Managing Multiple Apex Trader Funding Accounts with Copy Trading

Managing Multiple Apex Trader Funding Accounts

Handling 8 Apex Trader Funding Accounts and Understanding Activation Fees and Copy Trades

Today, I want to share my experience managing eight $50,000 Apex Trader Funding accounts. Additionally, I'll discuss activation fees and copy trading, addressing the questions and comments many of you had about my opinions and approach.

In this article, I'll provide a detailed overview of these concepts. Towards the end, you'll find a summary that encapsulates my thoughts on these matters. I encourage you to read through this entire article to gain a comprehensive understanding.

Out of the eight accounts, seven are evaluations, while one is a Performance Account (PA).

Progress Towards First Payout and Evaluation Account Targets

I'm currently working towards my first payout, and things are looking promising. I'm pleased to report that I've successfully met the $3,000 profit target on my first seven evaluation accounts, which is a significant achievement. It's one less thing to worry about as I navigate these trading accounts, reducing the stress on my shoulders.

On October 3rd, during the New York session, I hit the $3,000 profit target. I shared my trade idea on Twitter and Trading View, followed my strategy diligently, and was able to reach my profit goal. It was a fantastic day, and I'm grateful for my performance.

Regarding my Performance Account (PA), I'm also pleased with how things are progressing. On the 3rd, I closed the day with a profit of just over $2,000. Today, on the 4th, my balance stands at $52,623.96, and I've exceeded $2,600 in profit. This achievement means that the trailing drawdown will no longer impact my unrealized gains, and I've met one of the payout requirements, which is reaching $2,600.

The second the requirement is to complete 10 trading days and then make the payout request between October 15th and 20th. If I maintain my consistent performance with $200 base hits, I should be well on track to receive the payout. We're taking it one step at a time.

As for the other seven evaluation accounts, I only need two more trading days. By Friday, October 6th, I'll have met all the necessary requirements to convert them into Performance Accounts. Over the weekend, I plan to activate them.

Sleep and Psychological Well-being in Trading

Let's delve into the psychological aspect of my trading journey. On the third, I had only managed a mere two hours of sleep, which was quite challenging. Surprisingly, I found myself mentally alert and ready to tackle the trading day. It's almost as if my body interpreted those two hours as a power nap. However, after the trading session, I did take a nap, and post-nap, I felt mentally fatigued. This experience was a wake-up call for me, highlighting the need to eliminate the unnecessary suffering caused by poor sleep habits.

Poor sleep not only affects my trading performance but also impacts my overall energy levels and how I function throughout the day. It's clear that this is not a sustainable practice.

As for October 4th, my psychological state was significantly improved. I managed to catch up on some much-needed sleep, which allowed me to approach the trading day with a calm and composed mindset. I had complete confidence in my morning trade idea, which involved seeking an upside break to the pivot point on NASDAQ. This strategy paid off, and we were able to capitalize on the gains. So, that's the latest update on the accounts.

Approach to Activation Fees and Copy Trading

Let's dive into the core of activation fees and copy trading. To give you a concise overview of my approach and opinions on both, let's start with activation fees. The concept is essentially the same for both Rhythmic and Trading, with Rhythmic being more budget-friendly, making me a tad envious. Nevertheless, it is what it is. I view trading as a business, and when it comes to activation fees, I see them as a necessary business expense.

Think of it like a restaurant owner who has to restock inventory every month – purchasing food ingredients, to-go boxes, utensils, sauces, and paying their staff. These are essential expenses for the business. Activation fees fall into a similar category. While it's not always enjoyable to dip into your pocket for such expenses, it's the process. Since I aspire to be a prop firm trader, I accept that some companies require activation fees, including Apex Trader Funding.

Regarding my approach, I opt for the monthly activation fee plan. I'm realistic and self-aware enough to acknowledge that I'm not consistently profitable. I've previously mentioned this, and it remains true because I'm still working on mastering trading psychology, emotional control, and risk management. Until I gain more confidence in these areas, I'll stick with the monthly plan. From a financial perspective, the $160 lifetime option is more economical. It's a one-time payment, as opposed to $105 monthly, which adds up to over $1,200 annually.

However, I can't be certain if I'll have a Performance Account (PA) active for an entire year. For those who know they can't maintain an account for longer than a month, the $105 monthly plan may be a better choice. To put it in financial terms, consider subtracting the activation fee from the minimum payout (e.g., $500 with Apex). If you only manage one payout within the month, you'll have $395 in your pocket after subtracting the $105 activation fee. This is a good return on investment. Even if you don't reach the second month of your PA account, and you've spent $160, you'll still have $320 in profit, assuming my math is correct.

Now, on the topic of copy trading, it's a subject that elicits a variety of opinions and approaches. I won't delve too deeply into the pros and cons, but I'll provide my straightforward perspective and experience. I believe copy trading has its share of advantages and disadvantages. Personally, I find it appealing, especially when I can access high-quality accounts at steep discounts, such as 90% off. I have a predetermined monthly budget for evaluations and activation fees, and I haven't reached that budget cap yet.

For instance, if I decide to copy seven accounts at $18.70 each, and I happen to lose them, I'm still within my monthly budget limit. However, if finances are tighter, I'll be more cautious, spreading the risk accordingly. My approach also depends on how I'm feeling on a given trading day. If I'm well-rested and mentally alert, I might copy trade multiple accounts simultaneously. On days when I'm not feeling my best, I'll adjust my risk management and may avoid trading all my accounts simultaneously.

Separating Evaluations and Funded Accounts in Group Trading

One of my key strategies is to differentiate between evaluations and my funded or performance accounts when it comes to group trading. I'm not sure if others follow this approach, but it provides structure in deciding which accounts to trade and how to trade them. I consider three criteria: time, the amount of money allocated for the account, and stress. These factors play a significant role in my decision-making process when it comes to group trading or copy trading across all my accounts.

As I mentioned earlier, the special 90% discount offer is still in play, and I haven't reached my budget limit for evaluations or activation fees. This gives me the confidence to proceed, even if I were to lose all eight evaluations. I can always pick up a few more. This situation is unique because the 90% deal is about to expire. I hope that clarifies my approach.

This is my personal opinion and approach regarding activation fees and copy trading. There are various perspectives to consider, and it's important to maintain optimism since, in the end, trading is a business, and your investments are essentially in yourself. I'm grateful for your time and support and appreciate your use of my code CSZNWHCH and links. I look forward to connecting with you in the next article.