Earn2Trade’s Funded Trader Program – The Trader Career Path and The Gauntlet Mini™
Earn2Trade’s futures trading exams are a potential stepping stone for anyone looking to pursue trading seriously. The Trader Career Path and The Gauntlet Mini™ let you show off your trading skills on a virtual account with live market data. You do not invest real money (although there is an exam fee), and the profit or loss during the exam is also virtual. Candidates pass the test by trading consistently and reaching the profit goal while sticking to the rules over a minimum number of trading days. When they do, they receive a funding offer from a proprietary trading firm.
The Trader Career Path
Earn2Trade offers two types of evaluations. Their first funded trader program is the Trader Career Path, which features a funding offer with a scaling plan. It starts traders off on a $25,000 virtual account. After they pass the exam and receive their funding offer, funded traders can withdraw 80% of the profit they make from their funded trading account. When they withdraw enough profit, the proprietary trading will upgrade them to a larger account size. Traders can keep upgrading up to a $200,000 account. The Gauntlet Mini™ section of this article will have more details on the upgrade sizes.
The first step is to open a new account. That means signing up for a monthly subscription. The duration of the candidate’s subscription is also the time limit they have to pass the test. Don’t worry; it’s not unrealistic to complete it within the first month of your subscription. You can also cancel at any time.
Gauntlet Mini™ Account Types
While the Trader Career Path starts on a scaling $25,000 account, the Gauntlet Mini™ allows traders to select their account size from $50,000, $100,000, $150,000, or $200,000. The profit goals for completing it depend on the exam account’s starting capital. The trader’s initial account size also affects other rules, such as the daily loss limit, the number of contracts they can trade, and the drawdown. In addition to being a funded trader program, Earn2Trade’s Trader Career Path and Gauntlet Mini™ also include a few other benefits that we’ll get back to a little later.
To pass either funded trader program, the candidate has to trade a minimum of 15 days and reach the profit goal. The third requirement is showing consistent results, which we’ll explain later in the article. When traders meet all three objectives, they pass right away. There is no time limit for how long you have to meet any of your goals. Traders can take as long as they want. The trader must also adhere to the following rules, or else the trading account gets suspended:
- Only trade during approved times. Generally, traders need to close their positions between 3:50 PM and 5:00 PM central time and during market holidays. Some assets may need to be closed earlier.
- Do not trade more contracts than you’re allowed. The number will increase as you grow your account.
- Stay within the daily loss limit.
- Do not let your account balance drop below the drawdown line. The drawdown line is a set value below the trader’s highest account balance. It’s initially calculated at the end of day, but later transitions to a moving line pegged to the trader’s highest intraday balance. After the moving line reaches the trader’s starting balance, it stops there, meaning the trader is safe as long as their current balance doesn’t drop below their starting balance again.
A user who breaks the rules can reset the account by paying an additional $100. Doing so restores their starting capital but does not alter the monthly subscription cycle. Having the option to reset allows a trader to return to the program if they failed earlier.
As mentioned earlier, there is one more requirement for passing beside the profit goal and the minimum days traded. That is the “Maintain Consistency” rule. As long as one day accounts for 30% or more of the trader’s total profit, the exam isn’t over yet. For example, if a trader makes a total profit of $3,000 and earns $1,250 of it in one day, they have to continue the evaluation. If this same trader increases their profit to $4,000, then (because $1,250 is less than 30%) the trader passes, assuming they meet the other two criteria too. Going over 30% does not fail the evaluation; it just makes it take longer to complete.
Since the Trader Career Path and Gauntlet Mini™ aim to provide a real trading experience, participants can trade only during actual trading hours. Trades are also not allowed on market holidays or at any time when the exchanges are closed.
It’s worth pointing out that any profits the trader makes during the Trader Career Path or Gauntlet Mini™ evaluation are purely virtual. Therefore, the trader cannot withdraw any profit they make before getting funded. On the flip side, the trader is not responsible for any losses they incur, whether before or after getting funded.
What happens after completing the Gauntlet Mini™?
After successfully meeting the requirements, the trader receives an offer from Earn2Trade’s prop firm partner. At that point, the trader gets an opportunity to use actual capital provided by the prop firm. The amount they get access to depends on the account type selected in the Gauntlet Mini™ program or starts off at $25,000 if they pass the Trader Career Path.
According to the profit-sharing agreement, the trader can keep 80% of the funded trading account’s profit. If the trader’s account balance rises so high that their drawdown line reaches the account’s starting balance, then the drawdown line will stop rising. At that point, their daily loss limit is also removed permanently. This allows traders to trade more freely, with fewer constraints. However, funded traders need to trade at least once a week. Unscheduled absences of five consecutive business days lead to account termination, with emphasis on unscheduled. Traders are still able to take days off from trading by notifying the prop firm in advance.
A funded trader program like Earn2Trade’s Trader Career Path or Gauntlet Mini™ can be an effective way to kickstart a trading career for enthusiasts looking for proprietary trading opportunities. The program provides a real-time experience and equips participants with the necessary tools to make it in the futures market. Whether you succeed is up to you.