By Nell Mackenzie

LONDON (Reuters) -Systematic hedge funds have lost money every day since October began, according to a Goldman Sachs client note.

These speculators, whose algorithms ride market trends until they peter out and who use market signals rather than views on the economic aspects of the company stocks they trade, have printed negative returns each day since the start of October, the note released late on Monday showed.

As of Monday, systematic or quantitative hedge funds were down around 1.8% for the month so far in one of the worst four-day trading returns in almost two years, said Goldman.

Losses stemmed from crowded trades and a sell-off where funds, seeking to curtail losses, rushed to dump bets simultaneously.

When traders rush for the exit, the markets move against t

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