shokunin 

Here is a chart of my MAE stats. https://ticks-in-flow.blogspot.com/2024/06/is-apex-really-looking-for-good-traders.html I trade ES. Most trades moved against me 1 tick. On average, a trade moved against me 7 ticks. The most a trade moved against me was 67 ticks, but this was on a day with Rithmic issues and I did not DCA on this trade. The next largest drawdown experienced was 36 ticks. I was on reduced size (1 lot) due to the increase volatility at the time.

So what do you do from here? Have Apex told you to trade another 10 days? Do you still have your account balance?

VirtualMark 

So what do you do from here? Have Apex told you to trade another 10 days? Do you still have your account balance?

Darrell (the CEO) is aware of my complaint, so my plan is to just wait until I get a response. Apex make a point of "always doing the right thing by their traders", so hopefully they will approve my payout after manual review.

If you refer to the email somebody else posted above, it seems Apex are allowing traders to keep the account balance and continue trading. If there are no rule breaks for the next 10 trading days, the trader is allowed to withdraw the standard capped amount only for the subsequent period ($2k on a $50k account). So any profits from the denied period have to remain in the account as buffer and cannot be withdrawn until month 4.

shokunin 

Here is a chart of my MAE stats. https://ticks-in-flow.blogspot.com/2024/06/is-apex-really-looking-for-good-traders.html I trade ES. Most trades moved against me 1 tick. On average, a trade moved against me 7 ticks. The most a trade moved against me was 67 ticks, but this was on a day with Rithmic issues and I did not DCA on this trade. The next largest drawdown experienced was 36 ticks. I was on reduced size (1 lot) due to the increase volatility at the time.

What was the reason they denied you for this? It looks like you followed the new DCA ruling

jlabtrades 

What was the reason they denied you for this? It looks like you followed the new DCA ruling

Apex put out videos stating there were no rules changes and no new rules; they were simply enforcing the existing rules. They went on to say traders could only add to a losing position once. They made it clear they weren't out to penalise legitimate traders, but didn't want "scammers" (their words) who Dollar Cost Average but with no other strategy - i.e. Dollar Cost Averaging itself should not be the strategy.

Contrary to what they said in their videos, they did change the rule from the original "No DCA" to "Only one execution in the red". This is a clear rule change as it has a completely different meaning.

I don't DCA (add to losers) but I will often scalp order flow while I am waiting for a higher timeframe position to play out. Each scalp has its own entry criteria and stop and typically lasts a few seconds. Based on the original rule, this would be acceptable. According to the video clarification, it would be allowed as I only have one additional scalp active at a time - so at no time have I added to a losing position more than once. But following this new rule change, I am now denied payouts for DCA.

Here is an example: https://ticks-in-flow.blogspot.com/2024/06/apex-trader-funding-journal-29may2024.html
Trade 16 is a long term position that lasted 5 hours. The thesis is clear - I'm expecting a break of support. I hold the trade even though the support line is tested multiple times. The trade is in profit over 50% of the time - it isn't like price is trending away from my original entry - it is just moving sideways while continuing to push against a weakening support line.
While I'm waiting, I make 12 independent scalps based on order flow. Most last a few seconds and most had only 0-3 ticks pullback.

To be clear, I don't have an issue with the DCA rule. I don't have an issue with only allowing 1 add. I don't even have an issue with just allowing 1 execution in red. My issue is that the videos said there were absolutely no rule changes - so I traded accordingly. Yet the rules were changed because 'no dca' was replaced with an execution limit. They are not the same.

shokunin 

Apex put out videos stating there were no rules changes and no new rules; they were simply enforcing the existing rules. They went on to say traders could only add to a losing position once. They made it clear they weren't out to penalise legitimate traders, but didn't want "scammers" (their words) who Dollar Cost Average but with no other strategy - i.e. Dollar Cost Averaging itself should not be the strategy. Contrary to what they said in their videos, they did change the rule from the original "No DCA" to "Only one execution in the red". This is a clear rule change as it has a completely different meaning. I don't DCA (add to losers) but I will often scalp order flow while I am waiting for a higher timeframe position to play out. Each scalp has its own entry criteria and stop and typically lasts a few seconds. Based on the original rule, this would be acceptable. According to the video clarification, it would be allowed as I only have one additional scalp active at a time - so at no time have I added to a losing position more than once. But following this new rule change, I am now denied payouts for DCA. Here is an example: https://ticks-in-flow.blogspot.com/2024/06/apex-trader-funding-journal-29may2024.html Trade 16 is a long term position that lasted 5 hours. The thesis is clear - I'm expecting a break of support. I hold the trade even though the support line is tested multiple times. The trade is in profit over 50% of the time - it isn't like price is trending away from my original entry - it is just moving sideways while continuing to push against a weakening support line. While I'm waiting, I make 12 independent scalps based on order flow. Most last a few seconds and most had only 0-3 ticks pullback. To be clear, I don't have an issue with the DCA rule. I don't have an issue with only allowing 1 add. I don't even have an issue with just allowing 1 execution in red. My issue is that the videos said there were absolutely no rule changes - so I traded accordingly. Yet the rules were changed because 'no dca' was replaced with an execution limit. They are not the same.

Lets be honest here, they don't want to have a partnership with consistently profitable traders. This is clear from how you trade, you are making money and clearly not adding into a losing position all day until your account is blown. You are not trying to "scam" them, just taking advantage of the fact that you can make money in a trading range while holding a position. If there is opportunity, why wouldn't you take it?

They are finding more and more ways to stop paying their customers, and forcing them to either change or to leave. If they change, chances are they won't make as much money, as their strategy will be new and untested, so Apex win. And if they leave, then Apex keep all their money and win again.

They claim that DCA can cause them to lose a lot of money, but that's impossible with the way their accounts are setup. Once you've passed the trailing threshold +$100, the accounts cannot go below, so there is no risk at all to them.

They claim they move people to live accounts, yet I've never seen or heard from anyone that's been moved to live. Plenty of people here claim to have had multiple payments, why aren't they on a live account?

As for a partnership, what sort of partnership is it when one holds the cards and can deny payout to the other?

This is from the Apex         channel, someone has posted a screenshot of an email they received. Mods have told them to follow the instructions.

Quoting 

1. Video Recording of Trading Sessions: Over the next three trading days, please record your trading sessions, showing: • The trades being executed • The person executing the trades • Narration of the trade entries, entry rules, initial stops, profit target, trailing, and management of the trades • This should be done by the legal listed owner of the account Note: The video only needs to be around 5-10 minutes long. Please start the video before taking a trade to capture the preparation, during the trade execution, and after the trade to explain the reasons behind your actions. 2. Additional Identification Information: • A government-issued photo ID • Proof of address verification 3. A written and video statement confirming: • The listed owner of the account is the trader • The trader is the only person with access and knowledge of the username and password to access the Apex account and systems

VirtualMark 

This is from the Apex         channel, someone has posted a screenshot of an email they received. Mods have told them to follow the instructions.

Watch this video:

These guys are staying up at night figuring out how to make life as difficult as possible for the trader. A trader's proprietary strategies are none of anyone's business unless they choose to share them. The number of alerts with the Apex Ponzi scheme should be enough for everyone to stay away from them. There are several very good prop firms with no bs rules and that have copy trading.

FundedTrader82 

So, I was in favor of Apex Trader Funding until the beginning of June things took a turn for me. I was denied payouts on the misnomer of a DCA label when that was not at all my strategy. There were times when I made an error and struggled to accept a loss, but corrected it, and this should not be preyed upon in funding. John put out over 4 hours of videos mocking half of their subscription base and calling them gamblers, not traders. They mentioned they could sue for previous payouts and threatened to close accounts and silence anyone who spoke up. They also threatened wire fraud for any disputes. Apex has some issues going on and they are bullying, intimidating, lying, threatening, and trying to silence their contractors. I have started a dispute through my bank and will be seeking my evaluation and pa fees back. There are other funding companies that are way better, and there is actually one that was in the works since February and just got released in May. I don't know if I can mention it here, but they look promising and is straight to a funded account. There are no crazy rules and they won't move the goal post. They are traders who hedge their payout exposure in the real market and their products before discount are equivalent to 3-5 blown evals/combines. They are also expert data analysts and use trade data aggregated from their other traders to make informed decisions about their own positions. They don't nickel and dime you (no commissions, fees, etc.) and make rules for you to fail. If I can mention this company, please let me know, because I would like to share my affiliate and help anyone who is seeking something better than the predatory funding companies that are currently out there.

There are definitely good companies out there. Perhaps nexusfi will allow a new thread focusing on GOOD experiences with prop firms.

FundedTrader82 

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I can't see your original post, but please say which companies you think are good. I think that's what we all want, experiences and recommendations of which of these firms we can trust.

phantomtrader 

There are several very good prop firms with no bs rules and that have copy trading.

Such as?