|
History
Mario Kelly and Daryl Swain began working together at a
London-based brokerage firm in 1992.
Kelly’s previous experience included stints at Morgan
Guaranty
Trust, Girozentrale Vienna, and various other European and UK
foreign exchange companies.
Swain, for his part, had traded a foreign exchange book with
multiple currency exposures, and had implemented innovative account
controls for several different institutions.
In 1998,
they formed Wallwood Consultants Ltd.,
to fill a demand for specialized foreign exchange training
and education. They began to
travel extensively around Europe and the UK, providing in-depth
advice on currency trading. After
three years of vigorous research and development, in January
2001, Wallwood Consultants began managing assets on behalf of
clients. In their first year,
Wallwood Consultants Ltd.
showed a net return of + 32%*.
Trading Philosophy
Wallwood
trades three currency pairs - US Dollar/Yen, Euro/US Dollar, and a
synthetic Euro/Yen cross position. The firm restricts its exposure
to this limited number of position combinations, says Kelly,
“because of its ability to capture the movements of the two main
liquid currency groupings, covering the three geopolitical
time-zones around the world.”
The trading
system employed by Wallwood consists of a form of "swing" trading.
Thus, the program follows the market wherever it is trending and
simply reverses, or 'swings', that move when the market changes
direction. Aiming to maximize
profits, the system uses trailing stops to limit losses when there
is no clear market direction. All positions have a stop in place
between 30 and 70 basis points,
away from where the current market is trading when a position
is established. In so doing,
the maximum loss on any position is clearly defined.
This type of trading system seeks to close out losing
positions quickly, and to hold portions of profitable positions for
as long as the trading system determines that a particular market
trend is continuing.
Although the
Wallwood program is systematic, the firm believes that most
technical indicators for currencies create too much of a time lag,
thereby trading behind the actual market. Instead of traditional
technical indicators, directing decisions to enter a position,
Wallwood's method is characterized by "support and resistance,”
and its own set of proprietary indicators.
The respected, independent rating
service, Barclay Trading Group, out of a database of over 600 CTAs,
has named Wallwood Consultants Ltd., the Number Three Overall CTA for
periods
Sep-2003 to Aug-2006**.
Minimum Account Size: $30,000 THERE IS SUBSTANTIAL RISK OF LOSS ASSOCIATED WITH TRADING COMMODITY FUTURES & FOREX. PLEASE READ THE CTA’S RISK DISCLOSURE DOCUMENT CAREFULLY BEFORE INVESTING MONEY. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Rankings calculated by Barclay Group.
* These
rankings contain the Top 10 performers for the period of
Sep-2003 to Aug-2006
in the category(ies) selected, ranked by Compounded Annual
Return. Only funds reporting NET OF ALL FEES have been included in these rankings
THERE IS SUBSTANTIAL RISK OF LOSS ASSOCIATED WITH TRADING COMMODITY FUTURES & FOREX. PLEASE READ THE CTA’S RISK DISCLOSURE DOCUMENT CAREFULLY BEFORE INVESTING MONEY. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. |
||||||||||||||||||||||||
