Apex Trader Funding Journal - 03Jun2024

I don't have a clear daily bias, so I plan to trade based on price action after the London open.

Trades 1,2,3,4 are scalps based on order flow while I assess the market.

Trade 5 I assess that there is little buying at the low, and price is likely to continue lower, so I enter a short expecting another leg down.  However, price moves against me.  I'm still confident in my analysis of price action, so I hold the short.

Trade 6 is a scalp, with an exit at the high of the previous consolidation block.  As Trade 5 is in a losing position, I want to ensure my scalps exit at predictable places to minimise risk.  I am allowed to add to a losing trade once, as per Apex rules.  I make sure to exit this scalp before taking any more scalps to avoid adding more than once.

Trade 7 is a scalp, entry is protected by the previous consolidation to the left.  Price breaks through the consolidation block and I am now no longer confident in my short thesis from trade 5.  While in trade 7, I see price breaks the double top and although price falls back, there is little aggressive selling which is unusual.  I now plan to exit all shorts where appropriate.  Trade 7 is exited at a retest of the larger consolidation range (not marked) but I hold Trade 5 in case it manages to re-enter the range.  Stop for trade 5 is now at the last high, but I will likely manually exit before then if it looks like the retest is holding.

Price does re-enter the consolidation range and I exit the trade at the lower horizontal line. I expect there to be buyers here as this is where previous shorts (like myself) would have been trapped.

Green lines indicate winning trades.  Red lines indicate losing trades.

Trade: The trade number on this day.

DCA: Dollar Cost Average - This increases each time a trade is added to a losing trade.  As per Apex rules, this should never be greater than 1.

AIP: Add In Profit - This increases each time a trade is added to a winning trade.  This can be unlimited.

Entry: Time in UTC.

Exit: Time in UTC.

Size: The number of ES contracts traded.

Direction: Long or Short.

MAE: Maximum Adverse Excursion.  This is the maximum number of ticks the trade moved against me during the duration of the trade.  As per Apex rules, this should average less than 4 (risk) to 1 (reward).  Apex have stated that this is not a hard rule providing risk is sensibly managed.

TC: Ticks Captured.  The number of ticks captured by the trade.  A negative number indicates a loss.  To calculate the profit, multiple TC by Size.