What a stinker of a month. I’ve been saying for a while that the systems due a rotten month at some point. There were times when I honestly thought we’d get a losing month. However, somehow we managed to finish on £16 profit. Or 0.1% return. Haha. Blimey. Nice to make some profit though regardless. Below are the two .pdf’s as usual.
Quite a disappointing month following what was a very exciting September. The main reason for the slump being the lack of any big moves in the whole month. Something i’ve not witnessed before. A flat market all month and very indecisive. Lots of false signals leading to small profits and small losses. Luckily the disciplined control of the losses made sure that despite only having 12 winners from 31 trades, we still managed to finish on top.
Biggest trade of the month was a measly 1.0R trade. Which like I say, is rare. I’ve never had a month where no big move came along. Luckily we had couple of 1R trades. 1R being the return based on the risk. My short trade on 12th October at 07:00 clocking up 120.7 points at £4.30 a point and resulting in a £519.01 profit which required a risk of £498. When that’s your best trade of the month you know you’re going to have a tough one.
The run of 10 continuous losses between 27th October and 31st October were the killer. A total of £1638 in losses accumulated. I don’t like to say “if that didn’t happen then…” because it did. And wishing it wasn’t so won’t help anything. All I can focus on is staying true to the system, a system which has done us proud for a long time. It was due a wobble and hopefully this will be the only one we see this year.
However, we didn’t lose money. And thats crucial because drawdowns can really hamper your progression.
October saw the account grow from £19571 to £19587. A grand total of £16 profit. Don’t spend it all at once!
As always, if you are interested in enrolling on the Swingtrading Course for Beginners you can find out more here.