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Understanding Trading Performance

Last updated: April 2026  ·  vayoracapital.com

We want every client to have a realistic understanding of what algorithmic trading involves before they invest. This page is not legal small print — it is a straightforward explanation of how performance works, what to expect, and what not to expect.

Algorithmic Trading Is Not a Savings Account

Algorithmic trading is not a fixed-return product. There is no guaranteed monthly profit, no promised annual return, and no mechanism that makes every month positive. Our strategies are designed to generate returns over time, but individual months will vary — some will be profitable, some will be flat, and some will be negative.

If you are looking for a product that pays a fixed return every month without risk, algorithmic trading is not the right product for you.

What "Target Return" Means

When we refer to a target annual return of +30%, this is a performance objective based on historical strategy data and forward-looking modelling. It is not a promise, a guarantee, or a contractual obligation. Actual returns in any given year may be higher, lower, or negative.

What the High Water Mark Means

Performance fees are only charged when your account reaches a new peak value above the previous high water mark. This means: if your account loses value in a given period, you pay no performance fee until those losses are fully recovered and the account reaches a new all-time high.

This structure aligns our interests with yours — we only earn when you earn.

Drawdown — What It Is and Why It Happens

Drawdown refers to a decline in account value from a recent peak. All trading strategies experience drawdown — it is a normal and expected part of algorithmic trading, not a sign that something has gone wrong. What matters is how drawdown is managed and recovered.

Our strategies include a hard stop loss mechanism at approximately 25% drawdown at the account level, monitored by London & Eastern LLP, to limit the maximum loss in any given period. This does not eliminate risk but provides a defined outer boundary.

Month-to-Month Variability Is Normal

Do not evaluate algorithmic trading performance on a single month. Markets go through cycles — trending periods, ranging periods, and periods of high volatility — and different conditions affect different strategies differently. Performance should be evaluated over a minimum of 6 to 12 months to get a meaningful picture.

Past Performance Is Not a Guide to the Future

Any performance data we share — whether from backtesting, live trading history, or example scenarios — reflects what happened in specific market conditions during a specific period. Those conditions will not repeat identically. Past performance is not a reliable indicator of future results.

What You Should Do Before Investing

  • Read all legal documents provided during the onboarding process
  • Complete the suitability form as part of the onboarding process
  • Speak with an independent financial adviser if you are unsure whether this product is right for you
  • Only invest capital you can afford to have at risk

Questions?

If anything on this page is unclear, or you want to discuss how our strategies work before making a decision, book a discovery call. We would rather answer your questions now than have a misunderstanding later.

Risk WarningTrading foreign exchange (forex), contracts for difference (CFDs), and other leveraged financial instruments carries a high level of risk and may not be suitable for all investors. You may lose some or all of your invested capital. Past performance is not indicative of future results. All performance figures shown on this website are illustrative and hypothetical. Vayora Capital does not provide personalised financial advice. This website is for informational purposes only and does not constitute a solicitation or offer to buy or sell any financial instrument.

Primary — London & Eastern LLP

Authorised and regulated by the Financial Conduct Authority (FCA), United Kingdom. Firm Reference Number (FRN): 534484. Registered address: 8 Hermitage Street, London, W2 1BE, United Kingdom. Vayora Capital operates under the regulatory framework of London & Eastern LLP.

Secondary — Pelican Exchange (Mauritius) Ltd

Also known as Graphite Financial Solutions Limited. Licensed by the Financial Services Commission (FSC) of Mauritius as an Investment Dealer (Full Service Dealer excluding Underwriting), Licence No. SEC-2.1B, licence date 28 July 2025. Also regulated by the Cyprus Securities and Exchange Commission (CySEC). Registered address: Reduit Road Iconebene, Level 1, Ebene Cybercity, Mauritius. London & Eastern LLP operates under a licence arrangement with Pelican Exchange (Mauritius) Ltd.

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