Invoking Rule #12 : Finished For the Year (More or Less)

• Negative YTD P&L at every single month end this entire year until now. Game changer was FOMC signalling intent for QE2 on 21Sep10. Am thankful for that lucky break and have today taken most of my money and (home) run.
• Positions reduced uniformly across the board by 70% today, with USD/CAD entirely squared off. Balance of 30% shall be the MAX risk I will run for the rest of 2010.
• Results not as good as hoped for at start of year, but certainly positive and some way in excess of projected living costs for next year. Under difficult circumstances for the larger part of the year, am most grateful to whatever gods may be for the positive close to my year. It matters not if trends continue strongly and I leave much on the table. Markets are forever and I can always come back and play later. Also, to hell with being true to the system and riding trends all the way. Better to lock in a good year now than to regret in Nov or Dec and scrambling in desperation when time has run out. Overall result qualifies 2010 as a decent year.
• Core book is now basically [+AUD+JPY vs -EUR-GBP]; [+Gold/-USD] and [-US10YY], all in light amounts. Whatever happens, remaining positions are unlikely to affect the outcome for my year too much now.
• Also proves - You must not give up. No matter how strait the gate, how charged with punishments the scroll, you just need one lucky break to turn things around. Provided, of course, you stay alive while waiting for that break.
• [Previous post on new rule #12 is NOT my set up for excuse to bail out now. It had been on my mind since my Jun this year when I Iet an intra-month plus YTD turn negative].