Portfolio @ micro & macro levels

A sum of stopped positions (micro vision)

• Do not argue with a loss (ISL) - Cut losses short on the ISL
• Never loose when you won (ZLS) – “Break even Stop”
• Let your profit run but know when a position is ripe (TSL) – Trailing Stops L&S - based on an analysis of the dynamics of each position

The equity curve also reflects a security’s behaviour (macro vision)

• COSMOS funds & accounts are analysed by the system as all other securities are, with similar means and objectives
• Trailing stops on the value of the portfolio (TSV) are computed while fast motions and rapid changes of portfolio’s value are recorded, especially when the system is high net « short »
• The system implements a complete politics of self analysis