International Value
(120610209)
Subscription terms. Subscriptions to this system cost $100.00 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.
Nonhedged Equity
Predominantly long equities, although some hedging with short sales of stocks and/or stock index options. Commonly known as "stockpickers."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  

2018  (0.5%)  +0.1%  (7.1%)  (7.5%)  
2019  +14.0%  +10.6%  +5.1%  +0.4%  (4.5%)  +8.6%  +7.5%  (5.5%)  +5.9%  +8.7%  +15.1%  +8.7%  +101.8% 
2020  (9%)  (19.4%)  (45.4%)  +29.6%  +13.5%  +12.7%  +11.1%  +3.6%  (8.6%)  (30.2%) 
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  $25,000  
Buy Power  $6,312  
Cash  $1  
Equity  $1  
Cumulative $  $11,103  
Includes dividends and cashsettled expirations:  $1,918  Itemized 
Total System Equity  $36,103  
Margined  $1  
Open P/L  $9,935  
Data has been delayed by 120 hours for nonsubscribers 
System developer has asked us to delay this information by 120 hours.
Trading Record
Statistics

Strategy began10/29/2018

Suggested Minimum Cap$15,000

Strategy Age (days)694.93

Age23 months ago

What it tradesStocks

# Trades90

# Profitable60

% Profitable66.70%

Avg trade duration93.4 days

Max peaktovalley drawdown70.3%

drawdown periodJan 15, 2020  March 18, 2020

Annual Return (Compounded)14.9%

Avg win$739.72

Avg loss$1,197
 Model Account Values (Raw)

Cash$832

Margin Used$0

Buying Power$6,312
 Ratios

W:L ratio1.34:1

Sharpe Ratio0.49

Sortino Ratio0.63

Calmar Ratio0.369
 CORRELATION STATISTICS

Return of Strat Pcnt  Return of SP500 Pcnt (cumu)7.84%

Correlation to SP5000.65120

Return Percent SP500 (cumu) during strategy life22.55%
 Return Statistics

Ann Return (w trading costs)14.9%
 Slump

Current Slump as Pcnt Equity42.50%
 Instruments

Percent Trades Futuresn/a
 Slump

Current Slump, time of slump as pcnt of strategy life0.36%
 Instruments

Short Options  Percent Covered100.00%
 Return Statistics

Return Pcnt (Compound or Annual, agebased, NFA compliant)0.149%
 Instruments

Percent Trades Optionsn/a

Percent Trades Stocks1.00%

Percent Trades Forexn/a
 Return Statistics

Ann Return (Compnd, No Fees)21.2%
 Risk of Ruin (MonteCarlo)

Chance of 10% account loss10.50%

Chance of 20% account loss0.50%

Chance of 30% account lossn/a

Chance of 40% account lossn/a

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

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

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

Percentage Signals Automatedn/a
 Risk of Ruin (MonteCarlo)

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

Chance of 50% account lossn/a
 Popularity

Popularity (Today)0

Popularity (Last 6 weeks)746
 Trading Style

Any stock shorts? 0/10
 Popularity

C2 Score220

Popularity (7 days, Percentile 1000 scale)421
 Management

No Subs Allowed Flag (1: no subs)0

Strat abandoned?0
 TradesOwnSystem Certification

Trades Own System?

TOS percentn/a
 Win / Loss

Avg Loss$1,197

Avg Win$752

Sum Trade PL (losers)$35,924.000
 AUM

AUM (AutoTrader num accounts)1
 Age

Num Months filled monthly returns table24
 Win / Loss

Sum Trade PL (winners)$45,109.000

# Winners60

Num Months Winners16
 Dividends

Dividends Received in Model Acct1919
 AUM

AUM (AutoTrader live capital)59073
 Win / Loss

# Losers30

% Winners66.7%
 Frequency

Avg Position Time (mins)134414.00

Avg Position Time (hrs)2240.23

Avg Trade Length93.3 days

Last Trade Ago1
 Leverage

Daily leverage (average)1.36

Daily leverage (max)2.26
 Regression

Alpha0.03

Beta0.95

Treynor Index0.07
 Maximum Adverse Excursion (MAE)

MAE:Equity, average, all trades0.02

MAE:PL  Winning Trades  this strat Percentile of All Strats14.84

MAE:PL  worst single value for strategy

MAE:PL  Losing Trades  this strat Percentile of All Strats3.21

MAE:PL (avg, winning trades)

MAE:PL (avg, losing trades)

MAE:PL (avg, all trades)1.49

MAE:Equity, average, winning trades0.01

MAE:Equity, average, losing trades0.05

Avg(MAE) / Avg(PL)  All trades5.394

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 strat0.00

Avg(MAE) / Avg(PL)  Winning trades0.283

Avg(MAE) / Avg(PL)  Losing trades1.151

HoldandHope Ratio0.167
 Analysis based on MONTHLY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.30127

SD0.40515

Sharpe ratio (Glass type estimate)0.74360

Sharpe ratio (Hedges UMVUE)0.71667

df21.00000

t1.00684

p0.36444

Lowerbound of 95% confidence interval for Sharpe Ratio0.72966

Upperbound of 95% confidence interval for Sharpe Ratio2.19970

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.74700

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation2.18033
 Statistics related to Sortino ratio

Sortino ratio1.08183

Upside Potential Ratio2.40078

Upside part of mean0.66857

Downside part of mean0.36730

Upside SD0.29444

Downside SD0.27848

N nonnegative terms15.00000

N negative terms7.00000
 Statistics related to linear regression on benchmark

N of observations22.00000

Mean of predictor0.12676

Mean of criterion0.30127

SD of predictor0.18175

SD of criterion0.40515

Covariance0.06127

r0.83201

b (slope, estimate of beta)1.85466

a (intercept, estimate of alpha)0.06617

Mean Square Error0.05304

DF error20.00000

t(b)6.70707

p(b)0.08400

t(a)0.38099

p(a)0.45756

Lowerbound of 95% confidence interval for beta1.27784

Upperbound of 95% confidence interval for beta2.43148

Lowerbound of 95% confidence interval for alpha0.29611

Upperbound of 95% confidence interval for alpha0.42844

Treynor index (mean / b)0.16244

Jensen alpha (a)0.06617
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.21311

SD0.43313

Sharpe ratio (Glass type estimate)0.49201

Sharpe ratio (Hedges UMVUE)0.47419

df21.00000

t0.66619

p0.40873

Lowerbound of 95% confidence interval for Sharpe Ratio0.96879

Upperbound of 95% confidence interval for Sharpe Ratio1.94134

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.98042

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation1.92881
 Statistics related to Sortino ratio

Sortino ratio0.64898

Upside Potential Ratio1.91160

Upside part of mean0.62771

Downside part of mean0.41461

Upside SD0.27392

Downside SD0.32837

N nonnegative terms15.00000

N negative terms7.00000
 Statistics related to linear regression on benchmark

N of observations22.00000

Mean of predictor0.10967

Mean of criterion0.21311

SD of predictor0.18623

SD of criterion0.43313

Covariance0.06785

r0.84113

b (slope, estimate of beta)1.95630

a (intercept, estimate of alpha)0.00143

Mean Square Error0.05762

DF error20.00000

t(b)6.95544

p(b)0.07943

t(a)0.00796

p(a)0.50089

Lowerbound of 95% confidence interval for beta1.36960

Upperbound of 95% confidence interval for beta2.54300

Lowerbound of 95% confidence interval for alpha0.37678

Upperbound of 95% confidence interval for alpha0.37391

Treynor index (mean / b)0.10893

Jensen alpha (a)0.00143
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.17131

Expected Shortfall on VaR0.21266
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.04985

Expected Shortfall on VaR0.11585
 ORDER STATISTICS
 Quartiles of return rates

Number of observations22.00000

Minimum0.66993

Quartile 10.98955

Median1.02577

Quartile 31.10863

Maximum1.19611

Mean of quarter 10.89091

Mean of quarter 21.00878

Mean of quarter 31.06246

Mean of quarter 41.15031

Inter Quartile Range0.11908

Number outliers low1.00000

Percentage of outliers low0.04545

Mean of outliers low0.66993

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)0.35203

VaR(95%) (moments method)0.05361

Expected Shortfall (moments method)0.06860

Extreme Value Index (regression method)0.38145

VaR(95%) (regression method)0.18725

Expected Shortfall (regression method)0.41700
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations3.00000

Minimum0.01308

Quartile 10.03696

Median0.06084

Quartile 30.26676

Maximum0.47268

Mean of quarter 10.01308

Mean of quarter 20.06084

Mean of quarter 30.00000

Mean of quarter 40.47268

Inter Quartile Range0.22980

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)0.30305

Compounded annual return (geometric extrapolation)0.27254

Calmar ratio (compounded annual return / max draw down)0.57658

Compounded annual return / average of 25% largest draw downs0.57658

Compounded annual return / Expected Shortfall lognormal1.28157

0.00000

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

Mean0.24849

SD0.34697

Sharpe ratio (Glass type estimate)0.71618

Sharpe ratio (Hedges UMVUE)0.71508

df489.00000

t0.97942

p0.16393

Lowerbound of 95% confidence interval for Sharpe Ratio0.71802

Upperbound of 95% confidence interval for Sharpe Ratio2.14974

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.71880

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation2.14896
 Statistics related to Sortino ratio

Sortino ratio0.92362

Upside Potential Ratio6.72596

Upside part of mean1.80958

Downside part of mean1.56108

Upside SD0.21907

Downside SD0.26904

N nonnegative terms275.00000

N negative terms215.00000
 Statistics related to linear regression on benchmark

N of observations490.00000

Mean of predictor0.11780

Mean of criterion0.24849

SD of predictor0.27100

SD of criterion0.34697

Covariance0.06020

r0.64020

b (slope, estimate of beta)0.81967

a (intercept, estimate of alpha)0.15200

Mean Square Error0.07119

DF error488.00000

t(b)18.40960

p(b)0.00000

t(a)0.77846

p(a)0.21834

Lowerbound of 95% confidence interval for beta0.73218

Upperbound of 95% confidence interval for beta0.90715

Lowerbound of 95% confidence interval for alpha0.23155

Upperbound of 95% confidence interval for alpha0.53543

Treynor index (mean / b)0.30316

Jensen alpha (a)0.15194
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.18628

SD0.35601

Sharpe ratio (Glass type estimate)0.52324

Sharpe ratio (Hedges UMVUE)0.52243

df489.00000

t0.71556

p0.23730

Lowerbound of 95% confidence interval for Sharpe Ratio0.91058

Upperbound of 95% confidence interval for Sharpe Ratio1.95653

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.91112

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation1.95599
 Statistics related to Sortino ratio

Sortino ratio0.65582

Upside Potential Ratio6.28819

Upside part of mean1.78608

Downside part of mean1.59980

Upside SD0.21433

Downside SD0.28404

N nonnegative terms275.00000

N negative terms215.00000
 Statistics related to linear regression on benchmark

N of observations490.00000

Mean of predictor0.08083

Mean of criterion0.18628

SD of predictor0.27273

SD of criterion0.35601

Covariance0.06293

r0.64817

b (slope, estimate of beta)0.84610

a (intercept, estimate of alpha)0.11788

Mean Square Error0.07365

DF error488.00000

t(b)18.80330

p(b)0.00000

t(a)0.59396

p(a)0.27641

Lowerbound of 95% confidence interval for beta0.75769

Upperbound of 95% confidence interval for beta0.93451

Lowerbound of 95% confidence interval for alpha0.27208

Upperbound of 95% confidence interval for alpha0.50785

Treynor index (mean / b)0.22016

Jensen alpha (a)0.11788
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.03484

Expected Shortfall on VaR0.04364
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.01222

Expected Shortfall on VaR0.02726
 ORDER STATISTICS
 Quartiles of return rates

Number of observations490.00000

Minimum0.83572

Quartile 10.99372

Median1.00155

Quartile 31.00969

Maximum1.09589

Mean of quarter 10.97846

Mean of quarter 20.99820

Mean of quarter 31.00537

Mean of quarter 41.02219

Inter Quartile Range0.01597

Number outliers low19.00000

Percentage of outliers low0.03878

Mean of outliers low0.93623

Number of outliers high18.00000

Percentage of outliers high0.03673

Mean of outliers high1.05029
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.53437

VaR(95%) (moments method)0.02109

Expected Shortfall (moments method)0.05055

Extreme Value Index (regression method)0.50674

VaR(95%) (regression method)0.01745

Expected Shortfall (regression method)0.03799
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations34.00000

Minimum0.00015

Quartile 10.00468

Median0.00813

Quartile 30.02262

Maximum0.64736

Mean of quarter 10.00209

Mean of quarter 20.00691

Mean of quarter 30.01417

Mean of quarter 40.12499

Inter Quartile Range0.01795

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high5.00000

Percentage of outliers high0.14706

Mean of outliers high0.19913
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.88557

VaR(95%) (moments method)0.11615

Expected Shortfall (moments method)1.07844

Extreme Value Index (regression method)1.44380

VaR(95%) (regression method)0.12674

Expected Shortfall (regression method)0.00000
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.26343

Compounded annual return (geometric extrapolation)0.23885

Calmar ratio (compounded annual return / max draw down)0.36896

Compounded annual return / average of 25% largest draw downs1.91090

Compounded annual return / Expected Shortfall lognormal5.47286

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

Mean1.29556

SD0.34992

Sharpe ratio (Glass type estimate)3.70246

Sharpe ratio (Hedges UMVUE)3.68106

df130.00000

t2.61804

p0.38810

Lowerbound of 95% confidence interval for Sharpe Ratio0.88751

Upperbound of 95% confidence interval for Sharpe Ratio6.50360

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.87337

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.48875
 Statistics related to Sortino ratio

Sortino ratio7.20981

Upside Potential Ratio15.37490

Upside part of mean2.76276

Downside part of mean1.46720

Upside SD0.30923

Downside SD0.17969

N nonnegative terms79.00000

N negative terms52.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.56992

Mean of criterion1.29556

SD of predictor0.27707

SD of criterion0.34992

Covariance0.05467

r0.56394

b (slope, estimate of beta)0.71220

a (intercept, estimate of alpha)0.88966

Mean Square Error0.08415

DF error129.00000

t(b)7.75603

p(b)0.16105

t(a)2.15118

p(a)0.38222

Lowerbound of 95% confidence interval for beta0.53052

Upperbound of 95% confidence interval for beta0.89388

Lowerbound of 95% confidence interval for alpha0.07140

Upperbound of 95% confidence interval for alpha1.70792

Treynor index (mean / b)1.81908

Jensen alpha (a)0.88966
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean1.23277

SD0.34521

Sharpe ratio (Glass type estimate)3.57108

Sharpe ratio (Hedges UMVUE)3.55043

df130.00000

t2.52513

p0.39188

Lowerbound of 95% confidence interval for Sharpe Ratio0.75889

Upperbound of 95% confidence interval for Sharpe Ratio6.36995

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.74523

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.35563
 Statistics related to Sortino ratio

Sortino ratio6.75883

Upside Potential Ratio14.89240

Upside part of mean2.71629

Downside part of mean1.48352

Upside SD0.30132

Downside SD0.18239

N nonnegative terms79.00000

N negative terms52.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.53134

Mean of criterion1.23277

SD of predictor0.27635

SD of criterion0.34521

Covariance0.05388

r0.56483

b (slope, estimate of beta)0.70558

a (intercept, estimate of alpha)0.85787

Mean Square Error0.08178

DF error129.00000

t(b)7.77402

p(b)0.16058

t(a)2.10627

p(a)0.38457

VAR (95 Confidence Intrvl)0.03500

Lowerbound of 95% confidence interval for beta0.52600

Upperbound of 95% confidence interval for beta0.88515

Lowerbound of 95% confidence interval for alpha0.05203

Upperbound of 95% confidence interval for alpha1.66370

Treynor index (mean / b)1.74718

Jensen alpha (a)0.85787
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.02992

Expected Shortfall on VaR0.03849
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.01116

Expected Shortfall on VaR0.02224
 ORDER STATISTICS
 Quartiles of return rates

Number of observations131.00000

Minimum0.95155

Quartile 10.99103

Median1.00422

Quartile 31.01505

Maximum1.09589

Mean of quarter 10.98103

Mean of quarter 20.99784

Mean of quarter 31.00959

Mean of quarter 41.03187

Inter Quartile Range0.02402

Number outliers low1.00000

Percentage of outliers low0.00763

Mean of outliers low0.95155

Number of outliers high5.00000

Percentage of outliers high0.03817

Mean of outliers high1.06804
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.27566

VaR(95%) (moments method)0.02050

Expected Shortfall (moments method)0.03268

Extreme Value Index (regression method)0.15093

VaR(95%) (regression method)0.01932

Expected Shortfall (regression method)0.02770
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations15.00000

Minimum0.00526

Quartile 10.01703

Median0.02551

Quartile 30.05111

Maximum0.10301

Mean of quarter 10.00897

Mean of quarter 20.02214

Mean of quarter 30.03654

Mean of quarter 40.07055

Inter Quartile Range0.03409

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high1.00000

Percentage of outliers high0.06667

Mean of outliers high0.10301
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.04749

VaR(95%) (moments method)0.07781

Expected Shortfall (moments method)0.09410

Extreme Value Index (regression method)0.97693

VaR(95%) (regression method)0.09079

Last 4 Months  Pcnt Negative0.25%

Expected Shortfall (regression method)2.09039

Strat Max DD how much worse than SP500 max DD during strat life?315945000

Max Equity Drawdown (num days)63
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)1.75649

Compounded annual return (geometric extrapolation)2.52781

Calmar ratio (compounded annual return / max draw down)24.53990

Compounded annual return / average of 25% largest draw downs35.83070

Compounded annual return / Expected Shortfall lognormal65.66640
Strategy Description
The Strategy utilizes investments across all major market sectors with a focus on companies that have a market capitalization greater than ~$1.5B, with the majority of holdings significantly above $10B.
Margin is not required to emulate the International Value Strategy, however, we recommend investors consider enabling margin. From time to time we may incorporate small amounts of leverage in the strategy. The strategy DOES NOT sell securities short.
Trading stops are utilized to limit the downside in each position. On average the strategy's total downside risk is targeted at 1520% of the value of the total holdings, with some positions above and some positions below this average level.
While no system can guarantee riskfree or lowrisk trading, and while unforeseen events can cause you to lose money, we do make an effort to control risk.
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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Strategy is now visible
This strategy is now visible to the public. New subscribers will be able to follow it.
If you designate your strategy as Private, it will no longer be visible to the public.
No subscribers and simulations will be allowed. If you have subscribers, the strategy will still be visible to them.
If you have simulations, they will be stopped.
Continue to designate your strategy as Private?
Strategy is no longer visible
This strategy is no longer visible to anyone except current subscribers.
(Current subscribers will remain subscribed. You can see who is subscribed, and control their subscriptions, on your Subscriber Management screen.)
Finally, please note that you can restore public visibility at any time.
This strategy is no longer visible to the public. No subscribers will be allowed.
You can restore public visibility at any time.
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.