International Value
(120610209)
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.
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    +0.4%  (6.7%)  (6.3%)  
2019  +14.1%  +10.8%  +5.3%  +0.7%  (4.1%)  +8.7%  +7.6%  (5.2%)  +6.0%  +8.7%  +11.9%  +83.7% 
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  $14,315  
Cash  $6,194  
Equity  $8,121  
Cumulative $  $18,775  
Includes dividends and cashsettled expirations:  $878  Itemized 
Total System Equity  $43,775  
Margined  $0  
Open P/L  $8,121 
Trading Record
Statistics

Strategy began10/29/2018

Suggested Minimum Cap$15,000

Strategy Age (days)384.12

Age13 months ago

What it tradesStocks

# Trades44

# Profitable34

% Profitable77.30%

Avg trade duration140.7 days

Max peaktovalley drawdown15.74%

drawdown periodDec 04, 2018  Dec 24, 2018

Annual Return (Compounded)66.8%

Avg win$550.74

Avg loss$230.10
 Model Account Values (Raw)

Cash$6,194

Margin Used$0

Buying Power$14,315
 Ratios

W:L ratio8.90:1

Sharpe Ratio2.15

Sortino Ratio3.54

Calmar Ratio5.586
 CORRELATION STATISTICS

Return of Strat Pcnt  Return of SP500 Pcnt (cumu)54.01%

Correlation to SP5000.64660

Return Percent SP500 (cumu) during strategy life18.14%
 Return Statistics

Ann Return (w trading costs)66.8%
 Slump

Current Slump as Pcnt Equityn/a
 Instruments

Percent Trades Futuresn/a
 Slump

Current Slump, time of slump as pcnt of strategy lifen/a
 Instruments

Short Options  Percent Covered100.00%
 Return Statistics

Return Pcnt (Compound or Annual, agebased, NFA compliant)0.668%
 Instruments

Percent Trades Optionsn/a

Percent Trades Stocks1.00%

Percent Trades Forexn/a
 Return Statistics

Ann Return (Compnd, No Fees)70.0%
 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 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)966

Popularity (Last 6 weeks)976
 Trading Style

Any stock shorts? 0/10
 Popularity

C2 Score987

Popularity (7 days, Percentile 1000 scale)989
 Management

No Subs Allowed Flag (1: no subs)0

Strat abandoned?0
 TradesOwnSystem Certification

Trades Own System?

TOS percentn/a
 Win / Loss

Avg Loss$234

Avg Win$595

Sum Trade PL (losers)$2,342.000
 AUM

AUM (AutoTrader num accounts)7
 Age

Num Months (Age strategy)14
 Win / Loss

Sum Trade PL (winners)$20,241.000

# Winners34

Num Months Winners10
 Dividends

Dividends Received in Model Acct879
 AUM

AUM (AutoTrader live capital)281818
 Win / Loss

# Losers10

% Winners77.3%
 Frequency

Avg Position Time (mins)202572.00

Avg Position Time (hrs)3376.20

Avg Trade Length140.7 days

Last Trade Ago4
 Leverage

Daily leverage (average)1.37

Daily leverage (max)1.95
 Regression

Alpha0.11

Beta0.85

Treynor Index0.17
 Maximum Adverse Excursion (MAE)

MAE:Equity, average, all trades0.01

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)0.12

MAE:Equity, average, winning trades0.01

MAE:Equity, average, losing trades0.01

Avg(MAE) / Avg(PL)  All trades0.726

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 trades0.452

Avg(MAE) / Avg(PL)  Losing trades1.342

HoldandHope Ratio1.503
 Analysis based on MONTHLY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.48662

SD0.22319

Sharpe ratio (Glass type estimate)2.18030

Sharpe ratio (Hedges UMVUE)2.02760

df11.00000

t2.18030

p0.02592

Lowerbound of 95% confidence interval for Sharpe Ratio0.01682

Upperbound of 95% confidence interval for Sharpe Ratio4.29675

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.10766

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.16285
 Statistics related to Sortino ratio

Sortino ratio7.73900

Upside Potential Ratio9.02810

Upside part of mean0.56767

Downside part of mean0.08106

Upside SD0.24787

Downside SD0.06288

N nonnegative terms9.00000

N negative terms3.00000
 Statistics related to linear regression on benchmark

N of observations12.00000

Mean of predictor0.13691

Mean of criterion0.48662

SD of predictor0.15568

SD of criterion0.22319

Covariance0.02496

r0.71833

b (slope, estimate of beta)1.02984

a (intercept, estimate of alpha)0.34562

Mean Square Error0.02652

DF error10.00000

t(b)3.26517

p(b)0.00425

t(a)2.05146

p(a)0.03367

Lowerbound of 95% confidence interval for beta0.32708

Upperbound of 95% confidence interval for beta1.73259

Lowerbound of 95% confidence interval for alpha0.02977

Upperbound of 95% confidence interval for alpha0.72101

Treynor index (mean / b)0.47252

Jensen alpha (a)0.34562
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.45515

SD0.21236

Sharpe ratio (Glass type estimate)2.14329

Sharpe ratio (Hedges UMVUE)1.99318

df11.00000

t2.14329

p0.02764

Lowerbound of 95% confidence interval for Sharpe Ratio0.04701

Upperbound of 95% confidence interval for Sharpe Ratio4.25387

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.13641

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.12276
 Statistics related to Sortino ratio

Sortino ratio7.04405

Upside Potential Ratio8.32728

Upside part of mean0.53806

Downside part of mean0.08292

Upside SD0.23330

Downside SD0.06461

N nonnegative terms9.00000

N negative terms3.00000
 Statistics related to linear regression on benchmark

N of observations12.00000

Mean of predictor0.12472

Mean of criterion0.45515

SD of predictor0.15661

SD of criterion0.21236

Covariance0.02402

r0.72213

b (slope, estimate of beta)0.97918

a (intercept, estimate of alpha)0.33302

Mean Square Error0.02374

DF error10.00000

t(b)3.30116

p(b)0.00400

t(a)2.10175

p(a)0.03095

Lowerbound of 95% confidence interval for beta0.31827

Upperbound of 95% confidence interval for beta1.64008

Lowerbound of 95% confidence interval for alpha0.02003

Upperbound of 95% confidence interval for alpha0.68607

Treynor index (mean / b)0.46483

Jensen alpha (a)0.33302
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.06097

Expected Shortfall on VaR0.08448
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00901

Expected Shortfall on VaR0.02228
 ORDER STATISTICS
 Quartiles of return rates

Number of observations12.00000

Minimum0.94156

Quartile 11.00170

Median1.02577

Quartile 31.08093

Maximum1.14785

Mean of quarter 10.97531

Mean of quarter 21.01019

Mean of quarter 31.05137

Mean of quarter 41.13465

Inter Quartile Range0.07924

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)2.18574

VaR(95%) (moments method)0.01078

Expected Shortfall (moments method)0.01122

Extreme Value Index (regression method)1.10668

VaR(95%) (regression method)0.05642

Expected Shortfall (regression method)0.00000
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations2.00000

Minimum0.01308

Quartile 10.02502

Median0.03696

Quartile 30.04890

Maximum0.06084

Mean of quarter 10.01308

Mean of quarter 20.00000

Mean of quarter 30.00000

Mean of quarter 40.06084

Inter Quartile Range0.02388

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)0.62102

Compounded annual return (geometric extrapolation)0.62102

Calmar ratio (compounded annual return / max draw down)10.20740

Compounded annual return / average of 25% largest draw downs10.20740

Compounded annual return / Expected Shortfall lognormal7.35096

0.00000

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

Mean0.51936

SD0.19304

Sharpe ratio (Glass type estimate)2.69037

Sharpe ratio (Hedges UMVUE)2.68283

df268.00000

t2.72607

p0.00342

Lowerbound of 95% confidence interval for Sharpe Ratio0.74028

Upperbound of 95% confidence interval for Sharpe Ratio4.63554

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.73525

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.63041
 Statistics related to Sortino ratio

Sortino ratio4.46639

Upside Potential Ratio12.14770

Upside part of mean1.41255

Downside part of mean0.89319

Upside SD0.15696

Downside SD0.11628

N nonnegative terms154.00000

N negative terms115.00000
 Statistics related to linear regression on benchmark

N of observations269.00000

Mean of predictor0.14681

Mean of criterion0.51936

SD of predictor0.15697

SD of criterion0.19304

Covariance0.01912

r0.63112

b (slope, estimate of beta)0.77613

a (intercept, estimate of alpha)0.40500

Mean Square Error0.02251

DF error267.00000

t(b)13.29470

p(b)0.00000

t(a)2.73363

p(a)0.00334

Lowerbound of 95% confidence interval for beta0.66119

Upperbound of 95% confidence interval for beta0.89107

Lowerbound of 95% confidence interval for alpha0.11342

Upperbound of 95% confidence interval for alpha0.69741

Treynor index (mean / b)0.66916

Jensen alpha (a)0.40541
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.50033

SD0.19239

Sharpe ratio (Glass type estimate)2.60064

Sharpe ratio (Hedges UMVUE)2.59336

df268.00000

t2.63515

p0.00445

Lowerbound of 95% confidence interval for Sharpe Ratio0.65149

Upperbound of 95% confidence interval for Sharpe Ratio4.54506

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.64664

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation4.54007
 Statistics related to Sortino ratio

Sortino ratio4.25907

Upside Potential Ratio11.91980

Upside part of mean1.40028

Downside part of mean0.89995

Upside SD0.15502

Downside SD0.11747

N nonnegative terms154.00000

N negative terms115.00000
 Statistics related to linear regression on benchmark

N of observations269.00000

Mean of predictor0.13448

Mean of criterion0.50033

SD of predictor0.15703

SD of criterion0.19239

Covariance0.01918

r0.63492

b (slope, estimate of beta)0.77788

a (intercept, estimate of alpha)0.39572

Mean Square Error0.02218

DF error267.00000

t(b)13.42860

p(b)0.00000

t(a)2.68889

p(a)0.00381

Lowerbound of 95% confidence interval for beta0.66383

Upperbound of 95% confidence interval for beta0.89193

Lowerbound of 95% confidence interval for alpha0.10596

Upperbound of 95% confidence interval for alpha0.68549

Treynor index (mean / b)0.64320

Jensen alpha (a)0.39572
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.01749

Expected Shortfall on VaR0.02234
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00708

Expected Shortfall on VaR0.01437
 ORDER STATISTICS
 Quartiles of return rates

Number of observations269.00000

Minimum0.96378

Quartile 10.99596

Median1.00148

Quartile 31.00758

Maximum1.05308

Mean of quarter 10.98792

Mean of quarter 20.99905

Mean of quarter 31.00466

Mean of quarter 41.01693

Inter Quartile Range0.01162

Number outliers low9.00000

Percentage of outliers low0.03346

Mean of outliers low0.97360

Number of outliers high9.00000

Percentage of outliers high0.03346

Mean of outliers high1.03358
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.03850

VaR(95%) (moments method)0.01024

Expected Shortfall (moments method)0.01384

Extreme Value Index (regression method)0.14748

VaR(95%) (regression method)0.01223

Expected Shortfall (regression method)0.01614
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations26.00000

Minimum0.00031

Quartile 10.00502

Median0.00866

Quartile 30.02262

Maximum0.12459

Mean of quarter 10.00238

Mean of quarter 20.00733

Mean of quarter 30.01538

Mean of quarter 40.06191

Inter Quartile Range0.01761

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high4.00000

Percentage of outliers high0.15385

Mean of outliers high0.08707
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.00627

VaR(95%) (moments method)0.05680

Expected Shortfall (moments method)0.07843

Extreme Value Index (regression method)0.55696

VaR(95%) (regression method)0.07205

Expected Shortfall (regression method)0.17405
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.70132

Compounded annual return (geometric extrapolation)0.69595

Calmar ratio (compounded annual return / max draw down)5.58576

Compounded annual return / average of 25% largest draw downs11.24050

Compounded annual return / Expected Shortfall lognormal31.14660

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

Mean0.65826

SD0.18925

Sharpe ratio (Glass type estimate)3.47817

Sharpe ratio (Hedges UMVUE)3.45806

df130.00000

t2.45943

p0.39457

Lowerbound of 95% confidence interval for Sharpe Ratio0.66783

Upperbound of 95% confidence interval for Sharpe Ratio6.27544

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.65456

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.26156
 Statistics related to Sortino ratio

Sortino ratio5.75382

Upside Potential Ratio13.18530

Upside part of mean1.50845

Downside part of mean0.85019

Upside SD0.15527

Downside SD0.11440

N nonnegative terms82.00000

N negative terms49.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.18964

Mean of criterion0.65826

SD of predictor0.13589

SD of criterion0.18925

Covariance0.01789

r0.69566

b (slope, estimate of beta)0.96888

a (intercept, estimate of alpha)0.47452

Mean Square Error0.01863

DF error129.00000

t(b)10.99880

p(b)0.09604

t(a)2.44935

p(a)0.36680

Lowerbound of 95% confidence interval for beta0.79459

Upperbound of 95% confidence interval for beta1.14316

Lowerbound of 95% confidence interval for alpha0.09122

Upperbound of 95% confidence interval for alpha0.85783

Treynor index (mean / b)0.67940

Jensen alpha (a)0.47452
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.63968

SD0.18882

Sharpe ratio (Glass type estimate)3.38774

Sharpe ratio (Hedges UMVUE)3.36816

df130.00000

t2.39550

p0.39720

Lowerbound of 95% confidence interval for Sharpe Ratio0.57929

Upperbound of 95% confidence interval for Sharpe Ratio6.18363

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.56628

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation6.17004
 Statistics related to Sortino ratio

Sortino ratio5.53444

Upside Potential Ratio12.94680

Upside part of mean1.49641

Downside part of mean0.85674

Upside SD0.15357

Downside SD0.11558

N nonnegative terms82.00000

N negative terms49.00000
 Statistics related to linear regression on benchmark

N of observations131.00000

Mean of predictor0.18035

Mean of criterion0.63968

SD of predictor0.13631

SD of criterion0.18882

Covariance0.01798

r0.69854

b (slope, estimate of beta)0.96767

a (intercept, estimate of alpha)0.46515

Mean Square Error0.01840

DF error129.00000

t(b)11.08730

p(b)0.09473

t(a)2.41680

p(a)0.36846

VAR (95 Confidence Intrvl)0.01700

Lowerbound of 95% confidence interval for beta0.79499

Upperbound of 95% confidence interval for beta1.14035

Lowerbound of 95% confidence interval for alpha0.08435

Upperbound of 95% confidence interval for alpha0.84595

Treynor index (mean / b)0.66105

Jensen alpha (a)0.46515
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.01661

Expected Shortfall on VaR0.02138
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00612

Expected Shortfall on VaR0.01290
 ORDER STATISTICS
 Quartiles of return rates

Number of observations131.00000

Minimum0.96964

Quartile 10.99617

Median1.00293

Quartile 31.00824

Maximum1.03846

Mean of quarter 10.98828

Mean of quarter 20.99991

Mean of quarter 31.00567

Mean of quarter 41.01671

Inter Quartile Range0.01207

Number outliers low5.00000

Percentage of outliers low0.03817

Mean of outliers low0.97396

Number of outliers high5.00000

Percentage of outliers high0.03817

Mean of outliers high1.03145
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.14571

VaR(95%) (moments method)0.01052

Expected Shortfall (moments method)0.01596

Extreme Value Index (regression method)0.00921

VaR(95%) (regression method)0.01267

Expected Shortfall (regression method)0.01818
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations14.00000

Minimum0.00100

Quartile 10.00715

Median0.00811

Quartile 30.01752

Maximum0.09378

Mean of quarter 10.00344

Mean of quarter 20.00753

Mean of quarter 30.01031

Mean of quarter 40.05582

Inter Quartile Range0.01038

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high3.00000

Percentage of outliers high0.21429

Mean of outliers high0.06815
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)4.98985

VaR(95%) (moments method)0.04666

Expected Shortfall (moments method)0.04668

Extreme Value Index (regression method)0.95234

VaR(95%) (regression method)0.09910

Last 4 Months  Pcnt Negative0.25%

Expected Shortfall (regression method)0.10908

Strat Max DD how much worse than SP500 max DD during strat life?284599000

Max Equity Drawdown (num days)20
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.79251

Compounded annual return (geometric extrapolation)0.94952

Calmar ratio (compounded annual return / max draw down)10.12530

Compounded annual return / average of 25% largest draw downs17.00970

Compounded annual return / Expected Shortfall lognormal44.41240
Strategy Description
The Strategy utilizes investments across all major market sectors with a focus on companies which 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 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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(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.