Aduna Capital
(129695001)
Subscription terms. Subscriptions to this system cost $30.00 per month.
C2Star
C2Star is a certification program for trading strategies. In order to become "C2Star Certified," a strategy must apply tight risk controls, and must exhibit excellent performance characteristics, including low drawdowns.
You can read more about C2Star certification requirements here.
Note that: all trading strategies are risky, and C2Star Certification does not imply that a strategy is low risk.
Momentum
Aims to capitalize on the continuance of existing trends in the market. Trader takes a long position in an asset in an upward trend, and shortsells a security that has been in a downward trend. While similar to Trendfollowing, tends to be more forwardlooking (predicting oncoming trend), while Momentum is more backwardlooking (observing alreadyestablished price direction).Sector Rotation
Uses the proceeds from the sale of securities related to a particular investment sector for the purchase of securities in another sector. This strategy is used as a method for capturing returns from market cycles and diversifying holdings over a specified holding period.Rate of Return Calculations
Overview
To comply with NFA regulations, we display Cumulative Rate of Return for strategies with a track record of less than one year. For strategies with longer track records, we display Annualized (Compounded) Rate of Return.
How Annualized (Compounded) Rate of Return is calculated
= ((Ending_equity / Starting_equity) ^ (1 / age_in_years))  1
Remember that, following NFA requirements, strategy subscription costs and estimated commissions are included in markedtomarket equity calculations.
All results are hypothetical.
Jan  Feb  Mar  Apr  May  Jun  Jul  Aug  Sep  Oct  Nov  Dec  YTD  

2020  (0.7%)  +6.5%  +15.8%  (8.2%)  (1.1%)  +27.4%  +13.5%  +60.7%  
2021  +1.1%  +8.8%  +6.7%  +7.4%  (4.9%)  +0.1%  +2.9%  +6.7%  (5.6%)  +24.5% 
Model Account Details
A trading strategy on Collective2. Follow it in your broker account, or use a free simulated trading account.
Advanced users may want to use this information to adjust their AutoTrade scaling, or merely to understand the magnitudes of the nearby chart.
Started  $100,000  
Buy Power  $54,732  
Cash  $1  
Equity  $1  
Cumulative $  $101,275  
Includes dividends and cashsettled expirations:  $4,737  Itemized 
Total System Equity  $201,275  
Margined  $1  
Open P/L  $60,103  
Data has been delayed by 168 hours for nonsubscribers 
System developer has asked us to delay this information by 168 hours.
Trading Record
Statistics

Strategy began6/22/2020

Suggested Minimum Cap$30,000

Strategy Age (days)460.26

Age15 months ago

What it tradesStocks

# Trades143

# Profitable110

% Profitable76.90%

Avg trade duration153.2 days

Max peaktovalley drawdown22.02%

drawdown periodSept 07, 2021  Sept 21, 2021

Annual Return (Compounded)72.6%

Avg win$929.61

Avg loss$608.18
 Model Account Values (Raw)

Cash$931

Margin Used$0

Buying Power$54,732
 Ratios

W:L ratio5.57:1

Sharpe Ratio1.88

Sortino Ratio2.84

Calmar Ratio5.339
 CORRELATION STATISTICS

Return of Strat Pcnt  Return of SP500 Pcnt (cumu)57.14%

Correlation to SP5000.48850

Return Percent SP500 (cumu) during strategy life42.90%
 Return Statistics

Ann Return (w trading costs)72.6%
 Slump

Current Slump as Pcnt Equity9.80%
 Instruments

Percent Trades Futures0.01%
 Slump

Current Slump, time of slump as pcnt of strategy life0.04%
 Instruments

Short Options  Percent Covered100.00%
 Return Statistics

Return Pcnt (Compound or Annual, agebased, NFA compliant)0.726%
 Instruments

Percent Trades Options0.01%

Percent Trades Stocks0.98%

Percent Trades Forexn/a
 Return Statistics

Ann Return (Compnd, No Fees)73.9%
 Risk of Ruin (MonteCarlo)

Chance of 10% account loss30.00%

Chance of 20% account loss6.00%

Chance of 30% account loss1.00%

Chance of 40% account lossn/a

Chance of 60% account loss (Monte Carlo)n/a

Chance of 70% account loss (Monte Carlo)n/a

Chance of 80% account loss (Monte Carlo)n/a

Chance of 90% account loss (Monte Carlo)n/a
 Automation

Percentage Signals Automatedn/a
 Risk of Ruin (MonteCarlo)

Chance of 50% account lossn/a
 Popularity

Popularity (Today)803

Popularity (Last 6 weeks)928
 Trading Style

Any stock shorts? 0/10
 Popularity

Popularity (7 days, Percentile 1000 scale)729
 Management

No Subs Allowed Flag (1: no subs)0

Strat abandoned?0
 TradesOwnSystem Certification

Trades Own System?

TOS percentn/a
 Win / Loss

Avg Loss$608

Avg Win$1,060

Sum Trade PL (losers)$20,070.000
 AUM

AUM (AutoTrader num accounts)4
 Age

Num Months filled monthly returns table16
 Win / Loss

Sum Trade PL (winners)$116,606.000

# Winners110

Num Months Winners11
 Dividends

Dividends Received in Model Acct4738
 AUM

AUM (AutoTrader live capital)315151
 Win / Loss

# Losers33

% Winners76.9%
 Frequency

Avg Position Time (mins)220641.00

Avg Position Time (hrs)3677.36

Avg Trade Length153.2 days

Last Trade Ago24
 Leverage

Daily leverage (average)1.51

Daily leverage (max)2.28
 Regression

Alpha0.09

Beta0.82

Treynor Index0.19
 Maximum Adverse Excursion (MAE)

MAE:Equity, average, all trades0.00

MAE:PL  worst single value for strategy

MAE:PL (avg, winning trades)

MAE:PL (avg, losing trades)

MAE:PL (avg, all trades)3.24

MAE:Equity, average, winning trades0.00

MAE:Equity, average, losing trades0.01

Avg(MAE) / Avg(PL)  All trades0.716

MAE:Equity, losing trades only, 95th Percentile Value for this strat

MAE:Equity, win trades only, 95th Percentile Value for this strat

MAE:Equity, 95th Percentile Value for this strat0.01

Avg(MAE) / Avg(PL)  Winning trades0.266

Avg(MAE) / Avg(PL)  Losing trades1.460

HoldandHope Ratio1.710
 Analysis based on MONTHLY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.63509

SD0.21657

Sharpe ratio (Glass type estimate)2.93253

Sharpe ratio (Hedges UMVUE)2.75946

df13.00000

t3.16749

p0.11273

Lowerbound of 95% confidence interval for Sharpe Ratio0.76186

Upperbound of 95% confidence interval for Sharpe Ratio5.02213

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.65762

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.86130
 Statistics related to Sortino ratio

Sortino ratio12.13590

Upside Potential Ratio13.96850

Upside part of mean0.73099

Downside part of mean0.09590

Upside SD0.27281

Downside SD0.05233

N nonnegative terms10.00000

N negative terms4.00000
 Statistics related to linear regression on benchmark

N of observations14.00000

Mean of predictor0.28723

Mean of criterion0.63509

SD of predictor0.07221

SD of criterion0.21657

Covariance0.01037

r0.66332

b (slope, estimate of beta)1.98931

a (intercept, estimate of alpha)0.06369

Mean Square Error0.02845

DF error12.00000

t(b)3.07054

p(b)0.16834

t(a)0.26216

p(a)0.46227

Lowerbound of 95% confidence interval for beta0.57772

Upperbound of 95% confidence interval for beta3.40089

Lowerbound of 95% confidence interval for alpha0.46562

Upperbound of 95% confidence interval for alpha0.59300

Treynor index (mean / b)0.31925

Jensen alpha (a)0.06369
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.59781

SD0.20591

Sharpe ratio (Glass type estimate)2.90326

Sharpe ratio (Hedges UMVUE)2.73192

df13.00000

t3.13588

p0.11452

Lowerbound of 95% confidence interval for Sharpe Ratio0.73860

Upperbound of 95% confidence interval for Sharpe Ratio4.98722

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.63540

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.82843
 Statistics related to Sortino ratio

Sortino ratio11.28290

Upside Potential Ratio13.11500

Upside part of mean0.69488

Downside part of mean0.09707

Upside SD0.25757

Downside SD0.05298

N nonnegative terms10.00000

N negative terms4.00000
 Statistics related to linear regression on benchmark

N of observations14.00000

Mean of predictor0.28087

Mean of criterion0.59781

SD of predictor0.07101

SD of criterion0.20591

Covariance0.00988

r0.67562

b (slope, estimate of beta)1.95921

a (intercept, estimate of alpha)0.04753

Mean Square Error0.02497

DF error12.00000

t(b)3.17449

p(b)0.16219

t(a)0.20953

p(a)0.46981

Lowerbound of 95% confidence interval for beta0.61450

Upperbound of 95% confidence interval for beta3.30391

Lowerbound of 95% confidence interval for alpha0.44668

Upperbound of 95% confidence interval for alpha0.54173

Treynor index (mean / b)0.30513

Jensen alpha (a)0.04753
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.04682

Expected Shortfall on VaR0.06998
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.01277

Expected Shortfall on VaR0.02639
 ORDER STATISTICS
 Quartiles of return rates

Number of observations14.00000

Minimum0.96878

Quartile 10.99086

Median1.06702

Quartile 31.09626

Maximum1.17173

Mean of quarter 10.97436

Mean of quarter 21.04921

Mean of quarter 31.07838

Mean of quarter 41.12333

Inter Quartile Range0.10540

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high0.00000

Percentage of outliers high0.00000

Mean of outliers high0.00000
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)1.36358

VaR(95%) (moments method)0.02895

Expected Shortfall (moments method)0.02970

Extreme Value Index (regression method)0.59797

VaR(95%) (regression method)0.03097

Expected Shortfall (regression method)0.03318
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations3.00000

Minimum0.02083

Quartile 10.02602

Median0.03122

Quartile 30.04056

Maximum0.04989

Mean of quarter 10.02083

Mean of quarter 20.03122

Mean of quarter 30.00000

Mean of quarter 40.04989

Inter Quartile Range0.01453

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high0.00000

Percentage of outliers high0.00000

Mean of outliers high0.00000
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.00000

VaR(95%) (moments method)0.00000

Expected Shortfall (moments method)0.00000

Extreme Value Index (regression method)0.00000

VaR(95%) (regression method)0.00000

Expected Shortfall (regression method)0.00000
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.92151

Compounded annual return (geometric extrapolation)0.86959

Calmar ratio (compounded annual return / max draw down)17.42890

Compounded annual return / average of 25% largest draw downs17.42890

Compounded annual return / Expected Shortfall lognormal12.42590

0.00000

0.00000
 Analysis based on DAILY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.56815

SD0.25319

Sharpe ratio (Glass type estimate)2.24397

Sharpe ratio (Hedges UMVUE)2.23880

df326.00000

t2.50692

p0.00633

Lowerbound of 95% confidence interval for Sharpe Ratio0.47950

Upperbound of 95% confidence interval for Sharpe Ratio4.00509

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.47602

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.00158
 Statistics related to Sortino ratio

Sortino ratio3.45284

Upside Potential Ratio10.92510

Upside part of mean1.79768

Downside part of mean1.22953

Upside SD0.19510

Downside SD0.16454

N nonnegative terms199.00000

N negative terms128.00000
 Statistics related to linear regression on benchmark

N of observations327.00000

Mean of predictor0.26924

Mean of criterion0.56815

SD of predictor0.14808

SD of criterion0.25319

Covariance0.01711

r0.45648

b (slope, estimate of beta)0.78049

a (intercept, estimate of alpha)0.35800

Mean Square Error0.05090

DF error325.00000

t(b)9.24909

p(b)0.00000

t(a)1.76162

p(a)0.03954

Lowerbound of 95% confidence interval for beta0.61448

Upperbound of 95% confidence interval for beta0.94650

Lowerbound of 95% confidence interval for alpha0.04180

Upperbound of 95% confidence interval for alpha0.75782

Treynor index (mean / b)0.72794

Jensen alpha (a)0.35801
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.53567

SD0.25258

Sharpe ratio (Glass type estimate)2.12078

Sharpe ratio (Hedges UMVUE)2.11590

df326.00000

t2.36930

p0.00920

Lowerbound of 95% confidence interval for Sharpe Ratio0.35731

Upperbound of 95% confidence interval for Sharpe Ratio3.88110

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.35402

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation3.87779
 Statistics related to Sortino ratio

Sortino ratio3.20593

Upside Potential Ratio10.64640

Upside part of mean1.77889

Downside part of mean1.24321

Upside SD0.19178

Downside SD0.16709

N nonnegative terms199.00000

N negative terms128.00000
 Statistics related to linear regression on benchmark

N of observations327.00000

Mean of predictor0.25812

Mean of criterion0.53567

SD of predictor0.14840

SD of criterion0.25258

Covariance0.01713

r0.45708

b (slope, estimate of beta)0.77798

a (intercept, estimate of alpha)0.33486

Mean Square Error0.05062

DF error325.00000

t(b)9.26447

p(b)0.00000

t(a)1.65312

p(a)0.04964

Lowerbound of 95% confidence interval for beta0.61278

Upperbound of 95% confidence interval for beta0.94318

Lowerbound of 95% confidence interval for alpha0.06364

Upperbound of 95% confidence interval for alpha0.73336

Treynor index (mean / b)0.68854

Jensen alpha (a)0.33486
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.02335

Expected Shortfall on VaR0.02968
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00914

Expected Shortfall on VaR0.01908
 ORDER STATISTICS
 Quartiles of return rates

Number of observations327.00000

Minimum0.94834

Quartile 10.99421

Median1.00377

Quartile 31.01016

Maximum1.08380

Mean of quarter 10.98303

Mean of quarter 20.99930

Mean of quarter 31.00674

Mean of quarter 41.02008

Inter Quartile Range0.01595

Number outliers low12.00000

Percentage of outliers low0.03670

Mean of outliers low0.96265

Number of outliers high8.00000

Percentage of outliers high0.02446

Mean of outliers high1.04660
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.17888

VaR(95%) (moments method)0.01559

Expected Shortfall (moments method)0.02414

Extreme Value Index (regression method)0.21539

VaR(95%) (regression method)0.01610

Expected Shortfall (regression method)0.02050
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations30.00000

Minimum0.00072

Quartile 10.00331

Median0.01272

Quartile 30.03073

Maximum0.14178

Mean of quarter 10.00176

Mean of quarter 20.00694

Mean of quarter 30.01774

Mean of quarter 40.08524

Inter Quartile Range0.02742

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high5.00000

Percentage of outliers high0.16667

Mean of outliers high0.11383
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.16815

VaR(95%) (moments method)0.08118

Expected Shortfall (moments method)0.10450

Extreme Value Index (regression method)0.80403

VaR(95%) (regression method)0.08932

Expected Shortfall (regression method)0.09843
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.81774

Compounded annual return (geometric extrapolation)0.75695

Calmar ratio (compounded annual return / max draw down)5.33876

Compounded annual return / average of 25% largest draw downs8.88038

Compounded annual return / Expected Shortfall lognormal25.50610

0.00000

0.00000
 Analysis based on DAILY values, last 6 months only
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.24266

SD0.22807

Sharpe ratio (Glass type estimate)1.06400

Sharpe ratio (Hedges UMVUE)1.05785

df130.00000

t0.75236

p0.46708

Lowerbound of 95% confidence interval for Sharpe Ratio1.71276

Upperbound of 95% confidence interval for Sharpe Ratio3.83689

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation1.71694

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation3.83263
 Statistics related to Sortino ratio

Sortino ratio1.46369

Upside Potential Ratio9.14016

Upside part of mean1.51533

Downside part of mean1.27267

Upside SD0.15607

Downside SD0.16579

N nonnegative terms76.00000

N negative terms55.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.23954

Mean of criterion0.24266

SD of predictor0.10886

SD of criterion0.22807

Covariance0.00809

r0.32603

b (slope, estimate of beta)0.68305

a (intercept, estimate of alpha)0.07904

Mean Square Error0.04685

DF error129.00000

t(b)3.91700

p(b)0.29618

t(a)0.25586

p(a)0.48566

Lowerbound of 95% confidence interval for beta0.33803

Upperbound of 95% confidence interval for beta1.02807

Lowerbound of 95% confidence interval for alpha0.53218

Upperbound of 95% confidence interval for alpha0.69026

Treynor index (mean / b)0.35526

Jensen alpha (a)0.07904
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.21660

SD0.22895

Sharpe ratio (Glass type estimate)0.94604

Sharpe ratio (Hedges UMVUE)0.94057

df130.00000

t0.66895

p0.47071

Lowerbound of 95% confidence interval for Sharpe Ratio1.82997

Upperbound of 95% confidence interval for Sharpe Ratio3.71842

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation1.83359

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation3.71473
 Statistics related to Sortino ratio

Sortino ratio1.28599

Upside Potential Ratio8.92452

Upside part of mean1.50317

Downside part of mean1.28657

Upside SD0.15437

Downside SD0.16843

N nonnegative terms76.00000

N negative terms55.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.23353

Mean of criterion0.21660

SD of predictor0.10884

SD of criterion0.22895

Covariance0.00814

r0.32657

b (slope, estimate of beta)0.68695

a (intercept, estimate of alpha)0.05618

Mean Square Error0.04719

DF error129.00000

t(b)3.92424

p(b)0.29586

t(a)0.18125

p(a)0.48984

VAR (95 Confidence Intrvl)0.02300

Lowerbound of 95% confidence interval for beta0.34060

Upperbound of 95% confidence interval for beta1.03329

Lowerbound of 95% confidence interval for alpha0.55703

Upperbound of 95% confidence interval for alpha0.66938

Treynor index (mean / b)0.31531

Jensen alpha (a)0.05618
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.02219

Expected Shortfall on VaR0.02794
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00996

Expected Shortfall on VaR0.02030
 ORDER STATISTICS
 Quartiles of return rates

Number of observations131.00000

Minimum0.94834

Quartile 10.99396

Median1.00294

Quartile 31.00921

Maximum1.03657

Mean of quarter 10.98313

Mean of quarter 20.99837

Mean of quarter 31.00613

Mean of quarter 41.01665

Inter Quartile Range0.01526

Number outliers low4.00000

Percentage of outliers low0.03053

Mean of outliers low0.95963

Number of outliers high2.00000

Percentage of outliers high0.01527

Mean of outliers high1.03577
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.19882

VaR(95%) (moments method)0.01614

Expected Shortfall (moments method)0.02520

Extreme Value Index (regression method)0.13572

VaR(95%) (regression method)0.01811

Expected Shortfall (regression method)0.02759
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations6.00000

Minimum0.00461

Quartile 10.00848

Median0.02422

Quartile 30.10491

Maximum0.13230

Mean of quarter 10.00572

Mean of quarter 20.01344

Mean of quarter 30.03499

Mean of quarter 40.13026

Inter Quartile Range0.09643

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high0.00000

Percentage of outliers high0.00000

Mean of outliers high0.00000
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.00000

VaR(95%) (moments method)0.00000

Expected Shortfall (moments method)0.00000

Extreme Value Index (regression method)0.00000

VaR(95%) (regression method)0.00000

Last 4 Months  Pcnt Negative0.25%

Expected Shortfall (regression method)0.00000

Strat Max DD how much worse than SP500 max DD during strat life?374692000

Max Equity Drawdown (num days)14
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.26008

Compounded annual return (geometric extrapolation)0.27699

Calmar ratio (compounded annual return / max draw down)2.09362

Compounded annual return / average of 25% largest draw downs2.12642

Compounded annual return / Expected Shortfall lognormal9.91429
Strategy Description
Most values on this page (including the Strategy Equity Chart, above) have been adjusted by estimated trading commissions and subscription costs.
Some advanced users find it useful to see "raw" Model Account values. These numbers do not include any commissions, fees, subscription costs, or dividend actions.
Strategy developers can "archive" strategies at any time. This means the strategy Model Account is reset to its initial level and the trade list cleared. However, all archived track records are permanently preserved for evaluation by potential subscribers.
About the results you see on this Web site
Past results are not necessarily indicative of future results.
These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have underor overcompensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.
In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program, which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
Material assumptions and methods used when calculating results
The following are material assumptions used when calculating any hypothetical monthly results that appear on our web site.
 Profits are reinvested. We assume profits (when there are profits) are reinvested in the trading strategy.
 Starting investment size. For any trading strategy on our site, hypothetical results are based on the assumption that you invested the starting amount shown on the strategy's performance chart. In some cases, nominal dollar amounts on the equity chart have been rescaled downward to make current goforward trading sizes more manageable. In these cases, it may not have been possible to trade the strategy historically at the equity levels shown on the chart, and a higher minimum capital was required in the past.
 All fees are included. When calculating cumulative returns, we try to estimate and include all the fees a typical trader incurs when AutoTrading using AutoTrade technology. This includes the subscription cost of the strategy, plus any pertrade AutoTrade fees, plus estimated broker commissions if any.
 "Max Drawdown" Calculation Method. We calculate the Max Drawdown statistic as follows. Our computer software looks at the equity chart of the system in question and finds the largest percentage amount that the equity chart ever declines from a local "peak" to a subsequent point in time (thus this is formally called "Maximum Peak to Valley Drawdown.") While this is useful information when evaluating trading systems, you should keep in mind that past performance does not guarantee future results. Therefore, future drawdowns may be larger than the historical maximum drawdowns you see here.
Trading is risky
There is a substantial risk of loss in futures and forex trading. Online trading of stocks and options is extremely risky. Assume you will lose money. Don't trade with money you cannot afford to lose.
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Suggested Minimum Capital
This is our estimate of the minimum amount of capital to follow a strategy, assuming you use the smallest reasonable AutoTrade Scaling % for the strategy.