Managing Funds for a Living

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In case anyone is still following this train-wreck, looks like the end is here. The system on C2 is closed, here are the final stats:

Trades 374
Profitable 149
Losses 225
Win % 39.8%

Cumu $ ($42,002)
after typical commission ($64,124)
Sharpe Ratio -1.339
Max Drawdown 51.36% (20071126 to 20071128)


Original post from paysense:
What we have is very consistent, comparibly low risk approach to exponential growth that launches into the stratosphere in a very short while. Loss periods are similarly contained through stops and emulate pullbacks as (mildly) seen from this chart. So you see downside is contained and upside predictable (as long as people continue to work and companies continue to grow profits: ).
...
The only credibility I have is that I can very easily emulate my published results that will strongly correlate (visibly) within about 6-9 months.
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thx but no thx for the narrow-minded.

There are no doubt many that follow and will continue - although clues may be less obvious.

All has been pointed out and accomplished - even the post GTS left out the one that would have occurred in between his last two.

That one showed that yes ~50% win% is not reflected as accurate stat-wise with C2. Two, difficult market period aligned with the last 6 months of my C2 Fund and up till last day or two trajectory and loss containment was just fine.

Three, gains were beginning to unfold in-line with annual expectations and use of various instruments proved very beneficial to reaching goals.

Last few ES/NQ trades - new in use to me - work/worked well, but were not hedged appropriately as I basically abandoned this fund (6 month listing fee was due) and I opted to manage on C2 a better strategy that trades ES/NQ/YM/ER2/EMD/SMC futures along with market direction (see KC Partners, sorry Baron just this one;).

I still manage my website that trades just covered calls and is lagging of late but will eventually recoup outperformance. It is still the only successful covered call fund I have seen and results continue to still be in-line and quite accomplished.

The old fund was a bit exhausting, the new fund is quite hopeful.

Your posting like yourself has the exact value it deserves. I hope the best for your trading.

Interested parties go to C2 and bookmark my new fund as numerous updates do not seem to be necessary like in the past. We shall all see how gains actually do unfold and yes, you may then post C2 stats:p

paysense
 
Quote from paysense:
First off, my 'fully-developed' strategy has been such for quite some time. I literally do quite remarkable 'in my sleep'.
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Quote from paysense:
As they say...the proof is in the puddin' and I'm not "puddin'" anyone on when I say these funds rock. But we'll let YOU be the judge!
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Quote from paysense:
I gave up a high-paying day job and my home to my ex-wife and now manage full-time a subscription-based investment training website.
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You shouldn't have given up your day job.

Even before this sudden decision to change trading styles (and consequently blow out your C2 account) you completely failed to live up to the performance promises you made over and over again.

Its funny how someone claims that they have been successful for years but as soon as they start doing audited trades the performance cannot be repeated/maintained. Scartch that, maybe its not that funny.
 
GTS,

I guess it is easy for you to ignore any of my work that did progress throughout the months.

Just look at the day-to-day movement in value of my C2 Fund throughout each trading day of each month and then contrast that with the market we have had to deal with.

It should also be apparent these past months, that my management has evolved with the inclusion of some useful trade types not used with my "proven" <i>strictly</i> covered call strategy at my training site.

At C2, I will now be exclusively using NQ/ES/YM/ER2/SMC/EMD futures both long and short as the market dictates.

What should be plain to see is but a moot point. I look now to progress from what I feel to be a much improved strategy and will let that speak for itself. I wouldn't have made the transition if I wasn't quite certain of its expected results!

Gilbert:cool:
 
Quote from paysense:

GTS,

I guess it is easy for you to ignore any of my work that did progress throughout the months.

Just look at the day-to-day movement in value of my C2 Fund throughout each trading day of each month and then contrast that with the market we have had to deal with.

It should also be apparent these past months, that my management has evolved with the inclusion of some useful trade types not used with my "proven" <i>strictly</i> covered call strategy at my training site.

At C2, I will now be exclusively using NQ/ES/YM/ER2/SMC/EMD futures both long and short as the market dictates.

What should be plain to see is but a moot point. I look now to progress from what I feel to be a much improved strategy and will let that speak for itself. I wouldn't have made the transition if I wasn't quite certain of its expected results!

Gilbert:cool:
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I see all three of your C2 strategies are down quite a bit at the moment - one of the new ones is down about 40%. Were you anticipating a 40% DD?

Maybe I'm wrong about this, but saying something like "...with the market we have had to deal with" is not really taking responsibility for your performance.

Someone with your mindset and experience base, i.e. a covered call strategy, shouldn't be moving into futures. I think you're asking for trouble there as you've demonstrated a lack of risk management and general trading ability.

Its time to fess up to your track record and re-evaluate. At best you've mislead a large number of people - hopefully not your "funds client's" though... that's trouble I don't wish upon anyone.

Mike
 
Hello Mike,

It is a bit too soon, but my new C2 systems I believe will answer the call. In my "Elite" fund, 40% DD will be seen nicely if soon overcome and never revisited.

Which is exactly what I plan to do.

:)

Regards,

Gilbert
 
I love it. In the long-run you can't manipulate the market. And with the latest Fed shenanigans: what goes up must come down.

Of course, unless institutions feel now is the time to accumulate shares. Looking at volume pre- and post-announcement, this idea doesn't lend much conviction.

I say we re-test the lows and with more bad news likely to unfold - along with the Fed having shot their wad (and credibility) - we continue with the (down) trend.

Even though many here say TA dictated two up days was a reversal???

So my covered call funds that ramp up gains off bottoms to corrections felt Mar '07 was an opportunity - until the perma-bulls felt we had to immediately move back up!

Then August came and with it the hope for a correction along the lines we had in '06 - but NO the Fed "surprised" the market and back up we went. Then again in Nov '07 into the year-end to further increase volatility.

So for a full year, perma-bulls continued to rack up huge gains, while my CC approach could "only" yield 12% for all of 2007. Things don't look so bad now since going completely into cash 04-Jan-2008, but I don't think the Fed gets it. The best stock fund I've seen was the IBD 100 that ended 2007 with ~50% in gains, but even that has been decimated these last few weeks to around 15% year-over-year (approx).

You can only prolong the inevitable. BTW I started what I feel to be a much better approach using futures calling each new market rally within days and each market correction before most of the carnage unfolds. This is at Collective2.

So a low margin index futures account is doing fine and I feel has some great promise. But the higher margin-version had me in "hold-n-hope" mode with the latest Fed shenanigans - before I could iron out my more proper margin schedule.

It may be a bit to soon to tell - but I think this latest leg up is wearing out. Even the hold'n'hope fund (although now revised) has a chance to move up in stellar fashion.

FYI the above link is not to my C2 accounts, but to some of my previous discussion here at ET.

paySense
 
Quote from paysense:

Thanks, looks interesting to check out.
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