Following the alerts

Every alert is entered at the first official opening price after the SEC accepts the filing: the same morning if the filing is accepted before 9:30 AM New York time, otherwise the next trading day. It is closed at the official closing price 63 trading days later. Every position gets the same amount.

A market-on-open order, placed before the open, takes part in the opening auction and is filled at the official opening price. A market-on-close order on the exit day is filled at the official closing price. Those are the prices the record uses. Not every broker offers these order types; check yours.

The record puts the same amount in every alert. With whole shares that amount often cannot be matched: for example, with $500 per alert, a $300 share means buying either one share for $300 or two for $600. Fractional shares solve this, because you can buy exactly $500 of any stock, so every position gets the same amount, as in the record. Market-on-open and market-on-close orders usually do not accept fractional shares. The alternative is an ordinary market or limit order shortly after the open, at 9:30 AM New York time, and on the exit day an ordinary order shortly before the close. The price then may differ a little from the official open and close the record uses; the difference is usually small for large companies and can be larger for smaller ones.

The US market opens at 9:30 AM New York time. An alert that arrives during the trading day or after the close is entered in the record at the next morning's open, so there is time to place an order before then; buying straight away during the day gives a different price than the record. The sell signal arrives the evening before the exit day.

Commissions and currency conversion come off the return. A fixed minimum per order, or a conversion fee on every trade, weighs more heavily on small amounts. Keeping US dollars on the account avoids converting on every trade.

The backtest figures are hypothetical and past performance does not predict future results. Individual positions can lose money, and results depend on your own costs, timing and choices.