Performance Methodology

Hawk Trading Education measures the performance of its systematic trading approach using data drawn from live, funded trading accounts operated by Hawk's principal traders. Performance data is not sourced from backtests, paper trading accounts, simulated environments, or hypothetical reconstructions. All figures presented publicly represent the outcomes of actual orders placed and executed in live markets, with real capital at risk.

Hawk's performance measurement framework is built on the following core principles:

Hawk Trading Education subjects its performance data to a structured verification process designed to ensure that the figures presented to the public, to programme participants, and to prospective signal licensing partners are accurate, complete, and fairly presented. Verification is an ongoing process applied systematically to all performance data prior to its publication or communication.

Hawk's verification approach draws on the professional standards of the accounting and auditing disciplines, adapted to the specific context of systematic trading performance. The founding director's background as a Fellow of the Institute of Chartered Accountants in England and Wales (FCA, ICAEW) informs the rigour with which Hawk approaches the integrity of its data. However, Hawk's performance verification does not constitute an independent audit within the meaning of auditing standards applicable to financial statements.

Where Hawk utilises third-party verification services or platforms to provide additional assurance over its performance data, such arrangements are disclosed alongside the relevant figures. Users should review the terms, methodology, and scope of any third-party verification service independently to understand what assurances that service provides and does not provide.

Hawk's verification process is described in further detail in its Verification Philosophy document. That document explains the specific standards Hawk applies, the limitations inherent in third-party verification services, and the steps Hawk takes to ensure the integrity of its performance data independently of any external verification.

Performance figures presented by Hawk Trading Education represent the outcomes achieved by Hawk's own trading account(s) over the specified observation period, under the specific conditions applicable to those accounts. These conditions include, but are not limited to: the account size and capitalisation at each measurement point; the broker's execution quality, spreads, and financing rates applicable to the relevant account; the market conditions prevailing during the measurement period; and the specific risk parameters applied by Hawk's principal traders.

Returns reported as percentage figures represent the percentage change in account equity over the specified period, calculated on the basis of Hawk's account as managed. They do not represent the returns that any individual programme participant, copy trading follower, or licensed broker's client would have experienced, as individual results will vary based on the factors described in Section 4 below.

Where Hawk presents risk-adjusted performance metrics — such as drawdown-to-return ratios or other composite measures — the methodology used to calculate each metric is stated alongside the figure. Users who wish to understand the precise calculation methodology for any specific metric presented are invited to contact Hawk directly for further explanation.

Performance figures are presented in the currency of the relevant trading account. Where multiple accounts or time periods are consolidated in a summary presentation, the basis of consolidation is disclosed. Currency conversion effects, where applicable, are noted alongside any cross-currency performance comparisons.

All performance figures published by Hawk Trading Education are subject to the following material limitations, which must be understood before drawing any inference from those figures:

Past performance is not indicative of future results. This is not a formality — it is a material truth. The market conditions under which Hawk's historical performance was achieved may not recur, and the same methodology may produce materially different outcomes under different market conditions. Structural changes in the markets Hawk trades, changes in regulatory frameworks, changes in broker execution quality, and changes in the macroeconomic environment can all affect the relevance of historical performance data to future outcomes.

Individual results will vary. The performance of Hawk's own account(s) will not be replicated exactly by any copy trading follower or programme participant. Differences in execution timing, account size, broker conditions, swap rates, and position sizing methodology mean that individual outcomes will diverge from Hawk's reported performance, potentially materially and in either direction.

Performance data covers a limited observation period. Longer performance records provide greater statistical significance than shorter ones. Users should be cautious about drawing strong conclusions from performance data covering short periods, and should consider the number of complete market cycles represented in the available data.

Performance does not constitute financial product advice. No performance figure or track record published by Hawk should be understood as a recommendation, endorsement, or suggestion that Hawk's methodology is suitable for any individual's personal financial circumstances or objectives.

Hawk Trading Education is committed to the principle of independent reproducibility as a standard of transparency in performance reporting. This principle holds that a sufficiently informed and technically capable observer, provided with access to Hawk's trade data, should be able to independently reconstruct and verify the performance figures that Hawk reports, without relying on Hawk's own calculations.

In practice, independent reproducibility is supported through Hawk's engagement with third-party verification platforms and through the quality and granularity of trade-level data that Hawk makes available within its licensed verification arrangements. Where Hawk's published performance figures can be independently verified by accessing a third-party verification platform, Hawk provides links or references to the relevant platform alongside the performance data.

Hawk acknowledges that no third-party verification service provides a complete and unconditional guarantee of the accuracy of underlying trade data, as such services are dependent on the accuracy of the data submitted to them. Hawk supplements third-party verification with its own internal data governance procedures to ensure that the data submitted for verification is complete, accurate, and consistent with Hawk's own records.

Prospective licensing counterparties and parties conducting due diligence on Hawk's performance data may, subject to execution of appropriate confidentiality arrangements, request access to additional trade-level data to support their independent verification processes. Hawk will consider such requests on a case-by-case basis and in accordance with its data governance and confidentiality obligations.