DislikedAfter passing evaluations account how long do you have before you have to activate the PA accounts on APEX? Example if i pass today can i activate the PA 2 weeks later?Ignored
1
Featured US Prop Firms
- #36,582
- May 15, 2024 3:37pm May 15, 2024 3:37pm
- Joined May 2020 | Status: Classified | 2,500 Posts
OMG, someone actually gave the right answer. That doesn’t happen very often, in this thread.
Some here seem to believe that averaging into a position is a loser's game, no matter how you look at it. I think, there are some misconceptions about this. I cannot imagine that anyone would not break up their trades if they were trading larger lot/contract sizes on an live account. There is no reason not to do that.
From APEX discord:
So, no DCA into a 'losing' position, but acceptable in a 'winning' position. Who would want to average out? They go on to define DCA as adding to an open position or average the entry to a lower price. How to average the entry to a lower price if you cannot add to a 'losing' position?
I cannot imagine trading this way on a live account... breaking up my trades and having to wait until my entries become less ideal before I can add to my position, or, endure excessive slippage. Hmm...
- #36,585
- May 15, 2024 4:58pm May 15, 2024 4:58pm
- Joined May 2020 | Status: Classified | 2,500 Posts
I bet their registrations will reduce to halfas gamblers may be their bread and butter. It may have spiral impact once they start denying payouts.
Bad traders/gamblers need to be able to operate within their comfort zones. Too many rules/traps will either force them to change (and become better), or, deter them from signing up altogether, which are both bad for the firm's longevity under the current model.
Keep outliers contained with universal and permanent profit caps. Ban legitimate cheaters. Enforce minimum trading days with consistency rules. Once a trader reaches a maximum, total-profit-level, force them to choose between live or exit.
This idea that a trader must be able to discern market sentiment or predict market direction in order to be deemed a legitimate trader seems nonsensical to me. Most traders are reactionary. They often wait for confirmation before acting. They know that price could either go up or go down. They wait for news or other fundamentals, or they wait to see if there is a breakout, a bounce, a continuation, a reversal etc.. Some traders only look at DOM and do not even look at the chart.
If a strategy is consistently profitable with proper risk management, then it should be allowed. I think, if a trader is straddling the opening of NY session, for example, and is consistently profitable doing that with proper risk management, then so be it. I do not see why that should not be considered a legitimate trading strategy.
On the other hand, if a strategy is only possible within a demo environment, then reasonable changes should be made to ensure fairness. This can be done with a consistency rule, in most cases. For example, not more than 20% of total profits may be made from XYZ.
This way, you prevent abuse without relying on blanket bans that could ultimately hurt the overall profitability for the firm. Consistency rules also force traders to work harder if they break these soft rules, allowing for more opportunities for failure, which is beneficial for the firm. And traders will likely keep coming back, whereas, if you have outright payout denials with account closures as a result of soft breaches etc., then you are only shooting yourself in the foot before slowly bleeding to death.
- #36,586
- May 15, 2024 7:03pm May 15, 2024 7:03pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #36,587
- May 15, 2024 8:15pm May 15, 2024 8:15pm
- Joined May 2020 | Status: Classified | 2,500 Posts
You're falling into the entitlement trap. No one is entitled to everything just because they ponied up a $20 entry fee. None of what you wrote would ever get you past the door within a traditional brick and mortar prop firm. And even if you did manage to make it thru you would get bounced fairly quickly. Most firms require you to trade their way, within their rules, and with a very short leash.
I do not feel entitled in any way. I am simply discussing what I see is the possible problem and how to circumvent that problem so that firms can remain operational.
My opinion regarding what should constitute trading is just that - an opinion. It does not affect me or how I trade. Having rules that prohibit DCA or some other thing is a non-issue for me, but something that I simply have opposing ideas about. I have no issues playing by house rules.
- #36,588
- May 15, 2024 8:18pm May 15, 2024 8:18pm
- Joined May 2017 | Status: Intermediate Trader | 6,419 Posts
Man as i am out enjoying my vacation. This apex has messed up my Psyche. I already have max allocation but with these mouth watering offers. I have purchased 40 more evals 20x250k and 20x50k as backup. That means i am sure in my heart n mind i’ ll lose the current max allocation and pretty soon lol
Extreme gut feeling trader
- #36,589
- May 15, 2024 8:27pm May 15, 2024 8:27pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote}-
Trade with confidence, trade without fear.
- #36,590
- May 15, 2024 8:29pm May 15, 2024 8:29pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Man as i am out enjoying my vacation. This apex has messed up my Psyche. I already have max allocation but with these mouth watering offers. I have purchased 40 more evals 20x250k and 20x50k as backup. That means i am sure in my heart n mind i’ ll lose the current max allocation and pretty soon lol
Trade with confidence, trade without fear.
- #36,592
- Edited 9:32pm May 15, 2024 9:16pm | Edited 9:32pm
- Joined May 2017 | Status: Intermediate Trader | 6,419 Posts
{quote} What happened to your existing PA’s? Did the yolo demon rob you of them?
Also a REVIEW for e8markets. I tried their v1 pro model. Man, their spreads are out of this world. May be they are running the firm on MARS or PLUTO but not on EARTH for sure.
45-48 cents on xaususd
1pip on cable
3-3.5 points on Dow
65-68$ on BTCUSD (I mean is it for real)
Excluding slippages
When i asked the support they said its asian session while it was london open. I monitored for whole day all sessions SAME.
Added it to my LIFETIME BANLIST
Extreme gut feeling trader
- #36,593
- May 15, 2024 9:29pm May 15, 2024 9:29pm
- Joined May 2016 | Status: Trader | 6,320 Posts
{quote} I have them thats what i am saying already max allocated 20x50k. 900$ profit in each of them and 400$ drawdown deficit. Purchased 40 evals as backup which i never did with any other firm ever.
- #36,594
- May 15, 2024 9:30pm May 15, 2024 9:30pm
- Joined May 2017 | Status: Intermediate Trader | 6,419 Posts
Extreme gut feeling trader
{quote} I have them thats what i am saying already max allocated 20x50k. 900$ profit in each of them and 400$ drawdown deficit. Purchased 40 evals as backup which i never did with any other firm ever.
- #36,597
- May 15, 2024 10:49pm May 15, 2024 10:49pm
- Joined Nov 2006 | Status: Trader | 4,419 Posts
{quote} I don't know about DCA rules before, i thought its something new, last week NQ was great for average down due to choppy price action, I did using micro lots, I hope I still get paid when it's time for payouts..
darrell mentioned dca in one of apex's videos..... but was not clear about if averaging up was ok...... adding to winners is common for me.....
there is a subtle way that might keep us in the dca down clear...... with 20 accounts and trading individually, or small groups, you could sell at 40,115 in one group..... 40,120 in another....... 40,125 in another and so on..... i'm sure you see the thought.....
i use the doms atm feature , with preset values of 1 to 1...... 100$ profit target and 100$ stoploss..... so i will make 100 or lose 100 almost every day in every account that's traded.... this keeps things consistent..... apex seems to want consistency.....
personally. i have nothing against order entry resolution.....merlin talked about the value of it 20 years ago...... some might call it dollar cost averaging.....
to me it's useful..... technical buy sell signals are rarely dead on.......h
//------
to trade and code, keep both simple... no call to impress....h
- #36,600
- May 16, 2024 12:06am May 16, 2024 12:06am
{quote} I have them thats what i am saying already max allocated 20x50k. 900$ profit in each of them and 400$ drawdown deficit. Purchased 40 evals as backup which i never did with any other firm ever.