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What does it look like to pass probation?

If you have not already read the macro rules and expectation for probation please go here:

In this page we point out what we seek for a trader to pass and become allocated. The expectations are non-specific as we don’t want to control your trading system too much. We also want to set a quantitative benchmark as this will allow us to pick the best of the best. At time this benchmark changes, it is dynamic depending the quality of talent on hand. The probation page describes what we will be looking out for in a trader:

  1. Consistency

  2. Good risk management

  3. Low variance in equity curve

  4. Low open equity draw-down

What do these mean?

Consistency – The question we are really asking here is; are you following a system, are you making the same decision according to a set plan? It is obvious to us if you demonstrate make unique decision each time you trade. Also, if you move your stop and target around.

Good risk management – can you stick to using the same risk each time you trade, i.e. 2% fixed risk or do you Hail-Mary trade, average or move your stop when you’re in trouble?

Low variance in equity curve – Variance is the distance from the mean to the highest and lowest points in your equity curve… as traders we love what is called the Sortino ratio but most fund managers use the Sharpe ratio. This mean we will not punish upside variance but will downside variance.

Low open equity draw-down – This is obvious. holding onto trades forever until they turn winners is not good. Easy!

Well what does this look like?

Below is an example of a trader who recently got allocated. Don’t get scared or put off – everyone’s metrics are different. Also, if you don’t do well on the first go, we will support you to show us on another 3-month period. Some traders with us right now are on their 3rd round of probation. We are also here to train you if you want.

Please note: this trader pre-agreed with me to have 0.5% fixed risk and traded majors, crosses and some of the exotics which are not encouraged, but his system involved them.

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