Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading_15

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Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading_15 From time to time throughout this period, the accountswere capitalized in part by notional funds. The notionalfunds were included in the calculation of performance.Performance data is reported in accordance to format andValue Added Monthly Index (VAMI) specified by theCommodity Futures Trading Commission (CFTC). Neitherthe CFTC nor the National Futures Association (NFA) hasreviewed this material. From April 1991 through April 1995, I granted a power ofattorney over my proprietary accounts to another trader.However, because I made periodic trading decisionsduring this time, the performance of this trading period isincluded herein. The drawdowns of this period are notincluded in a table reporting the size and duration ofdrawdowns in Factor LLC’s proprietary trading in Table9.1. I retired from the trading business from April 1995through the end of 2006. During this period I pursued somenon-profit political and social endeavors. In January 2007, Ionce again began trading a proprietary account using theprogram represented by this book. In September 2008, Iwithdrew funds from the proprietary account to below thelevel required to implement the trading program describedin this book. However, I took very selected trading signalsfor my proprietary account in 2009 and experienced aprofitable year. The performance of the proprietary trading record from1981 through 2008 was at a leverage of three times thatcurrently employed by Factor LLC. IndexAnticipatory signal. See Major anticipatory signalApple Computer, H&S bottom inAscending triangle: copper failed DAX Nasdaq USD/CAD failedAssets. See Equity balanceAUD/CAD, triangle and lossesAUD/JPY, reversal symmetrical triangleAUD/USD: continuation patterns major breakout signal trade reversal rising wedge seven-month double bottomAverage investors, advice forBabcock, BruceBarclay CTA Index, versus S&P 500 IndexBear hikkake patternBear market, in EUR/USDBear trap gold soybeans“Best Dressed List” continuous patterns in copper eight-month H&S bottom in S&P evolution of plan and lack of four-month H&S bottom in NZD/USD fourteen-month coil and nine-month descending triangle in EUR/CHF fourteen-month symmetrical triangle in sugar H&S bottom in crude oil seven-month double bottom in AUD/USD seven-month triangle in gold six-month ascending triangle failure in USD/CAD six-month wedge in EUR/USD sixteen-week horn in GBP/USD summaryBest practices, in Factor Trading PlanBig Short: Inside the Doomsday Machine, The (Lewis)Black box systemsBottom line trades/bottom linersBoundary lines: breakouts ice line Last Day RuleBreak-away gap, in cornBreakouts. See also Major breakout signal; Minor breakoutsignal channel, EUR/GBP exiting at loss false gold premature retest of secondary T-bondsBrent Sea oil. See Crude oilBritish pound. See GBP entriesBull hikkake patternBull market: copper of 2009, H&S bottom andBull trap EUR/USDCampbell’s SoupCandlestick chartsCapitalization, needed for trading plan. See also EquitybalanceCase studies DJIA long and short trades year of trading gold year of trading sugarChart book economistsChart redefinition, gold trade andCharts. See Classical charting principlesChesler, DanCHFChicago Board of Trade (CBOT)Choppy markets: gold sticking to plan in sugarClassical charting principles benefits of chart trading history of ideal chart patterns limitations ofClosing price, importance ofCocoa, premature breakout inCommodities, as percentage of liquid investment assetsCommodities Corp.Commodity/forex traders: favoring 30 percent right approach over 70 percent right approach performance of reasons for profitability ofCommodity pool accountCongestionConsolidationContiContinental Grain CompanyContingency ordersContinuation H&S patterns: Dow utilities gold Russell 1000Continuation patterns. See also Minor continuation signal copper crude oil EUR/USD exiting at profit GBP/CHF GBP/JPY GBP/USD gold soybean oil sugar USD/CAD wheatCopper: bullish pattern series continuation pattern major breakout signal trade missed trade reversal H&S patternCorn: break away gap major breakout signal trade minor continuation signal tradeCorrelation, between marketsCotton, miscellaneous trades ofCRB Index, December 2009–April 2010 chartCrude oil: continuation rectangle and pyramid triangle H&S bottom horn Last Day Rule major anticipatory signal trade major breakout signal tradeDaily charts, us ...