Trading Systems Performance for February 2025
Below is a performance summary of our systematic trading systems for February 2025. To learn more and to follow along in real-time with signals, visit the Trading Systems overview page.
Closed Trade Statistics for February
The following stats do not include the profit/loss from open active positions.
| Measurement | Lamorak Longs | Lamorak Shorts | Merlin Trades | Galahad Trades |
|---|---|---|---|---|
| Total # of trades | 7 | 5 | 12 | 2 |
| Win Percentage | 100% | 40% | 33.33% | 100% |
| Win/Loss Ratio | N/A | 4.49 | 1.11 | N/A |
| Total % Captured | 16.71% | 5.71% | -3.9R | 49.25% |
Biggest performance contributors: MCHP, VRTX, AXP, DKS
Biggest performance detractors: XEL, PDD, TTD, UTHR
Evan’s live trading returns
Evan takes every signal the systems generate. His risk tolerance (position sizing) may be too aggressive or too conservative for you. These are net realized returns of his live trading accounts for this month and year-to-date.
| Trading System | February | Year to Date |
|---|---|---|
| Roundtable Portfolio | -3.88% | -1.18% |
| Merlin System | -9.14% | -4.74% |
| Lamorak System | +2.06% | +1.83% |
| Galahad System | -6.21% | -1.85% |
See Performance Disclosures: Monthly Performance. Evan uses Interactive Brokers as his primary broker and reporting agent.
A special farewell to Merlin
This month, we’ve made the difficult decision to wind down the Merlin Trading System.
Merlin holds a special place in Trade Risk’s history—it was the first fully quantitative, rules-based system we launched back in 2019. Over the past six years, it has evolved through multiple iterations and navigated a wide range of market environments. However, despite our patience, Merlin has struggled to deliver the level of performance we expect from our trading systems.
We’ve explored various changes to help Merlin adapt to current market conditions, but as seasoned system designers, it’s clear that further adjustments would push the system too far from its original ethos. We found ourselves wrestling with it more than we believe is appropriate to maintain the integrity of its original design.
Meanwhile, our Lamorak and Galahad systems continue to perform consistently and in line with expectations throughout this time. As a sneak peek, we also have a couple of new trading systems currently in beta testing, which are demanding more of Evan’s personal capital and attention.
As you know, we only offer trading systems on the website that Evan personally invests in. Since he’ll no longer be allocating capital to Merlin, it wouldn’t be right to continue producing signals or simulated returns for something he’s not actively trading.
For all these reasons, we’ll be officially sunsetting the Merlin Trading System. Moving forward, we’ll be directing more capital and research to Galahad and Lamorak, as well as to the new strategies currently trading live behind the scenes.
Thank you so much to everyone who has been following along and been apart of Merlin’s history.
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