Monthly and YTD Performance: August 2022, +2.96%

Mark NugentPerformance, Sept 2022

Monthly and YTD Performance: August 2022, +2.96%

August was hard work. I made a gain of 2.96 percent, and it was like getting blood out of a stone.

I placed only 5 trades: 3 winners, 1 breakeven and 1 loser. The loser was the first since the three-loser streak in April. It was caused by Fed Chair Powell’s Jackson Hole remarks which caused my GBPUSD short trade to momentarily spike upwards, hitting my stop for a loss of 2 percent, before reversing and doing what it should have done all along…sink. I had nursed that trade all week and, bar the spike, it would have made a profit. Powell killed my trade 20 yards before the finish line.

Year-to-date shows a gain of 46.2 percent. My win/lose ratio stands at 75% (target = 60%) and my reward/risk ratio for the winning trades is 1.26 (target = 1.0). So, not too shabby, but harder than it’s been in a wee while.

The real lesson here for me is that our approach to trading still works, even when the “accommodative” elements of low rates and colossal quantitative easing have been or are being removed. This is much better than having some “black box” strategy that just stops working in certain conditions. So, let’s stick with it.

The video contains more information on the rationale for all the trades and their management. This is a great learning resource. There’s always something to learn from this kind of post-event review.

You can download the video HERE.

The trade-by-trade spreadsheet is HERE.

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