DeployQuant3-Month Momentum Switch on QLD
ProShares Ultra QQQ: 2x daily leveraged Nasdaq-100, between QQQ and TQQQ in leverage. Backtest 2021-01-04 to 2026-10-02, $10,000 starting capital, computed by the same engine that runs live DeployQuant strategies.
QLD is the ProShares Ultra QQQ fund, built to deliver twice the daily return of the Nasdaq-100. The 3-month momentum switch holds a fund only while its trailing 63-day return is positive, entering above +5% and leaving below 0%. Run on QLD from 2021-01-04 to 2026-10-02, it turned $10,000 into $18,039.36. That is a CAGR of 10.82%, a maximum drawdown of 36.13% and a Sharpe ratio of 0.52.
Buying QLD on the first day and doing nothing compounded at 23.55% a year and ended at $33,675.63. Its drawdown was 62.82% and its Sharpe ratio 0.72. The switch gave up 12.73 points of CAGR and cut the drawdown by 26.69 points. Of the six calendar years it finished ahead in one, 2022.
The rule closed 18 round trips and had a 19th open on the final day, entered at 98.29 on 2026-10-02 and down 0.16 at that point. Eight of the 18 closed trades won, a win rate of 44%. The average winner made 15.33% and the average loser lost 4.5%, giving a profit factor of 2.36. The rule was invested 60% of the time, with an average hold of 70 days.
On QLD this template ranks 11th of the 12 tested, ahead of only RSI mean reversion. For the rule itself, QLD ranks 4th of 59 funds, which says that the 3-month switch was weak across the whole universe in this window. Its median CAGR over all 59 funds is 0%, and over leveraged funds it is 8.45%. The test is one window of 5.74 years, one run per fund, daily-decision rules, and the headline run has no fees or slippage. The results are hypothetical.
Year by year
| Year | 3-month momentum | buy & hold |
|---|---|---|
| 2021 | 31.5% | 57.8% |
| 2022 | −32.0% | −59.7% |
| 2023 | 77.3% | 113.2% |
| 2024 | −2.1% | 42.1% |
| 2025 | 19.4% | 29.9% |
| 2026 | −2.7% | 39.2% |
Year by year
The switch returned 31.5% in 2021, -32% in 2022, 77.3% in 2023, -2.1% in 2024, 19.4% in 2025 and -2.7% in 2026 to date. Buy-and-hold returned 57.8%, -59.7%, 113.2%, 42.1%, 29.9% and 39.2%. 2022 was the single year in which the rule finished ahead.
In 2021 the first signal came on 2021-04-07 at 31.06, after three flat months, and sold a month later for a 1.77% gain. The second trade ran 133 days from 2021-05-25 at 31.57 to 2021-10-05 at 35.3, a 11.82% gain. September 2021 cost 11.23% while the position was open. A third trade in October held 93 days for 1.56% and exited on 2022-01-19. The rule finished the year 26.3 points behind the fund, as it missed the early gains and several of the later ones.
2022 produced the gap in the rule's favour, 27.7 points. The rule lost 32% against 59.7% for the fund. January 2022 cost 12.37%, which came from the position that had been held since October. Then the rule sat in cash for six months, February to July. It re-entered on 2022-08-10 at 27.23 and sold on 2022-08-30 at 24.03 for -11.75%, then tried again on 2022-09-13 at 23.29 and sold nine days later for -12.54%. Those two entries lost heavily in August and September, which cost 11.5% and 12.29%. The rule then went to cash for October to December 2022, avoiding the fund's 2022-12-28 low.
2023 shows the other side. The fund returned 113.2% and the rule 77.3%. The rule lost 1.74% on a first January entry, then caught the 2023-01-23 entry at 19.55 for 8.49%. The trade of 2023-03-15 at 20.83 held 187 days to 2023-09-18 at 31.45 and made 50.98%, the best of the test. March 2023 returned 20.47%, May 14.98% and June 12.17%. The entry on 2023-11-15 at 33.93 held 159 days to 12.61%.
2024 was the weak year. The rule lost 2.1% while the fund made 42.1%. The 2024-05-15 entry at 43.82 sold at 41.02 on 2024-08-06 for -6.39%, and the fund's summer reversal cost the rule 4.26% in July, 9.39% in August, 6.45% in September and 4.16% in October. November 2024 returned 9.91% on the entry of 2024-10-23, which held 128 days and sold at a small loss. In 2025 the rule made 19.4% against 29.9%, mostly from the 2025-06-03 trade at 53.32, held 198 days to 69.43 for 30.21%.
2026 to date shows -2.7% for the rule against 39.2% for the fund. The rule had five exits in 2026, one of them a win. May 2026 returned 21.05% and July lost 16.46%, the worst month of the test. The July loss came after a peak on 2026-06-02, and the sale on 2026-07-30 at 80.52 locked in a 5.23% trade gain on a position bought at 76.52.
Month by month
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 0.0% | 0.0% | 0.0% | 4.4% | −2.7% | 12.5% | 5.4% | 8.3% | −11.2% | 7.9% | 3.6% | 1.6% |
| 2022 | −12.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | −11.5% | −12.3% | 0.0% | 0.0% | 0.0% |
| 2023 | 5.9% | −1.7% | 20.5% | 0.3% | 15.0% | 12.2% | 7.0% | −3.9% | −4.3% | 0.0% | 0.5% | 10.5% |
| 2024 | 2.8% | 9.9% | 1.8% | −12.0% | 1.2% | 11.8% | −4.3% | −9.4% | −6.5% | −4.2% | 9.9% | 0.1% |
| 2025 | 3.4% | −9.1% | 0.0% | 0.0% | 0.0% | 10.0% | 4.2% | 1.1% | 10.3% | 8.8% | −3.9% | −5.0% |
| 2026 | −1.7% | −3.0% | 0.0% | 5.7% | 21.1% | −1.6% | −16.5% | −1.3% | −1.6% | −0.2% | – | – |
The month-by-month pattern
The grid has long cash stretches. January to March 2021 are zero, and so are February to July 2022, October to December 2022, October 2023, March to May 2025 and March 2026. In a year like 2022 those zeros are the benefit: the fund's worst month was -25.58% in April 2022, and the rule held no position then.
The best months were May 2026 at 21.05%, March 2023 at 20.47%, May 2023 at 14.98%, June 2021 at 12.46% and June 2023 at 12.17%. The worst were July 2026 at -16.46%, January 2022 at -12.37%, September 2022 at -12.29%, April 2024 at -12.03% and August 2022 at -11.5%.
The weakness of the rule shows in runs of consecutive bad months: August and September 2022, then July to October 2024 at -4.26%, -9.39%, -6.45% and -4.16%, then November 2025 to February 2026. A slow exit means several bad months in sequence before the signal turns negative.
QLD's own calendar-month averages put May at 9.97% and November at 8.28%, with September at -3.65% and February at -2.2%. Each figure rests on five or six observations, so it describes this window only.
Every trade
3-month momentum on QLD made 18 closed round trips and one position still open at the end of the test, an average hold of 70 days, an average winner of 15.33%, an average loser of −4.50%, a profit factor of 2.36, a longest losing streak of 3. It held a position at the close on 60.0% of trading days.
| Entry | Entry price | Exit | Exit price | Return | Days held |
|---|---|---|---|---|---|
| 2021-04-07 | $31.06 | 2021-05-07 | $31.61 | 1.8% | 30 |
| 2021-05-25 | $31.57 | 2021-10-05 | $35.30 | 11.8% | 133 |
| 2021-10-18 | $37.93 | 2022-01-19 | $38.52 | 1.6% | 93 |
| 2022-08-10 | $27.23 | 2022-08-30 | $24.03 | −11.8% | 20 |
| 2022-09-13 | $23.29 | 2022-09-22 | $20.37 | −12.5% | 9 |
| 2023-01-12 | $18.96 | 2023-01-20 | $18.63 | −1.7% | 8 |
| 2023-01-23 | $19.55 | 2023-03-08 | $21.21 | 8.5% | 44 |
| 2023-03-15 | $20.83 | 2023-09-18 | $31.45 | 51.0% | 187 |
| 2023-11-15 | $33.93 | 2024-04-22 | $38.21 | 12.6% | 159 |
| 2024-05-15 | $43.82 | 2024-08-06 | $41.02 | −6.4% | 83 |
| 2024-08-14 | $45.87 | 2024-09-06 | $44.91 | −2.1% | 23 |
| 2024-10-23 | $51.12 | 2025-02-28 | $50.64 | −0.9% | 128 |
| 2025-06-03 | $53.32 | 2025-12-18 | $69.43 | 30.2% | 198 |
| 2025-12-23 | $71.72 | 2026-01-21 | $69.07 | −3.7% | 29 |
| 2026-02-25 | $69.07 | 2026-02-27 | $66.99 | −3.0% | 2 |
| 2026-04-20 | $76.52 | 2026-07-30 | $80.52 | 5.2% | 101 |
| 2026-08-05 | $92.99 | 2026-08-11 | $91.80 | −1.3% | 6 |
| 2026-09-23 | $97.48 | 2026-09-30 | $95.92 | −1.6% | 7 |
| 2026-10-02 | $98.29 | open | – | −0.2% | – |
Prices are adjusted for splits and dividends, so they sit below the quotes printed at the time. An open position is marked at the last close.
The 19 trades
The median closed trade returned -0.94% and lasted 44 days, which means a typical trade lost money while a few large winners paid for it. The shortest trade lasted 2 days and the longest 198.
The five best were 50.98% from 2023-03-15, 30.21% from 2025-06-03, 12.61% from 2023-11-15, 11.82% from 2021-05-25 and 8.49% from 2023-01-23. Four of the five lasted between 133 and 198 days. The two best are separated by two years and are the profit of the test. They happened after the fund had already turned up, which fits a rule that needs a 5% quarterly gain before it buys.
The five worst were -12.54% from 2022-09-13, -11.75% from 2022-08-10, -6.39% from 2024-05-15, -3.69% from 2025-12-23 and -3.01% from 2026-02-25. The last of them lasted 2 days, from 2026-02-25 at 69.07 to 2026-02-27 at 66.99. Two of the five came in a 2022 bear-market rally that failed, and the 20 and 9 day holds show how fast a leveraged fund reverses.
By exit year the rule closed 2 trades in 2021, 3 in 2022, 3 in 2023, 3 in 2024, 2 in 2025 and 5 in 2026, with 2, 1, 2, 1, 1 and 1 wins. The 5 trades of 2026 were mostly short: 2026-08-05 for 6 days at -1.28%, and 2026-09-23 for 7 days at -1.6%. The open trade from 2026-10-02 is the most recent signal.
Re-entries after exits: where the switch bought back
The full trade list shows how often the rule sold and then bought again at a different price. On 2023-03-08 it sold at 21.21, and a week later, on 2023-03-15, it bought at 20.83, a slightly lower price, which started the 50.98% trade. On 2025-12-18 it sold at 69.43 and re-entered on 2025-12-23 at 71.72, then sold on 2026-01-21 at 69.07 for -3.69%. The next entry on 2026-02-25 was at the same 69.07 and sold two days later at 66.99. Those two small losses came from a fund that was moving sideways, which is the condition that hurts a quarterly return rule most.
After the sale on 2026-07-30 at 80.52 the rule bought back on 2026-08-05 at 92.99 and sold on 2026-08-11 at 91.80 for -1.28%. The 2026-09-23 entry at 97.48 sold a week later at 95.92. The open position from 2026-10-02 sits at 98.29. In 2026 the rule closed five trades and only one won, the 5.23% trade from 2026-04-20 to 2026-07-30.
The 128-day trade from 2024-10-23 at 51.12 to 2025-02-28 at 50.64 lost 0.94% and then left the rule in cash for March, April and May 2025. The fund's own drawdown of 41.85% bottomed on 2025-04-08, so the cash months overlapped the low. The rule bought again on 2025-06-03 at 53.32.
Largest drawdowns
| Peak | Low point | Depth | Days to low | Recovered | Days to recover |
|---|---|---|---|---|---|
| 2021-11-19 | 2023-01-19 | −36.1% | 426 | 2023-06-12 | 144 |
| 2024-07-10 | 2024-10-31 | −29.2% | 113 | 2025-10-27 | 361 |
| 2026-06-02 | 2026-09-28 | −22.6% | 118 | not yet | – |
Buy-and-hold's deepest drawdown ran from 2021-11-19 to 2022-12-28 and reached −62.8%.
Drawdowns
The rule's deepest drawdown was 36.13%, from a peak on 2021-11-19 to a trough on 2023-01-19, 426 days later, with recovery on 2023-06-12 after another 144 days. The second was 29.17% from 2024-07-10 to 2024-10-31 and took 361 days from the trough to recover, on 2025-10-27. The third, 22.59%, began on 2026-06-02 and reached its low on 2026-09-28, 118 days later, with no recovery as of the last day.
Buy-and-hold fell 62.82% from 2021-11-19 to 2022-12-28 and recovered on 2024-05-28. Its second was 41.85% from 2024-12-16 to 2025-04-08, and its third was 25.87% from 2024-07-10 to 2024-08-07. The fund's own profile lists the first at 63.68%.
The two series share the same starting peak, 2021-11-19, but the rule's trough came three weeks after the fund's. The position held from October 2021 to 2022-01-19 gave back gains, and the two failed entries of August and September 2022 pushed the rule's low out to 2023-01-19. The cash months before them kept the fall from being larger.
The 29.17% drawdown of 2024 happened in a year in which the fund returned 42.1%, so the rule lost ground in a rising market. The 2026 drawdown of 22.59% started from the rule's own high in June, the month after its best month.
With trading costs
The headline run fills at the bar price. These runs charge slippage on every fill.
| Slippage per fill | CAGR | Max drawdown | Final value | Sharpe |
|---|---|---|---|---|
| None (headline) | 10.8% | −36.1% | $18,039 | 0.52 |
| 5 basis points | 10.5% | −36.3% | $17,724 | 0.51 |
| 10 basis points | 10.1% | −36.5% | $17,394 | 0.49 |
Trading costs
At 5 basis points per fill, CAGR is 10.48%, drawdown 36.31%, ending value $17,723.66 and Sharpe 0.507. At 10 basis points, CAGR is 10.12%, drawdown 36.52%, ending value $17,394.17 and Sharpe 0.495. The headline run has no cost, so these two runs bound the likely range.
The rule made 37 fills in the headline run, with holds long enough that the cost is small next to the gains. QLD trades about $285,882,203 a day, with a median minute volume of 8,796 shares, so small orders fill close to the quote. A real spread on a leveraged fund widens in stress, and the test does not model that.
Changing the parameters
| Version | CAGR | Max drawdown | Round trips | Win rate | Final value |
|---|---|---|---|---|---|
| Published rules | 10.8% | −36.1% | 18 | 44% | $18,039 |
| Enter above 0% | 15.1% | −36.5% | 30 | 50% | $22,463 |
| Enter above 10% | 5.6% | −40.6% | 16 | 44% | $13,705 |
| Enter above 15% | 3.3% | −41.1% | 11 | 45% | $12,019 |
Parameter variants
Each variant moves the entry threshold and leaves the exit at 0%. Entering above 0% returned 15.14% a year with a 36.49% drawdown, 30 trades and 15 wins. Entering above 10% returned 5.64% with a 40.59% drawdown, 16 trades and 7 wins. Entering above 15% returned 3.25% with a 41.14% drawdown, 11 trades and 5 wins.
The results run in one direction. Every step up in the entry bar made the CAGR lower and the drawdown deeper, with fewer trades. The base setting of 5% sits between the 0% version at 15.14% and the 10% version at 5.64%. Raising the bar asks for a stronger quarter before buying, and on QLD that meant buying after more of the gain had happened. The Sharpe ratios were 0.644, 0.341 and 0.254 against 0.52 for the base.
The lowest bar did best, which means the buffer between entry and exit cost more in missed gains than it saved in whipsaws on this fund. That is a finding about one window. A 0% entry with a 0% exit has no buffer and trades more, 30 against 18 round trips, and over a different period the extra trades could cost more.
How QLD behaved
| Measure | QLD |
|---|---|
| Data in this test | 2021-01-04 to 2026-10-02 (1444 sessions) |
| Total return, buy and hold | 254.3% |
| Annualized volatility | 44.8% |
| Deepest drawdown | −63.7% (2021-11-19 to 2022-12-28) |
| Up days | 54.3% |
| Average daily range | 3.14% |
| Average overnight gap | 1.19% |
| Correlation to SPY | 0.94 |
| Correlation to QQQ | 1.00 |
| Correlation to TLT | 0.09 |
| Sessions above the 200-day average | 72.3% |
| Crossings of the 200-day average | 24 |
| Falls of 10% or more from a 20-day high | 50 |
How QLD behaved
QLD returned 254.26% over the window, a CAGR of 24.65%, with a maximum drawdown of 63.68% from 2021-11-19 to 2022-12-28. Over the calendar years QLD returned 59.1% in 2021, -60.54% in 2022, 117.25% in 2023, 42.83% in 2024, 30.28% in 2025 and 39.59% in 2026 to date. It rose on 54.26% of days.
SPY was not the underlying here. QQQ returned 151.07% over the same dates, and twice that is 302.14%, against 254.26% for QLD, a decay gap of -47.88 points. By year the gap was +0.74 in 2021, +4.25 in 2022, +7.64 in 2023, -8.36 in 2024, -11.26 in 2025 and -5.29 in 2026. Realized beta to QQQ was 2 with an R-squared of 1. Beta to SPY was 2.57 and to TLT 0.26, with a correlation to QQQ of 1.
The best days were 23.52% on 2025-04-09, 14.69% on 2022-11-10 and 9.15% on 2022-11-30. The worst were -12.19% on 2025-04-04, -11.06% on 2022-09-13 and -10.71% on 2025-04-03. The 2022-09-13 day of -11.06% fell on the day the rule bought, and the position lost 12.54% in nine days.
Price held over the 200-day line on 72.29% of sessions and crossed it 24 times. There were 50 episodes of a 10% fall from a 20-day high, covering 309 days. RSI(14) went below 30 on 18 sessions, and the median 5-day gain afterwards was 6.11% against a 0.94% baseline. RSI(2) below 10 came up on 151 sessions with a median 20-day gain of 3.48% against 2.81%.
TQQQ, QQQ and QQQM tracked it at a correlation of 1, with VOOG and ROM just under. The inverse funds SQQQ, QID and PSQ were at -1.
Among leveraged funds the switch returned 16.43% on SOXL, 9.75% on SPUU, 8.63% on SSO and 8.45% on ROM. It made 7.66% on TQQQ, 7.63% on TECL, -2.46% on FAS, -4.02% on UST and -13.16% on TMF. QLD's 36.13% drawdown was shallower than most of them: 38.59% on SPUU, 39.52% on SSO, 55.44% on TQQQ and 74.16% on SOXL.
QLD by calendar month, weekday and overnight return
Averaged over the window, QLD gained most in May at 9.97%, November at 8.28%, June at 4.96% and October at 4.87%. July averaged 4.12%, January 2.46% and April 1.57%. The losing months on average were September at -3.65%, February at -2.2% and December at -1.53%. Each month has five or six observations, so these are descriptions of this run and not a calendar rule. They do show why the rule's September 2021 and September 2022 losses of 11.23% and 12.29% sat on the weakest average month.
Weekday averages were small: Monday 0.35%, Wednesday 0.19%, Friday 0.05%, Tuesday 0.04% and Thursday 0.03%.
Most of the fund's gain arrived overnight. The overnight log return was 78.63% and the intraday log return 44.07%, a split of 64.09% to 35.91%, with an average overnight gap of 1.19%. The rule signals on a close and buys at the next open, so it pays the gap on entry and collects it while invested. On the days when the rule held nothing, it also missed the overnight share of the fund's return.
The rules
Hold while the trailing 3-month return is positive (above +5% to enter, below 0% to exit).
- WHEN the market opens · IF not invested AND the 63-day return > +5% · THEN buy with 98% of the sleeve
- WHEN the market opens · IF invested AND the 63-day return < 0% · THEN sell the whole position
Time-series momentum on a quarterly lookback, the horizon much of the academic momentum literature uses. The template enters after a +5% three-month run and exits when the same measure turns negative. The gap between entry (+5%) and exit (0%) is a buffer against flip-flopping around a single threshold.
Good for: assets with long, persistent cycles, such as index, sector and managed-futures ETFs.
Watch out: a three-month lookback is slow; V-shaped crashes and recoveries can see it exit near the bottom and re-enter well off the low.
A slow signal on a fast fund
A 63-day return looks back roughly one quarter of trading days. The rule enters after a gain above 5% and exits when the same measure drops below zero. The gap between the two thresholds is a buffer, so that a fund hovering near flat does not trigger repeated switches.
QLD is a hard fund for a slow signal. Annualized volatility was 44.77%. Up days averaged 2.02%, down days -2.15%, and the daily range ran 3.14% on average. A fund that moves like this can lose more in two weeks than a quarter-long return can register. The rule reads a number that is three months old at the moment it reacts.
The exit shows the cost. A 63-day return turns negative only after the fund has already fallen well below its recent high, and the sale then fills at the next open. The three worst trades of the test were all sold after a sharp reversal: 2022-09-13 to 2022-09-22 for -12.54%, 2022-08-10 to 2022-08-30 for -11.75%, and 2024-05-15 to 2024-08-06 for -6.39%. The entry has a matching problem. A quarter of strength is a late signal, and the first days of a recovery are already behind by the time the 5% threshold is met.
The lag-1 autocorrelation of daily returns was -0.04, so there was no persistence from one day to the next. A quarterly lookback does not rely on that. It needs runs of weeks, and QLD had them in 2021, 2023 and 2025. In the choppy stretches of 2022 and 2024 it had short cycles that the rule caught late.
The other templates on QLD
Ranked by CAGR on QLD, the RSI(2) snapback made 26.17%, the weekly 7% target 25.62% with a 44.39% drawdown, the momentum breakout 22.49% with a 20.1% drawdown, and the 200-day regime filter 21.57%. The monthly cycle made 20.58% with a 65.05% drawdown, and the SMA 10/50 trend 18.76%.
The dip buyer made 18.58% and trend plus trailing stop 17.16%. The golden cross made 11.99% and the EMA 12/26 trend 10.85%, a hair above the 3-month switch at 10.82%. RSI mean reversion was last at 8.78% with a 48.1% drawdown.
The QLD hub ranks all twelve. Limits: one window, daily decisions, no margin and no fees in the headline run.
Build it from blocks (or type it in English), backtest it on 5.7 years of minute data in seconds, tweak any parameter, then paper trade it on live data. No card, no broker needed to start.
Frequently asked questions
Did 3-month momentum beat buy-and-hold on QLD?
Over 2021-01-04 to 2026-10-02, 3-month momentum on QLD returned 10.8% annualized vs 23.6% for buy-and-hold: it trailed buy-and-hold by 12.7% per year, with a maximum drawdown 26.7 points shallower than holding (36.1% vs 62.8%).
How many trades did it make?
18 completed round trips over 5.7 years (37 fills), with 44% of round trips closing profitably.
Why 63 days?
63 trading days is about one quarter, a common momentum lookback. You can sweep it in DeployQuant to see how the horizon changes results.
How did the 3-month momentum switch do on QLD?
It turned $10,000 into $18,039.36 from 2021-01-04 to 2026-10-02, a CAGR of 10.82% with a 36.13% maximum drawdown. Buy-and-hold on QLD ended at $33,675.63 with a 62.82% drawdown. The result is hypothetical and has no fees.
What are the entry and exit rules?
A 63-day return above 5% triggers a buy of 98% of the sleeve, and a return under 0% triggers a full sale, both at the open.
How many trades did it make?
It closed 18 round trips and won 8 (44%), with a 19th open at the end. The median closed trade returned -0.94%. The best trade made 50.98% and the worst lost 12.54%.
Does a lower entry threshold help?
On QLD in this window, yes. Entering above 0% returned 15.14% a year, against 10.82% for the base rule. Entering above 10% returned 5.64% and above 15% returned 3.25%.
Which year did the rule beat buy-and-hold?
Only 2022. The rule lost 32% while QLD lost 59.7%. In the other five years the fund did better.
Do costs change the result?
Slightly. At 5 basis points per fill CAGR is 10.48%, and at 10 basis points it is 10.12%. The rule made 37 fills over 5.74 years.
What is the leverage decay on QLD?
QLD returned 254.26% against 302.14% for twice QQQ's return, a gap of -47.88 points. The [strategy hub](/learn/strategies/quarterly-momentum/) shows how the rule did on other leveraged funds.
Related
Backtests are hypothetical, computed by DeployQuant's engine on minute-resolution consolidated US market data (2021-01-04 to 2026-10-02, $10,000 starting capital, no margin, no fees or slippage in the headline run; buy-and-hold puts 98% of the account in at the first open, as the templates do) and do not guarantee future results. Nothing on this page is investment advice. Live trading involves risk of loss.