Before we get to June’s numbers (which were huge); 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 here is a short reminder of the results from May. The full report from May can be found here.
Tradesight Pip Results for May 2011
Number of trades: 36
Number of losers: 18
Winning percentage: 50%
Worst losing streak: 5 in a row (May 16-19)
Net pips: +266
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 2011
Number of trades: 42
Number of losers: 17
Winning percentage: 59.5%
Worst losing streak: 3 in a row (June 26-27)
Net pips: +645
Just a stellar month with several calls leading to triple-digit pip gains. It was a month where the market behaved very technically and reaching first targets was more common, increasing our win rate to almost 60% of triggered trades. One key here is that average daily range on the EURUSD has moved ahead of GBPUSD in the last few months, and we made more calls in the EURUSD this month. Additionally, the EURUSD 6-month Average Daily Range increased by 4 pips to 145 during the month of June, which means that we had a lot of days above that average to bring the 6-month number up. GBPUSD dropped to 136 pips of range per day. The JPY-based pairs continue to see less activity, with the USDJPY pair in particular being almost untradeable many days with 35 pips of range. Have to stay away from that pair for now.
Hopefully, July will continue to impress, as we know that August is, on average, the lightest month of the year for Forex ranges, but you never know.