- New Science in old markets -


The track records


  • The HED program took its current form in May 2013. Theoretical results from taking all published trades, time-stamped and managed using our rules are shown in Grey. There is practically no leverage as total position sizes average 105% of equity. 40% of equity is devoted to US equity indices but all liquid futures markets are traded.
  • Actual trading started in December 2015, using the same approach and the results are in Orange. We kept the paper trading and actual trading running together for four months as a test of concept, so there is overlap.
  • Actual trading using the same approach but with extra leverage started in February and the results are in Blue.

HED program perf as of Jul 2016

This table shows the results of the unleveraged approach, switching from time-stamped paper-trades to actual trades as of January 2016:

HED program table Jul'16


HED first began publishing time-stamped trading advice in August 2007, mainly in US equity markets, particularly S&P futures. This is the result of taking every one of those trades in a constant trading size, without compounding but also without deducting any fees:

HED S&P program perf as of end May