Terrific Day

The market continues it's uncertainty but our system ended the day up again. As of this post the Alpari Demo (30+ days trading) account is up 7.25% equity and 30.2% closed balance. The Varengold Demo account (approximately 1 week trading) is up 7.2% equity and 7.4% closed balance.

At 12:30 PM EST today we closed all unhedged trade sequences and waited for the U.S. Interest Rate announcement release. As expected the U.S. Federal Reserve kept the Fed rate at 2.00% and in it's statements was dovish about future interest rate decisions. The market is pricing in a rate cut expected before the end of the year.

Now to when we will go live. We have been saying that we would wait for the announcement to come out and then make a decision. And while the system has performed remarkably well considering the violent market circumstances it has faced over the couple months, we are still wary about conditions and would prefer to stall going live with our own funds until the storm has for the most part subsided. Russia's markets nearly collapsed today, AIG is teetering on the brink of bankruptcy, crude oil continues its drastic drop - down another 4.8% today after losing about 7% yesterday, and "the Reserve Market Fund became the first money market fund in 14 years to expose investors to losses". So after what happened yesterday (now being called Black Monday) and continued into today, we would prefer to continue to "wait and see". As always, our commitment to our clients is that we won't trade your money if we aren't comfortable trading our own. And so we wait...

The best trading system in the hands of an undisciplined trader is a losing system. - Jake Bernstein