Apex Trader Funding Journal - 11Jun2024

An easy day to read.  Based on previous day's price action and consolidation during the Asian session, I'm confident enough to enter a short position before the London open.  The climb prior to my entry is likely shorts exiting the Asian session and de-risking prior to the London open.  However, in my assessment there is 'unfinished business below' with probable Sell stops that have not yet been liquidated.

Entry 1 is based on evidence of an iceberg sell order at a point where the natural market rhythm should be positive.

Entry 2 is at the same price level as the first entry so does not count as DCA.  Price broke the iceberg order with a sweep and then there was evidence of continued offering at the previous iceberg level.  Due to the way the Rithmic simulated queue matching system operates, I probably wouldn't have got filled in the sweep above the iceberg.

Entry 3 is a 3t scalp based on order flow.  Price broke above the previous iceberg 1t, and then the offer was increased.  This adds to a losing trade once, which is allowable under Apex rules.  I'm sure to exit this scalp before entering any further trades.

Entry 4 is a 3t scalp based on order flow.  This add to a losing trade once, which is allowable under Apex rules.  I'm taking a 50% position size to reduce risk as there may be a push during the London open to find liquidity above 5370, although prior price action indicates this is unlikely.

After Entry 4 I stop trading Apex as I've met my planned profit target for the day.

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.