ApexTraderFunding.com experience and review - futures io
futures io



ApexTraderFunding.com experience and review


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Howard Roark with 15 posts (24 thanks)
    2. looks_two MR79 with 6 posts (9 thanks)
    3. looks_3 Merkd1904 with 5 posts (13 thanks)
    4. looks_4 bobwest with 2 posts (8 thanks)
      Best Posters
    1. looks_one bobwest with 4 thanks per post
    2. looks_two Merkd1904 with 2.6 thanks per post
    3. looks_3 Howard Roark with 1.6 thanks per post
    4. looks_4 MR79 with 1.5 thanks per post
    1. trending_up 4,529 views
    2. thumb_up 63 thanks given
    3. group 12 followers
    1. forum 31 posts
    2. attach_file 2 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

ApexTraderFunding.com experience and review

(login for full post details)
  #21 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


MR79 View Post
Great,
I will keep you updated on whether it worked with Leeloo at the end of November without problems with the payment of the total capital. I'm curious to see if they come up with something else to avoid having to pay.

MR79

I hope and think you'll get paid. They just don't seem to make it easy for traders.

The reason I brought it up is because most of my trades with this trading style due to the trailing drawdown are very fast scalps. Often I'm done in < 15 seconds. In and out. I imagine they could use that as their rules says something about high frequency trading not being allowed. Which is kind of up for interpretation.

Reply With Quote
The following 2 users say Thank You to Howard Roark for this post:

Can you help answer these questions
from other members on futures io?
Harmonic Patterns Indicatorsto be corrected
EasyLanguage Programming
Google Keyword Search Alerts
Traders Hideout
Chart Comparer
NinjaTrader
one chart to another
NinjaTrader
Does anyone have the code for Anchored Vwap to use in Qu …
Traders Hideout
 
 
(login for full post details)
  #22 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


Merkd1904 View Post
Since i signed up i’ve essentially stepped in one pile of crap to the next. Equal parts it being my own haste and not doing my due dilligence, and Apex’s either willful or ignorant omission of key portions of the program.

I’m giving them the benefit of the doubt since they’re so new. I’ve been getting the feeling that a lot of the questions i’ve asked and been ignorant to they’ve assumed were common knowledge, like the “live trailing drawdown” or whatever it was. And, in their defense i was ignorant to it and didn’t do my own due diligence.

But the “sim live” portion was in my opinion another strike as it says absolutely nowhere that when you get “funded” you’re going to still be trading sim. But, also it says nowhere on the site you’ll be trading a live account and they call it a “performance account”. So again, willful ignorance or..?

It does look as if the program is a copy/paste of Leeloo’s. All the way down to some of the verbiage on the FAQ. I had 0 prior experience with leeloo before i took the dive into Apex so it’s all new to me.

The funding rules, particularly the schedule of payouts is something they’ve added post me signing up. But can be countered with the fact they let you trade as many accounts as you want.

As many as account as you want = more subscription fees. They said this to me as well. No thanks.

To be honest, the more I've looked into and considered these programs it's very clear to me that they have pretty much zero interest in actually funding and paying a trader. If a trader is funded it's typically hard for him to get paid.

Just look at OneUp also. They advertise that you'll get 100% of the first 8K. Great. What they fail to mention is that you first need to generate a cushion of 5K and then it's 100% of the next 8K. So, in effect you need to generate 13K of profits to get your 8K. BIG DIFFERENCE.

Everything is there in the fine print, but they make sure not to mention that.

With Apex and LeeLoo they go out of their way to say that pretty much the only rule they have is the trailing drawdown rule and that you need to accept that one willingly before participating. I did. No problems. But they pay-out structure was something I didn't look into as I imagine it was simply an end of month pay-out. I had no idea it would take me 5 months to extract 10K of profits...

Reply With Quote
The following 4 users say Thank You to Howard Roark for this post:
 
(login for full post details)
  #23 (permalink)
 matteo83 
San Escobar
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Denali/Rythmic
Trading: Futures & options
 
Posts: 68 since Apr 2020
Thanks: 24 given, 37 received


Do we have any proof that this company ever paid a penny to their profitable traders?

Reply With Quote
 
(login for full post details)
  #24 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


matzero View Post
Do we have any proof that this company ever paid a penny to their profitable traders?

They launched one month ago.

If you reviewed the pay-out structure I wrote about earlier in the thread the answer is NO.

Considering the pay-out structure I'd say it's very risky to invest time/money with such a firm as they could easily be gone or just claim bankruptcy by the time you're able to withdraw your profits. 5 months to take out your initial 10K of profits is a dealbreaker for me personally.

Reply With Quote
The following user says Thank You to Howard Roark for this post:
 
(login for full post details)
  #25 (permalink)
 WoodyFox 
Columbus, Ohio
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
 
WoodyFox's Avatar
 
Posts: 352 since May 2016
Thanks: 153 given, 755 received

Darrell Martin owns ApexTraderFunding and also Apex Investing Institute. I believe he was banned from futures.io a few years ago? We have caught Apex peeps trolling for him since then. Please be careful!

Edit:


Reply With Quote
The following 3 users say Thank You to WoodyFox for this post:
 
(login for full post details)
  #26 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received

For transparency - I blew my evaluation account with Apex on Tuesday.

I actually hit my target on Tuesday with $9500 in my account after 7 trading days. At that point I had zero losing days and only 2 small losing trades over 7 days trading 5 contracts. I settled on a scalping method which worked really well for me with a 96 % win rate.

By then, I should have scaled down or just stopped trading, but I took another trade next which was a loss. Down $1250. I then doubled down with 10 contracts on the next trade and my account was liquidated for a $3.5K loss on that day, but since it's a trailing drawdown on unrealized profits, I was down $5K on the day from that peak.

So, the account balance was around + $6K when I got liquidated.

The obvious mistake I did was to double down on 10 contracts, but truth be told I became a bit reckless and careless after I learned about the withdrawal policy. If I knew I had $10K in sight by end of next month I would probably have acted wiser. If I thought Apex is a great deal I would sign up again or reset, but I'm done with these firms once and for all now. I jumped on the Apex offer as it seemed really great, but I missed the part about withdrawals.

The good thing to come out of this is that I've adopted a scalping approach which have been working really well for me as I had to adopt to the trailing drawdown. So I'll continue trading that in my live account.

Reply With Quote
The following 4 users say Thank You to Howard Roark for this post:
 
(login for full post details)
  #27 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 7,015 since Jan 2013
Thanks: 51,528 given, 23,331 received


Howard Roark View Post
The good thing to come out of this is that I've adopted a scalping approach which have been working really well for me as I had to adopt to the trailing drawdown. So I'll continue trading that in my live account.

So that's something good from the experience, and from the whole funding company experience from start to finish, if this new scalping method holds up for you.

I am by no means negative on these companies, but I've said a couple of times that one of the issues that might suggest staying away is "their rules and not my rules."

For instance, while this had a good outcome in terms of finding the new method, the fact that you had to alter your trading "to adapt to the trailing drawdown," might generally be a negative. That is, assuming your normal trading behavior is working for you, I would hesitate to suggest trying to squeeze yourself into someone else's ideas of how you should trade.

This could be thought of the other way too, because a lot of traders do need some discipline and some control of risk and loss.... in fact, just about everyone can use more of these. So the companies argue that they are teaching good trading practices, and I think often this is correct. But it's still someone else's rules, and having to change what is natural to you, and what you have devised in your trading (always assuming that it is working), can make it a bad fit and can be a cause for a rule fail.

Aside from that, glad you got something out of this, and that your mind is now settled on Apex and perhaps on all of them.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Reply With Quote
The following 3 users say Thank You to bobwest for this post:
 
(login for full post details)
  #28 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
Thanks: 109 given, 44 received


Howard Roark View Post
For transparency - I blew my evaluation account with Apex on Tuesday.

I actually hit my target on Tuesday with $9500 in my account after 7 trading days. At that point I had zero losing days and only 2 small losing trades over 7 days trading 5 contracts. I settled on a scalping method which worked really well for me with a 96 % win rate.

By then, I should have scaled down or just stopped trading, but I took another trade next which was a loss. Down $1250. I then doubled down with 10 contracts on the next trade and my account was liquidated for a $3.5K loss on that day, but since it's a trailing drawdown on unrealized profits, I was down $5K on the day from that peak.

So, the account balance was around + $6K when I got liquidated.

The obvious mistake I did was to double down on 10 contracts, but truth be told I became a bit reckless and careless after I learned about the withdrawal policy. If I knew I had $10K in sight by end of next month I would probably have acted wiser. If I thought Apex is a great deal I would sign up again or reset, but I'm done with these firms once and for all now. I jumped on the Apex offer as it seemed really great, but I missed the part about withdrawals.

The good thing to come out of this is that I've adopted a scalping approach which have been working really well for me as I had to adopt to the trailing drawdown. So I'll continue trading that in my live account.

That's not nice to hear from you, but the good thing is that you know what the problem was and you can work on it to make it better in the future.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
The following user says Thank You to MR79 for this post:
 
(login for full post details)
  #29 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


bobwest View Post
So that's something good from the experience, and from the whole funding company experience from start to finish, if this new scalping method holds up for you.

I am by no means negative on these companies, but I've said a couple of times that one of the issues that might suggest staying away is "their rules and not my rules."

For instance, while this had a good outcome in terms of finding the new method, the fact that you had to alter your trading "to adapt to the trailing drawdown," might generally be a negative. That is, assuming your normal trading behavior is working for you, I would hesitate to suggest trying to squeeze yourself into someone else's ideas of how you should trade.

This could be thought of the other way too, because a lot of traders do need some discipline and some control of risk and loss.... in fact, just about everyone can use more of these. So the companies argue that they are teaching good trading practices, and I think often this is correct. But it's still someone else's rules, and having to change what is natural to you, and what you have devised in your trading (always assuming that it is working), can make it a bad fit and can be a cause for a rule fail.

Aside from that, glad you got something out of this, and that your mind is now settled on Apex and perhaps on all of them.

Bob.

Thanks for the good words, Bob.

Regarding change in method - my main method up until now have not been scalping, but attempting to capture larger swings intraday. This means I can at times breakeven or lock in profits on a trade while letting it run. Sometimes I get a large profit - other times it reverses on me and stop me out for a small profit. Other times it can be a smaller unrealized profit that goes to a full stop.

The way Apex is set up - I could actually end up losing my account on a winning trade if I traded like that.

Let's say I trade 10 contracts. That's 500 $ per point gross on ES. Translated to the trailing drawdowwn - that's 10 ES points.

So, if I get in a trade that goes 12 points in my favour and I lock in 1 point to secure my risk - I can actually lose my account if that stop is hit. Even if the trade is a winner at 1 point. Does that make sense? To me it does not. But that's the rule.

So, the way I set up my Apex strategy was to simply exit on conservative limit orders which made sure I always got out at a high watermark P&L. I did this trading 5 contracts for the entire evaluation and had a win rate of 95% by the last day.

I'm trading this method in my real account now as it's been much more consistent for me than my prior 'main method'. Nothing changed in my analysis or view of the markets. I'm simply taking more secure profits instead of chasing bigger and more uncertain profits. I leave profits on the table all the time, but the upside is that I'm much more consistent on a daily basis.

Regarding these programs, yeah, I think I'm done now. I think they can have a purpose for new traders to practice more seriously than in a simulator and understand how trading is a process and learn to manage risk. But I don't consider these companies a serious alternative for getting funded.

Reply With Quote
The following 3 users say Thank You to Howard Roark for this post:
 
(login for full post details)
  #30 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received



MR79 View Post
That's not nice to hear from you, but the good thing is that you know what the problem was and you can work on it to make it better in the future.

MR79

No worries.

I had 3 days left of the evaluation, so I could easily have accepted that loss and not doubled down on that last trade. I think I just became extra careless after having learned that my 10K of profits would be 5 months away anyway. If I had a prospect of actually getting paid I think I would have been more disciplined.

Reply With Quote
The following user says Thank You to Howard Roark for this post:


futures io Trading Community Trading Reviews and Vendors > ApexTraderFunding.com experience and review


Last Updated on November 17, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts