my way....to AxiSelect/Psyquation 350k funded acct

hi

before anything: first and last, this is a personal journal.
it is for myself, and maybe a few who is interested to read journals.
for that reason alone, to keep it all clean enough, i add a posting restriction to this thread.
if must ask or comment, good or bad, do it in PM.
thank you!

a some context:
AxiSelect offers a skill based funding route. A different approach to the popular prop firms most finds around.
can read about it here:
https://psyquation.com/axiselect/
and here:
https://pqmedia.s3-us-west-2.amazona...ram%20Criteria

simplified:
pro: free!
con: need to be able to show some track record

where i am right now?



have a live trading acct, any broker.
attached a trading acct, that tick option 2's rules.
set an Axi acct to be assigned as master.
received the funded slave with the investor pass to track ( copying done by the broker)

stage#1: incubation
day#1: start to trade the 10k (aud) slave acct.


what next?



fulfill the rules move to Acceleration, stage#2

the ultimate goal:
keep the on track, and by about end of the year reach the max available allocation of 350k (aud)
along the way to receive some payout checks.
but at this point it isnt about the money mainly, while the allocation is small it is about to progress to next stage.
for that, there is a minimum 2 months.
thus wont be daily update, but still want to keep fairly regular, monthly, or about.

anyone feel to try to see if his trading acct would qualify for funding, it is zero cost. there is nothing to lose.

happy trading!
Zoltan

end of week.
all is on track.
stage#1, the goal: money and %gain need to stay green.


another 2 months to progress to stage#2.
slow and stready works for this task.
reminder not to self: just keep it low risk, steady!

happy trading!
Z

end of week#2
stage#1, the goal: money and %gain need to stay green.


goal and priorities unchanged and remain the same: low risk trading while counting down the days toward stage#2.
not exciting time, nor it have to be.

happy trading!
Z

end of week#3
stage#1, the goal: money and %gain need to stay green.


admittedly a flat week, nevertheless totally in-line with the current goal, which is unchanged: low risk trading while counting down the days toward stage#2.
the truth is, i could fully sit out the next 2 weeks, and the month would still qualify as 1 good month out of the 2 needed to progress up.
this stage, the current earning isnt a motivation, the bigger picture is, what may come along another 8.5 months further down the road ( the full 350k aud funds).
meantime, all there is to follow the plan

happy trading!
Z

end of week#4
stage#1, the goal: money and %gain need to stay green.


for a long weekend, didnt trade on Monday.
even so, a very solid week, almost equal day to day results, low dd, very much on track with the goals of this stage.
pay it forward, rewarded myself with some mango icecream
nah, seriously, while there is always some room to improve, it is also important to acknowledge when doing what supposed to do: following the plan.
and to keep it real. trading isnt life of death, not only about compounding every last cents, but about having a good, balanced lifestyle.
that is what i am aiming for, and that is where a mango icecream and the evening jogging can both exist side by side.
another week closer to stage#2...

happy weekend!
Z

end of week#5 (month#1 over)
stage#1, the goal: money and %gain need to stay green.


the first month is over now.
i am fully satisfied with the results so far.
not bcos the profit being that high. it isnt. and it doesnt have to!!
the acct is traded as a spare, so missing many entries i took on my main acct, yet still stands a solid +3%, with the worst dd being -1.14% ( from the allowed max 10%), solid.
not only my feelings, but the initial assigned score is also moved higher, from the early 74 to a current 82, comfortable in the range it needs to be for possible passing to the next stage enf of March.
additional for staying on track, next month should see me adding some funds to the master acct, in anticipation to moving to stage#2, will explain more in details next month.

happy weekend!
Z

end of week#6
stage#1, the goal: money and %gain need to stay green.


slow start in March, part for a 1-1 missed day for a long weekend countryside trip ( one this week, and one from next week no trading).
the other hand, it is nearing the middle of month#2, being right on target, and in fact no further trading would be necessary until after the 27th March, when expected to progress stage#2.
one important step will be to adjust the master equity in the remaining 20 days, by additional deposits, to position it to take full advantage of the funds offered at stage#2. it isnt a must have move on my side, already ticking out the min requirement by opted to a more flexible 2000aud equity on stage#1, knowing that it will also automatically be complient with the next stage's requirement:


however, looking to max out the offer, to 100k, if moved to next stage. it is actually true that time is money, and on the journey to the 350k, that move, placing more skin on the game, in return can cut the 'road to destination' by 2 full months. that is how time is money...or in this case, rather money is time saved.
the next task once back from the mini vacation.

happy weekend!
Z

end of week#7
stage#1, the goal: money and %gain need to stay green.


not much excitement this week. skipped 1 day, the rest of the 4 days a moderate gain.
no excitement, no outsize gains, very very tiny dd. the way i want to have if for now.
since the goal has been met for the month already, and just waiting for the days to pass until move to next stage, supposedly on the 27th.
already working on the funding side to max things out for the next level's offer, some logistic involved to use my locally available funds, but i am positive it will be done in time.
i am totally aware that this isnt very exciting this point, and many like to see rather a martingale EA on a demo acct with eye watering gains...but bear with me a little longer, end of month the slave acct should be moving up to be 100.000 aud, and that isnt a demo acct.
the (boring) truth is, that this stage it isnt about to make the "killing"; it is about gain the funds. once that is done...then, and only then it makes full sense to try to aim for making some real money out of it!

happy weekend!
Z

end of week#8
stage#1, the goal: money and %gain need to stay green.


a relative easy week, didnt trade the 17th, and very lightly the rest, simple bcos next week is the final one from this 2 months "incubation" period, with the evaluation to step it up some. needless to say no reason to mess it up, and there is also a very moderate incentive only to do anyhow, cos this equity level even a few% extra profit wouldnt make or break bank.
not to leave tasks to the last moment, end of trading tonight i have made the necessary master acct top up, now all is properly lined up for the next weekend.
it is all about keeping a cool, levelled approach.
if that would be always so easy!
the weekend driving up to Bkk to re-calibrate the gearshift of my car, Monday starting an apartment renovation project on the new apartment, where i am looking to move-in hopefully by my BD next month, and up just coming the university choices of my son, due real soon, with another 4 years and 5 figures commitment (for me, who else?)!
a full time trader's life is just about the same as a full life of a non-trader.
probably only more socially distanced than most.
for bad or good, lately mostly for the good.

happy weekend!
Z

end of week#9
stage#2, the goal: money and %gain need to stay green.


those who read this far may noticed 3 small things so far in this post:
- it doesnt say stage#1 anymore
- the %gain for the week/month/year looks different
- the equity is bigger

as of today, the account has been "promoted" from stage#1 ( incubation) to stage#2 (acceleration). the rules and the goals are unchanged this point.
about the gain, the actual week is ending with 0.46%, in case someone would care. it is just how the TE handles the additional deposits.
there were deposit mades, in line with the previous post, and in preparation to moving to stage#2.
not bcos it would be necessary ( since i made the start the 2k aud deposit to the master acct that would be enough to see me thru the program), but bcos i am in the position to be able to, and thus max out the possible 10x matching what stage#2 offers.


going forward, next is targetting to move to stage#3 (pro). the main requirement to show profit overall, both money and % term, and to keep a score at 65+.
this account carry the current score of 84, so that likely wont be a hurdle.


in summary the account has gained about 4.5% in 2 months so far (450$), but important to remember this time and place the size of profit has little real benefit; it is all about gaining additional equity.
the matching funds moving up from 10k to 100k aud will partially change on that, bcos the equity base will be considerable larger, but it is still only 30% completed the journey toward the final goal of 350k funds.
it is very much still a work in progress, as far as this account is considered.

happy weekend!
Z

hi
i have decided that until Sunday i will remove the posting restriction.
if someone feel to comment or ask question, this will be the chance, then the thread will revert back to the same journal format again.
just a personal request: dont troll with posts!
it is intended a Q&A opportunity.
thank you!

Hi pf,

I know the positive of using axi select program is they dont charge any fee for a challenge, it's all good in that respect.
But the downside (looks like a downside to me) is the low profit share of 20% (as opposed to the much higher profit share of the other prop firms out there)
I'm interested to hear your view about this, maybe you allready covered it, I can't recollect.

hi Chake,

being free isnt the only positive, although is an important point.
the main idea supposedly the whole "prop trading" built upon is the scenario when someone can trade but dont have enough fund.
if you think about it, the can trade would come with some sort of track record that statement is based upon....6 months+ isnt really a lot.
if someone cant produce something like that, it kind a question why they really want to be getting into prop; it most likely not apply the above "can trade but dont have enough funds". and to continue with that thought: if cant really trade, but expect to be lucky to pass a challenge ( gambling, since there is no any track record to show actually can trade!), just how long would one expect that luck to last? how about "prop firms" throwing in some rules to make it last shorter?

as for the low profit share...what is the famous hedge fund common model? 2/20? the 20% being the profit cut the fund takes. coincidentally ideantical to the 20% profit share. ( no 2%, but no real trader's overhead either, no office rent, no secretary, no advertising).

but to the bigger picture one should also consider other factors.
such as the rules, the leverage, the drawdown; not only the profit share on their own.
bcos ultimately you want things to be lined up toward a longer term sustainable, not a short term game of chance.

look at the rules first. common "prop trading" rules include:

- some will allow limited instrument to trade.
- some will allow NO EA
- some will offer very low actual leverage
- some will have very strict rules about SL being placed
- some will allow very lot actual leverage to use
- some will restrict trading around news
- some will restrict holding trades over weekend

additional most will use a demo account.
some cases with the commission atrificially higher than the "normal" industry average you can find at most brokers nowadays.

as far as i am aware, AxiSelect has only 1 restriction: -10% max dd within the month. that is all!

some program may allow -5% dd, other maybe as little as -1.5%.
both is easier to fail.
but if want to equalize out, you could literally trade your AxiSelect acct 2x or 3x larger risk for equal effect to those dd numbers. the 50% profit model bleeds out right there for actual payout size, the 70% would still stand.

AxiSelect has no profit target, until stage#3, where 0.5% a month needed togain additional 50k fund, until the maximum allotment reached.
at stage#1 & #2, all you need is a positive standing at the assessment time, ie 0.01$ or 0.01% would still do.
most "prop firms" has a profit target to hit.
this places an additional pressure on the trader, along with the time limit created urgency. most cases it is responsible to bad trade decisions, and often the loss of a challenge.

most "prop firms" use nounce rules, that a trader can easily, unintentionally break, and deemed to fail due breaking the rules.
be that placing a SL within exactly 2 minutes after an order opened ( and set the proper risk to within limit across all orders if multiple opened within that time limit), or not opening or closing 2 min before/after a higher impact news a trade, or even ending up with an open position to the weekend ( where broker weekend not necessarily correspond with the actual Friday market close).

demo vs actual live account and trading conditions.
most "prop firm" use a demo account. if, or rather IF actual trades copied, it is something the trader dont see, cant see, if any dispute arise regarding actual feels, tech issues, etc.
often, the offered trading conditions are suspiciously different to the common broker conditions too, some firms on minor having unbelievable spreads, some the instument list being restrictive, some the commission charged is an extraorbitant 8-9-10$ per lot.
AxiSelect slave is an actual live acct, easy to verify that on myfxbook, or just attaching to TE here. more, the login itself verify, the trader has the read only access to the slave, can see all trades, etc.
my case my slave acct is on the same live server as my master trading acct. any price dispute could easily be presented as the chart is one and same, too.
as for the conditions, AxiSelect actually offers a discounted commission fee on the accts in the program, the standard commission 7$ reduced to a 4.7$ discounted rate. sort of aligned to the trader's better chance to success, not looking to fleece the trader on cost. pretty much all instruments available too.
no SL placement restriction, news time restriction, weekend restriction.
also, the profit share of Axi isnt removed at payouts, but left for compounding, unlike some firms do.
and one more thing: AxiSelect does allow multiple stategies to qualify, so one can still get literally to 1 million funds.

but lets see the final numbers, when built to 350k, ultimately.
350k@20% = 70k ( equal to having as own fund 100% profit)
vs
200k@70% =140k [ a 100k acct with some +25% extra funds added a few times]
vs
320k@50% =160k [ a lvl 5! trader at some popular prop firm, that usually happy to interview lvl 3 success story traders with 80k funds. ]

now, factor in the previously touched max DD limit....

if the 350k@20% traded potentially 2x larger size, bcos the actual dd% limit is 10%, not 5%.....then it equal out to 200k@70%

if the 350k@20% traded potentially 2.5x larger size, bcos the actual dd% limit is 10% not 4%....the is more than 320k@50%


and some final thoughts:
"traders" gravitate toward to quick fix model.
bigger the carrot dangling, more rabbits will get attracted. some new models now offering up to 85%. imagine that in hedge fund industry, or even at your bank. you put up all capital, and you get the thinnest slice of the pie? sounds strange? it should!
the common knowledge but usually still shunned topic is that retail traders dont last.
just how seriously that true, is to look how many flock to the pay to play models trying to produce 10% a month, and how few of those can actually put together a semi decent 6-12 month track record to qualify free of charge some fundings.
i am not against the play-to-pay models, just trying to show that there is some alternative ways for those who feel undercapitalized but can actually trade too.
where on trading i mean someone able to last longer than a few weeks.
it is up to every aspiring trader to decide what feels more "real" to them, and what doesnt. right now, judging from the views, very very few gets what i am trying to show/tell with this journal.
there is more to the topic, but it is already a long post; and generally there is a limited interest there in these kind of (more serious) conversations.

happy weekend!
Z

Congrat Zlotan!

Same here, my second account is at same stage.

Your results are truly amazing. A real pro here.

Keep it up.
David

I read the website is 350000 per trader.
So can deposit and create another account.
So you guys have more than one prop funded account with axi

Can have more than 1 acct per trader.
But the accounts have to be traded by a different strategy.

How to determine different strategy...
I guess trading different currency for two different account should be ok.

simple.
dont have identical trades, ideantical holding times, etc.
when in doubt, [email protected] is your definitive answer. this is a question for them, really.
i am in no ways part of Psyquation or Axi, including but not limited to NOT being their support team member.

My FTMO funded 100k account is 8 months 1 week old, and in profit. Can I use it for Axis to verify?

could...if it would be a live account....but FTMO runs on demo.
however if curious you can connect a demo account to see what score it would get.
if the score promising, probably use some of FTMO earnings to open at any broker an account with 1000$ and copy some of your FTMO trades there to gain a useable track record: live account.