Recorded, not promised.
A live, multi-asset portfolio traded by hand — reading market structure, cross-asset correlation and macro events, across trend-following and mean-reversion setups. Every figure on this page is recorded by a third party: no projections, no signals for sale, no story the numbers can’t back.
Darwinex has invested of its own capital in KBAD, and ranked it as high as in its capital-allocation programme. See on Darwinex ↗
Capital at risk. Past performance is not indicative of future results.
Track record
Monthly returns
Capital at risk. Past performance is not indicative of future results. The curve and metrics are calculated from the DARWIN’s daily closing quotes as published by Darwinex (Tradeslide Trading Tech Limited), using Darwinex’s own formulas, and update automatically. Max drawdown shows the deeper of the daily-close and Darwinex’s intraday figure. The DARWIN quote is an index based at 100 on inception. The track record is under one year, so annualised figures are extrapolated. AUM is Darwinex’s invested capital plus investors’ capital, with USD converted at the ECB euro reference rate.
Drawdowns
| Depth | Start | Low | Recovered | Days |
|---|
From daily closing quotes. Darwinex measures intraday, so its maximum drawdown is deeper: .
Trading activity
Versus the S&P 500
From Darwinex. Winning trades counts individual trades; the win rate above counts days. Correlation and beta use daily returns; S&P 500 data from S&P Dow Jones Indices LLC via FRED.
What it trades
Share of trading by instrument, from Darwinex.
The approach
The book is multi-asset — equity indices, metals, energy and FX — and mixes two kinds of trade: trend following when a market is moving, mean reversion when it has stretched too far.
The objective is steady, risk-controlled compounding with shallow drawdowns — and a record clean enough to stand on its own.
Structure first
Market structure sets up the trade; cross-asset correlation and macro events confirm it or rule it out.
Rules plus judgement
Fixed rules where the process allows them, discretion where the context decides.
Honest measurement
Every trade on a third-party record. The track is the proof, not the pitch.
I’m building algorithmic versions of the rule-based parts of this process. It isn’t live: the aim is to run it within the next one to two years, and nothing on this page reflects it yet.
Risk & oversight
Independent risk engine
Investors in KBAD get Darwinex’s own risk management, run independently of me and targeting a maximum monthly VaR (95%) of 6.5%.
Event-aware
Upcoming macro events are part of every decision, so event risk is weighed before a position is opened, not after.
Fully on the record
Every trade, winners and losers, is recorded by Darwinex and can be checked on the public DARWIN page.
Notes
Questions
How do I invest in KBAD?
Through Darwinex. KBAD is a DARWIN: an index Darwinex builds from my trading and offers to investors on its platform. You open an account with Darwinex and invest in KBAD there; I never handle investors’ money. KBAD on Darwinex ↗
Who looks after the money?
Darwinex, which describes itself as “authorised and regulated as a Broker and Asset Manager by the FCA in the United Kingdom and by the CNMV in Spain”. Darwinex states that clients of its UK entity have deposit protection up to £85,000 under the FSCS, and that eligible clients of its Spanish entity are covered up to €100,000 by FOGAIN.
What does it cost?
Darwinex charges investors a management fee of 1.2% a year on actively invested equity, and a performance fee of 20% of profits, settled quarterly on a high-water mark basis. Every figure on this site is before those fees.
How is risk managed?
In two layers. Darwinex runs its own risk engine on KBAD, independently of me, targeting a maximum monthly VaR (95%) of 6.5%. Within that, my own process combines fixed rules with judgement and weighs every position against upcoming macro events.
Can I check these numbers?
Yes. They’re calculated from the daily quotes Darwinex publishes on KBAD’s public page, update automatically, and Darwinex records every trade. The DARWIN quote is an index that started at 100, so today’s 138.27 means +38.27% since inception.
Enquiries
KBAD is open to third-party investors through Darwinex, which offers the DARWIN and runs its risk management. For questions about the track record or the process, leave a note and I’ll reply.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 53.84% of retail investor accounts lose money when trading CFDs with Darwinex. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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