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80/20 is what they promote on their website at least.
Are you still trading with them?
Good points. I'm done looking, though. I still think my criticism of Apex is valid. E2T is a different ballgame. No rational trader would want their money locked up for 6 months when the competition allows for full withdrawal from day one.
No, traded for approx. 6 months, lost E2T funded on a wild day being reckless. At that time I had a broker's account too, so kind of wanted to trade one account only, and my shadow helped me fuck up, see..
Yes, they are basically waiting for a trader to get reckless, and almost everyone gets crazy and does stupid thing(s) in 6 months trading.
What concerns me more is that Apex/Leeloo, and similar shops might be selling our data, (through Rithmic) to big cats to feed their AI engines (for different purposes that won't go into detail), practice called payment for order flow. It does not matter if the orders and positions are in Sim environments.
This is what your intuition (or rather paranoia) might be telling you, so you've been asking around a lot how many traders have stayed funded and profitable and for how long. Most take the profits (100%, no spilt amount) and go... and might do the same several times at several shops.
Rob-da-shop and go that's healing for you. It needs a custom plan, just for that purpose, though. With Apex I think (depending on their rules) it can be done with 2 big trades, and not too perfect entries too, just catch two good trending days. One for evaluation and one when funded. Even if you need to try it for 3-4 times before succeeding.. do the math. Have you heard that simple things are hardest to think of and do?
Good, start automating some of your scalping setups. Go for longer shots (few days) at right time/place, day trading is exhausting and triggers stupid actions to release tension, real money is won by sitting not trading.
It's a child's game, intelligence is not needed, just stupid rules, smart setups, and some luck.
so my friend has qualified with APEX some time ago and the first 2750USD withdrawal was no problem.
But now she is waiting for the second withdrawal and sent a mail to support, because she did not receive it yet.
Not sure, if the issue is not on her side, but since I just finished my personal evaluation and would need to pay the 85 USD fee for data/license/etc today I am now a bit nervous
So would really be interested to hear, if anyone here received payments from APEX lately?
When it comes to the payout plan, at least for me that is not an issue, because I only trade a 50k with micros. In my evaluation I made 200 USD per day on average, 15 of 15 days I finished green.
IMHO most traders fail, because they simply use too much leverage. Those evaluations and funded accounts are paper cannons, crazy amount of contracts, titled "50k" yet I only have 2500 cushion, some offer only 2k. Sorry, but even trading one mini is already ultra risky, since 2% of 2500 is only 50 bucks (for your SL according to good risk management practice).
And yes, I feel the business model of most funding companies is usually centered around fees and not so much about funding successful traders and receiving their cut.
While it is cool, that retail does not have to pay commissions, one might wonder, why institutions would pay so much money, if they would not make a LOT more money by (ab)using the data. Latest development seems to indicate that since internalizers like Citadel handle the vast amount of retail orders, price discovery is seriously disrupted.
When it comes to futures, since most of trading is automated and I guess self learning AI is already an issue nowadays, i would not be surprised, if Rithmic data would be used to better understand retail behavior and to optimize their automation.
And to me it seems that you either have few rules but limits on payout - or more difficult rules and instant payout - as options. In both cases it is understandable, that funding companies have to protect themselves to be profitable. They can not survive, if they allow lucky traders to cause them massive losses.
In that sense the E2T approach might be more straightforward. The daily loss limit combined with the consistency rule will over 15 days eliminate most unskilled/undisciplined traders. So they can pay out the skilled ones immediately. While others lure in traders with the easy rules, while prolonging payouts so most of the unskilled/undisciplined traders will not make it to the point, where they can withdraw big time.
So far we both like the experience with APEX, my friend even has now 3 performance funded accounts. But payouts are naturally the most important factor.
@ ApexTraderFunding
Thanks for the quick reply!
I have talked to my friend and she told me she received a call now and she should receive the payment soon. Thanks for taking care!
