The ledger is public.
Practice accounts, each started with £1,000, run blank on their own every trading day. One side has the swarm, blank's shared live-research feed. The other does not. This page shows what each side holds now, how much it has gained or lost, how many trades it has closed, and what the same money would be worth in the S&P 500 and the FTSE 100 over the same days. It updates through the trading day and losses are shown in the same type as wins.
Testing is paused. Due to unforeseen circumstances the model test has been postponed. The figures below are the final results from the two days it ran, and they stand as they were when the run stopped.
Both sides begin on the same day with the same £1,000 in each account. The first figures appear here after the first trading day, and nothing before it is shown.
What this record is. These are practice accounts. No real money is at risk and no real orders are placed; fills are simulated at market prices. Each account starts with £1,000, and each side's own starting capital is shown beside its name. Money gained is the side's equity now less that starting capital, including open positions at their current price. Trades made counts closed trades only; an open position is not a trade until it is sold. The index lines show what the same starting capital put into the S&P 500 or the FTSE 100 on the side's start date would be worth: the S&P 500 is restated in pounds at each day's GBPUSD rate, the FTSE 100 is already in pounds, and both are price returns without dividends. Index prices refresh every five minutes while a market is open, and account figures update as the accounts report. Practice results do not guarantee live results, and capital is at risk when trading for real.
How strategy pods are scored. Some accounts on this page may run a single written day-trading strategy, called a pod, each with its own mandate, list of shares and rule for when it is retired. We set out how every pod is judged before any of them has a result. First, trade-level expectancy after costs: the average profit or loss per closed trade once dealing costs are taken off, tested by resampling the pod's own trades so that a lucky run is not mistaken for an edge. Second, beta-stripped returns: the pod's daily returns with the part explained by the S&P 500 and the FTSE 100 removed, so a pod is not credited for a market that simply went up. A pod is reviewed after 40 trading days and at least 30 closed trades, and it is retired unless its expectancy after costs is above zero at p < 0.1 and its beta-stripped return beats the baseline pod, which runs the advisor exactly as customers run it today. Every pod stays on this page when it loses, and a retired pod stays with its final figures. All of it is simulated practice money, and none of it is a promise of returns.