ForexSpirit

November contained enough trading data for me to consider parsing some statistics.

I traded for the whole month using the scalping approach I have adopted since early October. All trades were taken in a demo account.

I used a fixed lot size for the duration of the month that was based on 3:1 gearing of my account balance at the start of the month. This means that no compounding took place.

My account equity return for the month was 16.78%.

Over the 18 trading days in November I placed 141 trades. 132 of these trades were either exited for a profit or at breakeven. This equates to 93.6% positive trades. This leaves nine losing trades.

The 132 positive trades generated 1292.2 pips over the course of the month. This averages to 9.789 pips per trade which is very close to the automatic 10 pip profit target that is placed on every trade.

The 9 losing trades cost me 755.1 pips in total. This works out to be 83.9 pips per trade which is below the 100 pip per average losing trade that I’m targeting. On the one hand this is good but looking at the numbers individually there are small losing trades offsetting some of the higher losing trades (170+ pips) so I can’t be too complacent here at all.

My net pip gain for the month was 537.1.

While I’m happy overall with my results for November it’s important that I look to continually improve myself. I would like to see a slight reduction in the number of losing trades I take in December. My target is to attain 95+% positive trades and to keep that level consistently.

I will continue to demo trade through December and will contemplate going live in the New Year if things are still going well.

December can be an unpredictable month at the best of times. This is normally attributed to banks, hedge funds and other institutions doing their year end bookkeeping which leads to positions being closed out, low volume and increased volatility. Doubly so this year with the unprecedented volatility that exists in all asset classes.