SYSTEM BACKGROUND:-
This system was originally conceived as part of a lengthy interview process with a prominent bank in an effort to demonstrate system performance and highlight my own credentials and trading expertise. In order for them to better analyze and assess the system's performance it was necessary to ring-fence it from my other funds under the Broadsword umbrella and set up a separate system with a second user name and free subscription for easy access and reference. Unfortunately due to the recent economic downturn, and despite the stellar performance, they will not be making any new hires this year so subsequently a decision was required regarding the system's future on C2.

One of the potential issues going forward is a defined system identity. I had mostly been using the long term trend following sign [Show Entire]

SYSTEM BACKGROUND:-
This system was originally conceived as part of a lengthy interview process with a prominent bank in an effort to demonstrate system performance and highlight my own credentials and trading expertise. In order for them to better analyze and assess the system's performance it was necessary to ring-fence it from my other funds under the Broadsword umbrella and set up a separate system with a second user name and free subscription for easy access and reference. Unfortunately due to the recent economic downturn, and despite the stellar performance, they will not be making any new hires this year so subsequently a decision was required regarding the system's future on C2.

One of the potential issues going forward is a defined system identity. I had mostly been using the long term trend following signals of Broadsword Macro plus discretionary or shorter term swing signals for equity and forex trades, much as I would if I were running a prop book again at an investment bank. I am already well aware of the dangers of multiple timeframes and varied signals within one system although I feel I have better assessed the danger of correlation with a stricter position size strategy than I had previously. For now I will continue to trade the system in the same way, using the longer-term signals of Macro for the major future contracts and forex pairs, and other discretionary short-term trades as I see fit which in any case are uncommon. The system will continue to be free of charge until I feel I have built enough of a track record to warrant charging subscriber fees.

Although there was absolutely no requirement for me to disclose or release such information I felt it was only right that as the original reasoning and intent behind the system changed you should at least be aware of it so you may take it into consideration when assessing the funds performance and future prospects.

Sincerely,
Jon Boorman, May 6th 2008


NOTES ON STATISTICS:-
Please bear in mind the P/L per unit is calculated per trade and then averaged, it is NOT Cumu $/ Total number of units. There is nothing wrong with that per se - it reflects what would happen if you traded with one unit in all trades - but for a system trading several asset classes in multiple sizes (single units of futures and then 1,000s of shares in stocks) it is rendered fairly meaningless and completely discounts the benefits of position sizing.

NOTES ON CLOSED POSITIONS:-
8/18 STC @QMU8 - Position rolled from Sep to Oct contract.
7/22 STC @USU8 - Position reversed and rolled from Sep to Dec contract.
3/18 STC @QMJ8 - Position rolled from Apr to May contract.
1/17 BTC @QMG8 - Position rolled from Feb to Mar contract.
1/11 STC NDH8 - Position was rolled from NDs to NQs to better represent signal.
1/10 BTC @TYH8 - This was correcting an error, it had been entered short instead of long.



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