Trading Systems Changelog

Galahad v2.0 - August 7, 2025

  • Replaced TMF trend exposure for GLD
  • Adjusted weightings across trend positions
  • Introduced futures as a means of trend exposure replication

Merlin v2.0 - March 14, 2025

  • Final trading day of the Merlin Trading System. Trade Risk will no longer be offering this strategy on the site.

Galahad v1.1 - February 13, 2025

  • Replace core VOO exposure with XLV, XLP, XLK
  • Variable VGSH weight to minimize margin usage
  • IBIT position size adjusted

Merlin v2.0 - October 7, 2024

  • The individual risk per trade position size has moved higher (reversing the v1.22 reduction). This will reduce the total number of positions held by Merlin but does not introduce more risk in the overall portfolio.
  • New trade management rules: removal of the second and final profit target and introduction of a trailing stop loss that will move up only after the first target has been achieved. Merlin will still have an initial profit target but the remainder (and bullk) of shares will be managed in a trend-following approach.

Galahad v1.0 - February 1, 2024

  • Launch of the Galahad trading system – a trend-following system for ETFs that also holds a fixed allocation to stocks, bonds, bitcoin, and gold.

Merlin v1.22 - December 18, 2023

  • Trading sector/index ETFs are now also limited to "risk on" growth environments only
  • Expanded stock universe by adding additional qualifying fundamental criteria around EPS
  • Reduced the initial risk per trade for both ETFs and stocks by 20% to account for the new larger stock universe (aka more signals)

Lamorak v1.1 - December 28, 2022

  • Updated short-selling requirements for new entries. This will result in fewer short trades going forward. Historical testing shows no significant change in total returns, but an improvement in downside risks and overall system win percentages.

Merlin v1.21 - November 22, 2022

  • Updated trading universe to include individual energy stocks (formerly this sector exposure was XLE only)

Lamorak v1.0 - October 7, 2020

  • Launch of the Lamorak trading system – a long/short swing trading algorithm for trading large-cap stocks.

Merlin v1.2 - May 11, 2020

  • New trading rules released for defensive market states (replaces v1.1 permanent SHV allocation)

Merlin v1.1 - April 5, 2020

  • The use of leveraged ETFs will now be limited to "risk on" growth environments
  • introduced a position size cap for stocks only
  • Underlying stock universe now uses the Trade Risk 150
  • SHV (1 to 3 year treasuries) is now the default defensive "risk off" allocation

Merlin v1.0 - November 4, 2019

  • Public launch of the Merlin trading system – a long-only algorithm for trading individual stocks and ETFs.