October in Review

Posted on 31. Oct, 2009 by Jakob in Uncategorized

I actually started this month, believing that I wouldn’t be taking a lot of trades, and yet it turned out to be the month with the most trades, so far. However, as you all probably know (or should know), more trades does not necessarily imply more profits. I had a total of 18 trades, all posted on twitter in real time. These 18 trades resulted in +186 pips, and a 3.61% return on my account balance for October and a total of 14.66% since the end of June (See past performance here). Not amazing, but definitely better than last month. Of those 18 trades, 8 of them were closed out at break even. The main reason for this was my attempts to short the EUR/USD several times, when it reached 1.5000. Several of these trades were in profit close to 100 pips, but got stopped out at break even, anyway. I kept looking for a strong reversal, or at least a stronger retracement, around the 1.5000. There was a small break of this resistance level for about 60 pips, and then we had a beautiful reversal, with a drop of more than 200 pips in one day, and all the way down to 1.4717 where it’s currently trading. The remaining 10 trades were equally divided into 5 winning trades and 5 loosing trades. The average return in percentage on the winning trades was 1.62% and -0.9% for the loosing trades. Now there is definitely room for improvements. Looking back, I could easily have moved my stop loss to some 20 – 30 pips profit on the trades that got stopped out at break even. If I had chosen to take profit of 30 pips on 5 trades, rather than letting them hit break even, I would have had a much better percentage of winning trades, and my risk/reward ratio would still be intact. I might change my strategy slightly in the upcoming month to see if this will work in practice.

Another new element this month was the addition of news trades. Posting this over twitter is somewhat of a difficult task, as more information is needed than for normal market entries. I have received a few emails about how exactly to interpret the signals, and I have done my very best to give a thorough answer back. If you have any questions, feel free to contact me anytime. However, posting such signals over twitter (as well a normal market entry signals) is not the best solution. I am still in search for a better option. Currently I am looking at Collective2 but I am not sure this is the right choice (Possible constraints in opening a buy stop and sell stop simoustaniously, etc.). If you have any ideas, feel free to drop a comment.

That’s it for now. Enjoy the weekend guys.

Related posts:

1. November in Review
2. December and 2009 in Review
3. September in Review
4. January 2010 in Review
5. Review of Forex Signal Club

Tags: Forex Signals, free forex signals, my signals