October Quote

November 9, 2018

“The market action made October a wild ride. Although most of the volatility was downside, we traded heavily, exploiting discrepancies in each big up-move. Unfortunate for October, our pre-trade alpha was wiped out because trades were followed by large down-days. Forcing us to exit positions without profits and wait for the next discrepancy to set up. The month did give us a good opportunity to see our risk management approach in action. Heads we win, tails we break-even (or lose a little). Which is key to ensuring we have the same, if not more, capital at play when the next pitch is thrown. Although October was a disappointment in terms of returns, we’re pleased with higher volatility. More volatility means higher average per-trade profits, and trades with higher average profits means higher average returns going forward.”

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