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Apex is the only prop having Rithmic problems. They might have their own server - but can they pay for it and the upgrades required to keep it up and running? You don't have to be a rocket scientist to see the writing on the wall....
Can you help answer these questions from other members on NexusFi?
They were having Tradovate problems a few weeks ago too... again the only firm having these issues. And the issues were identical to the Rithmic ones - stops getting run, huge lag spikes, not being able to exit from a trade, placing an order and immediately being in a huge loss.
And the pattern was the same, they reset the accounts once, but they refused to afterwards. Because as traders, we are supposed to be ok with losing thousands whenever their platform isn't up to scratch.
Yes, Rithmic runs APEX Trader Funding on seperate servers for about 2 yrs now. The reason is simply to protect us but also other companies who share the paper trading server.
It's pretty obvious that we can pay for it, we would have been shut down by them if we wouldn't pay.
Don't really understand your statement.
As I mentioned earlier.... those issues are NOT on us, but we still have fixed all affected accounts in the favor of our customers.
That's the writing on the wall I see.
We work very closely with Rithmic management to get any issues resolved. But there is only so much we can do on our end.
We don't own their software, nor can we control it in any way.
I understand your frustration, we are frustrated by those issues as well.
We have an entire team to just communicate these issues with our vendors.
Not all reported issues can be blamed on Tradovate or Rithmic though.
Very often we find clear user errors when looking at the logs
We also see many traders using a computer which simply can not handle the volatility during times.
All kinds of different scenarios.
But we are always committed to help the best we can.
I am assuming you sent a ticket to the help desk the other day?
I'm talking about in trial phase. I had some videos of the guys early on actually encouraging newcomers to use MAX contracts trading. witha 250k account thats 27. you only need 15k to pass on to a PA. Last night I did a quick anal. on GC and set up a trade for 12 contracts. a few points above the days high to go short. by the time I got home, it had hit my order dropped, and I was $10k up (paper) by the time i got home. let that thing ride and the trailing stop took me out 2 hours later. will add, the order was still thousands in profit. I'm just trying to find the right ratio to set and forget a trade without the pullbacks taking me out too fast.
Once I pass, I'll go back to 5 contract trades in the PA account and try to do everything right so there's no reason to deny payment. If they deny after that then I'm out, won't be giving them any more money.
I'm sorry but this is an outright lie, you don't always help at all, and often send out generic responses. The email response was simply "no changes to the account will be made on this occasion", even though there were dozens, if not hundreds of posts across the internet about Tradovate and Rithmic outages.
I would love nothing more than to post the entire series of email responses on here, but that would let you know who the person is, and then you would block their accounts and take their money.
As for the computer not being able to handle it, another lie. Any computer built in the last 10-15 years should be able to handle trading software. Tradovate is web based, so any errors are at their end. I.e you place an order on the chart and it runs right through it, then that's a problem with Tradovate, not our PCs.
As for Ninjatrader, a cursory search brings up these specs, hardly an "elite gaming pc" level build:
Obviously having multiple charts and indicators can slow things down a bit, but I seriously doubt that the recent outages have been due to traders having PCs with less than 2Gb of RAM or a slower CPU than 1Ghz. I think that's 1990s speeds?
I note that you haven't answered any of my other points, such as why you feel the need for a NDA in your PA contract? Why you feel the need to film people trading? To make them do this activity unpaid? Why you feel the need to punish DCA for micros but allow up to 35 minis to be traded?
I thought it was fairly self explanatory. You are running a 90% off sale and offering a large account with an additional discount, so should have expected a large influx of new accounts. So should have paid for the extra server capacity in advance of this to avoid these issues.
And really, you should have released the updated rules before offering this deal, along with an adjustment period to allow people to adapt their strategies, rather than just denying payments en masse.
For those that have been paying attention, Apex has been running deep discounts since inception. It’s part of their marketing. The outrage over DCA and payment denials is also a bit ridiculous.
DCA that they are referring to is people adding to losing positions, in hope of a turnaround. Worst habit in trading. When in doubt, get out.
They aren’t closing your account for it either. Profits made are kept and you just need to trade another 10 days for next payout.
I’m a little over 6 months in with them without any problems, payouts like clockwork twice a month.
Matt discussed how he himself was denied payout last period due to DCA. He adjusted accordingly and was paid out 10 days later. Account wasn't closed, profits were kept.
My contention with any prop firm is to always sleep with one eye open, regardless who they are. Always withdraw profits. Use profits to fund private account. If and when the music stops you still have your own account.
I don't think you understand, it's not DCA that's the issue, it's how people do it.
I might be looking to buy the bottom of a trading range, it's very hard to pinpoint the exact entry, and I might want to split my order up 2 or 3 times to get a better position.
I.e I buy 3MNQ at 18100 and it pulls back to 18095 and I buy another 3, then it pulls back to 18090 and I buy my final 3. I'm now long with 9 micros so 0.9 minis, with an average entry price of 18095. If it pulls back much further it will hit my stop and I'll be out of the trade.
Compare this to someone why put 1 mini on at 18100, they would be in a lot more drawdown than I am. But to Apex, this is unacceptable, even though I pose less of a risk in this case.
My other issue is the way they implemented this enforcement - there was no grace period, to give traders a chance to adapt their strategy. Instead there was just blanket denials, and people were called cheaters and scammers. It's not a great way to do business.
I'm glad to hear that you are still getting paid ok. But I do wonder for how much longer, when will they decide they don't like your strategy? After all they have rules against trading the morning open, trading different sizes, trading different days, etc. I struggle to understand exactly what they do allow.
