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Catalogers never made much use of database marketing until the advent of the Web, because the nature of modern cataloging made it uneconomical to provide personalized communications. Now that the Web has arrived, catalogers should rapidly begin to use database marketing to build relationships with customers and to increase loyalty and cross sales. The methods are out there and are within the reach of all but the smallest catalogers. The increases in sales and pro ts can be substantial.

WHAT CONSTITUTES A GOOD ENTRY A good entry is one that initiates a trade at a point of low potential risk and high potential reward. A point of low risk is usually a point from which there is little adverse excursion before the market begins to move in the trade s favor. Entries that yield small adverse excursions on successful trades are desirable because they permit fairly tight stops to be set, thereby minimizing risk. A good entry should also have a high probability of being followed quickly by favorable movement in the market. Trades that languish before finally taking off tie up money that might be better used elsewhere; not only do such trades increase market exposure, but they waste margin and lead to margin-ineffCent trading or portfolios. Perfect entries would involve buying the exact lows of bottoming points and selling the exact highs of topping points. Such entries hardly ever occur in the real world and are not necessary for successful trading. For trading success it is merely necessary that entries, when coupled with reasonable exits, produce trading systems that have good overall performance characteristics.

One-click ordering Personalization of the Web site with cookies Cross sales accompanied by personalization and collaborative ltering Using the Web site to capture customer pro les, email names, and preferences Saving order ful llment costs through increased use of the Web

ORDERS USED IN ENTRIES Entries may be executed using any of several kinds of orders, including stop orders, limit orders, and market orders.

Email communications to drive traf c to the catalog and the Web Using customer-created pro les to capture email names and demographic information Using pro les to create personalized communications and Web sites Using control groups to measure the response to customer communications Online focus groups using captured customer email names Measuring multibuyer performance and using it to drive marketing strategy Live customer service on a catalog Web site Virtual models created by the customer

the other related kinds of information useful in assessing a trading system on a whole portfolio of commodities or stocks at once is made evident The process of conducting portfolio-wide walk-forward and other forms of testing and optimization is also described For example, instruction is provided on how to search for a set of parameters that, when plugged into a system used to trade each of a set of commodities, yields the best total net profit with the lowest drawdown (or perhaps the best Sharpe Ratio, or any other measure of portfolio performance desired) for that entire set of commodities Small institutional traders (CTAs) wishing to run a system on multiple tradables, as a means of diversification, risk reduction, and liquidity enhancement, should find this discussion especially useful.

Spices and herbs in cooking. Each week add a beneficial spice or herb when cooking until you are using such ingredients routinely. (See 3.) Salt. Each day gradually decrease use of salt and consumption of foods with high salt content, such as processed foods. Instead of using salt, try pepper, which helps in the absorption of many important phytochemicals. Alcoholic beverages. By the end of the first month, reduce consumption of alcohol to only seven to ten drinks per week, and emphasize wines, especially red wines. Coffee and tea. Caffeinated or not, these beverages help with detoxification, so building up to two to four cups per day can be helpful. Healthy snacks. You should try this first month to replace unhealthy snacks such as potato chips and high-sugar snacks with fruits, raw vegetables, and perhaps my snack mix. If in the course of following this program, you develop a reaction or allergy to some particular new food, try to determine what it is at an early stage. If it s a vegetable, replace it with a member of the same family or one that is closely related.

Expecting to drive traf c to a catalog Web site without a paper catalog Fancy ash pages that take too long to download Web sites that lack the information known to telephone sales reps Web newsletters, which may be overused Slow product search on Web catalog sites