Portfolio Construction The markets were never independent. They belong to the same system. The purpose of diversification is not to pretend otherwise. It is to make sure no single expression of that system determines our fate. Previous: System Anatomy 3:...
Commodities rallied together, equities paused, and the Barometer completed a round trip the market did not The TTU Trend Barometer jumped 11 points to 50 percent this week, its largest single week gain of the current sequence and enough to...
Every field has a vocabulary, and the vocabulary matters more than it looks. Terms like attractor, ergodicity, phase transition and power law are not decorative imports from physics. They are the precise language required to describe things classical finance cannot...
The Trends That Would Not Hold July was not a quiet month. Markets moved. Some moved violently. Trends appeared, strengthened and, in several cases, looked as though they might finally provide trend followers with something meaningful to work with. Then...
Position Sizing The formula is simple. What it protects us from is not. Position sizing is not an optimisation problem. It is an engineering problem built around one requirement: remain in the game. Previous: System Anatomy 2: Exit Logic |...
Introduction Systematic trend following posted a second consecutive negative month in July 2026. The benchmark fell -1.24 percent, almost identical to June’s -1.26 percent. The headline numbers look the same. The path could hardly have been more different. June was...
When Movement Refuses to Become Trend June was the month of the turn. July was the month when almost nothing stayed turned. For the second consecutive month, every benchmark in the Battle of the Trend Following Indexes finished negative. But...
Exit Logic The entry gets you in. The exit determines what happens next. Two rules. Two different problems. One keeps the mistake survivable. The other gives the extraordinary trade room to become extraordinary. Previous: System Anatomy 1: Entry Logic |...
Entry Logic The entry signal fires without certainty. That is not a flaw in the design. It is the condition under which the entire system operates. Previous: Introduction: The Programme, From the Inside | Next: System Anatomy 2: Exit Logic...
Global futures markets delivered a more selective week to Friday 14 August. Energy led at plus 5.33 percent, with all six contracts higher. Heating Oil surged 9.75 percent, Gasoline RBOB 6.66 percent, Brent 5.95 percent and WTI 5.40 percent, sharply...
