INDICES MANAGEMENT

INDICES MANAGEMENT (1998 - 2008) - INDICES FUTURES MANAGEMENT (2003 - 2008)

The capital has fairly been divided around 6 indices, also maintaining the division even if Flat positions .

For each operation (Buy or Sell) has been used the whole available capital ( resulting after each trading operation)

WITHOUT THRESHOLD PRICE STRATEGY WITH THRESHOLD PRICE STRATEGY

A 0,5% cost has been calculated for every perforation of the threshold price

Short selling:	yes	Short selling:	yes
Leverage:	no	Leverage:	no
Threshold price strategy:	no	Threshold price strategy:	yes

Average annual performance:	10,2%	Average annual performance:	16,3%
Starting capital to 1998/01/01:	100	Starting capital to 1998/01/01:	100
Final capital to 2008/10/30:	208	Final capital to 2008/10/30:	271

All signals 1998 - 2008 (file .xls)		All signals 1998 - 2008 (file .xls)

WITHOUT THRESHOLD PRICE STRATEGY WITH THRESHOLD PRICE STRATEGY

A 0,5% X5 cost has been calculated for every perforation of the threshold price A 0,5% X10 cost has been calculated for every perforation of the threshold price

LOGARITHMIC CHART LOGARITHMIC CHART

Short selling:	yes	Short selling:	yes
Leverage:	yes (1:5)	Leverage:	yes (1:10)
Threshold price strategy:	no	Threshold price strategy:	yes

Average annual performance:	72%	Average annual performance:	228%
Starting capital to 2003/01/01:	100	Starting capital to 2003/01/01:	100
Final capital to 2008/10/30:	492	Final capital to 2008/10/30:	1355 *
		* Indicative mathematical projection

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