We are approaching an important milestone in the PsyQuation journey – our trader incubator program, AxiSelect, is turning two years old this month. Let’s start from the beginning and understand what we are offering the trading community and why we are doing it.
The most fundamental issue good traders face is the lack of capital to trade with. If you want to trade for a living, even if you know you have a profitable strategy and are good enough, you cannot do it without decent capital. A lot of traders try to solve this by trading with as much leverage as they can get, which results in blowing up most of the time because the losses are magnified as much as the potential gains.
We offer a solution to this – prove that you are good enough and we will fund you. It’s as simple as that. What allowed this was a strategic partnership with AxiTrader, a leading Australian broker.
We have constantly improved and fine-tuned our capital allocation process. Together with the increased number of traders in the program, we have benefited with a more consistent performance since October 2018. Here you can see a graph of the number of traders in the program:
Since July 2019 we ramped up our dollar amounts of capital for allocation with $350,000 available per trader with the total program size now in excess of A$7.8m.
Here is how the overall PsyQuation Score has been improving for the overall portfolio:
The big changes in the very beginning are due to the score “settling-in” which is normal with limited data points.
What this means in real terms, though, is that the current performance of the portfolio is at 15.95% in two years, and the current net profit earned by our traders is over $240,000 AUD.
Over the course of these two years, we have allocated capital to a new trader on average once every 8.75 days, and together our traders have made over 50,000 trades. Here’s a chart of the total number of trades:
As you can see, there hasn’t been a better time to become an AxiSelect trader than now. But there is more, joining the AxiSelect program is just the start of becoming a Pro trader.
In December 2019 PsyQuation will launch its much-discussed two-sided market – Copy Trading. Investors will be able to copy a portfolio of Pro traders or individual Pro traders. This highlights the value of joining PsyQuation to become an AxiSelect Pro trader.
Pro traders will enjoy a $350,000 start from AxiSelect and unlimited capital from Investors who join PsyQuation to copy “the world’s best traders”.