October 2015 results came in at +10.54% — a significant decline from last month. But, given the amount of manipulation going on in USDJPY and CL, I’ll take it.
Many, many Fib patterns and chart patterns didn’t play out as they should have. And, many moves I forecast one day, played out the next — following hours of propping up.
Of course, it’s always going to be tougher when we have multiple central bank announcements (3 in October) and we’re in that harmonically volatile region between the .618 and .886 Fib retracement levels.
And, October was no exception. It was made all the more difficult by the absence of any meaningful retracements along the way.On a positive note, we achieved a significant reduction in the number of recommended trades. But, there’s still more work to do in terms of eliminating the whipsawing that goes on when the path isn’t very clear.
Another challenge I’m still working on is limiting recommendations to those which are expected to produce at least a 5pt gain. At times, this backfired as I was slower to pull the plug on a recommendation than was ideal. But, again, it’s a learning process. And, as markets evolve, so will my process.
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The Fine Print:
- Represents performance of a theoretical portfolio, where SPX is bought or shorted based on signals generated by my research. Your mileage will vary.
- Assumes no leverage: 100% long, 100% short or 100% cash.
- Prices listed reflect the index at the time tops/bottoms are called and/or trades are made and are believed, but not guaranteed, to be accurate. Dividends, transaction costs and any hedging costs are ignored.
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