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Program Description:
Strategy Discussion
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Schindler Capital Management
primarily uses fundamental analysis
as opposed to using technical
analysis to formulate his trading
decisions, with the majority
of trades being in Class III
milk futures. Schindler Capital
Management reserves the right
to trade in other agricultural
and non-agricultural futures
on occasion. Fundamental analysis
is the consideration of factors
external to the market of a
particular instrument. For example,
weather, imports/exports, and
political events that affect
the supply and demand of that
particular instrument, in order
to predict future prices of
that instrument. Technical analysis
is not based on the anticipated
supply and demand of the "cash"
or "physical" (i.e.,
actual) commodity; instead,
technical analysis is based
on the theory that a study of
the markets themselves (in particular,
of trends of prices established
by the markets for various instruments
during selected historical periods)
provides a means of anticipating
prices. Technical analysis of
the markets often includes a
study of the actual daily, weekly
and monthly price fluctuations,
as well as volume variations
and changes in open interest,
utilizing charts and/or computers
for analysis of these items
and other technical market data.
Schindler Capital Management
focuses on factors that affect
the supply and demand of a particular
commodity which are examined
in order to predict future prices.
For example, some of the fundamental
factors affecting the supply
of Class III milk include, milk
production statistics, dairy
cow slaughter numbers, cost
of feed and weather. Fundamental
factors affecting demand include
commercial disappearance of
dairy end-products, dairy exports,
historic and seasonal patterns,
and general U.S. and world economic
conditions. In addition to USDA
and NASS weekly and monthly
reports, Schindler Capital Management
has developed a network of individual
dairy farmers across the country,
commercial cheese operations
and pit traders that help him
come up with his bias on the
market. Trade volume is expected
to be quite low, since this
is a trend-following approach.
Positions are typically held
several days, and even weeks
to months is not uncommon. However,
there may be times when trade
volume increases for short periods,
such as when positions are exited
or reversed due to a sudden
change in the trend.
The program primarily involves
buying and selling futures on
United States regulated exchanges.
Schindler Capital Management
may trade options. Schindler
Capital Management currently
does not trade on international
exchanges and does not trade
FOREX, however there are no
restrictions or limitations
on what commodity interests
or other interests it may or
may not trade. If the Advisor
decides to trade these markets
and products, the Advisor will
notify you before doing so.
The average amount of funds
invested for margin purposes
at one time will generally be
approximately 5% to 10% however,
the percentage may be substantially
higher or lower based upon the
current market conditions.
Generally, when new client accounts
are established, Schindler Capital
Management will need approximately
two to three weeks to initiate
new positions or enter markets
until the account is fully invested
in the program. During this
period, it is possible that
the performance of new accounts
will vary from accounts that
have already existed in the
program.
The minimum account size
is $100,000; however, Schindler
Capital Management reserves
the right to waive the minimum
requirements on a case-by-case
basis.
Management Information: Daniel
Scott Schindler
Daniel Scott Schindler was born
in 1966 and is the sole principal,
registered associated person,
and managing member of Schindler
Capital Management. He is responsible
for all trading decisions and
the general management of the
firm. Mr. Schindler earned a
Bachelor of Science degree in
Applied Mathematics from the
University of Wisconsin-Stout
in 1991. He obtained his Series
3 license and was approved as
an associated person on February
28, 2003 when he became affiliated
with Valley Futures, Inc., a
former registered introducing
broker and former Member of
NFA. In February 2004, Mr. Schindler
left Valley Futures, Inc. and
joined KDM Trading, Inc., a
registered introducing broker
and Member of NFA. Mr. Schindler
is a full-time futures trader
and broker at KDM Trading, Inc.,
holding the position of Vice
President. Mr. Schindler has
been a listed principal of KDM
Trading, Inc. since December
16, 2003 and a registered associated
person of KDM Trading, Inc.
since February 4, 2004. Mr.
Schindler has been a listed
principal of the Advisor since
May 7, 2009 and a registered
associated person of the Advisor
since June 30, 2009. In November
2006, Mr. Schindler established
a branch office of KDM Trading,
Inc. located in Wausau, Wisconsin.
In August 2009, this branch
was relocated to Fergus Falls,
Minnesota. Mr. Schindler’s
responsibilities at KDM Trading,
Inc. include handling both hedge
and speculative customer accounts
and writing weekly market commentary
and trade recommendations.
Daniel Schindler has a personal
trading account and reserves
the right to trade for his own
account in the future, especially
using the trading program offered
in this Disclosure Document.
Clients will not be permitted
to inspect the trading records
of such personal accounts.
Daniel Schindler has had
discretion over accounts as
a registered associated person
of KDM Trading, Inc. in its
capacity as a registered introducing
broker, an affiliated entity.
The program used to trade these
discretionary accounts is the
same program being offered in
the disclosure document. Daniel
Schindler has transitioned all
but one of these accounts over
to Schindler Capital Management.
The descriptions above are from
the manager's disclosure
document.
THE RISK OF LOSS IN TRADING
FUTURES, OPTIONS AND OFF-EXCHANGE
FOREX CAN BE SUBSTANTIAL.
PAST RESULTS ARE NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS.
PLEASE READ THE CTA'S RISK
DISCLOSURE DOCUMENT CAREFULLY
BEFORE INVESTING MONEY.
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CHECK THE MANAGED
FUTURES CTA DATABASE
performance information
on approximately
100+ managed accounts
setup
a free access key
at
ALTAVRA.com
or call 1-800-998-7870
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