Apex Trader Funding Journal - 24May2024 - US Session

Following the strong Initiative Drive on the hour, the thesis is to scalp long expecting higher prices.  If price moves into the DCA zone, add to the position.  If price breaks the Initiative Drive (the horizontal orange line), this could be considered a distribution zone and therefore consider a short bias.

These scalps are expecting breakouts so are bought near the highs, hence the larger than usual MAE on a scalp trade.

Trade 8 moved against the entry more than expected, and price moved to a FVG (the lowest point).  A sell iceberg appeared at a location where buying is expected.  This indicates possible distribution.  Price broke through the iceberg and retested the original breakdown.  A stop is now placed 1 tick below the iceberg order and the trade is exited when Order Flow shows selling.

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.