There are no consistency rules for evaluations. But, PA and Prop accounts do have Consistency Rules that can be seen below.
Note: For PA and Live Funded Prop Accounts, we are not looking for gamblers, lucky traders, windfall traders, or those looking to "work the system". We are not looking to fund and payout traders looking to implement "withdrawal strategies" to "work the system" to meet minimum days required, or those who attempt to scam or defraud the Company by any means including those listed below and rules and guidelines of the PA / Prop Account. We are looking for traders with a trading system, not a withdrawal system or get rich quick system that puts company funds at unnecessary risk.
Trader Funding is a partnership and we are looking to partner with reputable traders that are also looking to trade a consistent plan with consistent size and can steadily grow their account. Trader funding and paid performance is designed to be a long-term relationship of consistency and steady growth for both parties.
What we ARE Looking for in PA and Prop Accounts:
Traders with a set, disciplined, consistent Trading System. A trading system consist of exact set rules for entires, initial stops, take profits, trailing methods, and exits. Traders that have mastered this system and have discipline and consistency and follow a day to day trading plan. Not erratic, not shooting for lucky windfall trades and putting Apex funds at risk without a system and good risk management behind it. Not changing and hopping from strategy to strategy with no direction.
Traders that are consistent with trading system, size, days traded and risk management.
Trader Funding is a partnership, we are looking for traders who trade a consistent plan with consistent size and can steadily grow their account. Not traders that have massive huge days, and then barely trade or attempt to "flip contracts" just to rack up days and get to a withdrawal. This is a "withdrawal strategy" not a trading strategy. This is why we also have the 30% profit rule and the 20% flipping rule as you will see more below.
Trader understands Company is seeking "to fund and payout" traders who follow a consistent trading plan in size, stops, and targets. This means not trading max or larger than usual contracts on one trade, seeking “lucky windfalls” while trading micros the rest of the time, or flipping contracts just to show a "trading day", not constantly changing sizes, not dollar cost averaging when market is going against them, not doing high-frequency trading, and being consistent in the trading plan, including your entries, stops, and take profits. Trader funding and paid performance is designed to be a long-term relationship of consistency and steady growth for both parties. Company is seeking to fund traders, not gamblers. At the time of withdrawal request, the balance in the account can not consist of more than 30% of profit balance being from one single trading day. This is in place to discourage that type of erratic, windfall, high risk, all in style trading and encourage long term consistency. If the profit balance is more than 30% from a single trading day, no big deal, very simple, just continue trading consistently with your day to day trading plan until that % is no longer the case and request on the next available payout date.
NOTE: The 30% Rule is NOT a hard and fast rule, blanket across the board. This is meant to combat schemes, get rich quick withdrawal strategies, erratic and lucky windfall trading attempts, and to encourage consistency of following a system . This is not in place to hinder a trader with a consistent trading history that had a large day and caught a runner while following their system. A trader who is consistent in following a strategy will often catch runners and have large days. We desire and encourage this. This rule is in place for windfall traders and flippers, no for consistent traders that caught a runner. Consistent traders that follow exact, set rules of entry and trail are far more likely to catch runners and have big days as opposed to erratic windfall traders that hop from one to other trying for a lucky windfall. There is a big difference. We encourage and desire consistent traders and big days, following a system. We do not desire windfall trader or flippers, the 30% rule is in place for this type of trading. See video below for examples.
Company is not looking for traders to take big risks with company funds in order to shoot for a lucky huge day, then to stop trading or flip just to ride out trading days for a withdrawal. This is not the purpose of Trader Funding nor a partnership we will to pursue. Putting company funds at risk in order to attain potential lucky windfalls is a risk tolerance not acceptable to Apex. Some trader blow through many accounts just in a attempt to risk it all and "win big" then run. Purposely and irresponsibly blowing multiple company accounts in an attempt for a " lottery style" lucky windfall in not the purpose or intent of trader funding. You would not want your funds traded this way either, if you were funding a trader yourself, very simple.
We are looking for consistent and disciplined traders that have an actual trade system, not a " bet it all and hope to be lucky" system. Traders shall have a defined strategy or system that has set rules for entry, stops, targets, trailing and use these rules consistently and with discipline. Trading a normal day to day system that is set, tracked and explainable upon request. News trading, chasing the market, taking advantage of breakouts with no system, morning open, any attempt for "windfalls" without following a strict, set, systematic trading strategy that is traded normal day to day in the account is prohibited and any amounts accumulated during prohibited times or trades will be removed the account as outline in the PA Consistency section and video series found on the Company website FAQ section.
Traders that go all in looking for windfall trades or to rack up funds quickly and have a history of constantly blowing Company accounts and funds may be restricted in the future of having more PA accounts or limited to a number of PA accounts until steady consistency is shown. Traders going for constant windfalls and "blowing" PA accounts as opposed to following disciplined and steady tradign systems do not create a "relationship of consistency and steady growth for both parties" as stated above.
Company only seeks traders that are using an actual consistent trading system or strategy. Not a "withdrawal strategy", windfall strategy, news strategy, group strategy or any other strategy that attempts to put Company funds at risk outside of a consistent day to day proven strategy. Having large trading day / days, then only "flipping" contracts in an attempt to meet the minimum required days to request a withdrawal is prohibited and will result in a denial of payout request until consistency is shown. A trader may not have more than 20% of trading days that could be defined as flipping of any kind. Company is seeking consistent, day to day trading systems, not erratic trading, jumping from system to system, or working the system to reach a payout request date and just flipping contracts or placing a trade " just to show a trade day".
PA and Prop Accounts must be traded by the actual individual listed on the account and PA Contract not by any other party or person.
Automation: AI, Auto Bots, Algos, Fully Automated Trading Bots or software, HFT's or any other automated trading is not permitted on the PA or Prop Accounts. The use of "Semi Automated" software may be used with full trader monitoring and presence at all times. Meaning the trader must be present, watching the trades, watching and managing the entries and settings on a semi automated software that aids in the placement of a trade based on a set of rules that the trader is manually and physically monitoring and adjusting the software for market moves, longs, shorts, pausing, news awareness, market conditions etc. Fully understanding the system rules, entries, stops, take profits, trails, and manually adjusting for these as monitoring each and the market in general. The semi automation is just there to aid in the speed of entry, not in any way to be an automated trade system. For example Markers Plus for Ninjatrader 8. Any type of hands off, set and forget, set and walk away, trading continuous all day and night, any type of full automated trading bot or software, algo, HFT, system, any other type of automation like this is strictly prohibited and will result in closure of PA or Prop account and forfeiture of all funds and balances.
News Trading: News trading in any way, shape or form, of any kind, directional or straddles, strangles, riding the initial news "burst" , getting in right before or after news to ride a potential wave is strictly prohibited. Traders may only trade their normal day to day system during news times and enter based on standard entry rules as used each and every other normal trading day, This includes all news Trading strategy or system, or news trades disguised as normal day to day strategy or system trading. Going for a big windfalls, lucky trades, news trades, straddles, strangles, risking entire account, flipping contracts, blowing through multiple PA account in short time seeking big lucky windfall, using a withdrawal strategy, or racking up number of days by flipping, or any other trading that does not specifically meet the guidelines above regarding a consistent trading plan are in direct violation of the PA Contract and are disqualified trades / trading days which may be removed from your PA Balance. Trader may never be long in one account and short in another account at the same time. This applies to your own personal accounts or in conjunction with other traders. Any group or partner schemes will result in complete closure and forfeiture of both parties accounts and banning from the Company website, tools and programs.
Trader agrees to follow the Company Code of Conduct as outlined in the FAQ section and to treat all staff, contractors, other traders, and third parties with respect and professionalism. As well as to maintain and conduct themselves and the Company in a professional and positive manner at all times including groups, Social media, Trade Rooms and any other environment. If Trader cancels accidentally or intentionally, Trader understands there is no way to reactivate the account for any reason and will have to start a new evaluation account
(WARNING: APEX has changed the 4:59pm EST rule. We will ATTEMPT to cancel open positions and pending orders attached to a position. You must STILL cancel orders that are not attached to a position or else they WILL remain and liquidate the account. Markets that require to be closed earlier are not affected by that rule change and must still be canceled manually on every trader's end.)
But traders still need to make sure all orders, trades, limit orders of any kind are closed.
If Apex is not able to close a trade and it is held past the close this can disqualify the account. As example would be trading a contract that is expiring that day and it unable to be closed. It is the traders responsibility to trade active contracts, roll contracts and charts at the proper time and be aware of rollover dates and not trade contracts expiring that day.
We have very generous consistency guidelines in evaluations. However, it would serve you well to have a trading plan. Trading 1 contract, then 4, then all in, is not a good way to establish consistency. Being consistent in your trading will help you be successful in the long term. Traders who randomly change sizes, go all in, or try to "get lucky," do not have the type of traits a trader needs.
Note: We are looking only for traders in PAs who trade a consistent plan with consistent size and can steadily grow their account.
IMPORTANT INFORMATION REGARDING PA / PROP TRADING RULES AND CONSISTENCY- MUST WATCH THESE IN ORDER AND ENTIRETY as they are a series:
PA TRADING RULES AND CONSISTENCY- PA CONTRACT REQUIREMENTS:
QUALIFIED AND NON QUALIFIED PA ACCOUNT TRADING AND TRADE PLANS:
