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:) Thanks, ktm. My New Year's resolution is to not have any more drawdowns. :D

I don't think Weasel is correct about your friends not being able to pay you without a "securities license". What is a securities license, by the way? Do you mean the NASD Series 7 broker's license? I assume you are in the US and planning on trading securities (as opposed to futures)...

Thanks for pointing this out, Spect8or. Exactly. The more technically minded reader may find this <a href="http://www.schindlertrading.com/include/content/uploads/drawdown%20analysis.pdf">drawdown analysis</a> interesting.

<a href="http://www.hedgefundnews.com/news_n_info/article_detail.php?id=267">The Ins and Outs of Incentive Fees</a>

We tie the high water mark to each investor's individual account balance. If it were based on the NAV, then as a new investor, your fees would vary based on whether you invested at an equity peak or in a drawdown. You could avoid performance fees based on losses that _other_ people have...

This is in the Schindler Trading disclosure document: "The General Partner, its employees and affiliates, may act as investment advisors or investment managers for others, may manage funds or capital for others, may have, make, and maintain investments in their own names or through other...

We publish our monthly results within a few days of the end of the month, so look for July results in a week. You can find the results at http://www.schindlertrading.com/index.php?page=performance. There is also a box at the bottom of the page to enter your email address if you want monthly...

I'd rather hear answers from a manager who is up 20% YTD. Try Pavel, Surfer, Praetorian, Blueberrycake, or Dr. Zhivado.

The IRA investors in our limited partnership get their K-1 just like taxable investors. The only difference is that the account is in the name of the custodian and the tax ID number is the custodian's. Oh, and the other big difference is that you don't include anything from this K-1 on...

Are any of you familiar with the spam blocking programs on the market? Which do you recommend/use?

What a timely post, Saxon! Just this morning I saw a headline about Refco introducing an S&P index managed futures hedge fund. There was a link to Refco.com for more information. I was interested so I clicked over to Refco.com and after spending 5 fruitless minutes looking for info I gave it...

Any friends, family, mortgage or credit card companies you could borrow trading capital from? Any assets you can sell to raise capital? Since you are only making a trade a couple times a month, can you work a job to pay the bills and let your trading account grow?

The size on the bid or offer is all a function of contract volume and tick size relative to daily range. If a lot of people want to trade a lot of contracts and they are limited to a few different prices, you'll get big size on the bid and offer. For the ZB, for example, the average daily...

Take a look at the Excel DDE info in the TWS user guide on the IB website. It sounds like just what you are looking for.

Are you talking about the Quadriga performance results being confidential? What leads you to think that? They are posted on the web for all to see. I've posted the link earlier in this thread.

What proportion of your portfolio do you have in the Quadriga Fund, Kernan? Do you think that is too much?

Thanks for your interest. About our drawdowns... The Schindler Trading program is very volatile. We've got a 14% standard deviation of monthly returns. String a few lousy months together and you get a big drawdown. String a few good months together and you get a big runup. For example, in...

Ah, good thinking. Thanks.

Can anyone recommend some basic, cheap (sub $50) software for creating program flowcharts? I'm just looking to make rectangles and decision diamonds and connect them with arrows.

I've been asked for the link to the Quadriga performance. It is http://www.quadrigafund.com/en/fondsQuadrigaHF_IE.asp