Chaffcombe Finishes 2006 Up 53%

Chaffcombe is an experienced trader who I've mentioned in a couple of posts in the past.  I was reading his December 2006 report which recaps the year of 2006.  He finished 2006 up 53% in what he calls "a solid performance, which I am pleased, but one which, admittedly, I feel could have been better." This may be due to the fact that his gains in 2005 were a mind blowing 433%.  To put this into perspective, if he started 2006 with $50,000, he would have ended the year with $76,500.  This is a total gain of $26,500.  If he started 2005 with $50,000, he would have ended the year with $216,500 or a total gain of $166,500.  

Since June 2006, I've had gains of 52%. 

If anything, this just shows that capital is key to being able to trade full-time.  You can't expect to turn $10,000 into a livable income.   Even if you have a yearly gain of 433%, this would still only give you $53,300 at the end of the year.  This amount of money may be totally sufficient in other parts of the United States or the world but as I've said before, the cost of living in my area requires me to make at least $75,000 a year.  

Chaffcombe doesn't reveal one bit of information regarding his trading strategies but his site is still worth visiting.   Check out the following links for more information.

http://www.futurestech.com.au/index.htm

http://www.forexproject.com/Blog/Investing_and_Trading/Trading_for_a_Living/

http://www.futurestech.com.au/MonthlyReport_Dec2006.htm

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