CISCO Futures
1-303-306-1521 1-800 800 7227 Fax 1-303-306-1572
http://www.cisco-futures.com
dljones@cisco-futures.com

The Advice Engine(tm) Level 2

Drawdown Research
CISCO Futures©

Drawdown
Anytime you are trading a market you would like to know how it behaves under various market conditions. How does the return vary with risk? Some variation comes from the structure, the internals of the market. This variation results from the small differences of opinion between traders and leads to value being defined as a range (value area on a day basis and value region for the longer term). So, in a stable balancing market, value is defined as a price range; as noted by one of our students, value is continuous and migratory. The migratory part is small in balances, i.e. the balance limits vary a small amount, day to day. This relative stability permits a measure of the intra-day change and an estimate of the risk due to the constant but limited market fluctuation. This risk estimate is one-eighth the balance range, or in our terminology, an 'octant'.

At CISCO we teach you about value and change of value. If you know current value, you can recognize a change. But your markets are always in some fluctuation. Our nominal risk parameter, the octant, estimates the amount of change (volatility) present (balanced markets only!). How good is our estimate of risk? If you are going to use a risk parameter in your trading, (and everyone does) wouldn't it be a good idea to have a feel for it's reliability? We think so and that is the subject of this drawdown work.

Drawdown Analysis, the Data
First, what do we mean by 'drawdown'? If you put on a trade and lose say $200, your account is poorer by that $200. Your account has 'drawn down' $200. Let's say you put on a trade and gained $200. But after the trade is finished you examine the market track and find that with a better stop you could have made $300. You can consider that extra $100 a drawdown from the optimum. The drawdown in this study is measured from the optimum, from the best return. The model we use here is for a one-day period only, varying stops as a percent of the octant, measuring gain from the price extreme, the Potential.

The data used in this work comes from the CISCO Select Table history. These are the markets chosen because they are in balance and because they have a good probablility of making a large move. Balance is defined here as a combination of a 5 day balance in conjunction with a 10 day balance. The 5 day balance requires all five days to be in balance while a 10 day balance may actually be a 6, 7, 8, 9 or 10 day balance. All our drawdown analyses use Select Table data from the Advice Engine Report. The actual number of days in a 10 day balance are listed on the Bracket Screen and can be estimated from the Visual Graphic.

Daily the Advice Engine Report lists a Select Table and the previous day's breakouts. We maintain a separate database of the Select Table breakouts. For each breakout we note the direction, price and time of the breakout, the extreme excursion of the breakout (the Potential) and it's time and finally the close. For the purpose of drawdown analysis we use all ticks available for the entire day, from midnight to midnight.

Database for the Study
The database is those trades in the Advice Engine Select Table between November 1, 2000 and the current day. These are all breakout trades that are found in the "Free Table History Data" in the 'Advice Engine' link in the 'Data' section of the CISCO homepage.

Risk
CISCO has defined the octant as the starting point for risk. This is a tidy, 'one shot fits all' approach and cannot always be right. We know this. We further know that the octant risk is usually too large. In Lesson 1 of both our courses there is an extensive problem set asking the student to first do trades with the octant stop, then the same set with one-half octant and so on.

The Drawdown study permits you to test breakouts with octant trailing stops and other levels of stops as you choose. You can set your timeframes and the size of the stop (octant, half octant, 40% of octant, etc.). Actually, you can vary the standard octant stop by +/- 90 percent. You need to keep in mind that a too small stop may cause an exit due solely to noise.

What Can You Learn
In our drawdown test methodology we vary the (octant) stop and examine the win/loss ratio, the average gain and average loss (measured from the Potential) and the reward to risk ratio (Figure of Merit). Although gains are the criteria for evaluating the desired risk, these gains are not representative of actual gains available from the trades. A simple trailing stop tends to 'leave too much money on the table', especially in highly volatile markets like those in the Select Table. Also, by using Potential instead of actual gains, rewards are overstated. The principal use of a drawdown study is to gain a better estimate of the appropriate risk. In the real world Level 2 traders have access to intra-day market information that provides up-to-date market condition. Better risk knowledge improves real world trading.

Let us be clear that drawdown studies is not a trading model. Here is why: The data base lists breakout (and time), the extreme move for the day (and its time) and the close. There is no information on the actual track of price as it moves from breakout to extreme. It might be a relatively straight line of runs and pauses or it might follow a more convoluted path. A trading model would contain instructions to act upon in the various cases. A sophisticated model would most likely not use a trailing stop most of the time. Here we set a trailing stop and simply measure when it is stopped out and catalog the profit or loss of the action.

Results
This simple search gives some surprising information. The two primary answers are the average theoretical profit (or loss) in trading fractions (not $) and the reward to risk ratio (RW/RSK, i.e. the Figure of Merit). The return, of course, is important. So too is the RW/RSK since that is a figure of merit of your methodology. For many commodities the standard Octant gives a good RW/RSK ratio. In other cases not so. In the Run 2 example in the Appendix below, the payout is much better risks of 1/2 and 3/4 octant than at 100% of the octant. This is for natural gas in February 2006. The best RW/RSK ratio came at the 50 percent level, but the best average gain per trade at 109 was at the 75 percent level; far better than the value of 74 at the 50% risk level.

Turning to Run 3, covering January through June, 2006, the average gain values are much less than for Run 2. Variation over time is the way that markets work. The drawdown can aid in identifying the variation and it's direction. This is another item supporting diversification.

Diversification
Advice Engine Report offers an efficient way to diversify ones trading. Advice Engine provides entry prices and a suggested risk. The trader decides how to apply these data, i.e. where/when to enter, entry risk and where/when to exit. Suggested risk may be used on entry only, for a trailing stop or any way the trader elects. The posted, suggested risk is calculated from general Auction Market principles. The best value may vary somewhat as market conditions (e.g. volatility) change. This drawdown is an efficient way to learn more about the market (s) you are considering for diversification, or about your old market.

The Select Table Research Data has the basic information for anlayzing and quantifying one's model. Listed are the future and date, the breakout price, posted risk, trade direction, entry price and time, the high and low or low and high in order and the last tick. Entry price is taken as the next tick after the breakout price is touched. The first entry in December is explained:

Level 2 Advice Engine traders have access to a number of intra-day reference points that can be applied to the template developed for that market (NO in this case). Market Profiles alone and with Overlay Demand Curves show congestion and the relation of the current trading with the market condition. These features lead to decision points that are unique to each particular trader. As an example, we will look at the CL study.

Study Conditions
A standard trailing stop model is employed in this study of crude oil trading. The study examines the variation of the trades' return with its risk. These are theoretical trades where entry is assumed on the next tick after breakout. The protective stop is moved when trade is positive and held constant on retracements. If the retracement (drawdown) is as large as the stop, the trade is exited. If the trade is still active at the close, exit on the close is assumed. No account is taken of slippage or commissions.

Analysis of Sample Data:
In the Appendix below there are four test runs, each with two reports. Report 1 is a condensed table of the aggregate behavior of the time frame being studied. Each line of the table lists symbol, the percentage of the octant, number of trades, number wins, number losses, average gain (basis Potential), average loss and the Figure of Merit. Report is automatically listed.

Report 2 can be listed on request. The first line (header) gives the percentage of the basic octant (75). Each subsequent line tabulates the symbol, delivery, date of trade, risk, entry price and time, exit price and time, gain and a running sum of gain. Lastly the summary line (Number Trades.....) gives the averages for that percentage of the octant.

Comments
What does this study tell us about future trading? First, applying a standard approach, Auction Market Analysis was successful in this case. We would not predict that natural gas next year will do as well as this year, or that it will do worse. Rather, the results of this study is an argument for including natural gas in one's trading portfolio. Naturally, the futures in your portfolio should be re-examined on a regular basis. How often? Quarterly is not unreasonable. More often if one of the futures starts behaving poorly. As in any work you do on markets, it is important to keep up to date on the markets you trade, i.e. with the market condition and how it is responding.

Remember, the drawdown study, while quite important in setting the risk, is only one part of the trading equation. We have assumed a simple trailing stop. Other parts of Level 2 analysis would not be satisfied with passively giving up profits while waiting for a stop to be hit. The trailing stop assumption is more for concreteness in the study than a philosophy of trading.

The benefits of diversification is one of the well known findings of Capital Market Theory. The concept is valid, we believe, in all auction type markets.

Appendix

Drawdown Examples

All Research results are in trading Fractions.

You will be asked to input:
1. Symbol   (same symbols as for Visual Graphic)
2. Delivery MMYY:  e.g. 0609, 0512,,, for all deliveries 0000
3. Octant range to search: 50 means from 50% to 150% of the Octant
4. Subdivide the search: 2 ==> 50, 75, 100, 125, 150
5. Earliest date 
6. Latest date   YYMMDD e.g. 060201 to start Feb 1, 2006
                 YYMMDD e.g. 060228 to end  Feb 28, 2006

Run 1
 Input
   NO
   0604
   50
   2
   060201
   060228

 
Output 1, Automatic:  Survey of the time period chosen.

  Period Covered: 060201 - 060228  Delivery 0604
 SYMB %Octant #-TD  #Win #Loss Av-Gain Av-Loss RW/RSK
   NO      50    3     2     1     132      35   3.77
   NO      75    3     2     1     115      52   2.21
   NO     100    3     2     1      98      69   1.42
   NO     125    3     2     1      81      86   0.94
   NO     150    3     1     2      64     103   0.62


Output 2, on request

 DELTA % Modifier  -25     % of Basic Model Octant Stop   75
  NO 0604 060223  R=  52 IN=   7190(1135) OUT=   7152 GAIN=     38 SUM=     38
  NO 0604 060224  R=  52 IN=   7150(1306) OUT=   7202 GAIN=    -52 SUM=    -14
  NO 0604 060227  R=  52 IN=   7095(  14) OUT=   6734 GAIN=    361 SUM=    347
Number Trades=   3  GAIN=    347  AVG=    115  AVG-RISK=   52  RW/RSK=    2.21
 
 DELTA % Modifier    0     % of Basic Model Octant Stop  100
  NO 0604 060223  R=  69 IN=   7190(1135) OUT=   7169 GAIN=     21 SUM=     21
  NO 0604 060224  R=  69 IN=   7150(1306) OUT=   7219 GAIN=    -69 SUM=    -48
  NO 0604 060227  R=  69 IN=   7095(  14) OUT=   6751 GAIN=    344 SUM=    296
Number Trades=   3  GAIN=    296  AVG=     98  AVG-RISK=   69  RW/RSK=    1.42
 
 DELTA % Modifier   25     % of Basic Model Octant Stop  125
  NO 0604 060223  R=  86 IN=   7190(1135) OUT=   7186 GAIN=      4 SUM=      4
  NO 0604 060224  R=  86 IN=   7150(1306) OUT=   7236 GAIN=    -86 SUM=    -82
  NO 0604 060227  R=  86 IN=   7095(  14) OUT=   6768 GAIN=    327 SUM=    245
Number Trades=   3  GAIN=    245  AVG=     81  AVG-RISK=   86  RW/RSK=    0.94
 
 DELTA % Modifier   50     % of Basic Model Octant Stop  150
  NO 0604 060223  R= 103 IN=   7190(1135) OUT=   7203 GAIN=    -13 SUM=    -13
  NO 0604 060224  R= 103 IN=   7150(1306) OUT=   7253 GAIN=   -103 SUM=   -116
  NO 0604 060227  R= 103 IN=   7095(  14) OUT=   6785 GAIN=    310 SUM=    194
Number Trades=   3  GAIN=    194  AVG=     64  AVG-RISK=  103  RW/RSK=    0.62

Run 2
 Input
   NO
   0000
   50
   2
   060201
   060228



  Period Covered: 060201 - 060228  Delivery 0000
 SYMB %Octant #-TD  #Win #Loss Av-Gain Av-Loss RW/RSK
   NO      50    9     4     5      74      33   2.24
   NO      75    9     5     4     109      49   2.22
   NO     100    9     5     4      94      65   1.45
   NO     125    9     4     5      80      81   0.99
   NO     150    9     3     6      65      97   0.67


 DELTA % Modifier  -50     % of Basic Model Octant Stop   50
  NO 0603 060223  R=  35 IN=   6980(1202) OUT=   7015 GAIN=    -35 SUM=    -35
  NO 0604 060223  R=  35 IN=   7190(1135) OUT=   7135 GAIN=     55 SUM=     20
  NO 0605 060223  R=  35 IN=   7330(1137) OUT=   7365 GAIN=    -35 SUM=    -15
  NO 0606 060223  R=  35 IN=   7470(1202) OUT=   7435 GAIN=     35 SUM=     20
  NO 0603 060224  R=  38 IN=   6900(1306) OUT=   6938 GAIN=    -38 SUM=    -18
  NO 0604 060224  R=  35 IN=   7150(1306) OUT=   7185 GAIN=    -35 SUM=    -53
  NO 0604 060227  R=  35 IN=   7095(  14) OUT=   6717 GAIN=    378 SUM=    325
  NO 0605 060227  R=  25 IN=   7279(  15) OUT=   7304 GAIN=    -25 SUM=    300
  NO 0606 060227  R=  25 IN=   7424( 257) OUT=   7051 GAIN=    373 SUM=    673
Number Trades=   9  GAIN=    673  AVG=     74  AVG-RISK=   33  RW/RSK=    2.24
 
 DELTA % Modifier  -25     % of Basic Model Octant Stop   75
  NO 0603 060223  R=  52 IN=   6980(1202) OUT=   7032 GAIN=    -52 SUM=    -52
  NO 0604 060223  R=  52 IN=   7190(1135) OUT=   7152 GAIN=     38 SUM=    -14
  NO 0605 060223  R=  52 IN=   7330(1137) OUT=   7382 GAIN=    -52 SUM=    -66
  NO 0606 060223  R=  52 IN=   7470(1202) OUT=   7452 GAIN=     18 SUM=    -48
  NO 0603 060224  R=  57 IN=   6900(1306) OUT=   6957 GAIN=    -57 SUM=   -105
  NO 0604 060224  R=  52 IN=   7150(1306) OUT=   7202 GAIN=    -52 SUM=   -157
  NO 0604 060227  R=  52 IN=   7095(  14) OUT=   6734 GAIN=    361 SUM=    204
  NO 0605 060227  R=  38 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    626
  NO 0606 060227  R=  38 IN=   7424( 257) OUT=   7064 GAIN=    360 SUM=    986
Number Trades=   9  GAIN=    986  AVG=    109  AVG-RISK=   49  RW/RSK=    2.22
 
 DELTA % Modifier    0     % of Basic Model Octant Stop  100
  NO 0603 060223  R=  69 IN=   6980(1202) OUT=   7049 GAIN=    -69 SUM=    -69
  NO 0604 060223  R=  69 IN=   7190(1135) OUT=   7169 GAIN=     21 SUM=    -48
  NO 0605 060223  R=  69 IN=   7330(1137) OUT=   7399 GAIN=    -69 SUM=   -117
  NO 0606 060223  R=  69 IN=   7470(1202) OUT=   7469 GAIN=      1 SUM=   -116
  NO 0603 060224  R=  75 IN=   6900(1306) OUT=   6975 GAIN=    -75 SUM=   -191
  NO 0604 060224  R=  69 IN=   7150(1306) OUT=   7219 GAIN=    -69 SUM=   -260
  NO 0604 060227  R=  69 IN=   7095(  14) OUT=   6751 GAIN=    344 SUM=     84
  NO 0605 060227  R=  50 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    506
  NO 0606 060227  R=  50 IN=   7424( 257) OUT=   7076 GAIN=    348 SUM=    854
Number Trades=   9  GAIN=    854  AVG=     94  AVG-RISK=   65  RW/RSK=    1.45
 
 DELTA % Modifier   25     % of Basic Model Octant Stop  125
  NO 0603 060223  R=  86 IN=   6980(1202) OUT=   7066 GAIN=    -86 SUM=    -86
  NO 0604 060223  R=  86 IN=   7190(1135) OUT=   7186 GAIN=      4 SUM=    -82
  NO 0605 060223  R=  86 IN=   7330(1137) OUT=   7416 GAIN=    -86 SUM=   -168
  NO 0606 060223  R=  86 IN=   7470(1202) OUT=   7486 GAIN=    -16 SUM=   -184
  NO 0603 060224  R=  93 IN=   6900(1306) OUT=   6993 GAIN=    -93 SUM=   -277
  NO 0604 060224  R=  86 IN=   7150(1306) OUT=   7236 GAIN=    -86 SUM=   -363
  NO 0604 060227  R=  86 IN=   7095(  14) OUT=   6768 GAIN=    327 SUM=    -36
  NO 0605 060227  R=  62 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    386
  NO 0606 060227  R=  62 IN=   7424( 257) OUT=   7088 GAIN=    336 SUM=    722
Number Trades=   9  GAIN=    722  AVG=     80  AVG-RISK=   81  RW/RSK=    0.99
 
 DELTA % Modifier   50     % of Basic Model Octant Stop  150
  NO 0603 060223  R= 103 IN=   6980(1202) OUT=   7083 GAIN=   -103 SUM=   -103
  NO 0604 060223  R= 103 IN=   7190(1135) OUT=   7203 GAIN=    -13 SUM=   -116
  NO 0605 060223  R= 103 IN=   7330(1137) OUT=   7433 GAIN=   -103 SUM=   -219
  NO 0606 060223  R= 103 IN=   7470(1202) OUT=   7503 GAIN=    -33 SUM=   -252
  NO 0603 060224  R= 112 IN=   6900(1306) OUT=   7012 GAIN=   -112 SUM=   -364
  NO 0604 060224  R= 103 IN=   7150(1306) OUT=   7253 GAIN=   -103 SUM=   -467
  NO 0604 060227  R= 103 IN=   7095(  14) OUT=   6785 GAIN=    310 SUM=   -157
  NO 0605 060227  R=  75 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    265
  NO 0606 060227  R=  75 IN=   7424( 257) OUT=   7101 GAIN=    323 SUM=    588


Run 3
 Input
   NO
   0000
   50
   2
   060101
   060630

  Period Covered: 060101 - 060630  Delivery 0000
 SYMB %Octant #-TD  #Win #Loss Av-Gain Av-Loss RW/RSK
   NO      50   62    29    33      38      31   1.23
   NO      75   62    28    34      38      46   0.83
   NO     100   62    24    38      27      62   0.44
   NO     125   62    23    39      16      77   0.21
   NO     150   62    22    40      10      92   0.11


 DELTA % Modifier  -50     % of Basic Model Octant Stop   50
  NO 0604 060104  R=  32 IN=   9960( 557) OUT=   9708 GAIN=    252 SUM=    252
  NO 0604 060126  R=  50 IN=   8553( 348) OUT=   8603 GAIN=    -50 SUM=    202
  NO 0605 060130  R=  63 IN=   9530(1324) OUT=   9504 GAIN=    -26 SUM=    176
  NO 0603 060223  R=  35 IN=   6980(1202) OUT=   7015 GAIN=    -35 SUM=    141
  NO 0604 060223  R=  35 IN=   7190(1135) OUT=   7135 GAIN=     55 SUM=    196
  NO 0605 060223  R=  35 IN=   7330(1137) OUT=   7365 GAIN=    -35 SUM=    161
  NO 0606 060223  R=  35 IN=   7470(1202) OUT=   7435 GAIN=     35 SUM=    196
  NO 0603 060224  R=  38 IN=   6900(1306) OUT=   6938 GAIN=    -38 SUM=    158
  NO 0604 060224  R=  35 IN=   7150(1306) OUT=   7185 GAIN=    -35 SUM=    123
  NO 0604 060227  R=  35 IN=   7095(  14) OUT=   6717 GAIN=    378 SUM=    501
  NO 0605 060227  R=  25 IN=   7279(  15) OUT=   7304 GAIN=    -25 SUM=    476
  NO 0606 060227  R=  25 IN=   7424( 257) OUT=   7051 GAIN=    373 SUM=    849
  NO 0607 060307  R=  16 IN=   7133( 159) OUT=   7149 GAIN=    -16 SUM=    833
  NO 0608 060307  R=  16 IN=   7290( 159) OUT=   7306 GAIN=    -16 SUM=    817
  NO 0607 060308  R=  19 IN=   7100(1007) OUT=   7099 GAIN=      1 SUM=    818
  NO 0608 060308  R=  14 IN=   7250(1049) OUT=   7264 GAIN=    -14 SUM=    804
  NO 0609 060309  R=  14 IN=   7300( 948) OUT=   7314 GAIN=    -14 SUM=    790
  NO 0608 060310  R=  16 IN=   7200( 924) OUT=   7216 GAIN=    -16 SUM=    774
  NO 0604 060313  R=  29 IN=   6940( 900) OUT=   6911 GAIN=    -29 SUM=    745
  NO 0605 060313  R=  27 IN=   7120( 902) OUT=   7093 GAIN=    -27 SUM=    718
  NO 0606 060313  R=  22 IN=   7227( 821) OUT=   7428 GAIN=    201 SUM=    919
  NO 0604 060323  R=  45 IN=   7330(1317) OUT=   7355 GAIN=     25 SUM=    944
  NO 0605 060323  R=  44 IN=   7510(1320) OUT=   7497 GAIN=    -13 SUM=    931
  NO 0604 060329  R=  37 IN=   7390(1300) OUT=   7353 GAIN=    -37 SUM=    894
  NO 0605 060330  R=  39 IN=   7544( 430) OUT=   7505 GAIN=    -39 SUM=    855
  NO 0610 060330  R=  25 IN=   8283( 413) OUT=   8258 GAIN=    -25 SUM=    830
  NO 0605 060403  R=  39 IN=   7570(1027) OUT=   7531 GAIN=    -39 SUM=    791
  NO 0610 060403  R=  19 IN=   8270( 908) OUT=   8251 GAIN=    -19 SUM=    772
  NO 0609 060404  R=  19 IN=   7800( 952) OUT=   7819 GAIN=    -19 SUM=    753
  NO 0610 060404  R=  19 IN=   7950(1036) OUT=   7940 GAIN=     10 SUM=    763
  NO 0605 060407  R=  43 IN=   6860(  43) OUT=   6693 GAIN=    167 SUM=    930
  NO 0605 060413  R=  34 IN=   6716( 741) OUT=   6750 GAIN=    -34 SUM=    896
  NO 0605 060413  R=  34 IN=   6716( 741) OUT=   6750 GAIN=    -34 SUM=    862
  NO 0605 060417  R=  34 IN=   7260( 757) OUT=   7226 GAIN=    -34 SUM=    828
  NO 0607 060505  R=  25 IN=   7301( 609) OUT=   7345 GAIN=     44 SUM=    872
  NO 0606 060509  R=  32 IN=   6595( 600) OUT=   6572 GAIN=     23 SUM=    895
  NO 0607 060509  R=  32 IN=   6760(1318) OUT=   6792 GAIN=    -32 SUM=    863
  NO 0612 060509  R=  16 IN=  10590(1349) OUT=  10516 GAIN=     74 SUM=    937
  NO 0606 060510  R=  35 IN=   6549( 744) OUT=   6575 GAIN=    -26 SUM=    911
  NO 0609 060510  R=  29 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    975
  NO 0610 060510  R=  41 IN=   8310(1317) OUT=   8329 GAIN=     19 SUM=    994
  NO 0611 060510  R=  13 IN=   9550(1348) OUT=   9581 GAIN=     31 SUM=   1025
  NO 0606 060512  R=  29 IN=   6545( 430) OUT=   6254 GAIN=    291 SUM=   1316
  NO 0606 060522  R=  29 IN=   6360(1107) OUT=   6349 GAIN=    -11 SUM=   1305
  NO 0607 060522  R=  29 IN=   6610(1242) OUT=   6604 GAIN=     -6 SUM=   1299
  NO 0606 060523  R=  29 IN=   6353(  24) OUT=   6411 GAIN=     58 SUM=   1357
  NO 0607 060523  R=  29 IN=   6628(  13) OUT=   6668 GAIN=     40 SUM=   1397
  NO 0608 060523  R=  29 IN=   6952( 841) OUT=   6923 GAIN=    -29 SUM=   1368
  NO 0607 060524  R=  32 IN=   6140(1328) OUT=   6137 GAIN=      3 SUM=   1371
  NO 0607 060525  R=  33 IN=   6130( 637) OUT=   6123 GAIN=      7 SUM=   1378
  NO 0606 060526  R=  34 IN=   5850( 908) OUT=   5744 GAIN=    106 SUM=   1484
  NO 0607 060526  R=  35 IN=   6098( 844) OUT=   6065 GAIN=     33 SUM=   1517
  NO 0606 060526  R=  34 IN=   5850( 908) OUT=   5744 GAIN=    106 SUM=   1623
  NO 0607 060526  R=  35 IN=   6098( 844) OUT=   6065 GAIN=     33 SUM=   1656
  NO 0607 060601  R=  35 IN=   6630( 956) OUT=   6705 GAIN=     75 SUM=   1731
  NO 0607 060602  R=  39 IN=   6690(1351) OUT=   6681 GAIN=     -9 SUM=   1722
  NO 0607 060605  R=  39 IN=   6755(  40) OUT=   6781 GAIN=     26 SUM=   1748
  NO 0608 060605  R=  38 IN=   7010( 132) OUT=   6972 GAIN=    -38 SUM=   1710
  NO 0608 060607  R=  38 IN=   6300( 937) OUT=   6338 GAIN=    -38 SUM=   1672
  NO 0608 060614  R=  42 IN=   6930(1300) OUT=   6908 GAIN=    -22 SUM=   1650
  NO 0609 060614  R=  19 IN=   7010( 917) OUT=   7193 GAIN=    183 SUM=   1833
  NO 0607 060615  R=  46 IN=   6700( 917) OUT=   7242 GAIN=    542 SUM=   2375
Number Trades=  62  GAIN=   2375  AVG=     38  AVG-RISK=   31  RW/RSK=    1.23
 
 DELTA % Modifier  -25     % of Basic Model Octant Stop   75
  NO 0604 060104  R=  48 IN=   9960( 557) OUT=   9724 GAIN=    236 SUM=    236
  NO 0604 060126  R=  75 IN=   8553( 348) OUT=   8628 GAIN=    -75 SUM=    161
  NO 0605 060130  R=  94 IN=   9530(1324) OUT=   9516 GAIN=    -14 SUM=    147
  NO 0603 060223  R=  52 IN=   6980(1202) OUT=   7032 GAIN=    -52 SUM=     95
  NO 0604 060223  R=  52 IN=   7190(1135) OUT=   7152 GAIN=     38 SUM=    133
  NO 0605 060223  R=  52 IN=   7330(1137) OUT=   7382 GAIN=    -52 SUM=     81
  NO 0606 060223  R=  52 IN=   7470(1202) OUT=   7452 GAIN=     18 SUM=     99
  NO 0603 060224  R=  57 IN=   6900(1306) OUT=   6957 GAIN=    -57 SUM=     42
  NO 0604 060224  R=  52 IN=   7150(1306) OUT=   7202 GAIN=    -52 SUM=    -10
  NO 0604 060227  R=  52 IN=   7095(  14) OUT=   6734 GAIN=    361 SUM=    351
  NO 0605 060227  R=  38 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    773
  NO 0606 060227  R=  38 IN=   7424( 257) OUT=   7064 GAIN=    360 SUM=   1133
  NO 0607 060307  R=  24 IN=   7133( 159) OUT=   7157 GAIN=    -24 SUM=   1109
  NO 0608 060307  R=  24 IN=   7290( 159) OUT=   7314 GAIN=    -24 SUM=   1085
  NO 0607 060308  R=  29 IN=   7100(1007) OUT=   7109 GAIN=     -9 SUM=   1076
  NO 0608 060308  R=  21 IN=   7250(1049) OUT=   7271 GAIN=    -21 SUM=   1055
  NO 0609 060309  R=  21 IN=   7300( 948) OUT=   7321 GAIN=    -21 SUM=   1034
  NO 0608 060310  R=  24 IN=   7200( 924) OUT=   7224 GAIN=    -24 SUM=   1010
  NO 0604 060313  R=  44 IN=   6940( 900) OUT=   6896 GAIN=    -44 SUM=    966
  NO 0605 060313  R=  40 IN=   7120( 902) OUT=   7080 GAIN=    -40 SUM=    926
  NO 0606 060313  R=  33 IN=   7227( 821) OUT=   7417 GAIN=    190 SUM=   1116
  NO 0604 060323  R=  68 IN=   7330(1317) OUT=   7332 GAIN=      2 SUM=   1118
  NO 0605 060323  R=  66 IN=   7510(1320) OUT=   7475 GAIN=    -35 SUM=   1083
  NO 0604 060329  R=  56 IN=   7390(1300) OUT=   7334 GAIN=    -56 SUM=   1027
  NO 0605 060330  R=  58 IN=   7544( 430) OUT=   7486 GAIN=    -58 SUM=    969
  NO 0610 060330  R=  38 IN=   8283( 413) OUT=   8245 GAIN=    -38 SUM=    931
  NO 0605 060403  R=  59 IN=   7570(1027) OUT=   7511 GAIN=    -59 SUM=    872
  NO 0610 060403  R=  29 IN=   8270( 908) OUT=   8241 GAIN=    -29 SUM=    843
  NO 0609 060404  R=  28 IN=   7800( 952) OUT=   7828 GAIN=    -28 SUM=    815
  NO 0610 060404  R=  29 IN=   7950(1036) OUT=   7950 GAIN=      0 SUM=    815
  NO 0605 060407  R=  64 IN=   6860(  43) OUT=   6714 GAIN=    146 SUM=    961
  NO 0605 060413  R=  51 IN=   6716( 741) OUT=   6767 GAIN=    -51 SUM=    910
  NO 0605 060413  R=  51 IN=   6716( 741) OUT=   6767 GAIN=    -51 SUM=    859
  NO 0605 060417  R=  51 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=   1194
  NO 0607 060505  R=  38 IN=   7301( 609) OUT=   7332 GAIN=     31 SUM=   1225
  NO 0606 060509  R=  48 IN=   6595( 600) OUT=   6588 GAIN=      7 SUM=   1232
  NO 0607 060509  R=  48 IN=   6760(1318) OUT=   6808 GAIN=    -48 SUM=   1184
  NO 0612 060509  R=  24 IN=  10590(1349) OUT=  10524 GAIN=     66 SUM=   1250
  NO 0606 060510  R=  52 IN=   6549( 744) OUT=   6592 GAIN=    -43 SUM=   1207
  NO 0609 060510  R=  43 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=   1271
  NO 0610 060510  R=  62 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=   1276
  NO 0611 060510  R=  19 IN=   9550(1348) OUT=   9575 GAIN=     25 SUM=   1301
  NO 0606 060512  R=  43 IN=   6545( 430) OUT=   6268 GAIN=    277 SUM=   1578
  NO 0606 060522  R=  43 IN=   6360(1107) OUT=   6335 GAIN=    -25 SUM=   1553
  NO 0607 060522  R=  43 IN=   6610(1242) OUT=   6590 GAIN=    -20 SUM=   1533
  NO 0606 060523  R=  43 IN=   6353(  24) OUT=   6397 GAIN=     44 SUM=   1577
  NO 0607 060523  R=  43 IN=   6628(  13) OUT=   6654 GAIN=     26 SUM=   1603
  NO 0608 060523  R=  43 IN=   6952( 841) OUT=   6909 GAIN=    -43 SUM=   1560
  NO 0607 060524  R=  48 IN=   6140(1328) OUT=   6153 GAIN=    -13 SUM=   1547
  NO 0607 060525  R=  49 IN=   6130( 637) OUT=   6139 GAIN=     -9 SUM=   1538
  NO 0606 060526  R=  51 IN=   5850( 908) OUT=   5761 GAIN=     89 SUM=   1627
  NO 0607 060526  R=  53 IN=   6098( 844) OUT=   6083 GAIN=     15 SUM=   1642
  NO 0606 060526  R=  51 IN=   5850( 908) OUT=   5761 GAIN=     89 SUM=   1731
  NO 0607 060526  R=  53 IN=   6098( 844) OUT=   6083 GAIN=     15 SUM=   1746
  NO 0607 060601  R=  53 IN=   6630( 956) OUT=   6687 GAIN=     57 SUM=   1803
  NO 0607 060602  R=  59 IN=   6690(1351) OUT=   6661 GAIN=    -29 SUM=   1774
  NO 0607 060605  R=  59 IN=   6755(  40) OUT=   6761 GAIN=      6 SUM=   1780
  NO 0608 060605  R=  57 IN=   7010( 132) OUT=   6953 GAIN=    -57 SUM=   1723
  NO 0608 060607  R=  57 IN=   6300( 937) OUT=   6257 GAIN=     43 SUM=   1766
  NO 0608 060614  R=  63 IN=   6930(1300) OUT=   6887 GAIN=    -43 SUM=   1723
  NO 0609 060614  R=  29 IN=   7010( 917) OUT=   7183 GAIN=    173 SUM=   1896
  NO 0607 060615  R=  69 IN=   6700( 917) OUT=   7219 GAIN=    519 SUM=   2415
Number Trades=  62  GAIN=   2415  AVG=     38  AVG-RISK=   46  RW/RSK=    0.83
 
 DELTA % Modifier    0     % of Basic Model Octant Stop  100
  NO 0604 060104  R=  63 IN=   9960( 557) OUT=   9739 GAIN=    221 SUM=    221
  NO 0604 060126  R= 100 IN=   8553( 348) OUT=   8653 GAIN=   -100 SUM=    121
  NO 0605 060130  R= 125 IN=   9530(1324) OUT=   9516 GAIN=    -14 SUM=    107
  NO 0603 060223  R=  69 IN=   6980(1202) OUT=   7049 GAIN=    -69 SUM=     38
  NO 0604 060223  R=  69 IN=   7190(1135) OUT=   7169 GAIN=     21 SUM=     59
  NO 0605 060223  R=  69 IN=   7330(1137) OUT=   7399 GAIN=    -69 SUM=    -10
  NO 0606 060223  R=  69 IN=   7470(1202) OUT=   7469 GAIN=      1 SUM=     -9
  NO 0603 060224  R=  75 IN=   6900(1306) OUT=   6975 GAIN=    -75 SUM=    -84
  NO 0604 060224  R=  69 IN=   7150(1306) OUT=   7219 GAIN=    -69 SUM=   -153
  NO 0604 060227  R=  69 IN=   7095(  14) OUT=   6751 GAIN=    344 SUM=    191
  NO 0605 060227  R=  50 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    613
  NO 0606 060227  R=  50 IN=   7424( 257) OUT=   7076 GAIN=    348 SUM=    961
  NO 0607 060307  R=  32 IN=   7133( 159) OUT=   7165 GAIN=    -32 SUM=    929
  NO 0608 060307  R=  32 IN=   7290( 159) OUT=   7322 GAIN=    -32 SUM=    897
  NO 0607 060308  R=  38 IN=   7100(1007) OUT=   7118 GAIN=    -18 SUM=    879
  NO 0608 060308  R=  28 IN=   7250(1049) OUT=   7278 GAIN=    -28 SUM=    851
  NO 0609 060309  R=  28 IN=   7300( 948) OUT=   7328 GAIN=    -28 SUM=    823
  NO 0608 060310  R=  32 IN=   7200( 924) OUT=   7232 GAIN=    -32 SUM=    791
  NO 0604 060313  R=  58 IN=   6940( 900) OUT=   6882 GAIN=    -58 SUM=    733
  NO 0605 060313  R=  53 IN=   7120( 902) OUT=   7067 GAIN=    -53 SUM=    680
  NO 0606 060313  R=  43 IN=   7227( 821) OUT=   7407 GAIN=    180 SUM=    860
  NO 0604 060323  R=  90 IN=   7330(1317) OUT=   7310 GAIN=    -20 SUM=    840
  NO 0605 060323  R=  87 IN=   7510(1320) OUT=   7454 GAIN=    -56 SUM=    784
  NO 0604 060329  R=  74 IN=   7390(1300) OUT=   7316 GAIN=    -74 SUM=    710
  NO 0605 060330  R=  77 IN=   7544( 430) OUT=   7467 GAIN=    -77 SUM=    633
  NO 0610 060330  R=  50 IN=   8283( 413) OUT=   8233 GAIN=    -50 SUM=    583
  NO 0605 060403  R=  78 IN=   7570(1027) OUT=   7492 GAIN=    -78 SUM=    505
  NO 0610 060403  R=  38 IN=   8270( 908) OUT=   8232 GAIN=    -38 SUM=    467
  NO 0609 060404  R=  37 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=    537
  NO 0610 060404  R=  38 IN=   7950(1036) OUT=   7959 GAIN=     -9 SUM=    528
  NO 0605 060407  R=  85 IN=   6860(  43) OUT=   6735 GAIN=    125 SUM=    653
  NO 0605 060413  R=  67 IN=   6716( 741) OUT=   6783 GAIN=    -67 SUM=    586
  NO 0605 060413  R=  67 IN=   6716( 741) OUT=   6783 GAIN=    -67 SUM=    519
  NO 0605 060417  R=  67 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    854
  NO 0607 060505  R=  50 IN=   7301( 609) OUT=   7320 GAIN=     19 SUM=    873
  NO 0606 060509  R=  63 IN=   6595( 600) OUT=   6603 GAIN=     -8 SUM=    865
  NO 0607 060509  R=  63 IN=   6760(1318) OUT=   6823 GAIN=    -63 SUM=    802
  NO 0612 060509  R=  32 IN=  10590(1349) OUT=  10532 GAIN=     58 SUM=    860
  NO 0606 060510  R=  69 IN=   6549( 744) OUT=   6609 GAIN=    -60 SUM=    800
  NO 0609 060510  R=  57 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    864
  NO 0610 060510  R=  82 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    869
  NO 0611 060510  R=  25 IN=   9550(1348) OUT=   9569 GAIN=     19 SUM=    888
  NO 0606 060512  R=  57 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=   1153
  NO 0606 060522  R=  57 IN=   6360(1107) OUT=   6321 GAIN=    -39 SUM=   1114
  NO 0607 060522  R=  57 IN=   6610(1242) OUT=   6576 GAIN=    -34 SUM=   1080
  NO 0606 060523  R=  57 IN=   6353(  24) OUT=   6383 GAIN=     30 SUM=   1110
  NO 0607 060523  R=  57 IN=   6628(  13) OUT=   6640 GAIN=     12 SUM=   1122
  NO 0608 060523  R=  57 IN=   6952( 841) OUT=   6895 GAIN=    -57 SUM=   1065
  NO 0607 060524  R=  63 IN=   6140(1328) OUT=   6168 GAIN=    -28 SUM=   1037
  NO 0607 060525  R=  65 IN=   6130( 637) OUT=   6155 GAIN=    -25 SUM=   1012
  NO 0606 060526  R=  67 IN=   5850( 908) OUT=   5777 GAIN=     73 SUM=   1085
  NO 0607 060526  R=  70 IN=   6098( 844) OUT=   6100 GAIN=     -2 SUM=   1083
  NO 0606 060526  R=  67 IN=   5850( 908) OUT=   5777 GAIN=     73 SUM=   1156
  NO 0607 060526  R=  70 IN=   6098( 844) OUT=   6100 GAIN=     -2 SUM=   1154
  NO 0607 060601  R=  70 IN=   6630( 956) OUT=   6670 GAIN=     40 SUM=   1194
  NO 0607 060602  R=  78 IN=   6690(1351) OUT=   6642 GAIN=    -48 SUM=   1146
  NO 0607 060605  R=  78 IN=   6755(  40) OUT=   6742 GAIN=    -13 SUM=   1133
  NO 0608 060605  R=  75 IN=   7010( 132) OUT=   6935 GAIN=    -75 SUM=   1058
  NO 0608 060607  R=  75 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=   1098
  NO 0608 060614  R=  84 IN=   6930(1300) OUT=   6866 GAIN=    -64 SUM=   1034
  NO 0609 060614  R=  38 IN=   7010( 917) OUT=   7174 GAIN=    164 SUM=   1198
  NO 0607 060615  R=  92 IN=   6700( 917) OUT=   7196 GAIN=    496 SUM=   1694
Number Trades=  62  GAIN=   1694  AVG=     27  AVG-RISK=   62  RW/RSK=    0.44
 
 DELTA % Modifier   25     % of Basic Model Octant Stop  125
  NO 0604 060104  R=  78 IN=   9960( 557) OUT=   9754 GAIN=    206 SUM=    206
  NO 0604 060126  R= 125 IN=   8553( 348) OUT=   8678 GAIN=   -125 SUM=     81
  NO 0605 060130  R= 156 IN=   9530(1324) OUT=   9516 GAIN=    -14 SUM=     67
  NO 0603 060223  R=  86 IN=   6980(1202) OUT=   7066 GAIN=    -86 SUM=    -19
  NO 0604 060223  R=  86 IN=   7190(1135) OUT=   7186 GAIN=      4 SUM=    -15
  NO 0605 060223  R=  86 IN=   7330(1137) OUT=   7416 GAIN=    -86 SUM=   -101
  NO 0606 060223  R=  86 IN=   7470(1202) OUT=   7486 GAIN=    -16 SUM=   -117
  NO 0603 060224  R=  93 IN=   6900(1306) OUT=   6993 GAIN=    -93 SUM=   -210
  NO 0604 060224  R=  86 IN=   7150(1306) OUT=   7236 GAIN=    -86 SUM=   -296
  NO 0604 060227  R=  86 IN=   7095(  14) OUT=   6768 GAIN=    327 SUM=     31
  NO 0605 060227  R=  62 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    453
  NO 0606 060227  R=  62 IN=   7424( 257) OUT=   7088 GAIN=    336 SUM=    789
  NO 0607 060307  R=  40 IN=   7133( 159) OUT=   7173 GAIN=    -40 SUM=    749
  NO 0608 060307  R=  40 IN=   7290( 159) OUT=   7330 GAIN=    -40 SUM=    709
  NO 0607 060308  R=  47 IN=   7100(1007) OUT=   7127 GAIN=    -27 SUM=    682
  NO 0608 060308  R=  35 IN=   7250(1049) OUT=   7285 GAIN=    -35 SUM=    647
  NO 0609 060309  R=  35 IN=   7300( 948) OUT=   7335 GAIN=    -35 SUM=    612
  NO 0608 060310  R=  40 IN=   7200( 924) OUT=   7240 GAIN=    -40 SUM=    572
  NO 0604 060313  R=  72 IN=   6940( 900) OUT=   6868 GAIN=    -72 SUM=    500
  NO 0605 060313  R=  66 IN=   7120( 902) OUT=   7054 GAIN=    -66 SUM=    434
  NO 0606 060313  R=  53 IN=   7227( 821) OUT=   7397 GAIN=    170 SUM=    604
  NO 0604 060323  R= 112 IN=   7330(1317) OUT=   7360 GAIN=     30 SUM=    634
  NO 0605 060323  R= 108 IN=   7510(1320) OUT=   7433 GAIN=    -77 SUM=    557
  NO 0604 060329  R=  92 IN=   7390(1300) OUT=   7298 GAIN=    -92 SUM=    465
  NO 0605 060330  R=  96 IN=   7544( 430) OUT=   7448 GAIN=    -96 SUM=    369
  NO 0610 060330  R=  62 IN=   8283( 413) OUT=   8221 GAIN=    -62 SUM=    307
  NO 0605 060403  R=  97 IN=   7570(1027) OUT=   7473 GAIN=    -97 SUM=    210
  NO 0610 060403  R=  47 IN=   8270( 908) OUT=   8223 GAIN=    -47 SUM=    163
  NO 0609 060404  R=  46 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=    233
  NO 0610 060404  R=  47 IN=   7950(1036) OUT=   7968 GAIN=    -18 SUM=    215
  NO 0605 060407  R= 106 IN=   6860(  43) OUT=   6756 GAIN=    104 SUM=    319
  NO 0605 060413  R=  83 IN=   6716( 741) OUT=   6799 GAIN=    -83 SUM=    236
  NO 0605 060413  R=  83 IN=   6716( 741) OUT=   6799 GAIN=    -83 SUM=    153
  NO 0605 060417  R=  83 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    488
  NO 0607 060505  R=  62 IN=   7301( 609) OUT=   7308 GAIN=      7 SUM=    495
  NO 0606 060509  R=  78 IN=   6595( 600) OUT=   6618 GAIN=    -23 SUM=    472
  NO 0607 060509  R=  78 IN=   6760(1318) OUT=   6838 GAIN=    -78 SUM=    394
  NO 0612 060509  R=  40 IN=  10590(1349) OUT=  10540 GAIN=     50 SUM=    444
  NO 0606 060510  R=  86 IN=   6549( 744) OUT=   6626 GAIN=    -77 SUM=    367
  NO 0609 060510  R=  71 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    431
  NO 0610 060510  R= 102 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    436
  NO 0611 060510  R=  31 IN=   9550(1348) OUT=   9563 GAIN=     13 SUM=    449
  NO 0606 060512  R=  71 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=    714
  NO 0606 060522  R=  71 IN=   6360(1107) OUT=   6307 GAIN=    -53 SUM=    661
  NO 0607 060522  R=  71 IN=   6610(1242) OUT=   6562 GAIN=    -48 SUM=    613
  NO 0606 060523  R=  71 IN=   6353(  24) OUT=   6369 GAIN=     16 SUM=    629
  NO 0607 060523  R=  71 IN=   6628(  13) OUT=   6626 GAIN=     -2 SUM=    627
  NO 0608 060523  R=  71 IN=   6952( 841) OUT=   6881 GAIN=    -71 SUM=    556
  NO 0607 060524  R=  78 IN=   6140(1328) OUT=   6183 GAIN=    -43 SUM=    513
  NO 0607 060525  R=  81 IN=   6130( 637) OUT=   6171 GAIN=    -41 SUM=    472
  NO 0606 060526  R=  83 IN=   5850( 908) OUT=   5793 GAIN=     57 SUM=    529
  NO 0607 060526  R=  87 IN=   6098( 844) OUT=   6117 GAIN=    -19 SUM=    510
  NO 0606 060526  R=  83 IN=   5850( 908) OUT=   5793 GAIN=     57 SUM=    567
  NO 0607 060526  R=  87 IN=   6098( 844) OUT=   6117 GAIN=    -19 SUM=    548
  NO 0607 060601  R=  87 IN=   6630( 956) OUT=   6653 GAIN=     23 SUM=    571
  NO 0607 060602  R=  97 IN=   6690(1351) OUT=   6623 GAIN=    -67 SUM=    504
  NO 0607 060605  R=  97 IN=   6755(  40) OUT=   6723 GAIN=    -32 SUM=    472
  NO 0608 060605  R=  93 IN=   7010( 132) OUT=   6917 GAIN=    -93 SUM=    379
  NO 0608 060607  R=  93 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=    419
  NO 0608 060614  R= 105 IN=   6930(1300) OUT=   6890 GAIN=    -40 SUM=    379
  NO 0609 060614  R=  47 IN=   7010( 917) OUT=   7165 GAIN=    155 SUM=    534
  NO 0607 060615  R= 115 IN=   6700( 917) OUT=   7173 GAIN=    473 SUM=   1007
Number Trades=  62  GAIN=   1007  AVG=     16  AVG-RISK=   77  RW/RSK=    0.21
 
 DELTA % Modifier   50     % of Basic Model Octant Stop  150
  NO 0604 060104  R=  94 IN=   9960( 557) OUT=   9770 GAIN=    190 SUM=    190
  NO 0604 060126  R= 150 IN=   8553( 348) OUT=   8350 GAIN=    203 SUM=    393
  NO 0605 060130  R= 187 IN=   9530(1324) OUT=   9516 GAIN=    -14 SUM=    379
  NO 0603 060223  R= 103 IN=   6980(1202) OUT=   7083 GAIN=   -103 SUM=    276
  NO 0604 060223  R= 103 IN=   7190(1135) OUT=   7203 GAIN=    -13 SUM=    263
  NO 0605 060223  R= 103 IN=   7330(1137) OUT=   7433 GAIN=   -103 SUM=    160
  NO 0606 060223  R= 103 IN=   7470(1202) OUT=   7503 GAIN=    -33 SUM=    127
  NO 0603 060224  R= 112 IN=   6900(1306) OUT=   7012 GAIN=   -112 SUM=     15
  NO 0604 060224  R= 103 IN=   7150(1306) OUT=   7253 GAIN=   -103 SUM=    -88
  NO 0604 060227  R= 103 IN=   7095(  14) OUT=   6785 GAIN=    310 SUM=    222
  NO 0605 060227  R=  75 IN=   7279(  15) OUT=   6857 GAIN=    422 SUM=    644
  NO 0606 060227  R=  75 IN=   7424( 257) OUT=   7101 GAIN=    323 SUM=    967
  NO 0607 060307  R=  48 IN=   7133( 159) OUT=   7181 GAIN=    -48 SUM=    919
  NO 0608 060307  R=  48 IN=   7290( 159) OUT=   7338 GAIN=    -48 SUM=    871
  NO 0607 060308  R=  57 IN=   7100(1007) OUT=   7137 GAIN=    -37 SUM=    834
  NO 0608 060308  R=  42 IN=   7250(1049) OUT=   7292 GAIN=    -42 SUM=    792
  NO 0609 060309  R=  42 IN=   7300( 948) OUT=   7342 GAIN=    -42 SUM=    750
  NO 0608 060310  R=  48 IN=   7200( 924) OUT=   7248 GAIN=    -48 SUM=    702
  NO 0604 060313  R=  87 IN=   6940( 900) OUT=   6853 GAIN=    -87 SUM=    615
  NO 0605 060313  R=  79 IN=   7120( 902) OUT=   7041 GAIN=    -79 SUM=    536
  NO 0606 060313  R=  64 IN=   7227( 821) OUT=   7386 GAIN=    159 SUM=    695
  NO 0604 060323  R= 135 IN=   7330(1317) OUT=   7360 GAIN=     30 SUM=    725
  NO 0605 060323  R= 130 IN=   7510(1320) OUT=   7488 GAIN=    -22 SUM=    703
  NO 0604 060329  R= 111 IN=   7390(1300) OUT=   7279 GAIN=   -111 SUM=    592
  NO 0605 060330  R= 115 IN=   7544( 430) OUT=   7429 GAIN=   -115 SUM=    477
  NO 0610 060330  R=  75 IN=   8283( 413) OUT=   8208 GAIN=    -75 SUM=    402
  NO 0605 060403  R= 117 IN=   7570(1027) OUT=   7453 GAIN=   -117 SUM=    285
  NO 0610 060403  R=  57 IN=   8270( 908) OUT=   8213 GAIN=    -57 SUM=    228
  NO 0609 060404  R=  55 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=    298
  NO 0610 060404  R=  57 IN=   7950(1036) OUT=   7978 GAIN=    -28 SUM=    270
  NO 0605 060407  R= 127 IN=   6860(  43) OUT=   6777 GAIN=     83 SUM=    353
  NO 0605 060413  R= 100 IN=   6716( 741) OUT=   6816 GAIN=   -100 SUM=    253
  NO 0605 060413  R= 100 IN=   6716( 741) OUT=   6816 GAIN=   -100 SUM=    153
  NO 0605 060417  R= 100 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    488
  NO 0607 060505  R=  75 IN=   7301( 609) OUT=   7295 GAIN=     -6 SUM=    482
  NO 0606 060509  R=  94 IN=   6595( 600) OUT=   6634 GAIN=    -39 SUM=    443
  NO 0607 060509  R=  94 IN=   6760(1318) OUT=   6854 GAIN=    -94 SUM=    349
  NO 0612 060509  R=  48 IN=  10590(1349) OUT=  10548 GAIN=     42 SUM=    391
  NO 0606 060510  R= 103 IN=   6549( 744) OUT=   6643 GAIN=    -94 SUM=    297
  NO 0609 060510  R=  85 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    361
  NO 0610 060510  R= 123 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    366
  NO 0611 060510  R=  37 IN=   9550(1348) OUT=   9557 GAIN=      7 SUM=    373
  NO 0606 060512  R=  85 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=    638
  NO 0606 060522  R=  85 IN=   6360(1107) OUT=   6293 GAIN=    -67 SUM=    571
  NO 0607 060522  R=  85 IN=   6610(1242) OUT=   6548 GAIN=    -62 SUM=    509
  NO 0606 060523  R=  85 IN=   6353(  24) OUT=   6355 GAIN=      2 SUM=    511
  NO 0607 060523  R=  85 IN=   6628(  13) OUT=   6612 GAIN=    -16 SUM=    495
  NO 0608 060523  R=  85 IN=   6952( 841) OUT=   6867 GAIN=    -85 SUM=    410
  NO 0607 060524  R=  94 IN=   6140(1328) OUT=   6199 GAIN=    -59 SUM=    351
  NO 0607 060525  R=  97 IN=   6130( 637) OUT=   6187 GAIN=    -57 SUM=    294
  NO 0606 060526  R= 100 IN=   5850( 908) OUT=   5810 GAIN=     40 SUM=    334
  NO 0607 060526  R= 105 IN=   6098( 844) OUT=   6135 GAIN=    -37 SUM=    297
  NO 0606 060526  R= 100 IN=   5850( 908) OUT=   5810 GAIN=     40 SUM=    337
  NO 0607 060526  R= 105 IN=   6098( 844) OUT=   6135 GAIN=    -37 SUM=    300
  NO 0607 060601  R= 105 IN=   6630( 956) OUT=   6635 GAIN=      5 SUM=    305
  NO 0607 060602  R= 117 IN=   6690(1351) OUT=   6623 GAIN=    -67 SUM=    238
  NO 0607 060605  R= 117 IN=   6755(  40) OUT=   6703 GAIN=    -52 SUM=    186
  NO 0608 060605  R= 112 IN=   7010( 132) OUT=   6898 GAIN=   -112 SUM=     74
  NO 0608 060607  R= 112 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=    114
  NO 0608 060614  R= 126 IN=   6930(1300) OUT=   6890 GAIN=    -40 SUM=     74
  NO 0609 060614  R=  57 IN=   7010( 917) OUT=   7155 GAIN=    145 SUM=    219
  NO 0607 060615  R= 138 IN=   6700( 917) OUT=   7150 GAIN=    450 SUM=    669

 

Run 4
 Input
   NO
   0000
   50
   2
   060401
   060930

  Period Covered: 060401 - 060930  Delivery 0000
 SYMB %Octant #-TD  #Win #Loss Av-Gain Av-Loss RW/RSK
   NO      50   63    34    29      43      37   1.16
   NO      75   63    31    32      33      56   0.59
   NO     100   63    30    33      26      75   0.35
   NO     125   63    27    36      11      93   0.12
   NO     150   63    24    39       0     112   0.00


 DELTA % Modifier  -50     % of Basic Model Octant Stop   50
  NO 0605 060403  R=  39 IN=   7570(1027) OUT=   7531 GAIN=    -39 SUM=    -39
  NO 0610 060403  R=  19 IN=   8270( 908) OUT=   8251 GAIN=    -19 SUM=    -58
  NO 0609 060404  R=  19 IN=   7800( 952) OUT=   7819 GAIN=    -19 SUM=    -77
  NO 0610 060404  R=  19 IN=   7950(1036) OUT=   7940 GAIN=     10 SUM=    -67
  NO 0605 060407  R=  43 IN=   6860(  43) OUT=   6693 GAIN=    167 SUM=    100
  NO 0605 060413  R=  34 IN=   6716( 741) OUT=   6750 GAIN=    -34 SUM=     66
  NO 0605 060413  R=  34 IN=   6716( 741) OUT=   6750 GAIN=    -34 SUM=     32
  NO 0605 060417  R=  34 IN=   7260( 757) OUT=   7226 GAIN=    -34 SUM=     -2
  NO 0607 060505  R=  25 IN=   7301( 609) OUT=   7345 GAIN=     44 SUM=     42
  NO 0606 060509  R=  32 IN=   6595( 600) OUT=   6572 GAIN=     23 SUM=     65
  NO 0607 060509  R=  32 IN=   6760(1318) OUT=   6792 GAIN=    -32 SUM=     33
  NO 0612 060509  R=  16 IN=  10590(1349) OUT=  10516 GAIN=     74 SUM=    107
  NO 0606 060510  R=  35 IN=   6549( 744) OUT=   6575 GAIN=    -26 SUM=     81
  NO 0609 060510  R=  29 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    145
  NO 0610 060510  R=  41 IN=   8310(1317) OUT=   8329 GAIN=     19 SUM=    164
  NO 0611 060510  R=  13 IN=   9550(1348) OUT=   9581 GAIN=     31 SUM=    195
  NO 0606 060512  R=  29 IN=   6545( 430) OUT=   6254 GAIN=    291 SUM=    486
  NO 0606 060522  R=  29 IN=   6360(1107) OUT=   6349 GAIN=    -11 SUM=    475
  NO 0607 060522  R=  29 IN=   6610(1242) OUT=   6604 GAIN=     -6 SUM=    469
  NO 0606 060523  R=  29 IN=   6353(  24) OUT=   6411 GAIN=     58 SUM=    527
  NO 0607 060523  R=  29 IN=   6628(  13) OUT=   6668 GAIN=     40 SUM=    567
  NO 0608 060523  R=  29 IN=   6952( 841) OUT=   6923 GAIN=    -29 SUM=    538
  NO 0607 060524  R=  32 IN=   6140(1328) OUT=   6137 GAIN=      3 SUM=    541
  NO 0607 060525  R=  33 IN=   6130( 637) OUT=   6123 GAIN=      7 SUM=    548
  NO 0606 060526  R=  34 IN=   5850( 908) OUT=   5744 GAIN=    106 SUM=    654
  NO 0607 060526  R=  35 IN=   6098( 844) OUT=   6065 GAIN=     33 SUM=    687
  NO 0606 060526  R=  34 IN=   5850( 908) OUT=   5744 GAIN=    106 SUM=    793
  NO 0607 060526  R=  35 IN=   6098( 844) OUT=   6065 GAIN=     33 SUM=    826
  NO 0607 060601  R=  35 IN=   6630( 956) OUT=   6705 GAIN=     75 SUM=    901
  NO 0607 060602  R=  39 IN=   6690(1351) OUT=   6681 GAIN=     -9 SUM=    892
  NO 0607 060605  R=  39 IN=   6755(  40) OUT=   6781 GAIN=     26 SUM=    918
  NO 0608 060605  R=  38 IN=   7010( 132) OUT=   6972 GAIN=    -38 SUM=    880
  NO 0608 060607  R=  38 IN=   6300( 937) OUT=   6338 GAIN=    -38 SUM=    842
  NO 0608 060614  R=  42 IN=   6930(1300) OUT=   6908 GAIN=    -22 SUM=    820
  NO 0609 060614  R=  19 IN=   7010( 917) OUT=   7193 GAIN=    183 SUM=   1003
  NO 0607 060615  R=  46 IN=   6700( 917) OUT=   7242 GAIN=    542 SUM=   1545
  NO 0609 060703  R=  19 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1531
  NO 0609 060703  R=  19 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1517
  NO 0612 060713  R=  23 IN=   9540(1151) OUT=   9717 GAIN=    177 SUM=   1694
  NO 0608 060724  R=  52 IN=   6395( 810) OUT=   6643 GAIN=    248 SUM=   1942
  NO 0701 060821  R=  19 IN=  10850(1241) OUT=  10869 GAIN=    -19 SUM=   1923
  NO 0609 060821  R=  82 IN=   6550(1230) OUT=   6542 GAIN=      8 SUM=   1931
  NO 0610 060824  R=  32 IN=   7250( 901) OUT=   7298 GAIN=     48 SUM=   1979
  NO 0701 060825  R=  20 IN=  11500( 908) OUT=  11500 GAIN=      0 SUM=   1979
  NO 0609 060825  R=  32 IN=   7400( 900) OUT=   7498 GAIN=     98 SUM=   2077
  NO 0610 060825  R=  50 IN=   7580( 901) OUT=   7660 GAIN=     80 SUM=   2157
  NO 0609 060828  R=  50 IN=   6450( 900) OUT=   6500 GAIN=    -50 SUM=   2107
  NO 0610 060828  R=  63 IN=   6650( 901) OUT=   6713 GAIN=    -63 SUM=   2044
  NO 0610 060829  R=  63 IN=   6510( 901) OUT=   6523 GAIN=    -13 SUM=   2031
  NO 0701 060907  R=  14 IN=  10523( 139) OUT=  10164 GAIN=    359 SUM=   2390
  NO 0612 060907  R=  15 IN=   9837( 659) OUT=   9515 GAIN=    322 SUM=   2712
  NO 0610 060908  R=  32 IN=   5690(  31) OUT=   5722 GAIN=    -32 SUM=   2680
  NO 0610 060912  R=  38 IN=   5575(1201) OUT=   5543 GAIN=     32 SUM=   2712
  NO 0610 060918  R=  82 IN=   4890( 236) OUT=   4936 GAIN=    -46 SUM=   2666
  NO 0610 060920  R=  75 IN=   4880(  50) OUT=   4850 GAIN=     30 SUM=   2696
  NO 0610 060921  R=  75 IN=   4779(  11) OUT=   4854 GAIN=    -75 SUM=   2621
  NO 0610 060922  R=  88 IN=   4689( 746) OUT=   4777 GAIN=    -88 SUM=   2533
  NO 0704 060925  R=  32 IN=   7020(  21) OUT=   7052 GAIN=    -32 SUM=   2501
  NO 0611 060925  R=  38 IN=   5715(  17) OUT=   5588 GAIN=    127 SUM=   2628
  NO 0611 060927  R=  47 IN=   5670(   9) OUT=   5717 GAIN=    -47 SUM=   2581
  NO 0701 060928  R=  63 IN=   7595( 847) OUT=   7513 GAIN=     82 SUM=   2663
  NO 0611 060928  R=  60 IN=   5496( 907) OUT=   5365 GAIN=    131 SUM=   2794
  NO 0701 060929  R=  69 IN=   7488( 513) OUT=   7513 GAIN=    -25 SUM=   2769
Number Trades=  63  GAIN=   2769  AVG=     43  AVG-RISK=   37  RW/RSK=    1.16
 
 DELTA % Modifier  -25     % of Basic Model Octant Stop   75
  NO 0605 060403  R=  59 IN=   7570(1027) OUT=   7511 GAIN=    -59 SUM=    -59
  NO 0610 060403  R=  29 IN=   8270( 908) OUT=   8241 GAIN=    -29 SUM=    -88
  NO 0609 060404  R=  28 IN=   7800( 952) OUT=   7828 GAIN=    -28 SUM=   -116
  NO 0610 060404  R=  29 IN=   7950(1036) OUT=   7950 GAIN=      0 SUM=   -116
  NO 0605 060407  R=  64 IN=   6860(  43) OUT=   6714 GAIN=    146 SUM=     30
  NO 0605 060413  R=  51 IN=   6716( 741) OUT=   6767 GAIN=    -51 SUM=    -21
  NO 0605 060413  R=  51 IN=   6716( 741) OUT=   6767 GAIN=    -51 SUM=    -72
  NO 0605 060417  R=  51 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    263
  NO 0607 060505  R=  38 IN=   7301( 609) OUT=   7332 GAIN=     31 SUM=    294
  NO 0606 060509  R=  48 IN=   6595( 600) OUT=   6588 GAIN=      7 SUM=    301
  NO 0607 060509  R=  48 IN=   6760(1318) OUT=   6808 GAIN=    -48 SUM=    253
  NO 0612 060509  R=  24 IN=  10590(1349) OUT=  10524 GAIN=     66 SUM=    319
  NO 0606 060510  R=  52 IN=   6549( 744) OUT=   6592 GAIN=    -43 SUM=    276
  NO 0609 060510  R=  43 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    340
  NO 0610 060510  R=  62 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    345
  NO 0611 060510  R=  19 IN=   9550(1348) OUT=   9575 GAIN=     25 SUM=    370
  NO 0606 060512  R=  43 IN=   6545( 430) OUT=   6268 GAIN=    277 SUM=    647
  NO 0606 060522  R=  43 IN=   6360(1107) OUT=   6335 GAIN=    -25 SUM=    622
  NO 0607 060522  R=  43 IN=   6610(1242) OUT=   6590 GAIN=    -20 SUM=    602
  NO 0606 060523  R=  43 IN=   6353(  24) OUT=   6397 GAIN=     44 SUM=    646
  NO 0607 060523  R=  43 IN=   6628(  13) OUT=   6654 GAIN=     26 SUM=    672
  NO 0608 060523  R=  43 IN=   6952( 841) OUT=   6909 GAIN=    -43 SUM=    629
  NO 0607 060524  R=  48 IN=   6140(1328) OUT=   6153 GAIN=    -13 SUM=    616
  NO 0607 060525  R=  49 IN=   6130( 637) OUT=   6139 GAIN=     -9 SUM=    607
  NO 0606 060526  R=  51 IN=   5850( 908) OUT=   5761 GAIN=     89 SUM=    696
  NO 0607 060526  R=  53 IN=   6098( 844) OUT=   6083 GAIN=     15 SUM=    711
  NO 0606 060526  R=  51 IN=   5850( 908) OUT=   5761 GAIN=     89 SUM=    800
  NO 0607 060526  R=  53 IN=   6098( 844) OUT=   6083 GAIN=     15 SUM=    815
  NO 0607 060601  R=  53 IN=   6630( 956) OUT=   6687 GAIN=     57 SUM=    872
  NO 0607 060602  R=  59 IN=   6690(1351) OUT=   6661 GAIN=    -29 SUM=    843
  NO 0607 060605  R=  59 IN=   6755(  40) OUT=   6761 GAIN=      6 SUM=    849
  NO 0608 060605  R=  57 IN=   7010( 132) OUT=   6953 GAIN=    -57 SUM=    792
  NO 0608 060607  R=  57 IN=   6300( 937) OUT=   6257 GAIN=     43 SUM=    835
  NO 0608 060614  R=  63 IN=   6930(1300) OUT=   6887 GAIN=    -43 SUM=    792
  NO 0609 060614  R=  29 IN=   7010( 917) OUT=   7183 GAIN=    173 SUM=    965
  NO 0607 060615  R=  69 IN=   6700( 917) OUT=   7219 GAIN=    519 SUM=   1484
  NO 0609 060703  R=  29 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1470
  NO 0609 060703  R=  29 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1456
  NO 0612 060713  R=  34 IN=   9540(1151) OUT=   9706 GAIN=    166 SUM=   1622
  NO 0608 060724  R=  78 IN=   6395( 810) OUT=   6617 GAIN=    222 SUM=   1844
  NO 0701 060821  R=  29 IN=  10850(1241) OUT=  10879 GAIN=    -29 SUM=   1815
  NO 0609 060821  R= 123 IN=   6550(1230) OUT=   6583 GAIN=    -33 SUM=   1782
  NO 0610 060824  R=  48 IN=   7250( 901) OUT=   7282 GAIN=     32 SUM=   1814
  NO 0701 060825  R=  30 IN=  11500( 908) OUT=  11490 GAIN=    -10 SUM=   1804
  NO 0609 060825  R=  48 IN=   7400( 900) OUT=   7482 GAIN=     82 SUM=   1886
  NO 0610 060825  R=  75 IN=   7580( 901) OUT=   7635 GAIN=     55 SUM=   1941
  NO 0609 060828  R=  75 IN=   6450( 900) OUT=   6525 GAIN=    -75 SUM=   1866
  NO 0610 060828  R=  94 IN=   6650( 901) OUT=   6744 GAIN=    -94 SUM=   1772
  NO 0610 060829  R=  94 IN=   6510( 901) OUT=   6554 GAIN=    -44 SUM=   1728
  NO 0701 060907  R=  21 IN=  10523( 139) OUT=  10171 GAIN=    352 SUM=   2080
  NO 0612 060907  R=  23 IN=   9837( 659) OUT=   9523 GAIN=    314 SUM=   2394
  NO 0610 060908  R=  48 IN=   5690(  31) OUT=   5738 GAIN=    -48 SUM=   2346
  NO 0610 060912  R=  57 IN=   5575(1201) OUT=   5562 GAIN=     13 SUM=   2359
  NO 0610 060918  R= 123 IN=   4890( 236) OUT=   4977 GAIN=    -87 SUM=   2272
  NO 0610 060920  R= 113 IN=   4880(  50) OUT=   4888 GAIN=     -8 SUM=   2264
  NO 0610 060921  R= 113 IN=   4779(  11) OUT=   4892 GAIN=   -113 SUM=   2151
  NO 0610 060922  R= 132 IN=   4689( 746) OUT=   4821 GAIN=   -132 SUM=   2019
  NO 0704 060925  R=  48 IN=   7020(  21) OUT=   7068 GAIN=    -48 SUM=   1971
  NO 0611 060925  R=  57 IN=   5715(  17) OUT=   5607 GAIN=    108 SUM=   2079
  NO 0611 060927  R=  71 IN=   5670(   9) OUT=   5741 GAIN=    -71 SUM=   2008
  NO 0701 060928  R=  94 IN=   7595( 847) OUT=   7544 GAIN=     51 SUM=   2059
  NO 0611 060928  R=  90 IN=   5496( 907) OUT=   5395 GAIN=    101 SUM=   2160
  NO 0701 060929  R= 104 IN=   7488( 513) OUT=   7548 GAIN=    -60 SUM=   2100
Number Trades=  63  GAIN=   2100  AVG=     33  AVG-RISK=   56  RW/RSK=    0.59
 
 DELTA % Modifier    0     % of Basic Model Octant Stop  100
  NO 0605 060403  R=  78 IN=   7570(1027) OUT=   7492 GAIN=    -78 SUM=    -78
  NO 0610 060403  R=  38 IN=   8270( 908) OUT=   8232 GAIN=    -38 SUM=   -116
  NO 0609 060404  R=  37 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=    -46
  NO 0610 060404  R=  38 IN=   7950(1036) OUT=   7959 GAIN=     -9 SUM=    -55
  NO 0605 060407  R=  85 IN=   6860(  43) OUT=   6735 GAIN=    125 SUM=     70
  NO 0605 060413  R=  67 IN=   6716( 741) OUT=   6783 GAIN=    -67 SUM=      3
  NO 0605 060413  R=  67 IN=   6716( 741) OUT=   6783 GAIN=    -67 SUM=    -64
  NO 0605 060417  R=  67 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    271
  NO 0607 060505  R=  50 IN=   7301( 609) OUT=   7320 GAIN=     19 SUM=    290
  NO 0606 060509  R=  63 IN=   6595( 600) OUT=   6603 GAIN=     -8 SUM=    282
  NO 0607 060509  R=  63 IN=   6760(1318) OUT=   6823 GAIN=    -63 SUM=    219
  NO 0612 060509  R=  32 IN=  10590(1349) OUT=  10532 GAIN=     58 SUM=    277
  NO 0606 060510  R=  69 IN=   6549( 744) OUT=   6609 GAIN=    -60 SUM=    217
  NO 0609 060510  R=  57 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    281
  NO 0610 060510  R=  82 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    286
  NO 0611 060510  R=  25 IN=   9550(1348) OUT=   9569 GAIN=     19 SUM=    305
  NO 0606 060512  R=  57 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=    570
  NO 0606 060522  R=  57 IN=   6360(1107) OUT=   6321 GAIN=    -39 SUM=    531
  NO 0607 060522  R=  57 IN=   6610(1242) OUT=   6576 GAIN=    -34 SUM=    497
  NO 0606 060523  R=  57 IN=   6353(  24) OUT=   6383 GAIN=     30 SUM=    527
  NO 0607 060523  R=  57 IN=   6628(  13) OUT=   6640 GAIN=     12 SUM=    539
  NO 0608 060523  R=  57 IN=   6952( 841) OUT=   6895 GAIN=    -57 SUM=    482
  NO 0607 060524  R=  63 IN=   6140(1328) OUT=   6168 GAIN=    -28 SUM=    454
  NO 0607 060525  R=  65 IN=   6130( 637) OUT=   6155 GAIN=    -25 SUM=    429
  NO 0606 060526  R=  67 IN=   5850( 908) OUT=   5777 GAIN=     73 SUM=    502
  NO 0607 060526  R=  70 IN=   6098( 844) OUT=   6100 GAIN=     -2 SUM=    500
  NO 0606 060526  R=  67 IN=   5850( 908) OUT=   5777 GAIN=     73 SUM=    573
  NO 0607 060526  R=  70 IN=   6098( 844) OUT=   6100 GAIN=     -2 SUM=    571
  NO 0607 060601  R=  70 IN=   6630( 956) OUT=   6670 GAIN=     40 SUM=    611
  NO 0607 060602  R=  78 IN=   6690(1351) OUT=   6642 GAIN=    -48 SUM=    563
  NO 0607 060605  R=  78 IN=   6755(  40) OUT=   6742 GAIN=    -13 SUM=    550
  NO 0608 060605  R=  75 IN=   7010( 132) OUT=   6935 GAIN=    -75 SUM=    475
  NO 0608 060607  R=  75 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=    515
  NO 0608 060614  R=  84 IN=   6930(1300) OUT=   6866 GAIN=    -64 SUM=    451
  NO 0609 060614  R=  38 IN=   7010( 917) OUT=   7174 GAIN=    164 SUM=    615
  NO 0607 060615  R=  92 IN=   6700( 917) OUT=   7196 GAIN=    496 SUM=   1111
  NO 0609 060703  R=  38 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1097
  NO 0609 060703  R=  38 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=   1083
  NO 0612 060713  R=  45 IN=   9540(1151) OUT=   9695 GAIN=    155 SUM=   1238
  NO 0608 060724  R= 103 IN=   6395( 810) OUT=   6592 GAIN=    197 SUM=   1435
  NO 0701 060821  R=  38 IN=  10850(1241) OUT=  10888 GAIN=    -38 SUM=   1397
  NO 0609 060821  R= 163 IN=   6550(1230) OUT=   6623 GAIN=    -73 SUM=   1324
  NO 0610 060824  R=  63 IN=   7250( 901) OUT=   7267 GAIN=     17 SUM=   1341
  NO 0701 060825  R=  40 IN=  11500( 908) OUT=  11480 GAIN=    -20 SUM=   1321
  NO 0609 060825  R=  63 IN=   7400( 900) OUT=   7467 GAIN=     67 SUM=   1388
  NO 0610 060825  R= 100 IN=   7580( 901) OUT=   7610 GAIN=     30 SUM=   1418
  NO 0609 060828  R= 100 IN=   6450( 900) OUT=   6420 GAIN=     30 SUM=   1448
  NO 0610 060828  R= 125 IN=   6650( 901) OUT=   6775 GAIN=   -125 SUM=   1323
  NO 0610 060829  R= 125 IN=   6510( 901) OUT=   6585 GAIN=    -75 SUM=   1248
  NO 0701 060907  R=  28 IN=  10523( 139) OUT=  10178 GAIN=    345 SUM=   1593
  NO 0612 060907  R=  30 IN=   9837( 659) OUT=   9530 GAIN=    307 SUM=   1900
  NO 0610 060908  R=  63 IN=   5690(  31) OUT=   5753 GAIN=    -63 SUM=   1837
  NO 0610 060912  R=  75 IN=   5575(1201) OUT=   5580 GAIN=     -5 SUM=   1832
  NO 0610 060918  R= 163 IN=   4890( 236) OUT=   5017 GAIN=   -127 SUM=   1705
  NO 0610 060920  R= 150 IN=   4880(  50) OUT=   4925 GAIN=    -45 SUM=   1660
  NO 0610 060921  R= 150 IN=   4779(  11) OUT=   4743 GAIN=     36 SUM=   1696
  NO 0610 060922  R= 175 IN=   4689( 746) OUT=   4627 GAIN=     62 SUM=   1758
  NO 0704 060925  R=  63 IN=   7020(  21) OUT=   7083 GAIN=    -63 SUM=   1695
  NO 0611 060925  R=  75 IN=   5715(  17) OUT=   5625 GAIN=     90 SUM=   1785
  NO 0611 060927  R=  94 IN=   5670(   9) OUT=   5764 GAIN=    -94 SUM=   1691
  NO 0701 060928  R= 125 IN=   7595( 847) OUT=   7575 GAIN=     20 SUM=   1711
  NO 0611 060928  R= 119 IN=   5496( 907) OUT=   5424 GAIN=     72 SUM=   1783
  NO 0701 060929  R= 138 IN=   7488( 513) OUT=   7582 GAIN=    -94 SUM=   1689
Number Trades=  63  GAIN=   1689  AVG=     26  AVG-RISK=   75  RW/RSK=    0.35
 
 DELTA % Modifier   25     % of Basic Model Octant Stop  125
  NO 0605 060403  R=  97 IN=   7570(1027) OUT=   7473 GAIN=    -97 SUM=    -97
  NO 0610 060403  R=  47 IN=   8270( 908) OUT=   8223 GAIN=    -47 SUM=   -144
  NO 0609 060404  R=  46 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=    -74
  NO 0610 060404  R=  47 IN=   7950(1036) OUT=   7968 GAIN=    -18 SUM=    -92
  NO 0605 060407  R= 106 IN=   6860(  43) OUT=   6756 GAIN=    104 SUM=     12
  NO 0605 060413  R=  83 IN=   6716( 741) OUT=   6799 GAIN=    -83 SUM=    -71
  NO 0605 060413  R=  83 IN=   6716( 741) OUT=   6799 GAIN=    -83 SUM=   -154
  NO 0605 060417  R=  83 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=    181
  NO 0607 060505  R=  62 IN=   7301( 609) OUT=   7308 GAIN=      7 SUM=    188
  NO 0606 060509  R=  78 IN=   6595( 600) OUT=   6618 GAIN=    -23 SUM=    165
  NO 0607 060509  R=  78 IN=   6760(1318) OUT=   6838 GAIN=    -78 SUM=     87
  NO 0612 060509  R=  40 IN=  10590(1349) OUT=  10540 GAIN=     50 SUM=    137
  NO 0606 060510  R=  86 IN=   6549( 744) OUT=   6626 GAIN=    -77 SUM=     60
  NO 0609 060510  R=  71 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    124
  NO 0610 060510  R= 102 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    129
  NO 0611 060510  R=  31 IN=   9550(1348) OUT=   9563 GAIN=     13 SUM=    142
  NO 0606 060512  R=  71 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=    407
  NO 0606 060522  R=  71 IN=   6360(1107) OUT=   6307 GAIN=    -53 SUM=    354
  NO 0607 060522  R=  71 IN=   6610(1242) OUT=   6562 GAIN=    -48 SUM=    306
  NO 0606 060523  R=  71 IN=   6353(  24) OUT=   6369 GAIN=     16 SUM=    322
  NO 0607 060523  R=  71 IN=   6628(  13) OUT=   6626 GAIN=     -2 SUM=    320
  NO 0608 060523  R=  71 IN=   6952( 841) OUT=   6881 GAIN=    -71 SUM=    249
  NO 0607 060524  R=  78 IN=   6140(1328) OUT=   6183 GAIN=    -43 SUM=    206
  NO 0607 060525  R=  81 IN=   6130( 637) OUT=   6171 GAIN=    -41 SUM=    165
  NO 0606 060526  R=  83 IN=   5850( 908) OUT=   5793 GAIN=     57 SUM=    222
  NO 0607 060526  R=  87 IN=   6098( 844) OUT=   6117 GAIN=    -19 SUM=    203
  NO 0606 060526  R=  83 IN=   5850( 908) OUT=   5793 GAIN=     57 SUM=    260
  NO 0607 060526  R=  87 IN=   6098( 844) OUT=   6117 GAIN=    -19 SUM=    241
  NO 0607 060601  R=  87 IN=   6630( 956) OUT=   6653 GAIN=     23 SUM=    264
  NO 0607 060602  R=  97 IN=   6690(1351) OUT=   6623 GAIN=    -67 SUM=    197
  NO 0607 060605  R=  97 IN=   6755(  40) OUT=   6723 GAIN=    -32 SUM=    165
  NO 0608 060605  R=  93 IN=   7010( 132) OUT=   6917 GAIN=    -93 SUM=     72
  NO 0608 060607  R=  93 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=    112
  NO 0608 060614  R= 105 IN=   6930(1300) OUT=   6890 GAIN=    -40 SUM=     72
  NO 0609 060614  R=  47 IN=   7010( 917) OUT=   7165 GAIN=    155 SUM=    227
  NO 0607 060615  R= 115 IN=   6700( 917) OUT=   7173 GAIN=    473 SUM=    700
  NO 0609 060703  R=  47 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=    686
  NO 0609 060703  R=  47 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=    672
  NO 0612 060713  R=  56 IN=   9540(1151) OUT=   9684 GAIN=    144 SUM=    816
  NO 0608 060724  R= 128 IN=   6395( 810) OUT=   6567 GAIN=    172 SUM=    988
  NO 0701 060821  R=  47 IN=  10850(1241) OUT=  10897 GAIN=    -47 SUM=    941
  NO 0609 060821  R= 203 IN=   6550(1230) OUT=   6663 GAIN=   -113 SUM=    828
  NO 0610 060824  R=  78 IN=   7250( 901) OUT=   7252 GAIN=      2 SUM=    830
  NO 0701 060825  R=  50 IN=  11500( 908) OUT=  11470 GAIN=    -30 SUM=    800
  NO 0609 060825  R=  78 IN=   7400( 900) OUT=   7452 GAIN=     52 SUM=    852
  NO 0610 060825  R= 125 IN=   7580( 901) OUT=   7585 GAIN=      5 SUM=    857
  NO 0609 060828  R= 125 IN=   6450( 900) OUT=   6445 GAIN=      5 SUM=    862
  NO 0610 060828  R= 156 IN=   6650( 901) OUT=   6806 GAIN=   -156 SUM=    706
  NO 0610 060829  R= 156 IN=   6510( 901) OUT=   6616 GAIN=   -106 SUM=    600
  NO 0701 060907  R=  35 IN=  10523( 139) OUT=  10185 GAIN=    338 SUM=    938
  NO 0612 060907  R=  37 IN=   9837( 659) OUT=   9537 GAIN=    300 SUM=   1238
  NO 0610 060908  R=  78 IN=   5690(  31) OUT=   5768 GAIN=    -78 SUM=   1160
  NO 0610 060912  R=  93 IN=   5575(1201) OUT=   5598 GAIN=    -23 SUM=   1137
  NO 0610 060918  R= 203 IN=   4890( 236) OUT=   5057 GAIN=   -167 SUM=    970
  NO 0610 060920  R= 187 IN=   4880(  50) OUT=   4962 GAIN=    -82 SUM=    888
  NO 0610 060921  R= 187 IN=   4779(  11) OUT=   4780 GAIN=     -1 SUM=    887
  NO 0610 060922  R= 218 IN=   4689( 746) OUT=   4627 GAIN=     62 SUM=    949
  NO 0704 060925  R=  78 IN=   7020(  21) OUT=   7098 GAIN=    -78 SUM=    871
  NO 0611 060925  R=  93 IN=   5715(  17) OUT=   5643 GAIN=     72 SUM=    943
  NO 0611 060927  R= 117 IN=   5670(   9) OUT=   5787 GAIN=   -117 SUM=    826
  NO 0701 060928  R= 156 IN=   7595( 847) OUT=   7606 GAIN=    -11 SUM=    815
  NO 0611 060928  R= 148 IN=   5496( 907) OUT=   5453 GAIN=     43 SUM=    858
  NO 0701 060929  R= 172 IN=   7488( 513) OUT=   7616 GAIN=   -128 SUM=    730
Number Trades=  63  GAIN=    730  AVG=     11  AVG-RISK=   93  RW/RSK=    0.12
 
 DELTA % Modifier   50     % of Basic Model Octant Stop  150
  NO 0605 060403  R= 117 IN=   7570(1027) OUT=   7453 GAIN=   -117 SUM=   -117
  NO 0610 060403  R=  57 IN=   8270( 908) OUT=   8213 GAIN=    -57 SUM=   -174
  NO 0609 060404  R=  55 IN=   7800( 952) OUT=   7730 GAIN=     70 SUM=   -104
  NO 0610 060404  R=  57 IN=   7950(1036) OUT=   7978 GAIN=    -28 SUM=   -132
  NO 0605 060407  R= 127 IN=   6860(  43) OUT=   6777 GAIN=     83 SUM=    -49
  NO 0605 060413  R= 100 IN=   6716( 741) OUT=   6816 GAIN=   -100 SUM=   -149
  NO 0605 060413  R= 100 IN=   6716( 741) OUT=   6816 GAIN=   -100 SUM=   -249
  NO 0605 060417  R= 100 IN=   7260( 757) OUT=   7595 GAIN=    335 SUM=     86
  NO 0607 060505  R=  75 IN=   7301( 609) OUT=   7295 GAIN=     -6 SUM=     80
  NO 0606 060509  R=  94 IN=   6595( 600) OUT=   6634 GAIN=    -39 SUM=     41
  NO 0607 060509  R=  94 IN=   6760(1318) OUT=   6854 GAIN=    -94 SUM=    -53
  NO 0612 060509  R=  48 IN=  10590(1349) OUT=  10548 GAIN=     42 SUM=    -11
  NO 0606 060510  R= 103 IN=   6549( 744) OUT=   6643 GAIN=    -94 SUM=   -105
  NO 0609 060510  R=  85 IN=   7770(1319) OUT=   7834 GAIN=     64 SUM=    -41
  NO 0610 060510  R= 123 IN=   8310(1317) OUT=   8315 GAIN=      5 SUM=    -36
  NO 0611 060510  R=  37 IN=   9550(1348) OUT=   9557 GAIN=      7 SUM=    -29
  NO 0606 060512  R=  85 IN=   6545( 430) OUT=   6280 GAIN=    265 SUM=    236
  NO 0606 060522  R=  85 IN=   6360(1107) OUT=   6293 GAIN=    -67 SUM=    169
  NO 0607 060522  R=  85 IN=   6610(1242) OUT=   6548 GAIN=    -62 SUM=    107
  NO 0606 060523  R=  85 IN=   6353(  24) OUT=   6355 GAIN=      2 SUM=    109
  NO 0607 060523  R=  85 IN=   6628(  13) OUT=   6612 GAIN=    -16 SUM=     93
  NO 0608 060523  R=  85 IN=   6952( 841) OUT=   6867 GAIN=    -85 SUM=      8
  NO 0607 060524  R=  94 IN=   6140(1328) OUT=   6199 GAIN=    -59 SUM=    -51
  NO 0607 060525  R=  97 IN=   6130( 637) OUT=   6187 GAIN=    -57 SUM=   -108
  NO 0606 060526  R= 100 IN=   5850( 908) OUT=   5810 GAIN=     40 SUM=    -68
  NO 0607 060526  R= 105 IN=   6098( 844) OUT=   6135 GAIN=    -37 SUM=   -105
  NO 0606 060526  R= 100 IN=   5850( 908) OUT=   5810 GAIN=     40 SUM=    -65
  NO 0607 060526  R= 105 IN=   6098( 844) OUT=   6135 GAIN=    -37 SUM=   -102
  NO 0607 060601  R= 105 IN=   6630( 956) OUT=   6635 GAIN=      5 SUM=    -97
  NO 0607 060602  R= 117 IN=   6690(1351) OUT=   6623 GAIN=    -67 SUM=   -164
  NO 0607 060605  R= 117 IN=   6755(  40) OUT=   6703 GAIN=    -52 SUM=   -216
  NO 0608 060605  R= 112 IN=   7010( 132) OUT=   6898 GAIN=   -112 SUM=   -328
  NO 0608 060607  R= 112 IN=   6300( 937) OUT=   6260 GAIN=     40 SUM=   -288
  NO 0608 060614  R= 126 IN=   6930(1300) OUT=   6890 GAIN=    -40 SUM=   -328
  NO 0609 060614  R=  57 IN=   7010( 917) OUT=   7155 GAIN=    145 SUM=   -183
  NO 0607 060615  R= 138 IN=   6700( 917) OUT=   7150 GAIN=    450 SUM=    267
  NO 0609 060703  R=  57 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=    253
  NO 0609 060703  R=  57 IN=   6355( 101) OUT=   6369 GAIN=    -14 SUM=    239
  NO 0612 060713  R=  67 IN=   9540(1151) OUT=   9673 GAIN=    133 SUM=    372
  NO 0608 060724  R= 154 IN=   6395( 810) OUT=   6541 GAIN=    146 SUM=    518
  NO 0701 060821  R=  57 IN=  10850(1241) OUT=  10907 GAIN=    -57 SUM=    461
  NO 0609 060821  R= 244 IN=   6550(1230) OUT=   6624 GAIN=    -74 SUM=    387
  NO 0610 060824  R=  94 IN=   7250( 901) OUT=   7236 GAIN=    -14 SUM=    373
  NO 0701 060825  R=  60 IN=  11500( 908) OUT=  11460 GAIN=    -40 SUM=    333
  NO 0609 060825  R=  94 IN=   7400( 900) OUT=   7436 GAIN=     36 SUM=    369
  NO 0610 060825  R= 150 IN=   7580( 901) OUT=   7560 GAIN=    -20 SUM=    349
  NO 0609 060828  R= 150 IN=   6450( 900) OUT=   6470 GAIN=    -20 SUM=    329
  NO 0610 060828  R= 187 IN=   6650( 901) OUT=   6837 GAIN=   -187 SUM=    142
  NO 0610 060829  R= 187 IN=   6510( 901) OUT=   6647 GAIN=   -137 SUM=      5
  NO 0701 060907  R=  42 IN=  10523( 139) OUT=  10192 GAIN=    331 SUM=    336
  NO 0612 060907  R=  45 IN=   9837( 659) OUT=   9545 GAIN=    292 SUM=    628
  NO 0610 060908  R=  94 IN=   5690(  31) OUT=   5675 GAIN=     15 SUM=    643
  NO 0610 060912  R= 112 IN=   5575(1201) OUT=   5617 GAIN=    -42 SUM=    601
  NO 0610 060918  R= 244 IN=   4890( 236) OUT=   5098 GAIN=   -208 SUM=    393
  NO 0610 060920  R= 225 IN=   4880(  50) OUT=   5000 GAIN=   -120 SUM=    273
  NO 0610 060921  R= 225 IN=   4779(  11) OUT=   4818 GAIN=    -39 SUM=    234
  NO 0610 060922  R= 262 IN=   4689( 746) OUT=   4627 GAIN=     62 SUM=    296
  NO 0704 060925  R=  94 IN=   7020(  21) OUT=   7048 GAIN=    -28 SUM=    268
  NO 0611 060925  R= 112 IN=   5715(  17) OUT=   5662 GAIN=     53 SUM=    321
  NO 0611 060927  R= 141 IN=   5670(   9) OUT=   5811 GAIN=   -141 SUM=    180
  NO 0701 060928  R= 187 IN=   7595( 847) OUT=   7637 GAIN=    -42 SUM=    138
  NO 0611 060928  R= 178 IN=   5496( 907) OUT=   5483 GAIN=     13 SUM=    151
  NO 0701 060929  R= 207 IN=   7488( 513) OUT=   7651 GAIN=   -163 SUM=    -12




Drawdown measures a negative deviation from entry.  Auction markets move up
and down during a day.  Price may advance and then regress.  The drawdown
model here uses a fixed trailing risk (stop) from entry.  Either a trade is 
stopped out during the day or exits at the close.  Gain on the trade is the
measure of efficiency of the stop.  When run over a number of trades the
different risk levels can be compared.  One then knows just how much of an
initial risk to take.