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发表于 2013-4-15 07:01 PM
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本帖最后由 greenback 于 2013-4-15 03:09 PM 编辑
Finally, a bad day for our portfolio ... This is the price we have to pay for buy and hold in trend following. That's why we have 50% bond in it ...
Interestingly, even the most conservative PPTRX is negative! Maybe this is telling something about the market???
Also on the positioning strategy. We certainly is paying attention to the market actions and is controlling the risk in the original design of the portfolio. However, the idea is to trade on the right side of the curve. This guideline tells us to look for a lower high to confirm a top (intermediate term) in the trading positions, i.e. UJPIX, the leveraged NIKKEI fund (FUTURES: NKD), and to a lesser degree, PETDX, the Dow Jones Real Estate Real Return fund (ETF: IYR). That's why we do not sell on the first pullback to minimize trading times. Of course, the design allows us to resist the bear assault better so the drawdown is not as great as in a typical trading account. |
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