Overall performance

This month’s performance again returned a little over 4%, which is certainly in the right direction after a directionless start to the year.

My trading is basically divided up into Support and Resistance trading (buying low and selling high), and Breakout trading (buying high and selling higher or selling low and buying lower), on a 24-hour basis. What I try to do is figure out what’s working at any given point in time and what is not, and then trade accordingly. What seems to have happened over the last few months is that the markets seem to have moved from favouring the former to favouring the latter, at least within my time frame.

Individual components

The following charts again show individual equity curves in percentage terms of the various trading components traded throughout the period. The charts are from the beginning of reporting, or inception, with this month performance commencing from the vertical line.

Capital Allocation for period


Trade Components
GBP/USD: Here’s an example of what I was saying in the introduction. I changed from Support and Resistance trading to trading Breakouts around point 80, and the equity curve turned around.
AUD/NZD: Another ok month in the pair that currently represents the largest single element of my trading exposure. The problem with this pair is that it’s very expensive to trade, typically trading around 12-14 pips or about 13% of volatility, and the strategy I use is very sensitive to these costs. The number of times I’ve just failed to complete a set of trades due to the width of the spread can almost be heartbreaking at times. Still the P/L is still very good.

Not a good month for spread trading, as noted earlier.
Mixed Spreads and Breakouts
Three pure Breakout accounts; all of which did well during the month

Under simulation

Shown here are a few of the methods I currently have in simulation. As can be seen GBP/USD is still behaving very poorly - while AUD/NZD is working very well. Long-term trend following, and Line in the Sand seem to be indicating some ‘trendiness’ entering the market during the month.

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