How to Fix a Trend Following Golden Goose

Mulvaney: Traders who cut profit short, come on, don't blame it all on your poor client. He says a systematic trading is built upon this whole idea of as you add more markets and as you get better systems and your risk goes down, you can trade larger. Mulvaney's open trade equity fluctuates and have these huge swings, even though he's still up 20, 30, 40, 50% for the year. But underneath the hood, you don't see this incremental large loss every time we take a loss, said Mulvaney.

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