Welcome to Tactical


Tactical Investment Management traded for investors continuously for 42 years from July 1, 1981 through June 30, 2023 using an algorithmic trading system. It is no longer actively trading. This website is maintained, frozen in time, for people doing historical research into commodity futures trading.

Tactical's composite performance including all accounts ever traded over its 42-year history was 15.6% per annum compounded, after all fees and expenses. An initial $1,000 investment would have grown to $429,973.

Tactical discontinued operations because my two associates since 1984, Collen and Paul, both suddenly announced their desire to retire due to health reasons. It was impossible to replace both these incredible people concurrently. The only ethical decision, which I made with great sadness, was to stop trading.

As Tactical bids farewell, I humbly offer the following closing remarks for those researchers who aspire to become traders or fund managers themselves. I hope they are of some value.

Always remember that futures and forwards trading is a zero-sum game. If you win, someone else must lose. Managed futures is an entirely skill-based asset class, as opposed to traditional assets like stocks, bonds, real estate and collectables where a passive buy and hold can yield a return.

To succeed in the long run, you must bring something special to the table. You must identify an edge unique to the crowd. And you must apply that edge with consistency for the probabilities to work in your favor. If you don't have a clearly identifiable edge in your overall methodology, don't trade.

Use dispassionate and wise discrimination in developing and implementing your approach. Pay very little attention to news, social media and what others say. A tragically large percentage of the population is now so brainwashed by propaganda they cannot tell truth from lies. You must be far smarter than that.

The most difficult times are the drawdowns, some of which may last years. Drawdowns are a normal part of trading. They do not necessarily mean something is wrong with your system. How you handle drawdowns determines whether you will survive and prosper.

Only trade with money you can afford to lose. That applies to investors in managed futures as well as traders. No matter how renowned a manager is, they may still flame out. Many have. There are no guaranteed returns in this business.

Never, never give up. You can do it if you put your whole heart into it. But you must put more of your heart into it than the other guy. Because remember, this is a zero-sum game.

Finally, may you ever employ Tactical's motto and maxim since 1981--Patience and Discipline!

Dave Druz
December 31, 2023



Phone: 808-638-8032
Fax: 808-638-9609


Tactical Investment Management Corporation  •  Commodity Trading Advisor / Commodity Pool Operator since 1981  •  David Druz CEO

2023 Tactical Investment Management Corporation