The yardstick for December is £17,000. We reached that the first time on the 28th December and then had a down day and closed the year on a plus -final balance is shown on the report below and is to target so time for a good celebration this new years weekend.
Youll notice there are two reports this month - the monthly as usual and the quarterley report. The gain on the account has been just as expected and we are on target.
emotions this month started to play in - on one day of the month we thought we knew better than the system and could outperform it - we closed the position early at the point where it invariably went in the winning direction.
we then spent two hours trying to get back in at our original entry - we got it in the end and as it happened it was a losing day but thats not whats important - we should never have questioned the system and just played it as is.
Needless to say since that day we have stuck to it religously and will continue to do so.
The problem I think is boredom - when you find something that works well you try and try to make it better - big mistake in the case of moving entries.
On saying that we have spent some time in looking at the money management aspect of the system and as of January 2006 we will be implementing something which seems to give an extra 10-20% per annum on the take. This has been properley backtested and makes a marginal difference to drawdown but a substantial difference to end capital so we have deemed it worth the extra risk.
Next Target is on March 31st which is £32,000 - interim reports will of course follow each month.
all thats left is to wish you all a very healthy, happy and prosperous new year!
Quarterley Report
- Opening balance:£10,000
- Closing Balance: £ 17,088
- P/L: £7,088
- % Gain on account: 70.8%
- Lowest account value: £ 9,882
- Highest account value: £17,901
- Maximum Drawdown: £4,620 = 31.8%
Monthly Report - December 2005
- Opening balance:£13,767
- Closing Balance: £ 17,088
- P/L: £3,321
- % Gain on account: 24.12%
- Lowest account value: £ 12,702
- Highest account value: £17,901
- Maximum Drawdown: £3,332 = 19.6% peak to valley
