Background and Goal
Over the past 10+ years I’ve had several futures accounts, both personal and funded from online services such as Apex Trader Funding, Bulenox, Leeloo Trading, and OneUp Trader. After my last personal account had a large drawdown, I decided to focus on trading others money through getting funded with one of the many trader funding companies. Below is a quick status of each funded trader program:
- Apex: I have 20 50K evaluation accounts that I hope to qualify next week. I had several PA accounts last month, but ended up taking a trade I knew I shouldn’t, which hit my drawdown on all accounts and then went immediately to my target.
- Bulenox: I had 3 PA accounts that were blown from the same error I describe in Apex (the Apex error was copied to these accounts).
- FlexyTrade: As of 5/1/2024 FlexyTrade is not accepting credit cards (they however do allow credit cards be used to purchase crypto, which is then used for payment) and will only accept crypto, so I will not be trading with them until they accept credit cards and have an established payout record. However, I previously had 20 accounts (when they did accept credit cards) and when my strategies in NinjaTrader moved to breakeven, I didn’t move my stop in Quantower, which ended up leading to all accounts getting blown.
- Leeloo: I currently have no accounts with Leeloo, but once I get a few more withdrawals I will open 10 accounts again. I had 10 PA accounts and then I made some updates to my Replikanto and forget to turn off one of the copiers, which lead to a continuous trade copy loop that ended up blowing those accounts (100% user error).
- Precision: I current have 25 50K evaluation accounts that I hope to qualify next week. This is the first time I’ve traded with this company. As of 5/1/2024 I have seen one confirmed withdrawal from another trader. Hopefully I will be able to get to the withdrawal phase in May.
Game Plan
In order to trade multiple prop firms simultaneously, I will be using my main computer to trade Apex and a dedicated VPS to trade Precision on NinjaTrader. Below is how I plan to trade each of the two companies:
- Apex: I will look to take 1-2 ES, 1-2 NQ, and 1 CL trades per day.
- Precision: I will look to take 1-2 ES and 1-2 NQ trades per day. The trades will be the same as Apex, with the exception that Precision only offers CME and not NYMEX, so the CL will not be traded with Precision.
Trading futures is extremely risk (see our full risk disclosure here), but my trade plan looks something like this:
- Trade times: 9:30 AM EST to 11:00 AM EST (or sooner based on market conditions) and avoid trading around major news events.
- Trade days: trade Monday – Friday, but do not trade holidays, or other days that don’t lend itself to “healthy” trade days (e.g., fed fund rate days and before / after major holidays such as Thanksgiving).
- Profit target: the goal is to take “good” trades based on various different setups, but I am going to target, on good days, a profit target of 200-400 per contract.
