Before we get to May’s numbers, here is a short reminder of the results from April. The full report from April 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 April 2014

Number of trades: 18
Number of losers: 7
Winning percentage: 61.1%
Worst losing streak: 2 in a row
Net pips: +70 pips

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 May 2014

Number of trades: 17
Number of losers: 6
Winning percentage: 64,7%
Worst losing streak: 2 in a row
Net pips: +115 pips

An interesting month, indeed. As per the last 10 months (and especially the last six), things were lean. Ranges were poor. For example, the 6 month average daily range on the EURUSD is down to 70 pips. That’s as opposed to 110 pips a year ago. In fact, of the 10 major pairs that we cover, not one has a 6 month average daily range over 100 now. That has never happened in the decade that I have been trading Forex. We also set a new record low for number of trades in the month as we had several sessions where nothing triggered because the ranges were so bad. Only 17 trades triggered in May, and that’s even more amazing when 2 of them only triggered partially using our order staggering system. But, the interesting part is that we still locked in over 100 pips of gains for the month because we didn’t have many losers. You’d take 115 pips times 12 months and be OK with it. We did finally have a couple of trades that followed through. On to June, and summer, which would seem like a strange time for things to pick up…

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