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ApexTraderFunding.com experience and review


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ApexTraderFunding.com experience and review

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  #31 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
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Howard Roark View Post
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.

Yes, it is interesting what can happen to oneself when one is done with an "issue".
In some points one gets careless, which can cause problems. Shouldn't happen in trading as well as in other areas of life, but it happens all the time.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
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  #32 (permalink)
 KahunaDog 
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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.

I trade different styles on combines... due to the drawdown rules

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