HUNTX
Begin with the observation window
A return figure needs a period, a methodology and a clear account history. Check whether deposits and withdrawals are reflected consistently. When providers have different starting dates, compare overlapping periods where possible. The size of a number alone does not explain the conditions under which it was produced.
Include the path
Drawdown, volatility and exposure describe different aspects of the journey behind the return. A smooth closed-balance chart may omit risk in open positions. Read the definitions for each measure and keep the original series available so that changes can be reviewed without relying entirely on summary cards.
Check the sample
Trade count and the variety of market conditions affect how much context a history provides. A handful of trades can produce a striking percentage with limited evidence about consistency. More observations are useful, but the quality and comparability of those observations still matter when drawing conclusions about the strategy.
Use metrics to ask questions
Metrics can guide a review, but they cannot answer every question about suitability. Look for changes in sizing, concentration or activity that deserve explanation. Combine the data with an explicit allocation plan and operational checks. Historical measurements help describe observed behaviour; they do not establish guaranteed future outcomes.
Continue with our guide to reading provider performance without promises.
Reference: FCA explanation of copy trading.