I’ve decided to update my blog weekly recapping system results along with market commentary as it relates to our goals. This will primarily help me keep focused to achieve our goals and you informed on what I am currently thinking and my plan of action.
This week I will not be trying to force anything. The market is tightening it’s range with no edge being gained by the bulls or bears nor risk-on vs risk-off. Basically, I have no read on the market so instead of becoming tied to an opinion the plan is to wait for fundamentals to show their hand. I will be taking profits from the London/New York session overlap premature of take profit levels and not adding to winning positions which is something you are not used to seeing.
The current goal is 15K% return for the year. This turns out to be an average just over 52% monthly. An acceptable minimum goal is 1K% return for the year. In order to achieve that a 20% average monthly return must be maintained. Prior to the ‘event’ that caused the risk controls to be put into place the system was averaging 42% monthly. Since the risk controls have put into place the system is averaging just under 17% monthly and rising.
The primary goal is to get that monthly average first over 20% and then slowly work towards bringing the average up to over 50% monthly to meet our goal. It is difficult to forecast how the market will be moving during the course of the month but with how they are acting right now the goal for the month is simply to be within that 20-50% range. If expansion picks up so will our monthly target.