Gauntlet Mini is a leader in the trader evaluation space for futures traders. Recently program changed to EOD drawdown calculation. Drawdown type and prom firm partnerships have solidified their place at the top.
We take a look at the program features and what makes it such a great tool for trader funding. Just look at Gauntlet vs TopStep to see how Gauntlet is superior to the biggest name in futures funding.
Gauntlet Discounts and Sales
Earn2Trader runs frequent promotions current promotion is 50k Evaluation for $99 or 40% off. They typically have one of the programs discounted while others are full price. Earn2Trader has frequent deals and discount codes.
Keep an eye on Funded Trader Deals page for all up to date deals in the funding space
Gauntlet Mini Review
Gauntlet trader funding evaluation can be completed in 15 days, traders are allowed to take as long as necessary to complete all goals.
End of Day Drawdown
Gauntlet now calculated drawdown at the end of the day. Huge advantage versus trailing drawdown funding programs. No need to worry about having to tailor the trading style to the drawdown rules. Keep closed + open P&L above the daily and overall drawdown figure known at the beginning of the trading session.
Funded Account Sizes
Trader evaluations are available in 5 sizes, the prices listed below are without any special discounts. Great value at full price that can be made amazing with their frequent promos.
PT – Profit target. Amount of profits required to reach to partner with prop firm for a live account.
DL – Daily Loss Limit. Negative daily P&L to stay above to remain eligible for funding.
TL – Total Loss Limit. An account can not exceed this total loss level.
C – Maximum position size. Maximum position size traders are allowed to have during the evaluation.
| PT: $3000
| PT: $4300
| PT: $6000
| PT: $9050
Gauntlet has some rules that could cause some trouble to the undisciplined trader. They are mostly pretty friendly to the trader and develop the discipline and risk management required for success in trading futures.
- Approved Times – Traders are allowed to trade form open to close of the exchange. Traders are now allowed to have positions on during the time in between sessions. Especially important for AG traders.
- Scaling Plan. Pro traders behind the program believe it is beneficial for traders to only increase size after having some profits in the account. Earn2Trade evaluations offer plenty of leverage from the start and especially after scaling up.
- Consistency – Biggest profit day can not account for more than 30% of all profits made. Having a big winning day will not result in a violation, but trader will be asked to trade till it accounts for under 30% of all profits. Prop firm funding traders likes to see consistent traders and not one hit wonders join their trader team.
Top Software is included in the cost of the evaluation, it would cost more to purchase the software and data than to participate in the evaluation with a chance of trading with a partner prop firm. Besides the trader dashboard tracking performance, traders will also get access to the following software:
- Finamark License – $125 value – state of the art charting platform specializing in sophisticated volume analysis while being very light on the resources. Amazing product to try if you are just looking to try software
- NinjaTrader – most popular futures trading software is also available free of charge.
- Jorunalytix – trader journal and performance tracking. Especially new traders can benefit by keeping track of all the trades, setups and mental well being during execution. Leader in trader performance tracking and journaling provides just that, included for free with Gauntlet trader funding program.
- Education – traders will have access to a large collection of video and text educational material. Professional and certified traders behind the program have put out some really good content. Enough to get any new trader started or to fortify some concepts for experienced market participants.
- Live Data – all the live data for futures products is included for free.
Once funded traders will be entitled to 80% of the profits made with 20% going to the Prop firm.
Gauntlet Earn2Trade Pros, Cons, Tips
We rank Gauntlet Mini trader evaluation very highly amongst all programs. Great bundle, great to work with, solid prop firm, and straightforward rules. Let’s look at some of the Gauntlet trader funding program highlights
- Multiple funded accounts are allowed
- Established program with real names and company behind it.
- EOD drawdown – more trader freedom.
- Bundle – software and education.
- Value – great price considering evaluation parameters.
- Frequent discounts – can get some amazing opportunities to leverage small fee into trading career
- Scaling Plan – Idea of scaling plan is correct. Traders should carefully scale up risk as account balance increases. However, punishing them for failure to do so is a bit harsh. Rule almost seems to be made to lower the amount of participants advancing. Please see Gauntlet tips section for ways to neutralize this.
- Consistency – making and preserving profits is very valuable. However traders who prefer to push on the days they are more in tune with the market will feel that this rule prevents them from unlocking their full potential. Fortunately this is just evaluation step rule and does not carry over into live trading environment.
- Duration – 15 days. 3 market week evaluation is more than fair, but lags the competition. There are already rules in place to prevent one trade wonders with the consistency rule. Feels like one of those rules should go and still accomplish same goal for the prop firm.
Overall Gauntlet’s evaluation comes out as a top name in the futures funding industry. With such great value offered partner prop firm needs to establish that trader is capable of following rules and structure while achieving profit goals.
Neutralize the possibility of going over the allowed size. One of the only cons of the program is the violation positions size rule. Create a risk manager with your trading platform to not allow it to enter a larger than allowed position.