Greeting Traders and welcome back.
Today we're going to discuss
one of the most frequently asked questions that we get here at Earn2Trade,
and that is: "How do I pass the Gauntlet Mini?"
The Gauntlet Mini, if you're not aware, is one of our flagship programs
that gives traders the chance
to prove their trading prowess, and if they're good enough
they will receive a funded trading account.
This means that traders that don't have money but have the skills
can bridge the gap. It's a pretty cool opportunity
but you've got to be good enough, and to be good enough
you need to know what rules you need to adhere to,
as well as what targets need to be reached.
we're going to cover all of that in today's video,
as well as throw in a couple tips to give you the highest chance possible
to pass your Gauntlet Mini.
The first place we'll start is covering the rules
and rule number one is to trade during the approved trading times.
In short, this simply means cash hours,
with the close occurring from 3:10 PM to 5:00 PM central time.
This is going to be an opportunity to trade
during the most volume-packed periods of traded activity in the world.
these are the most sought after hours to begin with
so this should be of no real concern.
We want to avoid trading overnight.
That way we don't get caught up in any irregular volatility.
The second rule is to adhere to the progression ladder.
The progression ladder is going to be something that tells us
how many contracts we'll be able to open based on our current account size.
The progression ladder is going to be unique to each account option.
It's not going to be the same across the board.
more information on this will be listed below,
but this is a very easy rule to follow. Just pay attention
to the maximum number of contracts that you're allowed to open
and don't open any more than that at any one given time.
Rule number three, do not reach or fall below the daily loss limit.
Another very straightforward rule.
It's going to be the maximum amount of money
that our account is allowed to fall backwards before we fail.
It's something that most of us are probably already using,
in one way or another, in our daily trading,
and the way that we want to cap off a bad day at a certain point.
We don't want to allow ourselves to lose any more money
than a predetermined amount. It's a good trading practice
and if you're aware of what the daily loss limit is
for your particular trading account, simply avoid it.
Rule number four, do not reach or dip below the end of day drawdown limit.
the end of day drawdown number is going to be, once again, specific
for each account option, and it's a number that's going to move
based on the highest point your account closes at each day.
as your account rises, the lowest point your account can fall to rises with it.
It never goes backwards, up until the point
that it rises to your starting account balance.
At that point, the end of day drawdown will rise no more.
Now we'll cover the three targets that need to be met
in order to achieve that passing status.
The first is to trade a minimum of 15 days.
These days don't need to come in any specific order
and you can trade more than 15 days
but we want to see at least a sample size of 15 different trading days
of data for us to look at.
The second thing we need to do is achieve the profit target.
The profit target is going to be something that is unique
to the account option that you choose.
So once again, pay attention to your specific number,
but it's just a number that we need to aim for.
A number that we need to achieve and we can do more than it
if we so choose, but it's the minimum amount of profitability
that we need to achieve in order to showcase ourselves
as being profitable traders.
The third and final goal that we're looking for is to maintain consistency.
What this means is that 30% or more of our total trading profits
should not come from one trading day.
The concept here is we want to make sure traders are doing things
in a repeatable manner. Something that is long-term sustainable.
We want to be old traders, not bold traders.
Now that you know the rules that need to be adhered to,
as well as the three targets that you're looking to achieve
let's talk about some tips to give you the highest chance possible of succeeding
The first is that if you're looking for a fast connection
look no further than RTrader Pro.
RTrader Pro was made by Rithmic, and Rithmic is the data feed
that you'll most likely be using when you take your Gauntlet Mini.
That means that this platform was calibrated for their specific data feed.
So in theory, it should be the fastest platform option that you'll have to choose from.
My next tip for you is to make sure you're closing your trades out while they're profitable
and don't get too concerned with waiting for some massive home run trade.
The majority of the traders, when we look at the data,
that are actually passing their Gauntlet examinations,
are doing it because they're taking small bits of profit.
They're taking the profit while it's there.
So don't be afraid to take some green.
My third and final tip will be to focus on assets
that are available all in the same exchange.
The reason behind this is, as you progress throughout your trading career
it's going to be important to make sure that you're keeping
your extracurricular costs as low as possible.
What I mean is, if you're trading things
on a variety of different exchanges
you'll have to pay for data fees from all of those different exchanges
versus if you're trading with things that are available on one exchange
you only need to pay for one.
On top of that when you're trading a smaller number of items
it allows you to become more of an expert amongst those items
instead of trying to juggle a thousand different products
that you really never become a master of.
So keep it small, keep it fine-tuned, and know what you trade.
At this point, the only thing left to do is to choose
which account option is right for you.
Begin your Gauntlet Mini journey with positive thoughts in mind
and give it all you've got.
You have everything that you need in order to pass.
Now it's just time to execute and follow your trading plan.
Best of luck out there in those markets,
I hope to see you on the other side.