August 24th will go down as a dark day in market history as the Dow Jones Industrials dropped over 1000 points in early trading. Days like this bring an ominous air to the hive.
The first profit and loss report was run early Monday morning. The Dow was just recovering from a 1000-point opening plunge and tensions were tighter than the e-string on a violin. The seconds seemed like hours while the server churned out the calculation that would give the bottom line for the fund – how many losses, how many gains, and is the fund up or down…
The first number to show up was profits: $33,638.
Next, the losses: $5,196.
Winners were beating losers by a 5:1 ratio; the early read on profits was nearly 3%. Tension turned to pure exhilaration as we started going through the detailed report.
The traders here at Apiary Fund are amazing.
I always tell people that the risk management system is for safety and learning. Yes, it’s true, Apiary Funds money is kept safe by the program that constantly monitors accounts and makes the call many of us are too timid to make – cut the losing trade. But performance on days like this cannot be attributed to the fail stop of the risk management system, but to the skill our traders have developed as they work toward funding.
The Apiary Fund risk management system keeps the fund safe, but it’s more than that. It’s teaching traders how to manage risk in the tsunami of market disasters.
As good as the numbers were in that first report of the day, what was an even greater accomplishment was the fact that not a single funded trader had been stopped out by the risk management system.
Again, I repeat. The Apiary Fund Traders are amazing!
Keep up the good work, and happy trading!