Buffalo Q
(136878061)
Subscription terms. Subscriptions to this system cost $50.00 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.
Trendfollowing
Tries to take advantage of long, medium or shortterm moves that seem to play out in various markets. Typically, trendfollowing analysis is backward looking; that is, it attempts to recognize and profit from alreadyestablished trends.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 Cumulative Rate of Return is calculated
= (Ending_equity  Starting_equity) / Starting_equity
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  

2021  +14.7%  (10.3%)  +28.0%  +5.6%  (1.4%)  +37.1% 
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  $50,000  
Buy Power  $29,340  
Cash  $1  
Equity  $1  
Cumulative $  $18,916  
Includes dividends and cashsettled expirations:  $34  Itemized 
Total System Equity  $68,916  
Margined  $1  
Open P/L  $12,885  
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 began8/9/2021

Suggested Minimum Cap$15,000

Strategy Age (days)116.79

Age117 days ago

What it tradesStocks

# Trades23

# Profitable16

% Profitable69.60%

Avg trade duration36.7 days

Max peaktovalley drawdown16.84%

drawdown periodSept 03, 2021  Oct 04, 2021

Cumul. Return37.1%

Avg win$1,455

Avg loss$957.43
 Model Account Values (Raw)

Cash$17,388

Margin Used$0

Buying Power$29,340
 Ratios

W:L ratio3.49:1

Sharpe Ratio2.85

Sortino Ratio4.56

Calmar Ratio10.957
 CORRELATION STATISTICS

Return of Strat Pcnt  Return of SP500 Pcnt (cumu)34.74%

Correlation to SP5000.53920

Return Percent SP500 (cumu) during strategy life2.39%
 Return Statistics

Ann Return (w trading costs)162.0%
 Slump

Current Slump as Pcnt Equity6.20%
 Instruments

Percent Trades Futuresn/a
 Slump

Current Slump, time of slump as pcnt of strategy life0.12%
 Instruments

Short Options  Percent Covered100.00%
 Return Statistics

Return Pcnt (Compound or Annual, agebased, NFA compliant)0.371%
 Instruments

Percent Trades Optionsn/a

Percent Trades Stocks1.00%

Percent Trades Forexn/a
 Return Statistics

Ann Return (Compnd, No Fees)170.3%
 Risk of Ruin (MonteCarlo)

Chance of 10% account loss8.00%

Chance of 20% account lossn/a

Chance of 30% account lossn/a

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)864

Popularity (Last 6 weeks)927
 Trading Style

Any stock shorts? 0/10
 Popularity

C2 Score934

Popularity (7 days, Percentile 1000 scale)936
 Management

No Subs Allowed Flag (1: no subs)0

Strat abandoned?0
 TradesOwnSystem Certification

Trades Own System?

TOS percentn/a
 Win / Loss

Avg Loss$957

Avg Win$1,599

Sum Trade PL (losers)$6,702.000
 AUM

AUM (AutoTrader num accounts)2
 Age

Num Months filled monthly returns table5
 Win / Loss

Sum Trade PL (winners)$25,584.000

# Winners16

Num Months Winners3
 Dividends

Dividends Received in Model Acct34
 AUM

AUM (AutoTrader live capital)137903
 Win / Loss

# Losers7

% Winners69.6%
 Frequency

Avg Position Time (mins)52880.00

Avg Position Time (hrs)881.33

Avg Trade Length36.7 days

Last Trade Ago3
 Leverage

Daily leverage (average)1.45

Daily leverage (max)2.08
 Regression

Alpha0.25

Beta1.32

Treynor Index0.21
 Maximum Adverse Excursion (MAE)

MAE:Equity, average, all trades0.01

MAE:PL  worst single value for strategy

MAE:PL (avg, winning trades)

MAE:PL (avg, losing trades)

MAE:PL (avg, all trades)0.21

MAE:Equity, average, winning trades0.01

MAE:Equity, average, losing trades0.02

Avg(MAE) / Avg(PL)  All trades1.053

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 trades0.381

Avg(MAE) / Avg(PL)  Losing trades1.044

HoldandHope Ratio1.207
 Analysis based on MONTHLY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean1.56815

SD0.74843

Sharpe ratio (Glass type estimate)2.09526

Sharpe ratio (Hedges UMVUE)1.18212

df2.00000

t1.04763

p0.20237

Lowerbound of 95% confidence interval for Sharpe Ratio2.44509

Upperbound of 95% confidence interval for Sharpe Ratio6.27075

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation2.90540

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation5.26965
 Statistics related to Sortino ratio

Sortino ratio8.07341

Upside Potential Ratio10.07340

Upside part of mean1.95663

Downside part of mean0.38847

Upside SD0.73528

Downside SD0.19424

N nonnegative terms2.00000

N negative terms1.00000
 Statistics related to linear regression on benchmark

N of observations3.00000

Mean of predictor0.20477

Mean of criterion1.56815

SD of predictor0.16304

SD of criterion0.74843

Covariance0.12113

r0.99266

b (slope, estimate of beta)4.55673

a (intercept, estimate of alpha)0.63506

Mean Square Error0.01638

DF error1.00000

t(b)8.20910

p(b)0.03859

t(a)2.26741

p(a)0.13222

Lowerbound of 95% confidence interval for beta2.49627

Upperbound of 95% confidence interval for beta11.60970

Lowerbound of 95% confidence interval for alpha2.92369

Upperbound of 95% confidence interval for alpha4.19381

Treynor index (mean / b)0.34414

Jensen alpha (a)0.63506
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean1.31905

SD0.68115

Sharpe ratio (Glass type estimate)1.93652

Sharpe ratio (Hedges UMVUE)1.09256

df2.00000

t0.96826

p0.21753

Lowerbound of 95% confidence interval for Sharpe Ratio2.53530

Upperbound of 95% confidence interval for Sharpe Ratio6.05833

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation2.97096

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation5.15608
 Statistics related to Sortino ratio

Sortino ratio6.47139

Upside Potential Ratio8.47139

Upside part of mean1.72671

Downside part of mean0.40766

Upside SD0.64246

Downside SD0.20383

N nonnegative terms2.00000

N negative terms1.00000
 Statistics related to linear regression on benchmark

N of observations3.00000

Mean of predictor0.19405

Mean of criterion1.31905

SD of predictor0.15996

SD of criterion0.68115

Covariance0.10757

r0.98727

b (slope, estimate of beta)4.20415

a (intercept, estimate of alpha)0.50323

Mean Square Error0.02347

DF error1.00000

t(b)6.20808

p(b)0.05084

t(a)1.50951

p(a)0.18624

Lowerbound of 95% confidence interval for beta4.40057

Upperbound of 95% confidence interval for beta12.80890

Lowerbound of 95% confidence interval for alpha3.73272

Upperbound of 95% confidence interval for alpha4.73919

Treynor index (mean / b)0.31375

Jensen alpha (a)0.50323
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.19225

Expected Shortfall on VaR0.25405
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.05894

Expected Shortfall on VaR0.11096
 ORDER STATISTICS
 Quartiles of return rates

Number of observations3.00000

Minimum0.90521

Quartile 11.03201

Median1.15882

Quartile 31.24691

Maximum1.33500

Mean of quarter 10.90521

Mean of quarter 21.15882

Mean of quarter 30.00000

Mean of quarter 41.33500

Inter Quartile Range0.21489

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)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
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations1.00000

Minimum0.09479

Quartile 10.09479

Median0.09479

Quartile 30.09479

Maximum0.09479

Mean of quarter 10.00000

Mean of quarter 20.00000

Mean of quarter 30.00000

Mean of quarter 40.00000

Inter Quartile Range0.00000

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)1.60150

Compounded annual return (geometric extrapolation)2.84571

Calmar ratio (compounded annual return / max draw down)30.02120

Compounded annual return / average of 25% largest draw downs0.00000

Compounded annual return / Expected Shortfall lognormal11.20150

0.00000

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

Mean1.01095

SD0.29600

Sharpe ratio (Glass type estimate)3.41541

Sharpe ratio (Hedges UMVUE)3.38446

df83.00000

t1.93389

p0.02827

Lowerbound of 95% confidence interval for Sharpe Ratio0.09472

Upperbound of 95% confidence interval for Sharpe Ratio6.90556

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.11508

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.88399
 Statistics related to Sortino ratio

Sortino ratio5.72969

Upside Potential Ratio13.86420

Upside part of mean2.44621

Downside part of mean1.43526

Upside SD0.24360

Downside SD0.17644

N nonnegative terms49.00000

N negative terms35.00000
 Statistics related to linear regression on benchmark

N of observations84.00000

Mean of predictor0.05330

Mean of criterion1.01095

SD of predictor0.12240

SD of criterion0.29600

Covariance0.01961

r0.54140

b (slope, estimate of beta)1.30929

a (intercept, estimate of alpha)0.94100

Mean Square Error0.06269

DF error82.00000

t(b)5.83108

p(b)0.00000

t(a)2.12767

p(a)0.01818

Lowerbound of 95% confidence interval for beta0.86262

Upperbound of 95% confidence interval for beta1.75597

Lowerbound of 95% confidence interval for alpha0.06120

Upperbound of 95% confidence interval for alpha1.82114

Treynor index (mean / b)0.77213

Jensen alpha (a)0.94117
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.96591

SD0.29509

Sharpe ratio (Glass type estimate)3.27322

Sharpe ratio (Hedges UMVUE)3.24356

df83.00000

t1.85338

p0.03369

Lowerbound of 95% confidence interval for Sharpe Ratio0.23337

Upperbound of 95% confidence interval for Sharpe Ratio6.76062

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.25289

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.74000
 Statistics related to Sortino ratio

Sortino ratio5.39233

Upside Potential Ratio13.49270

Upside part of mean2.41690

Downside part of mean1.45099

Upside SD0.23983

Downside SD0.17913

N nonnegative terms49.00000

N negative terms35.00000
 Statistics related to linear regression on benchmark

N of observations84.00000

Mean of predictor0.04586

Mean of criterion0.96591

SD of predictor0.12269

SD of criterion0.29509

Covariance0.01968

r0.54357

b (slope, estimate of beta)1.30735

a (intercept, estimate of alpha)0.90595

Mean Square Error0.06210

DF error82.00000

t(b)5.86428

p(b)0.00000

t(a)2.05795

p(a)0.02139

Lowerbound of 95% confidence interval for beta0.86386

Upperbound of 95% confidence interval for beta1.75084

Lowerbound of 95% confidence interval for alpha0.03021

Upperbound of 95% confidence interval for alpha1.78168

Treynor index (mean / b)0.73882

Jensen alpha (a)0.90595
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.02596

Expected Shortfall on VaR0.03333
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.01126

Expected Shortfall on VaR0.02232
 ORDER STATISTICS
 Quartiles of return rates

Number of observations84.00000

Minimum0.94752

Quartile 10.99111

Median1.00511

Quartile 31.01511

Maximum1.05132

Mean of quarter 10.98101

Mean of quarter 20.99829

Mean of quarter 31.01018

Mean of quarter 41.02639

Inter Quartile Range0.02401

Number outliers low1.00000

Percentage of outliers low0.01190

Mean of outliers low0.94752

Number of outliers high1.00000

Percentage of outliers high0.01190

Mean of outliers high1.05132
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.01837

VaR(95%) (moments method)0.01874

Expected Shortfall (moments method)0.02498

Extreme Value Index (regression method)0.15601

VaR(95%) (regression method)0.02081

Expected Shortfall (regression method)0.02629
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations7.00000

Minimum0.00143

Quartile 10.00262

Median0.03149

Quartile 30.04351

Maximum0.15529

Mean of quarter 10.00198

Mean of quarter 20.01710

Mean of quarter 30.03272

Mean of quarter 40.10479

Inter Quartile Range0.04089

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high1.00000

Percentage of outliers high0.14286

Mean of outliers high0.15529
 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)1.17038

Compounded annual return (geometric extrapolation)1.70151

Calmar ratio (compounded annual return / max draw down)10.95730

Compounded annual return / average of 25% largest draw downs16.23730

Compounded annual return / Expected Shortfall lognormal51.05420
 Analysis based on DAILY values, last 6 months only
 RATIO STATISTICS
 Ratio statistics of excess log return rates
 Statistics related to linear regression on benchmark

VAR (95 Confidence Intrvl)0.02600
 DRAW DOWN STATISTICS
 Risk estimates based on draw downs (based on Extreme Value T
 assuming Pareto losses only (using partial moments from Sortino statistics)

Last 4 Months  Pcnt Negative0.50%

Strat Max DD how much worse than SP500 max DD during strat life?318618000

Max Equity Drawdown (num days)31
Strategy Description
****It is FREE to add this strategy to your Watch List or to start Simulate.
If you have questions about my strategy, feel free to reach me out by email buffaloasset@gmail.com.

Main difference between our two strategies
………………..............…………...Buffalo………….........……Buffalo Q...............
Focus:…………...........…………US largecap stocks…..US tech stocks.....
Equity holding:………….......10 to 20…………......……5 to 10...................
Average trade per month:12…………..........………….6.............................
Average holding time:…....1.5 month……….....…….1.5 month.............
Average leverage:………......1.3…………………..........…1.4..........................
Return:....…………………….....Moderate……….....……..High.......................
Risk:....……………….........…….Moderate……….....……..High.......................

****Description of strategy "Buffalo Q" ****
Although this strategy only deployed on Colletive2 in August 2021, I have been backtesting, optimising, and tracking realtime performance of this model for years. I saw promising results. I know it is weak to say how good our strategy is without having a Collective2 solid tracking record. You may want to wait for six months or more before subscription. However, if you are reading, add this strategy to your Watch List or start Simulate, it is free to do so. Track it for six months and see the result.
1. Summary
This strategy focuses on technology section and holds companies that have the most upward momentum.
2. Objective
To achieve an outsized return higher than SPX500 over the long term, with a lower maximum drawback.
3. System description
The theory behind this model is momentum. Stocks that have risen in the past tend to keep rising. Stocks that have done poorly tend to keep falling. Stocks that have the most upward momentum beat the market.
This strategy is fully algorithm based. It uses a diverse set of factors and multiple performance windows to rank assets from an asset pool. It only holds the top bestperforming assets. The performance of each asset will be reviewed monthly. Generally, changes in asset allocation happen once a month especially on the last trading day of each month. At the time when there is no asset meeting its criteria, it simply holds cash.
To ensure best performance and avoid lack of liquidity, our asset pool is composed of carefully selected mediumlarge US stocks, index ETFs and Bond ETFs.
4. Key Features:
Fully algorithm based
Designed to scale up
Average 1.5 months holding time
Average 6 trades each month
Mediumlarge stocks and ETFs only strategy
Longonly strategy
AutoTrade (recommended, hasslefree) or manual.
Sophisticated risk management
5. Risk management
The following defensive strategy is used to protecting profits.
a. Hold and be patient. Keep a close eye on the market.
b. Close risky positions.
c. Reduce leverage
d. Add hedges to the portfolio, including Inverse ETFs and Bond ETFs.
Stop Loss is used and will be updated regularly as well.
********************************************************************************************************
FAQs
1. Should I copy open trades?
Yes
2. What is the minimum amount I should copy?
For AutoTraders, the recommended minimum amount is $20000 otherwise you may not 100% copy all my trades. Why? First, some stocks are not cheap. e.g. AMZN $3300/share, GOOGL $2800/share. Second, C2 AutoTrade rounds down fractions.
For manual traders, if your broker has fractional trading available, a minimum amount of $1000 will do, otherwise recommended minimum amount is $20000.
3. When is the best time to start copying?
The best time is now. You have to enter the market, in order to beat the market. As a longterm investor, the daily movements in markets will ultimately have a marginal effect on your returns.
4. Does this system need to be AutoTraded?
AutoTrade is recommended, hasslefree.
Manual trading also works.
As we know that AutoTrade is not supported by all brokers, you can copy my positions manually. Signals will be sent by C2 systemgenerated emails at the same time when I enter/close positions. You could simply copy my trade at market price. It is been backtested that there is not much difference in returns between trading by using end of day price and trading by using the next day open price. Manual trading may have a little advantage which is you could 100% copy my portfolio if your broker has fractional trading available. Why? Because C2 AutoTrade rounds down fractions.
For manual traders, make sure you have C2 signal alerts turned on. Refer to https://support.collective2.com/hc/enus/articles/115013734467CanIreceiverealtimesignalalerts
5. Do you short stocks?
No.
6. Do you use leverage?
Yes, average 1.5 leverage
7. Do you use Stops?
Yes, our strategy has a 20% Stop Loss at portfolio level, and will be updated regularly.
8. How do I set up Auto Stop Loss?
Choose "No custom stop loss. Follow strategy rules." (Recommended)
If you want to set up a custom stop loss, make it as more than 30% of every position. A stoploss that is too small pretty much guarantees you to sell at the worst time possible. We use inverse ETFs and bond ETFs to protect our positions when necessary. Follow our strategy rules. Don't panic sell. The last thing you want is for your positions to be sold when the market crashes.
9. Which account type should I have?
Your account must have permission to trade stocks (Long) and ETF(Long). We may buy inverse ETFs (e.g. SH, PSQ) to hedge against market crashes but we DO NOT short stocks.
1). Margin account is recommended. (Recommend 100% AutoTrade Scaling)
2). Nonmargin account including Cash account, Individual Retirement Account (IRA) or SelfManaged Superannuation Fund account (SMSF) also works. HOWEVER, as we know, these accounts don't allow you to borrow funds. As my strategy uses an average 1.5X leverage, please set your AutoTrade Scaling as 60% or under, otherwise, you may not copy all my positions or you may exceed your account limit.
10. How much scaling should I use?
1). For margin account holders, recommended Scaling= (the amount you wish to allocate / my model account equity)*100%.
Example:
Strategy’s current Model Account equity is $50,000.
You wish to allocate $40,000 to my strategy.
You might consider doing the following: set your AutoTrade Scaling to 80% = 40000/50000*100%.
2). For nonmargin account holders, recommended Scaling= (the amount you wish to allocate / my model account equity)*100%*60%.
Our strategy uses 1.5x leverage, you cannot borrow funds and you do not want to exceed your account limit.
Example:
Strategy’s current Model Account equity is $50,000.
You wish to allocate $40,000 to my strategy.
You might consider doing the following: set your AutoTrade Scaling to 48% = (40000/50000)*100%*60%.
About Scaling, refer to https://support.collective2.com/hc/enus/articles/115008510008AutoTradeSettingScalingHowbigorsmallshouldImakemyscaling
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.