A Main Trade is identified by the Methodology §5.1 and is chosen and implemented by the Investment Manager. The Trade Participation §5.10 percentages are determined by the AUM of the Limited Partner §6.11 at the time of the Main Trade. Any new money waiting to be invested through Additions and Subscriptions §6.1 is included in the Next Main Trade §5.9. Risk Management §5.4 and Money Management §5.5 determine the amount of Instruments §5.2 traded to maintain the discipline of risking no more than 5% of the AUM of the Fund §6.8.

Once in a Main Trade, the only exit from the trade is through partial Withdrawals and Redemptions §6.2, exits determined by Risk Management §5.4 or Investment Manager decisions to replace it with a more advantageous trade. During a Main Trade there are times when the market intersects with the counter wave and provides an opportunity for a Synthetic Straddle §5.7. This situation provides the opportunity to take some profits and temporarily frees up capital that can be used for a Synthetic Extra Trade §5.8.