Why Probation?

If you are not yet experienced it is recommended you talk to us first, you may need training.

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Probation is for traders to prove their skill on a live account where we want to assess your skill level over a period of 3 months. In order to begin your probation period, we will require you to open a live account with MEX Exchange or Fusion Markets. We want to see how you behave and trade with your real money before we give you ours. 

 

Trading on Probation with your own money separates people who are serious about becoming potential traders with us from those who are not. This also ensures you have already been trading a strategy with proper risk management skills along with consistency. Trading a Live Account is also reflective of what you'll experience as a real trader - with higher spreads than a Demo and the potential to get 'slipped' on your orders.

Probation is for traders who are ready to demonstrate a consistent and profitable strategy with sound risk management. If you are unsure or do not have these traits then it's recommended you first revisit our training program. 

 

There is no guarantee that an allocation will be given at the end of the 3-month probation.

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What you need to do.

 

1. Set up your live account at one of our two brokers (this allows us to view your account in real-time without supplying us your credentials):

   1. MultiBank

   2. Fusion Markets

2. You will need to deposit a minimum of A$2000 in order for us to properly assess your trading acumen.

3. Send us your login number to richard@jacksoncapital.com.au

4. Sync to FXBlue and send us the url (eg. https://www.fxblue.com/users/xxxxx)

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Adhering to some broad rules.

 

For all traders on probation and learning through our mentoring, I would like to mention that we are not seeking cowboys we seek professional traders. This is why we do not allow Grid or Martingale strategies. We also have a set of broad rules so to restrict instruments and exposure. This allows us to assess your trading ability and not your gambling ability. 

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It is important to us that you have the ability to interpret and follow rules. Unless previously discussed with us, please stick to the restrictions to have managed exposure and liquid instruments with low spreads.

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Trading restrictions:

1. Instruments = currency (No Exotics*), indices, commodities. (No Crypto)

2. Stop losses must be used with 2% fixed risk.

3. Max Trades = 3-4, open at any one time 

4. Style Definition = No Scalping i.e. tp>= 20 pip, no grid, no martingale. 

 

* Below is a list of exotic currencies we do not trade due to their large spread and concealed fundamentals. Please avoid trading any to these currencies unless agreed prior.

BGN, NOK, CZK, PLN, DKK, RON, HKD, RUB, HUF, SEK, ILS, TRY, MXN, ZAR

 

What do we look for in a trader?

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We will be watching for the following…

1. Consistency

2. Good risk management

3. Low variance in equity curve

4. Low open equity draw down