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Dear Steve
The drawdowns were actually in the neighborhood of 35%.
Mechanically yours,
John
------------------ Reply Separator --------------------
Originally From: "Steve McGuire" <netvest@xxxxxxxxxxxxxxxx>
Subject: Re: Mechanical Trading
Date: 01/22/98 12:55pm
You say the drawdowns are hell but if you are running the account at 2 times
margin, what percent would that be?
>From their information, I would judge that to be about 25%. Is that your
experience?
-----Original Message-----
From: John Cappello <jvc689@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, January 22, 1998 12:51 PM
Subject: Re: Mechanical Trading
>
>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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