I think it's actually very good, at least it standardizes a norm, which may be very high for many people. A few decades ago, some proprietary firms on Wall Street were like this, of course, their evaluation methods were different, many were athletes switching careers, or graduates from prestigious universities.
However, he does not require you to have an extremely strong profit level in the early stages, but you need to possess some unique characteristics that he believes traders should have. However, they will have a set of training to help you grow.
In this case, if you don't make a profit, there will be no salary that month.