Pangolin Z
(79906597)
Subscription terms. You can subscribe to this system for free.
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.
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  

2013  +0.3%  +8.5%  +0.5%  +3.3%  +1.4%  (2.2%)  +2.8%  +4.0%  +4.8%  +1.9%  +28.0%  
2014  (0.5%)  +0.6%  +8.9%  +3.4%  +2.0%  +2.9%  (5.2%)  +3.0%  (6.5%)  (7.2%)  +5.4%  +0.6%  +6.2% 
2015  +0.1%                        +0.1% 
2016                          0.0 
2017                          0.0 
2018                          0.0 
2019                      0.0  
2020                          0.0 
2021                          0.0 
2022                   
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  $36,037  
Cash  $36,037  
Equity  $0  
Cumulative $  $11,037  
Includes dividends and cashsettled expirations:  $905  Itemized 
Total System Equity  $36,037  
Margined  $0  
Open P/L  $0 
Trading Record
Statistics

Strategy began3/26/2013

Suggested Minimum Cap$25,000

Strategy Age (days)3474.28

Age116 months ago

What it tradesStocks

# Trades464

# Profitable313

% Profitable67.50%

Avg trade duration7.0 days

Max peaktovalley drawdown%

drawdown periodDec ,  Dec ,

Annual Return (Compounded)20.3%

Avg win$104.83

Avg loss$150.29
 Model Account Values (Raw)

Cash$36,037

Margin Used$0

Buying Power$36,037
 Ratios

W:L ratio1.49:1

Sharpe Ratio0.25

Sortino Ratio0.36

Calmar Ratio0.783
 CORRELATION STATISTICS

Return of Strat Pcnt  Return of SP500 Pcnt (cumu)5.57%

Correlation to SP5000.17280

Return Percent SP500 (cumu) during strategy life141.37%
 Return Statistics

Ann Return (w trading costs)20.3%
 Slump

Current Slump as Pcnt Equity13.10%
 Instruments

Percent Trades Futuresn/a
 Slump

Current Slump, time of slump as pcnt of strategy life0.87%
 Return Statistics

Return Pcnt (Compound or Annual, agebased, NFA compliant)0.203%
 Instruments

Percent Trades Optionsn/a

Percent Trades Stocks1.00%

Percent Trades Forexn/a
 Return Statistics

Ann Return (Compnd, No Fees)3.9%
 Risk of Ruin (MonteCarlo)

Chance of 10% account loss7.00%

Chance of 20% account loss0.50%

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)851

Popularity (Last 6 weeks)895
 Trading Style

Any stock shorts? 0/10
 TradesOwnSystem Certification

Trades Own System?

TOS percentn/a
 Win / Loss

Avg Loss$150

Avg Win$105

Sum Trade PL (losers)$22,694.000
 Age

Num Months filled monthly returns table115
 Win / Loss

Sum Trade PL (winners)$32,812.000

# Winners313

Num Months Winners19
 Dividends

Dividends Received in Model Acct905
 Win / Loss

# Losers151

% Winners67.5%
 Frequency

Avg Position Time (mins)10118.70

Avg Position Time (hrs)168.64

Avg Trade Length7.0 days

Last Trade Ago2839
 Regression

Alpha0.00

Beta0.06

Treynor Index0.07
 Maximum Adverse Excursion (MAE)

MAE:Equity, average, all trades0.00

MAE:PL  Winning Trades  this strat Percentile of All Strats43.53

MAE:PL  worst single value for strategy

MAE:PL  Losing Trades  this strat Percentile of All Strats47.13

MAE:PL (avg, winning trades)

MAE:PL (avg, losing trades)

MAE:PL (avg, all trades)0.33

MAE:Equity, average, winning trades0.00

MAE:Equity, average, losing trades0.01

Avg(MAE) / Avg(PL)  All trades6.141

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 trades0.672

Avg(MAE) / Avg(PL)  Losing trades1.309

HoldandHope Ratio0.163
 Analysis based on MONTHLY values, full history
 RATIO STATISTICS
 Ratio statistics of excess return rates
 Statistics related to Sharpe ratio

Mean0.19959

SD0.13512

Sharpe ratio (Glass type estimate)1.47715

Sharpe ratio (Hedges UMVUE)1.42365

df21.00000

t2.00006

p0.25231

Lowerbound of 95% confidence interval for Sharpe Ratio0.05292

Upperbound of 95% confidence interval for Sharpe Ratio2.97527

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.08656

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation2.93385
 Statistics related to Sortino ratio

Sortino ratio2.75164

Upside Potential Ratio4.42715

Upside part of mean0.32112

Downside part of mean0.12153

Upside SD0.12444

Downside SD0.07253

N nonnegative terms15.00000

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

N of observations22.00000

Mean of predictor0.14926

Mean of criterion0.19959

SD of predictor0.10379

SD of criterion0.13512

Covariance0.00843

r0.60129

b (slope, estimate of beta)0.78279

a (intercept, estimate of alpha)0.08275

Mean Square Error0.01224

DF error20.00000

t(b)3.36541

p(b)0.19935

t(a)0.93216

p(a)0.39797

Lowerbound of 95% confidence interval for beta0.29760

Upperbound of 95% confidence interval for beta1.26798

Lowerbound of 95% confidence interval for alpha0.10243

Upperbound of 95% confidence interval for alpha0.26793

Treynor index (mean / b)0.25497

Jensen alpha (a)0.08275
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.18925

SD0.13421

Sharpe ratio (Glass type estimate)1.41009

Sharpe ratio (Hedges UMVUE)1.35902

df21.00000

t1.90927

p0.26134

Lowerbound of 95% confidence interval for Sharpe Ratio0.11358

Upperbound of 95% confidence interval for Sharpe Ratio2.90302

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.14573

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation2.86377
 Statistics related to Sortino ratio

Sortino ratio2.54102

Upside Potential Ratio4.20804

Upside part of mean0.31340

Downside part of mean0.12416

Upside SD0.12096

Downside SD0.07448

N nonnegative terms15.00000

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

N of observations22.00000

Mean of predictor0.14320

Mean of criterion0.18925

SD of predictor0.10244

SD of criterion0.13421

Covariance0.00833

r0.60571

b (slope, estimate of beta)0.79353

a (intercept, estimate of alpha)0.07561

Mean Square Error0.01197

DF error20.00000

t(b)3.40440

p(b)0.19714

t(a)0.86473

p(a)0.40508

Lowerbound of 95% confidence interval for beta0.30731

Upperbound of 95% confidence interval for beta1.27975

Lowerbound of 95% confidence interval for alpha0.10678

Upperbound of 95% confidence interval for alpha0.25800

Treynor index (mean / b)0.23849

Jensen alpha (a)0.07561
 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 VaR0.06203
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.01716

Expected Shortfall on VaR0.03642
 ORDER STATISTICS
 Quartiles of return rates

Number of observations22.00000

Minimum0.93207

Quartile 10.98396

Median1.02546

Quartile 31.03719

Maximum1.07607

Mean of quarter 10.96548

Mean of quarter 21.01510

Mean of quarter 31.03220

Mean of quarter 41.05912

Inter Quartile Range0.05323

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)0.31963

VaR(95%) (moments method)0.03984

Expected Shortfall (moments method)0.06648

Extreme Value Index (regression method)0.85618

VaR(95%) (regression method)0.04443

Expected Shortfall (regression method)0.25160
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations4.00000

Minimum0.01809

Quartile 10.01887

Median0.02564

Quartile 30.05927

Maximum0.14064

Mean of quarter 10.01809

Mean of quarter 20.01913

Mean of quarter 30.03214

Mean of quarter 40.14064

Inter Quartile Range0.04040

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high1.00000

Percentage of outliers high0.25000

Mean of outliers high0.14064
 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)0.24044

Compounded annual return (geometric extrapolation)0.22043

Calmar ratio (compounded annual return / max draw down)1.56731

Compounded annual return / average of 25% largest draw downs1.56731

Compounded annual return / Expected Shortfall lognormal3.55324

0.00000

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

Mean0.19176

SD0.10883

Sharpe ratio (Glass type estimate)1.76202

Sharpe ratio (Hedges UMVUE)1.75995

df640.00000

t2.40525

p0.00822

Lowerbound of 95% confidence interval for Sharpe Ratio0.32228

Upperbound of 95% confidence interval for Sharpe Ratio3.20039

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.32091

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation3.19900
 Statistics related to Sortino ratio

Sortino ratio2.63283

Upside Potential Ratio9.64694

Upside part of mean0.70264

Downside part of mean0.51088

Upside SD0.08141

Downside SD0.07284

N nonnegative terms320.00000

N negative terms321.00000
 Statistics related to linear regression on benchmark

N of observations641.00000

Mean of predictor0.15044

Mean of criterion0.19176

SD of predictor0.11004

SD of criterion0.10883

Covariance0.00651

r0.54336

b (slope, estimate of beta)0.53740

a (intercept, estimate of alpha)0.07100

Mean Square Error0.00836

DF error639.00000

t(b)16.36110

p(b)0.00000

t(a)1.65142

p(a)0.04957

Lowerbound of 95% confidence interval for beta0.47290

Upperbound of 95% confidence interval for beta0.60190

Lowerbound of 95% confidence interval for alpha0.02097

Upperbound of 95% confidence interval for alpha0.24281

Treynor index (mean / b)0.35684

Jensen alpha (a)0.11092
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.18580

SD0.10878

Sharpe ratio (Glass type estimate)1.70797

Sharpe ratio (Hedges UMVUE)1.70597

df640.00000

t2.33147

p0.01002

Lowerbound of 95% confidence interval for Sharpe Ratio0.26849

Upperbound of 95% confidence interval for Sharpe Ratio3.14621

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation0.26712

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation3.14482
 Statistics related to Sortino ratio

Sortino ratio2.53187

Upside Potential Ratio9.52989

Upside part of mean0.69934

Downside part of mean0.51354

Upside SD0.08081

Downside SD0.07338

N nonnegative terms320.00000

N negative terms321.00000
 Statistics related to linear regression on benchmark

N of observations641.00000

Mean of predictor0.14435

Mean of criterion0.18580

SD of predictor0.11013

SD of criterion0.10878

Covariance0.00652

r0.54441

b (slope, estimate of beta)0.53776

a (intercept, estimate of alpha)0.10817

Mean Square Error0.00834

DF error639.00000

t(b)16.40640

p(b)0.00000

t(a)1.61292

p(a)0.05363

Lowerbound of 95% confidence interval for beta0.47340

Upperbound of 95% confidence interval for beta0.60213

Lowerbound of 95% confidence interval for alpha0.02352

Upperbound of 95% confidence interval for alpha0.23987

Treynor index (mean / b)0.34551

Jensen alpha (a)0.10817
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.00907

Expected Shortfall on VaR0.01149
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00335

Expected Shortfall on VaR0.00723
 ORDER STATISTICS
 Quartiles of return rates

Number of observations641.00000

Minimum0.97162

Quartile 10.99935

Median1.00000

Quartile 31.00267

Maximum1.02835

Mean of quarter 10.99422

Mean of quarter 20.99992

Mean of quarter 31.00112

Mean of quarter 41.00712

Inter Quartile Range0.00332

Number outliers low61.00000

Percentage of outliers low0.09516

Mean of outliers low0.98893

Number of outliers high48.00000

Percentage of outliers high0.07488

Mean of outliers high1.01307
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.16212

VaR(95%) (moments method)0.00360

Expected Shortfall (moments method)0.00596

Extreme Value Index (regression method)0.00234

VaR(95%) (regression method)0.00556

Expected Shortfall (regression method)0.00861
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations45.00000

Minimum0.00003

Quartile 10.00065

Median0.00349

Quartile 30.00920

Maximum0.14758

Mean of quarter 10.00032

Mean of quarter 20.00192

Mean of quarter 30.00600

Mean of quarter 40.04114

Inter Quartile Range0.00855

Number outliers low0.00000

Percentage of outliers low0.00000

Mean of outliers low0.00000

Number of outliers high6.00000

Percentage of outliers high0.13333

Mean of outliers high0.06590
 Risk estimates based on draw downs (based on Extreme Value T

Extreme Value Index (moments method)0.85297

VaR(95%) (moments method)0.04281

Expected Shortfall (moments method)0.30567

Extreme Value Index (regression method)1.47681

VaR(95%) (regression method)0.03328

Expected Shortfall (regression method)0.00000
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.23622

Compounded annual return (geometric extrapolation)0.21622

Calmar ratio (compounded annual return / max draw down)1.46511

Compounded annual return / average of 25% largest draw downs5.25560

Compounded annual return / Expected Shortfall lognormal18.81950

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

Mean0.16527

SD0.10098

Sharpe ratio (Glass type estimate)1.63660

Sharpe ratio (Hedges UMVUE)1.62942

df171.00000

t1.15725

p0.55605

Lowerbound of 95% confidence interval for Sharpe Ratio4.41151

Upperbound of 95% confidence interval for Sharpe Ratio1.14295

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation4.40660

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation1.14776
 Statistics related to Sortino ratio

Sortino ratio2.09760

Upside Potential Ratio6.02415

Upside part of mean0.47464

Downside part of mean0.63991

Upside SD0.06332

Downside SD0.07879

N nonnegative terms70.00000

N negative terms102.00000
 Statistics related to linear regression on benchmark

N of observations172.00000

Mean of predictor0.11667

Mean of criterion0.16527

SD of predictor0.11887

SD of criterion0.10098

Covariance0.00603

r0.50196

b (slope, estimate of beta)0.42643

a (intercept, estimate of alpha)0.21502

Mean Square Error0.00767

DF error170.00000

t(b)7.56722

p(b)0.24902

t(a)1.73328

p(a)0.56589

Lowerbound of 95% confidence interval for beta0.31519

Upperbound of 95% confidence interval for beta0.53767

Lowerbound of 95% confidence interval for alpha0.45990

Upperbound of 95% confidence interval for alpha0.02986

Treynor index (mean / b)0.38757

Jensen alpha (a)0.21502
 Ratio statistics of excess log return rates
 Statistics related to Sharpe ratio

Mean0.17038

SD0.10101

Sharpe ratio (Glass type estimate)1.68666

Sharpe ratio (Hedges UMVUE)1.67925

df171.00000

t1.19265

p0.55774

Lowerbound of 95% confidence interval for Sharpe Ratio4.46180

Upperbound of 95% confidence interval for Sharpe Ratio1.09333

Lowerbound of 95% CI (Gibbons, Hedeker & Davis approximation4.45677

Upperbound of 95% CI (Gibbons, Hedeker & Davis approximation1.09826
 Statistics related to Sortino ratio

Sortino ratio2.14946

Upside Potential Ratio5.96284

Upside part of mean0.47265

Downside part of mean0.64302

Upside SD0.06282

Downside SD0.07927

N nonnegative terms70.00000

N negative terms102.00000
 Statistics related to linear regression on benchmark

N of observations172.00000

Mean of predictor0.10962

Mean of criterion0.17038

SD of predictor0.11887

SD of criterion0.10101

Covariance0.00603

r0.50238

b (slope, estimate of beta)0.42691

a (intercept, estimate of alpha)0.21718

Mean Square Error0.00767

DF error170.00000

t(b)7.57565

p(b)0.24881

t(a)1.75090

p(a)0.56655

VAR (95 Confidence Intrvl)0.00800

Lowerbound of 95% confidence interval for beta0.31567

Upperbound of 95% confidence interval for beta0.53815

Lowerbound of 95% confidence interval for alpha0.46203

Upperbound of 95% confidence interval for alpha0.02768

Treynor index (mean / b)0.39909

Jensen alpha (a)0.21718
 Risk estimates for a oneperiod unit investment (parametric)
 assuming log normal returns and losses (using central moments from Sharpe statistics)

VaR(95%)0.00941

Expected Shortfall on VaR0.01166
 assuming Pareto losses only (using partial moments from Sortino statistics)

VaR(95%)0.00473

Expected Shortfall on VaR0.00951
 ORDER STATISTICS
 Quartiles of return rates

Number of observations172.00000

Minimum0.98264

Quartile 10.99829

Median1.00000

Quartile 31.00157

Maximum1.02835

Mean of quarter 10.99284

Mean of quarter 20.99979

Mean of quarter 31.00045

Mean of quarter 41.00512

Inter Quartile Range0.00328

Number outliers low20.00000

Percentage of outliers low0.11628

Mean of outliers low0.98873

Number of outliers high8.00000

Percentage of outliers high0.04651

Mean of outliers high1.01212
 Risk estimates for a oneperiod unit investment (based on Ex

Extreme Value Index (moments method)0.04678

VaR(95%) (moments method)0.00525

Expected Shortfall (moments method)0.00766

Extreme Value Index (regression method)0.42011

VaR(95%) (regression method)0.00755

Expected Shortfall (regression method)0.00934
 DRAW DOWN STATISTICS
 Quartiles of draw downs

Number of observations2.00000

Minimum0.00008

Quartile 10.03484

Median0.06960

Quartile 30.10437

Maximum0.13913

Mean of quarter 10.00008

Mean of quarter 20.00000

Mean of quarter 30.00000

Mean of quarter 40.13913

Inter Quartile Range0.06953

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 Negativen/a

Expected Shortfall (regression method)0.00000

Max Equity Drawdown (num days)106
 COMBINED STATISTICS

Annualized return (arithmetic extrapolation)0.15416

Compounded annual return (geometric extrapolation)0.14822

Calmar ratio (compounded annual return / max draw down)1.06532

Compounded annual return / average of 25% largest draw downs1.06532

Compounded annual return / Expected Shortfall lognormal12.71290
Strategy Description
The system is longonly and trades only highly liquid stocks within the S&P 500. Signals are generated each night and positions are entered or closed at the open on the next trading session. The system is algorithmdriven and completely mechanical.
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.