my way....to 1 million dollar funded acct w/AxiSelect [a journal]

hi,


disclaimer: i have participated a little in the development of this new AxiSelect, and also took part in the closed beta testing. just like i was part from early on the old version. that said, i am a trader, and my journal will reflect my unbiased opinions and experience as a trader! i trade full-time since 2017.
i was funded with 500k (max allocation) by old AxiSelect, and i had many payouts over the years.

it has been a while, but time to re-load the previous journey with AxiSelect ( if interested, the old thread was: https://www.forexfactory.com/thread/...0k-funded-acct?)

foreword;
the old version of Axiselect using the Psyquation score stopped working at the end of November 2022.
even before and ever since there was ongoing work to re-launch a new version of AxiSelect, and finally it is ready.
AxiSelect. same name. but lots of changes.

the old journal has all the details of the old version.

i will try to summarize the differences of the new AxiSelect:

- the maximum funding now is up to 1 million USD!!
- the performance fee now is up to 90%!!
- 100:1 leverage!!
- a wide variety of instruments to trade, forex, indices, gold, oil
- the fastest time to scale up to maximum funding now is only 9 months!
- the payout is monthly!
- a choice between standard or pro ( spread+comm) acct type

and a few things that haven't changed:

- IT IS FREE! it isn't a pay-to-play prop firm, but something i call merit-based trading.
- there is a score, now called the Edge score, that will allow a trader into the program, and determine how far one can scale up
- trader need to have their own trading account with min 500$/1000$ to participate. but it is 100% your account, your profit or your loss you make on that.
- the maximum allowed drawdown is -10% from the starting equity of the month!
- no daily drawdown limit
- no trailing drawdown!
- no time limit! only minimum days, no maximum, ie no pressure on performance! only +5% profit needed to scale up ( if the score allows it)
- no restriction on trading style ( other than the usual latency arb and such that gets one kicked out everywhere)
- well-established, regulated brokerage's program, not a clone website trying to one up another clone website. ( need to be able to join SVG reg to participate)

here you can read the program rules:
https://axidocs.s3.ap-southeast-2.am...gram+Rules.pdf

and this is what the new AxiSelect pathway looks like:



i believe the full-time launch is next week!

if you are a former student of mine, i highly recommend you join ASAP! and reach me on Skype if want to join any of the live trading sessions i still do regularly!
there is no excuse not to make to at least 100k funded account!

OK, this is about the general overview, now time to get into the journal part

happy trading!
Z

hi,

to continue,
this is where i am currently:

SEED stage, 500$ minimum equity = 5000$ allocation account, 0% profit share.



and this is where i am heading:

INCUBATION stage, (min 1000$) 2000$ equity = 20000$ allocation account, 40% profit share.

first of all need to get a score. since i had been in the beta test i had one already, and i had a decent profit as well.
but this is a totally fresh start from this month, the beginning of September ( not bcos i have made some bad trading! )
the score given, the next step once get accepted to SEED stage is to start to trade,
- a minimum 20 trades to pass to the next level, INCUBATION
- a minimum +5% gain to pass to the next level, INCUBATION
- a minimum score of 60 to pass to the next level, INCUBATION
( and once those boxes are ticked, a minimum 1000$ own equity, something i have ready to add)

looks like this:


thoughts:
my Edge score is 82 currently. the risk is probably a part where i can ( and likely will) improve, though there is 0% absolute drawdown, and even the maximum drawdown is capped low, despite opting to the minimum, 500$ account size.
the reason is simple: this level doesnt let me earn anything. no point to waste time, bcos time is money.
in case i get in something silly, there is a chance to RESET ( restart) at this level.
no cost for it, but my own loss, that if i cap myself at a max -10% =50$. i feel that is a reasonable risk. something i can afford if i get in a bad scenario.
on the upside, the next level, INCUBATION will already start to earn a profit share, has more of my equity required, and a minimum 60 days to spent there will mean i can take more of my time, ie use less lot sizes and in turn less risk to achieve the next +5% profit. expect that should improve my risk part of the Edge score.

talking about score, it is somewhat a black box for me like everyone else. can only hope there will be later more info how it works and how one can expect to improve it.
for the moment that Edge score of 82 is not too shabby. it can place me neat to the top of the already participating accounts.
especially being a scalper. i have no illusion that scalping itself is usually not preferred by the scorings, unless very consistent.

so this is how things stand at the moment.
the immediate goal is to complete that +5% profit target and level up to the INCUBATION stage.
the challenge is the low equity size, which is a double-edged sword, making it easy to gain or lose money quickly. but it is a minimum size, a trader can choose to start with more equity, but only can't choose to start with less.

the personal challenge is that next Thursday i fly to Hungary, and for 2 weeks may have limited trading. i ( still) don't like to trade from my phone!

happy trading!
Z

Good luck Zoltan!

Good luck Zoltan! I'll follow you, as I did in the past threads.

hi,

tomorrow off for a trip to Hungary, so my goal was to try to finish up this +5% target before that.
it involved a little more risk to take, and i have probably dropped some in the score, will see where things stand tomorrow.
the day started with Edge score of 83. currently showing as 82.
not yet at 90+, for sure, but for the moment it works for the immediate goal.



as the image shows, i have passed the +5% target, my Edge score is 60+, and as such it qualifies me to move into Incubation.
and that is where things start to look interesting, as that level will earn a 40% performance fee on the profits.
the other requirement is to wait for a full 30 days at this level this time lines up very well with my 2-week vacation.
the money required to top up for a minimum 1000$ is readily there, just a quick internal transfer away, that is immediate.
want to verify whether deposits can be done at any time, or not; i know withdrawals are best to be done end of the month before placing any new trades.

talking about deposits, the Incubation level comes with a min 1000$ but a maximum available funding of 20000$.
and a multiplier of x10.
it is very simple math: if i want to maximize my funding, i best to have 2000$ equity going forward.
i know i want to maximize my funding!

there is 3 reasons to do that for me:

1. the Incubation level comes with 60 minimum days, ( vs the 30 minimum days in Seed level). bcos of that, i dont have to rush to make profit.
2. relate to the above, bcos the longer time, i can use comparable lower position sizes to achive the next +5% target. the lower sizes/larger equity combo should be positive for the risk component, ie should result better risk score...that is needed if i want to see a chance of Edge score 90+ somewhere down the road.
3. a larger funding would earn more dollars from profit share.


a student raised the question of how this program compares to Darwinex,
back in a while i gave Darwinex a try for a few months, very slowly moving their score up, spending around 3 months watching it. that despite 99.2% of winning days
i am not questioning it was working for some, but it wasnt working for me, or my liking.
even if i would get some funding down the road, the profit share would be 15%...quarterly. no thank you!
for most retail traders, that is not a good cash flow.
old PsyQuation had also this quarterly payout, although at 20%, somewhat higher.
AxiSelect guys were listening, the new program has a monthly payout!
and starting at 40% profits, considerably better. and to jump a lot with higher tiers.

so what is my next goal?
immediate: a first paycheck end of October.
midterm: Acceleration stage, end of November, 60 days from moving to Incubation.
general: get that Edge score to 90+, ASAP!

a work in progress!

happy trading!
Z

Hi Zoltan

This new Axiselect funding program looks like a winner to me, thanks for sharing the details before release next week.

I really think this edge score may ensure traders take this funding game more seriously by giving them accurate feedback on their trading journey. I remember giving Psyquation a try two years back and it was enlightening, certainly it helped me eliminate a few bad habits that had creep into my trading methods back then. I presume it's been polished up and now called an Edge Score, does it work the same way?.

I am looking forward to seeing you achieve the full funding by the middle of next year - I have already marked it up on next years calendar.
I should also find time outside my Future's Trading endeavours to trial this program myself, where's Axi's phone number.

Have a great break in Hungary with your family, I'll be visiting there early January so I will need to know where to go to get a decent bowl of Goulash from.
You know, a spicy version.
Hot

Cheers Buddy, enjoy your break

hi,

vacation is over as of yesterday, and i am getting back into my trading routine.

AxiSelect was on hold but all the necessary profits hit before i went to Hungary
last week i also topped up my equity as planned, in anticipation of the next stage ( Incubation) criteria.
my goal is to maximize out the allocation equity when it makes sense, and since Incubation stage is already earning a performance fee, it makes sense to do it!
so i had.



now the allocation account has changed, and it is at 20k equity.

next goal:
since this stage will have a minimum 60 days to spend, and +5% profit to make, i will take a more leisurely approach to it than in Seed stage.
my score would need some boost, from the current 82; the ultimate goal as always is the 90+
the longer stage period however means that i will be pretty much on track with 2.5%/month gains, and bcos of that i can/i will use lower risk and lower position sizes to reach that profit target.
this is supposed to improve the account's risk score at the very least, but only time will tell.
that said, there is no limit to the payouts as far as i know; so if i happen to exceed the +5% needed within the next 2 months, it would be also a good thing.
one step a time...

happy trading!
Z

Hi pf,

When you were in the seed stage, does the edge score update regularly. I make about 5 trades in the seed stage, the edge score
Still remain same as 51.

Can I post question here or post in my highway

Regards
Jin

Hi Jin,

The score should update regularly. ( given your trades are warranting a change).
Especially early in with less trading history I assume the changes should be more marked and often.
A student of mine's had moved from 67 to 78 trading the first 11 days.

I don't seem to find your name on the leaderboard.
Is it possible this Axiselect account of yours is a new one?
If so, it could be that based on your axi account history you were assigned an initial score; once in Axiselect you should get a score after 20 'trades' ( as in setups, not entries if one setups involve more than 1 entry!).
If this later your case, then keep placing trades and see Edge score after completing 20+ 'trades' in seed stage.

That said, I had about 5 setups traded last night myself, and although it was a profitable kick off the incubation stage, but my score didn't move at all either.
I know how you feel.

Happy trading!
Z

hi,

the first full week in "incubation" is done.
the week started slow, then after the CPI, and today was some action, gold standing out today, something that gave a nice push to the account.
here is a picture how it looks currently:



the goal remains the same, and believe slow and steady will just take me there, so there is no rush.

today encountered a more difficult day, but even with that, my score didnt improve much, not with lowered sizes, not with 15 winning trades a row.
actually for a day or so went to 83....then back to 82.
both a far cry from the target 90+.
but there is still time, at least 3.5 months before that starts to really matter.
lots of things can change in the meantime.

this week 5/5 winning days, and adding +0.89% profit to my account, i am OK with my result.
still a work in progress!

happy trading!
Z

hi,

another week is done.
only ended up trading the first 3 days, but still added 0.55% profit toward the next milestone. least all were green days.
next week should see a bit more news, maybe the market will return to be slightly more volatile.
lately London Opens are almost just a waste of time, and i dont like to waste time too much.
YouTube has plenty of videos to entertain, but watching them doesnt exactly put food on the table...



my score is up +1 point, but on the exact same numbers, so no idea what happened, all the sub-scores are same as last week.
whatever, at this point it still a little early to bother too much about it, although i would of course like to see it improving.

happy trading!
Z

hi,

yet another weekend!
and another quiet trading week...neither Canadian nor EU interest rates brought much volatility to the market, what didnt help to find good opportunities to fit my trading. the week still made +0.46%, and considering only took trades 3 days, that is just OK.
October is almost over, and more or less i am on track profit-wise where i planned to be.
the score is an altogether different matter. but was told AxiSelect will soon post things to clarify it some, probably best i wait for now and dont dig too deep into it still.

here is how i stand:
some improvements to it, but unchanged score, remaining 83 as it was.


and here is how it looks on myfxbook stat since the official launch in September:


my summary: all green days, no overnights/weekends, average hold time 8 min, PF 2.40, max dd very very low.
all is quite good. but the Edge Score.

happy trading!
Z

hi

end of October.



+3.14%.
right on track to the 5% by the end of November goal for the Incubation level.
minus the score. that is unchanged. still.
cant have everything i guess
well, will cross that bridge when i get there... in 5 weeks time will set my mind on the next goal!

happy trading!
Z

hi,

1st of the month, first time ending a month in Incubation, the first earning level of AxiSelect program.

this morning my first payout has arrived, by the form of a transfer to my AxiSelect (master) account.
my own earning was 66.5$ on the master account. (few trades were still counted toward the Seed stage, not earning a profit share, before moving up to Incubation)
my AxiSelect earnings came as 251.5$
the grand total is 318$.
the equity was 2000$ own money, so thanks to the leverage of AxiSelect, that is equal to 15.9% gain in absolute terms based on if i would be trading only my own equity.



i did reset my equity level to the 2000$ needed to max out the available funding at this stage, for now, before placing the next trade. if want to withdraw, must follow this procedure at the beginning of the month. and of course have no open trades, to get the automatic payout.
with that set, ready to continue to complete the missing 2% of the +5% requirement to move to the next stage.
profit secured on the sideline, stand by to add back if/when the account is needed to once again max out the available funding.

happy trading!
Z

hi,

having some tech issues with my account,
i have decided that i test out the re-start function.
a deliberate move from my side, the drawdown offset by the profit i was having so far. being 1% up today but not showing up to the profit target was the trigger.
my score hit a place where my trading history is fully in the score, and the info about how to improve not forthcoming from AxiSelect, i saw this point in time as the potential best (and lowest possible cost too) for myself to start with a clean slate.

will update once the new account is up and running, assuming by next week sometimes.

happy trading!
Z

hi

just a small update,
did go thru the acct reset, placed the first trade.



this week was a rather flat one, almost unusually flat the forex market ( to my liking).
it happens. markets have cycles.
i am OK to sit on the sidelines when the conditions arent right.

happy trading!
Z

Hi Z,

I didn't understand why you decided to start all over again.
I understood that you hadn't broken any of the rules so why ?
It could also be that you have already explained but I don't know English very well.

Best regards,
Bubincka

Hi bubincka,

To very much simplify it: the score.
I am trying to understand it better.
2 facts, that I have been trading since beta testing that acct, and suffered a 4th serious tech "glitch" that negatively affected me directly, and a growing number of trades that made very difficult to fix the score as well.
I have learned some very valuable things from this "experiment", and will try to use it to "lobby" a little at Axi to level out the field for traders ( myself included).
Will I succeed?
Hard to tell, there is a strong resistance from Greg to listen to reasonings regarding the edge score.
From my view, if you the trader put in the work, make the trades they need, make the profit they ask, not break the drawdown limit there is, and have reasonable equity swings ( up or down), that should eventually unlock you the pro level.
Bcos the ultimate goal is not to get to a 100k funded account, if you actually doing the above things right.

I could go into lot more details in regards of the edge score, or it's components, and make some cases where I believe it has flows. But it may be a lot of typing and perhaps a boring topic.

Happy trading
Z

what i dont understand, why you put not in big money?
is it not to expensive because of opportunity costs to work 1 month for 250 usd money, what is not even fixed because risk part in trading (depends on your amount of trades per month and the edge of course).
will testing small account not let you complete miss the chance to see how big trading sizes can be used inside this and so get faster and more exactly information's (Spread, slippage, time from set order to fill, partially filling, orderrouting,....)?

Hi,

Not sure I understand your question about "why you put not in big money";
But if it refers to my own equity size committed, that case the answer is the limitation of the maximum allocation each level.
I put in exactly the amount necessary to maximize the allocation out corresponding to actual level, not less but not more.

The bulk of my money is trading on other personal account/s.

Re: second part, I pretty familiar with Axi's conditions, spread, slippage, etc, bcos using them since 2017.
Axiselect 's conditions pretty much the same, for one bcos using a ( my) personal Axi trading acct as a master account.

As for opportunity cost, I would say it is low to minimal, part bcos as first part said, bulk of my money isn't riding this opportunity, ie as such didn't earn 250$, but considerable more, for my time spent on trading.
My suggestion is always to have more than one trading accounts, and handle each to their own goals in mind.
For the time Axiselect (not yet) representing major part of my income, current level is rather an opportunity with potential, something to see where it can or will evolve.
A part of my judging to restart it last week.

Trading isn't a quick hobby, I look at it with a longer timeline as context.

Happy trading!
Z

ah ok, so not the only account, then makes sense.

"Trading isn't a quick hobby, I look at it with a longer timeline as context."
this i see same. nothing beats wins from a private account long term. then 100000% profits are possible if done step by step over 1 or 2 decades.