Kpler study: max long TTF trend followers lost 7% historically, max short returned 25%

[Kpler] Trend-following CTAs that reach 100% long in Dutch TTF natural gas have historically lost 7%, while 100% short positions returned 25%, according to a Kpler study published Oct 21, 2026. Kpler said wider volatility-based exits let gains slip away. The study offers actionable insights into algorithmic trading behaviour.