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Dear Jim,
Most of us do use a first day stop on the S&P.I know it is my only system violation.
The drawdowns are hell but the recoveries are rapid and usually to new equity highs.This seems to be related to the fact the wins are atleast 2 times the losses in dollar terms.
Mechanically yours,
John
------------------ Reply Separator --------------------
Originally From: HamerJP <HamerJP@xxxxxxx>
Subject: Re: Mechanical Trading
Date: 01/21/98 11:30pm
In a message dated 98-01-19 07:24:44 EST, Steve Schnake writes:
<< I too bought the $16,500 system that Jonn trades, back in 1996. It was a
little cheaper then, but after about 5 weeks it had re-imbursed me fully.
I'm still trading it. I vouch for what Mr. Cappelo has stated. >>
Steve:
I assume you guys bought the R&W system. I heard they got nailed for about 6
or 7 million in fines from the CFTC (I think with the way they marketed it or
the way they worded the hypothetical returns).
But I talked with some brokers who are trading it and they said it has had a
great year - but not without a pretty large drawdown earlier.
I like the way it hangs with a position (I heard it's been short the
currencies for a while), but I don't like the way it doesn't place a stop on
the S&P the first day (if I understand it correctly). Other than that it
sounds like a good system.
I hope it continues to make money for you guys.
Good luck,
Jim Hamer
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