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Starting next week I will start my first funded account with Apex. I started the account late Friday after 5pm EST. My question, I'm using Rithmic and when I attempt to log on it fails (see Administrator warning). I've followed the instruction to a tea several times and get the same warning. Do you think it's because the weekend plus the Holiday that it will not let me access Rithmic Trader Pro?
Any advice on how I should trade a $25K account? Apex has a goal of $1,500 with a max Trailing Threshold of $1,500. My thought is to enter 2 contracts per trade twice a day and scalp out at 1 point for 7 days (one more addition trade at some point to make it $1,500). If I'm successful with my entries then in my non professional way I think this will work. What do you guys think? Thanks
Second question on computer speed, how important is a computers internal speeds, CPU, Graphics card etc. to trading. I'm using a 3 year old HP with Xfinity internet. I've never seen a problem with it however one of the tutorials on Apex suggest its critical, your thoughts please.
Follow your Plan
Can you help answer these questions from other members on NexusFi?
I'm funded through apex also with 25k accounts ... I would advise trading the micros not the minis as the contagion from 4 or 5 losses in. Row of the minis putz most traders on tilt
A 25,000 Apex account is essentially a 1500.00 account; that's all the drawdown you will get until the account terminates. IMHO, avoid trading the Mini and stick with the Micro. Make your money through compounding; add accounts as you profit and receive withdrawals, but do the same thing each day; achieve a humble profit target, and shut it down. 100.00 a day on the maximum 20 accounts that Apex will allow you is 2000.00 per day! Nothing to turn your nose up at. Once you have 50,000 in profit (thus, 50,000 in drawdown) in the account, then you can think about trading the Mini, but the risk increases tenfold, so I know many that only trade the micro, happy with what the market gives them because they have multiple accounts. Work smarter, not harder, and remember, it's not a race.
Can you log on today? And are you trading on NinjaTrader or Directly inside of Rithmic? Usually the admin warning indicates you have blown up the account by hitting the drawdown
Thats a small drawdown for the mini's (ES/NQ) so like others I would recommend to stay on the micros (MES/MNQ). Everyone has their own setup and trading style, so its really hard to give a specific set of instructions to follow. For any trading strategy, be sure to have a good risk to reward ratio before entering a trade and by that I mean dont just enter a trade hoping for 1 point, without truly knowing the support and resistance above/below your entry.
Also was this the same strategy you used to get into the funded account? Did you have to reset a bunch of times? If this is a new strategy for you, then I would hesitate to say go for in a funded account. You should try it a sim account to see if it works first before risking losing the funded account.
Faster is generally better, and it will not hurt to have a faster computer or internet, but it isnt required. The faster the CPU the more screens and more applications you can have running, same with GPU. The faster your internet, the less interruptions you will have. Having fiber virtually eliminates lag too. I would say use a desktop over laptop, if you can, and no matter which you are using be hardwired into your internet using an ethernet cable for best performance and reducing in slippage and lag, WiFi can add 1-5 seconds of lag which can be quite the difference on order placement
Thank you all for your thoughts, would like to say for starters I got Rithmic working after deleting NT entirely and then reinstalling, then followed their step by step instruction. So now after 12 days of trading the $25,000 dollar account, needing to make $1,500, I now have an Account Balance of $26,578 with a Auto Liquidate Threshold Value of $25,078. Cash on Hand $26,578. At first I thought this was the goal to make $1,500, now I'm not so sure. Reading through the Apex rules it looks like the Auto Liquidate Threshold Value is what needs to be $26,500 not the Account Balance. Is that correct?
Just received the email, I passed! I was really confused by the Apex instructions but I must say I've been under tremendous stress these last couple weeks with this Evaluation.
Congratulations JMAL. Very good effort.
Please be patient with your funded account and do exactly what you were doing with your evaluation account.
Do not change a thing just stick to it.
Looking forward to hear that you double that account
