Before we get to June’s numbers, here is a short reminder of the results from May. The full report from May 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 May 2013
Number of trades: 27
Number of losers: 10
Winning percentage: 63%
Worst losing streak: 3 in a row
Net pips: +390
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 June 2013
Number of trades: 21
Number of losers: 8
Winning percentage: 62%
Worst losing streak: 2 in a row
Net pips: +210
The ranges died down again late in the month, but there was some action early. We had less trades trigger than usual, which is good when ranges are narrow. Only 21 trades triggered in the course of the month. When you win 62% of your trades, you should have a decent month at least, and while the results weren’t as nice as the prior month (because we didn’t get the follow-through), I’ll take this any time.
Note that the 6-month average daily ranges of most of the pairs actually expanded in the month of June, despite the fact that the GBPUSD and EURUSD had 60-pip-range days late in the month. The EURUSD 6-month trailing average inched up from 104 to 106 pips, while the GBPUSD jumped a bit more, from 109 to 116. A 7 pip change in a 6-month average over 30 days is actually pretty good. This represents some really poor days from six months ago dropping off.
One thing that is missing currently is any major setups in any of the pairs. Everything is in a “No Man’s Land” area, which doesn’t do much for us, especially without ranges. It will be interesting to see if we get the usual August slowdown this year, but we still have July ahead of that.