NOTE: There is a change starting this month in how we calculate the results for Forex. In the past, if there was a trade call on the last day of the month (let’s say August 31, it would play out overnight and be in the September 1 recap, but we would count it in the August results because the call was technically made in August. Moving forward, we will now be counting that trade in September results instead of the August results just to keep the recap report dates aligned with the trading results posts.
Before we get to the August numbers, here is a short reminder of the results from July. The full report from July 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 July 2021
Number of trades: 14
Number of losers: 6
Winning percentage: 57%
Worst losing streak: 2
Net pips: +125
Reminder: Here are the rules.
1) Calls wrapped up in the recap reports for the calendar month count.
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 August 2021
Number of trades: 16
Number of losers: 11
Winning percentage: 31.25%
Worst losing streak: 4
Net pips: -60
Well, we always know in Forex that if there is a month that is likely to be negative for us, it’s August (or July). And so it was this year, our first negative month of the year, as the Forex markets basically stopped moving for global summer break. We only lost a net 60 pips and we dropped to half size for the whole month, which isn’t reflected in the results (we just count the raw pips), but there is a reason we do that. August can just be horrible.