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

noted with thanks

This was the Q&A for stage#1, may repeat it at the completion of stage#2.
Meantime back to the journal format.

Happy trading!
Z

end of week#10
stage#2, the goal: money and %gain need to stay green.


overall an uneventful week, with not too many trades taken. all the same it is green, and in line with my current goals of the account.
with the end of March, Q1 2021 has ended too. although a 10k slave doesnt generate too much profit, it made some.
if someone is interested, this is how the "accounting" part of Q1 looks like ( actually starting from the 25th Jan).



120 AUD!
yes, not much.
yes, more than nothing.
both statement is correct.
it was stage#1, which is not about making bank.
now it is stage#2, which is still not the time for making bank, however the gains will likely be higher for the equity being 10x higher. we shall see when the time comes. many talk about discipline. few can pull it off. still very much a work in progress.
the meantime...

happy weekend!
Z

end of week#11
stage#2, the goal: money and %gain need to stay green.


a very smooth week. apart from Easter Monday, with only 1 tiny entry, the rest of the days were fine. occasionally increased the lots a little to cater for the better setups, while still keeping a very tight drawdown; all along in line with the stage#2 goals ( which already fullfilled, being net $ and % positive for April).
just to mention, the Q1 performance fees were promptly credited to my choice (my other Axi acct).
this was also the first week the result started to take benefit of the 100k funds, which ideally should keep on track.
this stage i dont really need to hit any % gains yet, as long as positive, is good enough, but profit is profit, and even the little can add up when comes end of Q2.
very consistent result. not exciting. what, almost boring!
no losing week yet, no losing day yet.
no drama.
oh, btw, still available if someone wants a mentor ( not free mentor though, sorry!)

happy weekend!
Z

PS. think some like details...

end of week#12
stage#2, the goal: money and %gain need to stay green.



another week, without major issues. skipped Monday on this account, which didnt much effect the return, it is still slow, stable profit, which is just happen to be the goal this point. 50 trading days into this "challenge" there is still no losing day, something that definitely helps with the moral, and emotions. green days mean there really isnt anything to feel bad about, be upset about, beat up myself about. there is always room to improve, but in some scenarios 'good enough' is just 'good enough'. and this is right now that scenario. in the best sense, i feel i am 'trading in the zone'.
at this point mentoring Alexey, my new 'student' is bigger challenge than trading this account.
but i am positive i can handle both.
confident, but not overconfident. still very much work, in progress.

happy weekend!
Z

end of week#13
stage#2, the goal: money and %gain need to stay green.


ouch! no, i mean OUCH!
this week looks different!
Monday ( 19th April) was a tough trading day!
still some explanation is needed.
i think the best to do it this way. here is the master acct's (10k) result vs. the connected slave:


since Tuesday morning Axi is aware of the issue. since Tuesday morning there is no resolution so far, thus have to post things as they are right now.
Axi acknowledged that there was some ASIC leverage change end of last month, and they have failed to move their slave accts in time to reflect on these changes.
in turn Monday turned out that some of my trades were not copied ( due "no money"), when my actual leverage was well bellow the 100:1.
clearly the drawdown also were well away from the -10% forced stopout territory.
where things stand now? i made clear that i was at no fault on my own, and i strongly feel it shoudlnt me to shoulder any or all responsibility this case.
If any changes, Axi had plenty chances to inform me, both when moved my acct to stage#2 ( acceleration) on the 25th March, or on when the quarterly profit and new HWM was declaired on the 1st April. or any other days for that matter. but i was not informed for any upcoming changes involving any trading conditions.
for now, nothing else to do but wait and see if Axi decide to do the right thing: take responsibility for their fault!
meanwhile, as a trader, it is important to be prepared for anything, even the worst case. assessing the situation, i am about 0.7% in the red worst case.
i have 4 weeks to turn that back to overall green, before the next evaluation and the chance to be moved to stage #3 ( pro)
conclusion: doable.
apart the money i have at stake, not wanting to lose my profit cut, just as important wanting to avoid losing/wasting time.
the ball is on Axi's side, i sincerely hope they arent taking too long to bring this matter to a close.
such events do have a psychological effect on me, and i like to trade without additional pressure, (or being pissed?).
will update when finally some answer comes...
meanwhile,

happy weekend!
Z

end of week#14
stage#2, the goal: money and %gain need to stay green.


another week and month is over!
was a little anxious waiting for the answer from Axi, even though i knew i wasnt in the wrong, it was putting some pressure on me. yesterday finally the issue got resolved, money credited back, leverage now back to normal as should, and apart a dip on the slave acct equity showing up on myfxbook as a loss day, there is no lasting damage done. ( that is right, 14 weeks in, the master acct is all winning days!, a nice little bonus for myself since consistency is important for me).
exactly 4 weeks left until the next evaluation to move up to stage#3 ("pro"), and so far everything is very much on track. in fact i need to do really nothing more and it is a done deal. meaning that probably will stay on the sensible path and dont push too hard next month, just focusing on the goal ahead. now this part of Thailand just started another lock down period, with early closing shops, no gym, no swimming pool, only takeaways from restaurant...little to do but stay home, and get bored. dangerous! idle hands...better to keep on track and keep busy with movies or books, than try to overtrade. the goal is clear, trading safely!

happy weekend!
Z

end of week#15
stage#2, the goal: money and %gain need to stay green.


the first week of May seen the break of the all winning days of the acct, yesterday gold had a big runner, and part for my mistake to close on the volatility while price slipped some, ended up taking a moderate loss of -0.15%.
most part of that recovered now, and as the screenshot shows the week/month still in the green dispite 1 loss day and 1 day without a trade.
3 weeks remain to the evaluation, things are on track, and intend to keep it that way too.
this week wasnt my best overall, sometimes more in sync with the market moves, sometimes less, this felt one of those off weeks, greatful for the weekend.
this is trading. sometimes good, sometimes so-so, always something to improve on, but overall feel cant complain, 15 weeks into this journal and the result is still pretty consistent, every single week green ( the red was a broker mistake), moderate low single digit max dd, and on track to move to next stage.
in fact will celebrate with some ice cream tomorrow. deserved, but too lazy to go to buy tonight.

happy weekend!
Z

end of week#16
stage#2, the goal: money and %gain need to stay green.


a week of semi-vacation, on the country side. limited trading, although mainly thanks for Monday, i think still beat last week's result. not that it is a major goal.
focus on the 25th May; and for the time being everything is perfectly in line with all those goalposts i need to hit then. when the time comes will trade the acct a little more active, this point it isnt the priority still. that said halfway into Q2, even at this rate the end of quarter can be a neat little bonus for the effort. but no need to get ahead of things. one step a time, one day a time.

happy weekend!
Z

PS: with Alexey currently on the actual live trading part of lessons ( yes, he also had a green week!), just want to mention i will be free from the beginning of June, for 1 new student. if you in need of a mentor, can contact me by PM.

end of week#17
stage#2, the goal: money and %gain need to stay green.


slow week. didnt feel to commit too much to trading, part for the market not being ideal to my approach as much as i would like, part bcos i didnt need to push too hard.
the overlooked truth of prop trading that, it is HWM to HWM trading.
when the new period ( this case quarter) starts, tend to start a bit slower, building up some cushion for the dd, getting into the mood that again "starting over from zero". then comes to making money toward the middle. then near the end of the period starting to slow down, wanting to secure and hold on to the gains, and avoid messing up before the final gain and new HWM declared.
to make it a little tricky, i still have a stage#3 to move to, which isnt collide with the quarter end, but has its own date, so this point i still must consider that too.
it is being the 26th May, so just 3 trading days away, a reason on its own why i am staying on the safer side for now.
all the requirements ticked a while, so rather picky about the entries and size very conservatively.
bcos it is an important goal to hit.
and as confident as i am about hitting the goal, it doesnt hurt to play a defensive game this point.
should all go well, as the last time, i will open up the journal for Q&A posting and comments for a week.

happy weekend!
Z

end of week#18
stage#2, the goal: money and %gain need to stay green.

and
stage#3, the goal: 0.5+ % gain within the calendar month


that is right!
as of the 26th of May, the acct got promoted from stage#2 ( Acceleration) to stage#3 ( Pro) phase.
as per the rules, it has also received an additional 50k aud fund; currently looks like this:


TE gets a little off with the numbers when funds added or withdrawn, for the record the ( correct) current month is at +0.81% now.
those who like technical details, the acct has a very high score (92), however this "exercise" isnt for score, but for getting the funded acct maxed out at 350k aud.
as long as the score stays above 75, ( or 65 if 12 months plus track record, which i also have), that is OK, and enough, for the purpose.

this month overall a little bit slow for my approach, the market moves arent ideal, but since the goals are clear, anyways they have priority, thus i wasnt pushing myself to trade too much, once already secured what i needed to secure.
going forward to goal changes slightly ( as the above sceenshot indicated), now i would need to target +0.5% gain in the calendar month in turn to gain access to a further +50k aud funds...4 such event are between me and the max equity allocation in the moment (150k to 350k).
the focus will be on that 0.5% gain, and remain there. it is still not the time to try to make high returns. the next months are still about gaining fund.
of course, with the added +50% more slave equity, that earning will grow 50% faster anyways for the next month.

as promised, to mark the 'promotion to pro phase' i will open up commenting on the journal for a week now.
if anyone feel some Q&A, is the chance.
else i hope still enjoying the journal, and appreciate the 18 weeks of consistent profits (the leverage mistake was fixed, and there was no losing week! )

happy weekend!
Z

Congrats on the additional funds man, good growth so far. Most wouldn't have the patience.

Through these stages before you reach the max 350k, are you allowed to withdraw anything from the account?

Secondly, once you attain the 350k, do you plan to start risking more for much bigger gains?

Thank you!

most thus doesnt last long... in my opinion it is about to find the balance, the right proportion of making money, but safely keeping within the rules too.
patience is a necessary element for lasting.
to paraphrase a quote from one of the market wizard:
coming to trading, without taking risk there is no profit. but if lose your money, there is nothing to take risk with.....what i meant above on balance the elements.


any time you have access and authority 100% over your master acct, of course, that is fully your money.
the slave acct does have a quarterly payout, a sample of Q1 is included in this journal (post#23, here: https://www.forexfactory.com/thread/...4#post13479734)
independent to whatever stage you are, and equity, they will send the money to your chosen way and acct. the linked one was only a "2 months quarter" with still 10k equity, thus not much, right now on track for a better check coming end of June.

to the second question, about plans to increase risk: yes, and no.
i will be looking to somewhat increase risk, generally will be trying to target about 2-3% months ( a payout of 1400-2100 aud pm of the slave @350k equity),
but i will be looking to achieve that gain increase partially by increased trade frequency, and not by drastically raising the risk.
there is 4 parts of the explanation to this:
1. a solid 6 digit track record always have more use than a short lived high risk stint. plus on the longer run it may still pay out just as much.
2. i am using the same master acct to parallel to build up a Darwinex score on that base, and there a lower risk is preferred.
3. keeping a safer, less quity swing approach is a great mental boost, and a good way to keep out bigger troubles, or the temptations of revenge trading, and such.
4. it is less obvious probably, although i did point out multiple posts already in the journal: currently it is a goal to work toward, and it is very important to focus on that goal. so far my only goal was generally to keep the acct green, both in $$$ and % terms. very important to understand that this task didnt involve taking every qualifying setups, and trading with the appropriate risk parameters. while the monthly profits are generally average around 1-2%, the reality that many days and many setups i have passed to place on this acct, and many that were traded were at a lower risk. especially early, at stage#1, when the slave equity was 10k, making 1% or 4%, has no real difference to me financially, that time 1% =20$, and 5%=80$ earning ( @20% cut).
on one hand +60$ i could use, on the other hand, with the bigger picture in mind, at stage#1 it is more important to secure a safe and quick progressing ( there is no time limit, but if end of the evaluation your acct doesnt tick all the required criteria, it will move on the same and be evaluated again a month later) than an additional say 60$.
the goal moved some, now at this coming next 4 months at "pro" stage, there is a minimm monthly gain of +0.5% required to gain access to further funds, but again the reality that this change dont really result to change on the current approach of mine, since every month was over that 0.5% threshold anyways.
of course, once the max obtainable funds level reached, it wont be any use to stay fully on the defensive side, and then it will also make the full sense to trade all setups, and with the appropriate risk profile. bcos when at 350k equity 1% = 700$, and for example 4% = 2800$, so it isnt anymore a 60$ difference, but a substantial one.
the 60$ may be a dinner out fo 2, some places maybe a cinema + dinner, while 1400-2800$( 2-4% gain on full funds) may be already covering living costs many places around the world.

note: all figures exclude the master acct, and/or any other personal acct equity, that is fully at the traders discretion.
to go all the way to the 350k funds, all what is required from the trader a min 2000 aud master acct.
i have added more funds to fully max out the "acceleration" stage#2 match, and in turn save up to 2 months on the path to aquire full 350k.

note2: i have mentioned Darwinex. their score system is different to Axi's, although share some common characteristics; Darwinex score seem to be heavily rely on the acct history/track record length, along a low VAR% ( value-at risk%). with the master acct having just only 4 full months history to date, it deem it there a long shot, even though the score is nicely improving, almost daily, however at a slow pace.
also, when/if comes to funding from Darwinex, their allocation system isnt that straightforward nor guaranteed as Axi's, and with a 15% cut 'only', quarterly.
on the upside, it is FREE, and since the master act trades as it is and no need yet to open a darwinex acct, it is really zero additional work, so why not "keep one more iron in the fire"?

hope this answered your question!

happy weekend!
Z

Lol makes a whole lot of sense, thank you.

Just checked the leaderboard, i see you're even ranked above traders with higher percentage gains.
Btw, How and when did you have a DD of 29%? or is that "allowed DD'?

Lastly, account age says 10 months+, does that include the track record you provided to them?

i have used my so-called "toy acct" with a simple custom date to qualify. can use last 6 months or so, normally i do that anyways as that reflects the acct best.
the truth that i have multiple accts that could qualify, partial or full history.
just use one that fits the purpose.

for the qualifying acct there is no dd limit, just the score.
(i do flip my "main" acct designation between Axi and ICM, that was an ICM one i have used to qualify this time, actually. sometime last year i have again flipped between the brokers, and now my main acct is ICM, and the toy is at Axi...just a technicality, my preference at times. the acct used to qualify currently have a score of 88)



the acct age is showing a "merged" acct, age and score comes from the qualifying period plus the funded, together.
of course, when it counts, i trade more responsibly, and not get far into dd....
this is how the master acct to the funded looks like, just closing a silly little loss yesterday there.


to wrap it up, it isnt about the 'preparation' time that matters, but the 'exam' result.
what i tried to emphasise on the other threads also, a solid track record doesnt have to be always equal to the most stellar numbers, definitely not the case of Axi, but it should be better then the majority of the attached accts there to score high enough to qualify, ie place you say the top 5-15% of the traders/accts there?


attaching an acct, any broker, is free, cost nothing, and as long as there is at least 30 closed position, it will get a score. it can be improved relative easily too, so even if a bit low, not a major reason to be put off.
but like with so many things, it is beneficial to be willing to do the work for your goal.

happy trading!
Z

end of week#19
stage#3, the goal: 0.5+ % gain within the calendar month


so, June started, the NFP had come and gone, and another week is over. no checkmark to the goal yet, but the (calendar) month is shaping up nicely, currently at +0.4%, which is perfectly aligned to where I want it to be. there are exactly 3 weeks left until the next evaluation, should be plenty enough time to complete the missing 0.1% and some more. not much to say, trading is smooth, very low dd to extremely low dd the past days, generally in line with the kind of safe return I am aiming for right now, and the next approx 4 months.

the past week, to mark the promotion to the next stage I have opened the commenting/posting to every forum member on this journal.
well, apart from Koop, seems there was no question.
maybe I do such a great job explaining things? lol
alternatively, probably no one is interested in how to turn a just-okey couple-month 'track record' into a 6 digit funded acct, without any fees to pay.
either way, there is clearly a very limited interest out there.
nevertheless, I intend to follow thru with this 'project' in the coming months, so there are approx 18 more weeks with 18 more updates.
commenting once again locked, will decide about it in 4 month time. if you must, always can reach me by PM.

happy weekend!
Z

end of week#20
stage#3, the goal: 0.5+ % gain within the calendar month


halfway thru June. "summer trading" came early by the look, trading is slow, not that I am pushing hard either. the month's goal of 0.5%+ gain has been met for the moment, another reason not to trade too hard. it is still about getting those +50k funds added.
we all heard that good trading is boring trading...so I must be trading real good, bcos it is really boring, LOL!
to add a positive note, the end of Q2 is only 2 weeks away. another reason to keep on track!

happy weekend!
Z

end of week#21
stage#3, the goal: 0.5+ % gain within the calendar month


a short week, yet a very productive one. the first 2 days I missed trading, being my son's birthday. from FOMC, the week started.
unfortunate, there was some copy issue on Axi's side, which yesterday was already acknowledged, and waiting for the resolution ( 6 entries missing, all in all, so the actual equity is supposedly a little more than it shows now). the last 2 days had some hectic moves, the aftermath of the FOMC, and while it paid better than usual, i must remind myself of the goal, which is the priority! next week is evaluation day, and i want to get that next +50k aud.
right now everything is looking great! 21 consecutive profit weeks!! i know it isn't a huge %gain, but for those who strive to be consistent, this may give some real answer, if it is possible or not. seeing is believing.

happy weekend!
Z

week#22
stage#3, goal not met


with a blackjack analogy: 21 wins, 22 is bust.
have more facets to it, but the short version could be 'temporary insanity'.
no break on the exit either, a whopping negative slippage on the spike that took the trades out. don't want to repeat details, have done that on discord.
as per the program rules, 1 month on the sideline, then can resume trading, of course, need to recover to BE ( last declared HWM). not impossible, but sure some work to be done there.
other things to mention:
- the master didn't have the auto stop out, and were out a couple of min later, with profit.
- to date, I am still waiting for Axi to correct the 6 missing copied position that wasn't done from previous weak, not before the stop out, not after, including no further message than the initial acknowledgment of their mistake.

overall, a hell of a run with 21 consecutive winning weeks, and i am not about to give up on recovery either.
as a 'human' trader, i am prone to make mistakes, this case picked an instrument that didn't scale favorably to my needs. a mistake i have paid for, but just a mistake. life goes on, i go on, trading goes on. to be continued a few weeks later...

happy trading!
Z

PS. today is my father's birthday. he would be 70 yo. he has passed 2.5 yrs ago. happy birthday dad!

just a small note:
after the mandatory month on the sideline, the recovery is ongoing, work in progress.
nothing fancy, slow and steady the choice, the timeline to be back above the last declared and paid HWM, (which was end of March) within the next approx 7 weeks...


"everything will be ok in the end. if it isn't ok, it isn't the end!"

happy trading!
Z