Nasdaq. I traded 7 of my 11 trading days in the gauntlet on russell, just the last 3 days i traded on nasdaq, cos the volatility were getting better in the last days. Anyway, i also learned a lot burning a couple of accounts on the gauntlet, what i learned most is to give up in a bad day, if you force a recover you will burn it for sure. Just give up and trade again the day after Good luck