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Get funded firms 2023/2024 - Any recommendations or words of warning?
I'll stay with the prop $ until funding personal accounts with those profits makes more sense. I'm in no rush to find the exit, it's only been the last 4 months that I've finally stabilized my trading as a real business. So I'm working against quarterly goals for 2024, and personal funding isn't even in the list at this time. That could change if conditions change, but I've learned that the slower I change, the more profitable I become.
Personally I plan on staying with them forever because over the years I've seen that my setups work for a bunch of months, and then go on a losing streak to blow up the account.
So what I do is run my various setups across different prop accounts at the same time. The setups that are working this month, I'll scale up to copy trade to multiple accounts. Withdraw payouts that pay for the whole operation, and then when those accounts inevitably are blown in a couple months, there's already other setups that have now started working.
Any strategy w/ filters, no matter how simple, can work for a few months before it blows an account. For example, even something as simple EMA cross over during the first hour of the day can be consistently profitable for a few months before going on a losing streak.
Apex says they paid out $25million in March, across 10,872 payout requests. Apex has a public page here showing the payouts: https://atf.com/payouts.html?p=1
So if they paid out $25million, how much did they collect in fees?
They've been doing the straight to PA accounts recently, so let's estimate 20 Apex 50k accounts eval + PA fee is about 4k per user. So they would have needed over 6000 new signs maxing the 20 accounts to breakeven.
Of course it's not only new sign ups, guessing more than half that number is from recurring customers that blown their accounts and want to try again (I've seen discord screenshots where some people are up to their 300th Apex account based on the numbering.)
So I think all the numbers do add up and is believable.
I think the 1 day to pass has created a surge of income for them... and doesn't really increase the risk on the companies side as just a fraction of people who get funded will ever get a payout let alone multiple payouts
Depends on how and what you trade. In general you will need enough in the personal account for
1. Initial day margin ($50-$1000 depending on instrument and broker)
2. Risk % per trade
3. Cushion left after bad trades
So I personally use Tradovate and trade NQ. So my initial day margin is $1000. I like to risk $500-$1500 per trade. And I like to risk at most half my account (when in a small account). So for me I start personal trading with the following
1. Margin: $1000 per contract
2. Risk: $500-$1500 per contract
3. Cushion: $1000-$2000 per contract
... = $2500 - $4500 to trade 1 NQ contract
And right now I'm continuing to trade in the prop firms to hone my trading in a lower risk environment, and adding payouts to my personal account, so I have a bigger cushion and take more trades. I don't ever plan to close my funded accounts unless I'm paying some monthly fee (none of mine are, expect for payout % share) or there is a payout cap (some do have this around $50k per account)
