Performance Disclaimer

How results are recorded

Results are recorded in R, where 1R is the amount risked on a single trade. A trade closed at +2R returned twice the amount risked. This keeps the record independent of account size and position sizing choices.

Each trade is logged at the levels published at the time the signal was issued. Historical entries are never edited after publication.

What published figures include

Published monthly figures include every signal issued in that month, winning and losing. Win rate is always presented alongside average risk-to-reward and maximum drawdown, because win rate alone describes nothing useful about profitability.

Why your results will differ

Individual results differ from published results because of execution timing, broker spread and commission, slippage, swap charges, partial fills, and the percentage of capital risked per trade.

Members who take a subset of signals, or who manage trades differently from the published instructions, will produce a different record.

Hypothetical and back-tested results

Where any figure is derived from back-testing or hypothetical modelling, it is labelled as such. Hypothetical results have inherent limitations and do not reflect the impact of real execution conditions.