Apex Trader Funding Journal - 06Jun2024

I don't have a bias today so the plan is to watch order flow at the London Open and work out which direction is more likely to break.  I've marked two lines on the chart.  My analysis shows the upper resistance was weaker and the iceberg had completed, but price didn't have a chance to break through.  The lower line was stronger and the iceberg had not yet filled.  Therefore, my thesis is that price would break the higher line on the next rotation.

Trade 1 is based on my assumption that the prior iceberg would hold for another attempt.

Trade 2 is based on the assumption that the break below the iceberg is due to the iceberg blocking natural flow, and therefore price would re-establish the prior consolidation.

Trade 3 is adding to winning trade 2 as soon as price re-enters the consolidation range.

The initial thesis was that the upper range would break, but bullish price action was weakening so I exited both trades early (look left to see the upper consolidation and breakdown area at the top of the range at 5367.00).  As it happened, price did break the upper level. 

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.