Tracking CTAs since 1994
Bellator Capital, LLC.
Jayne Trained Program
Principal(s): Michael Lung, Steve Georgy & John Georgy
Strategy: Behavorial / Ags with Energy & Equity Macro Overlay
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The Jayne Trained Program is behavioral-based program with a focus on Agriculture markets with a Energy and Equity overlay for macro-based risk management. The strategy utilizes an automated system for trade discovery with a discretionary factor for trade placement. Future contract will be mostly utilized, but options will be used to help offset positions and mitigate risk.
The Jayne Trained Program seeks to manage risk by assigning a risk tolerance based on volatility metrics. The risk tolerance metric may then be covered based on the confidence levels of the risk metric being hit. The program will mostly utilize futures, but options will be used to help offset positions and mitigate risk.
Bellator Capital manages position risk in multiple levels: 1) Sentiment Risk - How other large players are positioned in the market, 2) Event Risk - What is the chance that certain reports will move the market in a large swing, 3) Trend Risk - How likely it is that market trends will continue or reverse, 4) Positional Risk - Confidence levels of position being stopped out or profit targets getting hit. Based on these criteria, the JTP scans the market for the best options to buy to cover risk based on timeframe and associated costs. Covering risk in this matter instead of pre-placed stops helps avoid slippage due to the chance of a fast market or overnight illiquidity.
Michael Lung, CMT is the Trading Principal and co-owner of Bellator Capital LLC. Michael started in commodities as an associated person with Allendale Inc, an Introducing Broker, on March 27, 2018 and moving to Director of Brokerage in November of 2020. During his time at Allendale, Michael developed a strong understanding of the underlying factors that push commodity markets, how to measure market perception via merging technical and sentiment analysis to form a behavioral model, and developed an understanding of how to manage large accounts with unpwards of 10 million in combined value and the risk associated with them. Mr. Lung is a holder of and has the right to use the Chartered Market Technician® designation as of March 27, 2023. CMT® and Chartered Market Technician® are registered trademarks owned by CMT Association.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -2.56% | -0.52% | -2.01% | 3.39% | -2.05% | 1.50% | 0.52% | -0.84% | – | – | – | – | -2.68% | -5.02% |
| 2024 | – | – | – | – | – | – | – | – | 0.04% | -2.36% | 0.16% | -1.18% | -3.32% | -3.36% |
Track Record Compiled By: N/A
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.>
Risk Disclosure
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.
THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.
AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.