October 2014 trading results – A Profit of 11.4% this month on my trading P/L account balance, with a Win Ratio of 67%. (Click on the image below to enlarge)
October Trading results were reasonable with my Scalping Strategy really taking hold at this very volatile time in the markets. The monthly P&L was 11.4% profit, taking my Financial Year to date profits to 70.02% and making a good start to the third quarter. The markets are starting to settle now as I carry over 3 main trades into November and I am starting to fill up the watch list with some good potential trades that should trigger in November. My Scalping Strategy will remain mainly on those trades that are open and have strong momentum, but will be complimented by EURUSD and DOW scalps moving forward.
The Win ratio for the month was 67% with an average win size of 1.21% on my trading account balance, which is below my minimum desired average for winning trades but importantly and increase on last months figures. The trading results for October have reflected the set scalping profit of 1.6% per trade and will no doubt play a major role moving forward in the average win size. I will try and hedge this with larger win sizes on EURUSD and DOW Scalps, but will remain disciplined at 1.6% on the scalps on current open longer term trades as these will be to turbo boost the main trade. The table below shows the updated figures for the financial year to date against my targets and last years figures. This month has seen my average monthly profit get back to 10%, which is still higher than my target for the year.
My Win Ratio for the year is slightly above target moving into the third quarter. The Average win % has dropped again and is mostly due to the win size of the scalp trades. I will look to increase win sizes on certain Scalp trades and when more main trades are in, I will see a natural increase in win size also leading into the end of this quarter trading results. I am carrying over 3 trades into November with an increasing amount of trades on the watch list, as the markets are starting to settle again, but my conservative approach to entry strategies will remain until the market has decided in the direction it is going. I currently have Trailing Stops on 2 out of the 3 open trades that lock in 1.3% profit on my trading account balance. The target for November is to increase the number of high probability trades going into the Sausage machine and build up a good positive momentum for this new quarter on my trading P/L account. I will continue to develop the scalping strategy to compliment my trading results.
|2013/2014 Targets||2013/2014 Actual Figures||2014/2015 Targets||2014/2015 Current figures|
|Average Monthly Profit||3%||6.55%||5%||10.00%|
|Win Ratio for the Year||60%||55%||60%||62%|
|Average Win %||1.6%||1.96%||2.2%||1.74%|