👀 ApexTraderFunding pays a trader $2.46 million

Hi guys, it’s Kieran! I hope you all enjoyed the Easter break. Thankfully the markets are back open today, so let’s get into it!

📢 Prop Firm Industry News

ApexTraderFunding has paid out an all-time industry record of $2.46 million to a single trader. This beat’s TraderKane’s previous record of $1.8 million, also from Apex.

As well as this, well know twitter trader JadeCap has also just requested a $2m payout from Apex. I’m not sure if these guys are all on “live” accounts there, I certainly hope so! as these 2 payments alone puts Apex’s April payouts well over the $4 million mark, which is scary if they are not passing their trades to the live market. Anyway, lets see what happens with JadeCap’s payout this week. Here’s a great video overview of his strategy and the setups he took to lock these profits in.

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Economic calendar

Here are this week’s red folder news events. A quiet start to the week, due to the Easter festivities, however most markets are open today with the exception of some of the global indices. As such, liquidity will be thin, so if any major news hits the wire, expect outsized moves!

📈 The Macro View

Gold has outperformed the S&P 500 since 1971

This is a crazy statistic that I came across last week. If you consider that the entire financial system is geared towards ensuring the S&P500 always goes up, year after year, it is highly impressive that gold has now outperformed it on a multi-decade lookback. Gold futures are up another +1.6% this morning. Relentless.

Gold’s 2 bull-markets since 1971

As per Yardeni research “President Richard Nixon closed the gold window on August 15, 1971. This action ended the direct convertibility of the US dollar to gold, effectively dismantling the Bretton Woods system. Since then, there have been two major bull markets in the price of gold. The first one saw the price soar twentyfold from August 1970 through January 1980. In the second major bull market, the gold price increased sevenfold."

We are currently breaking out of the rising wedge that these bull-markets created 👀 

Goldman Sach’s says “still an attractive entry point in Gold”

“With estimated COMEX speculative positioning as still moderate, we view the rally as structurally supported and less exposed to sharp near-term liquidation risk. Thus, we see current levels as a tactically attractive entry point -- despite the recent move -- and believe this reinforces upside risk to our $3,700/oz year-end forecast."

Current Gold Fund inflows getting ridiculous

This is actually kind of scary for Gold longs. This trade is now very crowded. Whilst fundamentals point clearly to Gold outperforming in these conditions, at these elevated levels, risk still needs to be manged carefully as speculators have arrived on mass.

Before I sign off I want to mention ‘The London Prop Trading Expo’, London's first dedicated prop trading expo on Saturday, 17th May 2025. I had a call with Simon, the event’s organiser last week, and honestly it sounds fantastic!

If you are interested in attending. Use the code 'PTW' to save 30% when booking your tickets and spend a day in London meeting the top prop firms and chatting with successful prop traders. Full details and booking at proptradingexpo.com

OK guys that’s it for this week. Keep your risk management top of mind and i’ll see ya next week!

Kieran