My Trading Quest - Can I be Profitable in 90 Days?

DAY 37 + 38 – Apex Sniper Trading Bootcamp – Funded Trading Companies Review …

This weekend is a long weekend in the US …

Actions I took:

  • Reviewed by 10 days of Sim Trading
  • Reviewed a number of Trading Companies who offer funding
  • Continued Market Replay practice
Sim Trade Results Overview

OverFriday.png


10 days of Sim Trading is really not long enough to test and prove much. But I consider the results to be good enough for me to move to the next stage of the challenge.

As readers may know from my early post, I am already funded by Topstep Trader. I used my own scalping system to trade the 30 Year Bonds.

This challenge is totally separate from what I do in the TST Funded account.

I reviewed a number of Trading Companies who offer funding if you can pass their testing.

A lot of these companies have so many rules that it seems they really don’t want you to pass. Since the last time I looked at these companies I have noticed a number of the prices and rules have changed.

Some of the Companies I have heard complaints about the traders not getting paid or paid slowly. So I avoided them. I have no proof of any of the stories but have chosen to play safe and avoid.

I am very happy with Topstep Trader but wanted to try another company.

The Company I chose is Leeloo Trading https://www.leelootrading.com/

Basically they only have 3 Rules:

  • Don’t exceed your daily Loss Limit
  • Don’t reach your max drawdown
  • Reach your profit target while illustrating consistency
They base the funding on the number of contracts you can trade. Other companies have a dollar amount you choose to test for.

An example would be TST who have a $50,000 Test option which costs $165 per month

  • Profit Target $3,000 per stage (2 stages)
  • Maximum contract size = 5
  • Daily Loss Limit = $1,000
  • Weekly Loss Limit = $1,000
  • Trailing Max DD = $2,000
  • Other rules including time of day you can trade, etc
  • If you are funded then the split is 80:20
  • And you keep 100% of the first $5,000
  • You can take as long as you want to reach the target as long as you don’t break any of the rules.
  • The minimum time to pass would be 5 days for stage 1 and 10 days for stage 2
This would compare to the Leeloo Account Cost $170 per month
  • Profit Target $3,000
  • Up to 8 contracts
  • $2,500 Max Drawdown based from the High Water Mark
  • No Daily Loss Limit
  • No other rules
  • If you are funded then the split is 80:20
  • And you keep 100% of the first $8,000
  • You can take as long as you want to reach the target as long as you don’t break the DD rule.
  • The minimum time to pass would be 10 days
Apex Investing has chosen Leeloo Trading as a recommended company and currently offer a 15% discount for the first month

So, you can see from the points above, there are a number of good reasons to try Leeloo Trading.

I will explain the $2,500 Max Drawdown in a coming post.


Over the next couple of days I will decide when I will start the Leeloo Test. At this time I believe Tuesday will be start day. I don’t want to start on a slow or low volume day (Day after a long weekend)!



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 
Rising Trailing Max Drawdown Explained

With the Leeloo evaluation, it is critical to understand the "Rising Trailing Max Drawdown"

The (Rising) Trailing Max Drawdown is quantified and termed the Limited Trailing Minimum Account Balance (LTMAB). The max drawdown amount assigned to your particular Evaluation account (example- $2500 for 8 contract account), trails your OPEN equity, intra-trade. (NOT closed profit). It will NEVER stop trailing the highest UNREALIZED profit point of your account throughout the ENTIRE Evaluation.

An Example using the 8 contracts- $2,500 LTMAB):

When you start you can only lose $2500. Assume account balance of $50,000

At this time the account will be closed if the account balance is 50,000 - 2,500 = $47,500

If the first trade goes into profit during the trade eg +$100 is the highest amount in profit, even if the trade ends less or even with a loss. Let us assume you made a $50 profit.

At this point your account balance = 50,000 + 50 = 50,050 and your LTMAB = 50,000 + 100 = 50,100 minus your 2500 = $47,600.

It is always based on the intra-trade high.

Once you pass the evaluation and become funded they stop trailing the DD at just over your initial funded account amount.

You can check this amount at any time on the Rithmic dashboard.

Any questions please let me know.

Cheers
Garry
 
An example would be TST who have a $50,000 Test option which costs $165 per month

  • Profit Target $3,000 per stage (2 stages)
  • Maximum contract size = 5
This would compare to the Leeloo Account Cost $170 per month
  • Profit Target $3,000
  • Up to 8 contracts

It doesn't work that way in real life.
 
Hi Overnight,

What are you trying to say?

We are talking about the way these funding companies work not your own account.

You still need good money management to pass both.

Please explain the point you are trying to make

Thanks
Garry
 
DAY 40 – Apex Sniper Trading Bootcamp – 1st Day of Funding evaluation …

Today is the first day of the Leeloo Funding Evaluation …

Actions I took:

  • Listened to the trading room for the first 30 mins of the US Open
  • Signed up with Leeloo for the evaluation and set it all up
Day 1 of Funding Evaluation

I set up the connections required for Leeloo. It was easy and I was all setup in under 20 minutes.

The setup uses Ninjatrader with Rithmic Trader Pro.

The starting balance was $50,000 with the DD limit of $47,500.

I placed 6 trades:

  • 3 NQ trades – 3 winners (+$135.00)
  • 3 ES trades – 2 winners and 1 loss (+135.00)
Total Profit $270.00.

Trade 1 – NQ Long Divergence Trade (Profit +$45.00)

The trade was valid.

NQT1-2.png



Trade 2 – Valid NQ Short DTX and Enhanced Trade (Profit +$45.00)

NQT2-2.png



Trade 3 – NQ Long DTX Trade (Profit +$45.00)

NQT3-1.png


I did not trade ES as well as I did NQ!

Trade 1 – Valid ES Short Enhanced + Trend Trade (Loss -$5.00)

The trade was a valid trade but I managed it poorly. This was my first trade and I set the profit on the Dom at 10 ticks when it should have been 8.

The trade hit my proper target and then retraced back to the entry and kept bouncing around the entry price. It was like pulling teeth!!! Slooooow. So I moved the stop to BE and was stopped out. As you can see the trade then went to profit +.

EST1-2.png


ES Trades 2 and 3

Trade 2 Valid Enhanced LongTrade Profit + $45.00

Again the slow price action affected my judgement and I moved the profit target closer.

Trade 3 Valid Trend ShortTrade Profit + $95.00


EST2T3T4.png



The following is the trades from the NT7 Summary Panel


2020-05-27_0201.png



Potential trades for Friday – ES and NQ


ES.png


NQ.png



Rithmic Overview

Rith.png



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 
eRESULTS said:
Rising Trailing Max Drawdown Explained

With the Leeloo evaluation, it is critical to understand the "Rising Trailing Max Drawdown"

The (Rising) Trailing Max Drawdown is quantified and termed the Limited Trailing Minimum Account Balance (LTMAB). The max drawdown amount assigned to your particular Evaluation account (example- $2500 for 8 contract account), trails your OPEN equity, intra-trade. (NOT closed profit). It will NEVER stop trailing the highest UNREALIZED profit point of your account throughout the ENTIRE Evaluation.

An Example using the 8 contracts- $2,500 LTMAB):

When you start you can only lose $2500. Assume account balance of $50,000

At this time the account will be closed if the account balance is 50,000 - 2,500 = $47,500

If the first trade goes into profit during the trade eg +$100 is the highest amount in profit, even if the trade ends less or even with a loss. Let us assume you made a $50 profit.

At this point your account balance = 50,000 + 50 = 50,050 and your LTMAB = 50,000 + 100 = 50,100 minus your 2500 = $47,600.

It is always based on the intra-trade high.

Once you pass the evaluation and become funded they stop trailing the DD at just over your initial funded account amount.

You can check this amount at any time on the Rithmic dashboard.

Any questions please let me know.

Cheers
Garry
More...
Not clear on the definition of “intra-trade”.
 
eRESULTS said:
DAY 30 – Apex Sniper Trading Bootcamp – Daily Sim Review …

Today is day four of the Sim Trading …

Actions I took:

  • Listened to the trading room for the first 90 mins of the US Open
  • Day four of Sim Trading
  • Reviewed the potential trades for Thursday for ES and NQ
Day Four of Sim Trading

NQ was still a fast market today so I only traded the ES.

I live sim traded 6 trades, 1 ES (Loss) and 5 ES (winners). Total Profit $245.

The running P/L for 4 days of Sim is $367.50

Trade 1 ES Short NTX – Trend trade (Loss – $230)

2020-05-16_0217ES1.png



Trade 2 ES Long Enhanced and DTX Trade (Profit + $95)

The DTX trade is simply:

  • Reversal Bar
  • Box with blue square in it. On top of bar if short and bottom of bar for long (TX)
  • With another box and blue square within 5 ticks and up to 30 bars from the most recent (double)
2020-05-16_0229_EST2.png


Trade 3 ES Long OD Divergence Trade (Profit + $95)

2020-05-16_0240EST3.png


Trade 4 Long ES OD Divergence Trade (Profit + $95)

4a.png


Trade 5 OD Divergence Long Trade (Profit + $95)

ES-T5.png


Trade 6 Enhanced Long Trade (Profit + $95)

ES-6.png


The following is the trades from the NT7 Summary Panel

NinjaResults.png


Potential trades for Thursday – ES and NQ

The markets were moving very quick again. I did not trade NQ.

In my list of potential trades for the day, I have not listed a number of trades as I would consider them not to be realistic trades.

ES-Results-1.png

NQ-Results.png



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
More...
See image for my question.
 

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Hi Ouch1963,

The Double TX must be within 30 bars back from the second TX and within 5 ticks of the second TX.

If that doesn't explain this then ask me again and I will do post a pic

Cheers
Garry
 
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