I wanted to do a test yesterday. I tried to pass a new APEX Trader Funding $50K Evaluation account in one day.
I did it!
To plan this, I used my APEX tracking spreadsheet....
With a $50k account, if I traded 10 NQ contracts ($20 per point), 15 points would hit my profit target; HOWEVER, -12.50 points would also blow the account. Note that -12.50 point include unrealized gains so you can't let any profits slip away much...especially if you have the maximum contracts in play.
These were the trades I took:
NOTE: TImes are U.S. Mountain time so 2-hours behind U.S. Eastern time
As my profit started approaching my target, I started reducing the number of contracts so I wouldn't worry about the draw down as much.
This is how the profit/losses progressed for each trade:
This morning, I logged into my APEX Trader Funding account and saw two new menu items.... Signatures and PA Charts!
I signed the agreement, paid for a lifetime PA account ($140) and downloaded my certificate that I passed:
The plan going forward is to massively scale back of course. I'll trade 1 NQ or 3-5 MNQ contracts. Once I reach a $200-$300/day goal, I'll stop trading.
The way the PA accounts work, when the trailing draw down reaches $100 above the starting capital (ie.. $50,100) the trail stops. The idea is to build up a nice buffer but still take cash out of the account.
I'd like to maintain more than a $2500 buffer so my plan is to build the account up to the point I can withdraw cash and still have a balance above $53500 or $54000. I need to withdraw a minimum of $500 per month for that month to count as one of the three required before withdrawal limits are removed.
Anyway...I'll start trading this PA account on Monday!
I did it!
To plan this, I used my APEX tracking spreadsheet....
With a $50k account, if I traded 10 NQ contracts ($20 per point), 15 points would hit my profit target; HOWEVER, -12.50 points would also blow the account. Note that -12.50 point include unrealized gains so you can't let any profits slip away much...especially if you have the maximum contracts in play.
These were the trades I took:
NOTE: TImes are U.S. Mountain time so 2-hours behind U.S. Eastern time
As my profit started approaching my target, I started reducing the number of contracts so I wouldn't worry about the draw down as much.
This is how the profit/losses progressed for each trade:
This morning, I logged into my APEX Trader Funding account and saw two new menu items.... Signatures and PA Charts!
I signed the agreement, paid for a lifetime PA account ($140) and downloaded my certificate that I passed:
The plan going forward is to massively scale back of course. I'll trade 1 NQ or 3-5 MNQ contracts. Once I reach a $200-$300/day goal, I'll stop trading.
The way the PA accounts work, when the trailing draw down reaches $100 above the starting capital (ie.. $50,100) the trail stops. The idea is to build up a nice buffer but still take cash out of the account.
I'd like to maintain more than a $2500 buffer so my plan is to build the account up to the point I can withdraw cash and still have a balance above $53500 or $54000. I need to withdraw a minimum of $500 per month for that month to count as one of the three required before withdrawal limits are removed.
Anyway...I'll start trading this PA account on Monday!
