Chris

Tradesight September Forex Results

Before we get to September’s numbers, here is a short reminder of the results from August. The full report from August can be found here and you can get the last several months in a row vertically by clicking here and scrolling down.
Tradesight Pip Results for August 2011
Number of trades: 40
Number of losers: 23
Winning percentage: 42.5%
Worst losing streak: 3 in a row (twice, no big deal)
Net pips: +145
Reminder: Here are the rules.
1) Calls made in the calendar month count. In other words, a call made on August 31 that triggered the morning of September 1 is not part of September. Calls made on Thursday, September 30 that triggered between then and the morning of October 1 ARE part of September.
2) Trades that triggered before 8 pm EST / 5 pm PST (i.e. pre Asia) and NEVER gave you a chance to re-enter are NOT counted. Everything else is counted equally.
3) All trades are broken into two pieces, with the assumption that one half is sold at the first target and one half is sold at the final exit. These are then averaged. So if we made 40 pips on one half and 60 on the second, that’s a 50-pip winner. If we made 40 pips on one half, never adjusted our stop, and the second half stopped for the 25 pip loser, then that’s a 7 pip winner (15 divided by 2 is 7.5, and I rounded down).
4) Pure losers (trades that just stop out) are considered 25 pip losers. In some cases, this can be a few more or a few less, but it should average right in there, so instead of making it complicated, I count them as 25 pips.
5) Trade re-entries are valid if a trade stops except between 3 am EST and 9 am EST (when I’m sleeping). So in other words, even if you are awake in those hours and you could have re-entered, I’m only counting things that I would have done. This is important because otherwise the implication is that you need to be awake 24/6. Triggers that occur right on the Big Three news announcements each month don’t count as you shouldn’t have orders in that close at that time.
You can go through the reports and compare the breakdown that I give as each trade is reviewed.
Tradesight Pip Results for September 2011
Number of trades: 38
Number of losers: 15
Winning percentage: 60.2%
Worst losing streak: 3 in a row (all on September 28)
Net pips: +410
So while August is usually the slowest month of the year (and was); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES September came roaring back quickly with a huge win ratio for us and a big net gain for the month. Hard to complain at all. This wasn't about one or two trades that you had to catch to be successful. We nailed it pretty consistently and the winners were spread out over the month. Winning over 60% is always nice and leads to great things, and we did have several that went more than one session, which our strategy prefers.
Another positive sign was that the 6-month average ranges went up, which we like to see. The EURUSD, in particular, went from 155 pips a day average from the six months trailing September 1 to 165 pips by October 1. That's a whopping 10 pip gain on the six month average...huge. Makes for much better trading. Meanwhile, the poor USDJPY is almost becoming useless as it's average dropped from 78 to 70 during the month, with several days in the 25-35 pip range. Ouch.
Not much else to say. Another good month to tack onto what we've accomplished this year.
On to October…

by Chris