apex futures attempt

[hayseed]

looks like the forex prop dynasty is crumbling here in the states...... figured i might start scratching about for something else...... no harm in spreading my losses around......

looked into futures this weekend.... signed up with a single apex 25k this morning...... took at most 15 minutes..... maximum allowed accounts is 20......

twenty, 25k accounts would run just under 700$ with 80% discount...... and about 300$ with 90% discount......

slightly more complicated than standard forex..... it would be helpful if you had traded futures before......

chose tradovate platform...... a 25k evaluations runs slightly over 30$ with the 80% discount..... there is a minimum trade days to pass, no maximum..... some other benefits.....

1500$ target to pass the evaluation.....

trading only micro's...... dow, nasdaq, s&p, russell, gold and such...... trend trades only.....

there are some other decisions to be made and rules to follow once/if the evaluation is passed.....

first things first.......h
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[Phill88]

I think futures prop firms should be stable in the USA. Good luck!

 

[hayseed]

might be a good idea to try a tradovate demo first....... lot going on......

you can create your own layouts to reduce the noise...... and enlarge the chart full size to hide it altogether......

similar to etrades platforms......h
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[hayseed]

update.......

spent last week getting familiar with the platform...... had never seen it before..... comfortable to say i probably have 50% of it figured out..... only today began looking at the accounting and report functions ...... couple examples below..... the dates confuse me.....

almost half way to the target amount on first evaluation.....

went ahead and purchased the other 19 allowed accounts...... tradovate has an internal copier..... you just create and name groups of your accounts..... placing a trade in one member of the group will place the same trade in all.....

as a test, i named a group "two" which contained 2 accounts..... another group "five" containing 5 accounts...... and another group "ten", containing 10 accounts......

the reason for those names is, if you intend to place a single lot trade in a group of 2, you must double the amount, so 2 lots..... the copier will place a 1 lot trade in each account...... for a total of 2.... the copier does the division..... you only have to use a multiple of 2.....

in the account "five", my lot size must be a multiple of 5, the copier divides it equally between those five accounts.....

and so on...... the group name tells me the multiple needed.....

using metatrader as a decision source ...... down to the 1 minute chart.....

apex has a trailing drawdown limit...... it should not be a problem if you trade the 1 and 5 minute charts.....

it will probably take a couple weeks for me to get a good grasp on all tradovate features......

can't seem to get the reports dates figured out......h
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[hayseed]

update, but for mostly pre validation posting of charts......

apex seems determined to focus on traders with at least some semblance of a trading plan...... a full and in depth trading plan is preferable.....

fully understand their point of view...... it might be wise to, in advance, post charts well before just in case a trade is ever questioned...... that way rather than fumbling about you could just say, ' oh yeah, look back on the enivids site on the 7th'..... it might be days or weeks before they ask...... so be prepared......

they have a 'master course' that must taken prior to trading...... that course really is just watching hour long videos explaining their do's and don'ts..... again, fully understand their views..... do the do's and don't the don'ts.....

currently 2/3's complete on evaluations..... odds are it will take me a few more days, assuming i pass...... see no need to rush.....

still have a ways to go before i feel efficient with tradovate platform.....

gold drug me through the brush today, otherwise balance would be higher.......h
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[hayseed]

judging from their videos, they will probably only looking hard at out of place large profits..... it's a consistency rule.....

if you trade 1 micro every day for 20 days making 30$ but have 1 day where you traded 40 micro's and made 20,000$, it might get questioned..... it seems inconsistent.....

so prepare in advance just in case..... you can trade multiple strategies..... it can be a quadruple top or a ma cross...... they do have some strategies that are not approved.....

apex does not seem interested in cowboys or gamblers...... they understand occasionally we might have a outsized gain........

below is an example of having the chart made in advance......h


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[hayseed]

crawling to the finish line......

several of apex's videos repeatedly speak of the need to have a true plan with the ability to explain it if asked..... anytime someone repeats themself multiple times, it gives me cause to listen all the more close.....

my contract size will likely never be more than 1 micro, so being caught up in having to explain is near 0..... but still.....

having well defined charts and/or videos explaining your trading thoughts surely would suffice...... and it might be good practice no matter the situation......

having the accounts divided up in some fashion allows for tradovates copy trade function to place the exact same trade in each account in the group......

need to give some thought as to what each group will be designated to trade.....

in the case of the russell 2000 below, even documenting why you let it run might be useful......h
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[hayseed]

might be being too cautious on the consistency rule....... if people know you are well prepared, there is little point in them asking much.....

they will just move on to the next guy who might not have a leg to stand on......h
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[hayseed]

need to improve my win/loss ratio....... 80% minimum.....

need to figure out a profit target/stoploss work around....... bracket orders are not allowed in copy trading......

need a single well defined strategy......h
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[hayseed]

passed...... terrible w/l ratio...... needs to be > 80%...... high 80's would be normal..... commissions were not be a factor......

it was me.....h
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[hayseed]

found a quick start guide...... still trying to get a grasp on platform......

the links in the pdf should work......h

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[hayseed]

learned a valuable lesson the hard way today......

if you have a group of 19 accounts and you want to place 1 micro in each, the trade size must be 19 ...... tradovates internal copier divides that 19 between the accounts......

it would seem better to just leave the trade size at 1 and have the copier place 1 micro in each...... this would prevent errors like mine today......

i have one account not in the 19 group..... it trades by itself, or did...... twice today forgot to change it back to 1 from 19......

so i sent a order for 19 micros when wanted just 1...... the immediate loss took me by surprise...... it took me a couple seconds to figure out what i did wrong......

twice is twice too many....... will only trade all 20 together from this point forward......

live and learn...... or lose......h
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[Enivid]

Why are you keeping 20 different accounts?

 

[hayseed]

Why are you keeping 20 different accounts?

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hey enivid...... the maximum accounts per household is 20...... the size does not matter, it's 20 max...... the 25k's are somewhat cheaper all around....

there is also a slight technical advantage in terms of the trailing drawdown when comparing a single 500k account vs twenty 25k accounts.......... i know someone that last week lost a apex 300k account due to the trailing drawdown.....

really can not see that trailing drawdown being any concern for me...... my trade sizes are small..... but tradovate is new to me and i expect some bumps.......

what's going to hurt is losing metatrader4...... h
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[hayseed]

having to move to metatrader 5.....h
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[hayseed]

have never ever suggested anyone trade forex......

have never ever suggested anyone trade futures......

never will....
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busy converting almost 20 years of mq4 to mql5..... here's a good article from sergey pavlov on conversion...... migrating from mq4 to mq5......

with 20 apex 25k accounts the first 500k in profits is yours 100%...... after that you get 90%.......

it will be far easier to make that 500k than to convert all my mq4 to mq5......h
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[hayseed]

passed...... terrible w/l ratio...... needs to be > 80%...... high 80's would be normal..... commissions were not be a factor......

it was me.....h
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all 20 are passed and trading in pa status......

improved on the win/loss ratio...... with the exception of those errors in that first account on monday, there were 0 losses this week......

next week the sheets come off......h
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[hayseed]

thinkin next week might be a bit tough...... going to estimate between 50 and 300 trades next week..... averaging 20$ per........

will post my results here regardless.....
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to pass the evaluation on twenty 25k accounts you must make a minimum of 30k...... 30k....... 1500 per account.....

then you start over with pa accounts ...... to get your first payout, on twenty 25k pa accounts, you must make 32k....... 32k...... 1600 per account.....

so, before your first payout on twenty 25k accounts you must make 62k....... 62k..... 3100 per account......

62k would choke a full grown mule.........

know it going in.......

line'em up and let's play......h
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[hayseed]

1000$ 240 zigzag leg coming up.......h

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[hayseed]

ict'ers and full value gap'ers are going to have a field day.......h
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