October Review

Another profitable month showing a decent return and closing at new equity highs.  11 trades -  8 winners, 1 losers and 2 scratches.

Technically the only scratches were in Corn and 10Yr Notes.  However 3 of the other trades were no more than scratches in my way of thinking.  (Which raises the question – is a trade of +/- a few percent a scratch?  Not that it affects the numbers at all.)

The loser was:

• Gold ~ -100% return on risk

The winners were:

• Gold ~ 163% return on risk
• Coffee ~ 200% return on risk
• Gold ~ 204% return on risk
• Corn ~ 7% return on risk
• Cattle ~ 25% return on risk
• Dollar Index ~ 4% return on risk
• Japanese Yen ~ 3% return on risk
• Cocoa ~ 63% return on risk

Also another nice profit on the month for the short term trades in the Trading Den, for those members using that service.

So all 3 benchmarks close October at new highs and the updated graphs can be see on the charts to the right.

September Review

A profitable month finally getting us back up to equity highs.  7 trades -  3 winners, 3 losers and 1 scratch.

The scratch was in the Canadian Dollar.

The losers were:

• S&P Emini ~ -67% return on risk
• 10 Yr Notes ~ -44% return on risk
• Corn ~ -100% return on risk

The winners were:

• S&P Emini ~ 117% return on risk
• Sugar ~ 104% return on risk
• Bund ~ 265% return on risk

Another nice profit on the month for the short term trades in the Trading Den, which has now become a separate service.

Revisions to Services

After running the main SIR service for the last year with the short term trades added on for good measure, during September we are unbundling these two into separate services.  These will be made available to newcomers during October, initially with the launch of the Trading Den and then with a revamp and updating of this SIR website.

This does not affect existing members at all.

August Review

A generally nondescript month showing a mixed picture.  In summary:

• If you trade a smaller account you are likely to be down slightly on the month
• If you trade a larger account you are likely to be up slightly on the month
• The 3rd exit, our lowest percentage exit, came into its own this month
• All in all a treading water sort of month but with a lower %age of winners than we like to see
• 11 trades -  2 winners, 7 losers and 2 scratches
• Increased volatility has led to a higher number of full sized losers as we have been using tighter stops than current volatilities would normally dictate.  This can be a double edged sword of course.
• However – A huge profit on the short term trades making this a very good month indeed for those who trade both!

The scratch trades were in Cattle and the Euro.

The losers were:

• Beans ~ -100% return on risk
• Dollar Index ~ -100% return on risk
• Euro ~ -50% return on risk (120min trade 100% loss on half sized risk)
• Natural Gas ~ -100% return on risk
• Swiss Franc ~ -10% return on risk
• Natural Gas ~ -100% return on risk
• Euro ~ -100% return on risk

The winners were:

• Corn ~ +88% return on risk
• Coffee ~ +329% return on risk

Our usual metrics, none of which is perfect but give a general guideline, show the following for the month:

• 1% risk per trade made a loss of -0.42%
• Fixed $ risk per trade made a loss -$1423 per $1k risked per trade
• Fixed 1 contract per trade made a loss of -$3265
• Fixed 2 contracts per trade made a loss of -$2705
• Fixed 3 contracts per trade made a profit of +$5074

Now then the short term trades in the Trading Den – A profit on the month of $15,248 per unit. A unit is essentially 3 contracts with a typical total risk of about the same as 1 contract in the main daily trades (slightly lower risk in fact).  Add that lump of profit back in 1, 2 or 3 times to the numbers above and you can see why I have been encouraging my Direct Access members to join in.  Fortunately a few have been persuaded and consequently have had a great month.

Don’t get me wrong here.  This is not a substitute for the main trades.  But as I have been saying recently it is a way of continuing to put money in peoples pockets while we ride out this irritating flat period.

Over the last couple of months we have been revising our membership options and are starting to update the website.  This should be completed in the next few weeks.  In future it is even possible that an AutoPilot version of the short term trades may become available either as a new service or as an add on for existing members whose personal circumstances prevent them from being able to trade during the day.  George and I have been discussing this for some time and how it might be feasible.  There is no decision yet but one thing we do know is that we would need a minimum of 3 people on the scheme to make it feasible.  So I would encourage anyone who might be interest to let me know, so that we can decide whether to pursue this option further.

Short Term Trades

I had a conversation today with one of our members and very close friend about sizing our short term trades.  This made me take a closer look at what we have been doing in this project.

It is now a year since we started this and in some ways it was a stressful thing to do.  The main daily SIR strategy I developed in private and never let anyone else near it until it was just right.  With the short term trades I decided to develop this effectively in front of a live audience – You!  Or more precisely about half of the SIR members.

We started last summer trading off hourly charts.  More recently this year we dropped down to 5 min charts.  Interestingly today on 5 min charts we are using the same initial risk per trade (and hence proportionately the same profits) as we were using on 60 min charts this time last year!  That gives you a measure of how volatilities have exploded recently.

Anyway since starting this last summer before this live audience of a group of great traders and friends our short term trades have banked $76,636 if you have taken every one of them.  If you have missed the occassional one, or even whole chunks of them, the consistency with which these profits have been made mean it really doesn’t matter.  There are no huge outliers just a steady flow of regular additional profits.

We size these trades using a 3 contract unit and as a rough guide you trade one unit for each contract you typically trade on the main daily trades.  So someone typically just trading 1 lots on the daily trades would have banked this extra $76k if taking the short term trades.  A 2 or 3 contract trader on the daily service can multiply that $76k by 2 or 3.  That gives you a measure of how much additional profit has been made available to those members who wanted to take part.

I know I regularly try to encourage our members who dont use this additional service, to come and try it.  I know that not everyone wants to and thats is entirely a matter of personal choice.  But here is the thing.  We all know the daily trades made huge amounts of money in 2009 and 2010.  I know members who made many hundreds of thousands with this and that is wonderful.

But this year has been much more challenging for the daily trades.  They havent really gone backwards too far, but they haven’t made the same progress recently that we are all used to.  In fact out P&L curve looks just like a tight little bull flag.  The great thing about trading both is that while the daily trades have been flat the short term ones have been bringing home the bacon, so it has already been a nice profitable year for those who have been trading more actively.

I’m telling you all of this for two reasons.  Firstly because I want all members who have historically not been interested in the short term trades to be fully aware of what they are choosing not to participate in.  Secondly because I am preparing to make these short term trades available as a seperate service for day traders who need this sort of lower risk facility.  With the explosion in volatility I actually dont want to take on any more daily SIR members, aside perhaps from those with sizeable accounts.  Not because we have had a bit of a flat period, because these longer term trades will always be my personal favourites.  But because gone are the days when we can regularly trade the dailies with $500 – $1000 initial risk as we could a year ago.

The short term trades still allow us to trade a 3 contract unit for $1,000 risk +/- and of course a newcomer can (and in my opinion should) start trading single contracts for just a tiny little risk per trade.  So this provides easy access to get started for those who are not sitting on a huge bank of money made in earlier years.  So while SIR as we know it will always be where my own heart lies I intend to encourage newcomers to at least start with the day trading.

Consequently these short term trades will become available as a seperate subscription starting in September.  So I do anticipate the numbers joining us in the chat room to grow over the coming months and most of the newcomers will not be having access to the daily trades.

If you are interested in taking another look at our real time track record since starting this short term trading – every single trade is captured here in the 2 pages of this spreadsheet…

http://www.seriousinvestmentreturns.com/wp-content/uploads/TTD.xlsm

July Review

A profitable month with a nice pick up in activity levels.  12 trades -  6 winners, 5 losers and 1 scratch.

The scratch was in the Dollar Index.

The losers were:

• British Pound ~ -100% return on risk
• Dollar Index ~ -25% return on risk
• British Pound ~ -100% return on risk
• Crude Oil ~ -100% return on risk
• Wheat ~ -29% return on risk

The winners were:

• Crude Oil ~ 157% return on risk
• Natural Gas ~ 54% return on risk
• Euro ~ 111% return on risk
• British Pound ~ 182% return on risk
• Wheat ~ 63% return on risk
• S&P 500 ~ 60% return on risk

It was a short month for the 5 min trading due to my holidays.  However we made another nice profit on the month, almost $8,000.

It is great to see activity picking up again after a really quiet few months.  There is nothing more frustrating than being a trader with nothing to trade!  So lets hope this trend continues for the rest of the year.

June Review

A losing month equivalent to 2 full sized losses.  6 trades -  2 winners, 4 losers and no scratches.

The losers were:

• Sugar ~ -100% return on risk
• Beans ~ -57% return on risk
• Beans ~ -67% return on risk
• Dow Jones ~ -100% return on risk

The winners were:

• Coffee ~ 68% return on risk
• Dollar Index ~ 58% return on risk

Our 3 performance measures continue to show the torment of a lengthy consolidation…

The worst thing about June was not a couple of net losers on the month, but the failure to hitch a ride on two of the best moving trades we have seen in months – in the case of copper missing the entry fill by just 2 ticks!  But such is life and we just have to press ahead and put these frustrations behind us.

The 5 min trading continued to make a nice profit on the month, over $7,000 actually, which isn’t bad considering it was a short month with trips to Chicago and Los Angeles occupying the last couple of weeks.  As chat room users are aware we are building this side of the business both in terms of trade size and frequency.  This is the ideal way to offset the chop on the daily timeframe until we final break free of the type of action we have see of late.

Chat Room Dates

July 5th will be the next time I am in the chat room.

May Review

A small loss on the month equivalent to less than 1 full sized loser.  7 trades -  5 winners, 5 losers and no scratches.

The losers were:

• Bean Meal ~ -100% return on risk
• Sugar ~ -100% return on risk
• Cotton ~ -100% return on risk
• Nasdaq ~ -100% return on risk
• Australian Dollar ~ -100% return on risk

The winners were:

• Hogs ~ 277% return on risk
• Gold ~ 129% return on risk

This really has been the most frustrating of periods recently, make a little, lose a little, make a little, lose a little etc.  Our 3 performance measures all show this rotation clearly…

The 5 min trading continued to make a little bit of profit, another couple of thousand this month.  As chat room users are aware we are looking to build up this side of the business further this summer by adding to our SIR trades, the BTC trades and ultimately two other systems.

April Review

A small profit on the month, but no let up in the taxing environment that has dogged us recently.  7 trades -  3 winners, 4 losers and no scratches.

The losers were:

• Bonds ~ -75% return on risk
• Natural Gas ~ -72% return on risk
• Corn ~ -150% return on risk
• Corn ~ -100% return on risk

The winners were:

• Coffee ~ 210% return on risk
• Copper ~ 37% return on risk
• British Pound ~ 217% return on risk

All three performance measures showed a positive month but nothing like the size of monthly profits that we are used to.

The dramatic moves seen in the first few days of May should be a great help in getting things moving again.

The shorter term trading showed a bit more sign of life this month posting a solid profit and of course we also started the 5min trading towards the end of the month.  This also got of to a positive start.

March Review

Well March proved to be another difficult month in which the crazy choppy markets continued to be crazy and choppy!  However we made a small profit on the month, which was a pretty reasonable outcome given the environment that we have been having to navigate in.  7 trades -  2 winners, 3 losers and 2 scratches.

The breakeven trades were in Soybeans and Sugar.

The losers were:

• Nasdaq ~ -100% return on risk
• Cattle ~ -100% return on risk
• Sugar ~ -53% return on risk

The winners were:

• Bonds ~ 188% return on risk
• Swiss Franc ~ 151% return on risk

All three performance measures showed a positive month leaving us tantalisingly close to equity highs.

As we have always said the mark of a great system is its ability to hold its own during the rough times without giving everything back.  This is broadly what we have been seeing during these last few weeks that many experienced traders are describing as some of the worst they have seen in decades.

By hanging around close to equity highs we are in a great place to take full advantage of the turnaround which will be along soon enough, without having massive ground to make up like the majority of traders will have to do after taking a beating in the early part of this year.

February Review

The markets remained astonishingly difficult to navigate in February, so it is pleasing to have made a profit in the month.  6 trades -  4 winners, 1 losers and 1 scratch.

The breakeven trade was in Gold.

The loser was:

• British Pound ~ -100% return on risk

The winners were:

• Natural Gas ~ 330% return on risk
• Cocoa~ 67% return on risk
• Australian Dollar ~ 19% return on risk
• Canadian Dollar ~ 51% return on risk

That pretty well makes up for a losing January but still leaves us a little below equity highs.  Our choice of three performance measures now stand as follows:

• $86,699 profit per $1,000 risked per trade (Nov closed at $89,149)
• $120,972 profit per 1 contract per trade (Nov closed at $124,374)
• 135.4% profit using 1% risk per trade (Nov closed at 141.3%)

We remain cautious at this difficult time, but pleasingly the system is designed to produce far fewer trades when times get tough which is exactly how it should be.  So our activity level can be expected to pick up when the environment becomes more productive, as it always does eventually.

We have cut right back on shorter term trading and are doing virtually nothing on the hourly timeframe for example while the choppiness continues.  However we are now actively following the 480 min charts with a view to possibly using these as well in future.  The reason is to boost the number of daily-ish trades to make more out of the next good run we get.  The 480 can effectively be managed by those who are not active traders as it only requires one additional update per day at around 3pm UK time (9am Central).  Like the daily charts the number of trades being thrown up is considerably reduced during choppy times like we have been seeing.  But when things pick up again this could quite feasibly double our number of trades without the need to be glued to a screen all day.  Therefore this seems like a worthwhile exercise to be undertaking.  We will keep you posted as this develops.

January Review

A second month showing a small net loss on the month.  8 trades -  2 winners, 5 losers and 1 scratch.

The breakeven trade was in the Canadian Dollar.

The losers were:

• Bund ~ -100% return on risk
• Natural Gas ~ -58% return on risk
• Japaese Yen~ -100% return on risk
• Sugar ~ -57% return on risk
• Nasdaq ~ -100% return on risk

The winners were:

• Cotton~ 10% return on risk
• Coffee ~ 12% return on risk

A rough month showing a net loss of approximately 3.9 losers.  Unlike December which should not have been a losing month, this was a ligitimate losing month.  With sensible money management this should be annoying but too big a deal.  Our profit to date ticked back to $83,036 to $1000 risked and to $117,578 per contract on our usual measures.

After several discussions recently about possible institutional money joining the programme we have started monitoring a third P&L measure based upon a fixed 1% risk per trade, with a maximum risk per month of 5% of capital.  Leverage and the management of trade size is explicitly an individual choice, but this is a level of risk that we would be happy to apply mechanically.  In the 1% risk per trade measure the P&L to date closed January at 127% (down from a closing November at 141%).

December Review

A busier month, but one we could have done without.  10 trades -  2 winners, 7 losers and 1 scratch.

The breakeven trade was in the Euro.

The losers were:

• Japanese Yen ~ -100% return on risk
• Sugar ~ -100% return on risk
• Cocoa ~ -100% return on risk
• Natural Gas ~ -100% return on risk
• Sugar ~ -35% return on risk
• Hogs ~ -33% return on risk
• Euro ~ -100% return on risk

The winners were:

• Australian Dollar ~ 250% return on risk
• Crude Oil ~ 110% return on risk

As rough a month as December was, we did in fact close the month down just the equivalent of 2 losing trades.  The first two losers were a source of much personal anxiety as these should really have been breakeven trades had I not used such tight stops, which on balance is the difference between a breakeven month and a losing one.  Lesson learned!

SIR60 completed its 6th profitable month taking the total to date up to $56,649 in additional profits trading 3 contracts across the board.

So a slightly tarnished end to another great year.  Now on to the next one!

November Review

Still relatively quiet this month.  7 trades -  5 winners, 1 loser and 1 scratch.

The breakeven trade was in Bonds.

The loser was:

• British Pound ~ -60% return on risk

The winners were:

• Crude Oil ~ 238% return on risk
• Dollar Index ~ 58% return on risk
• Wheat ~ 67% return on risk
• Cattle ~ 96% return on risk
• Dow Jones ~ 36% return on risk

A nice profitable month closing at new equity highs again.  This takes the score to date up to:

• $124,374 per contract on the cruder unbalanced scale, and
• $89,049 per $1k risked on our preferred balanced risk measure

SIR60 completed its 5th profitable month out of 5 and a total of $54,914 in additional profits to date trading 3 contracts across the board (but 1-lots only in the Dax).  I still think there is room for improvement here but we are seeing better consistency now and so I am starting the process of increasing trade size in December.

October Review

Well it wasn’t as busy as we were hoping it might have been, but October was yet another profitable month to add to the collection.  8 trades -  4 winners, 1 loser and 3 scratches.

The breakeven trades were in Cocoa, Corn and Silver.

The loser was:

• Bonds ~ -41% return on risk

The winners were:

• Canadian Dollar ~ 35% return on risk
• Bean Oil ~ 330% return on risk
• Coffee ~ 145% return on risk
• Platinum ~ 69% return on risk

My only regret this month was that the Bond trade did eventually perform rather nicely had we been more patient with it.  However it also ran to within 2 ticks of our stop first!  Patience would have delivered more from the Coffee trade as well.  But in this business just about every trade you take could have been managed better and it is our objective to grab a decent lump out of the middle of each swing, not to try to buy the low tick and sell the high tick.

A nice profitable month closing at new equity highs again.  This takes the score to date up to:

• $119,642 per contract on the cruder unbalanced scale, and
• $84,709 per $1k risked on our preferred balanced risk measure

SIR60 is progressing reasonably well, racking up its 4th profitable month out of 4 and a little over $42,000 in additional profits to date trading 3 contracts across the board (but 1-lots only in the Dax).  There is still room for improvement here but we are headed in the right direction for sure.

September Review

The choppy action persisted in many markets through a quiet September.  S-I-R had an exceptionally quiet month with just 6 trades -  2 winners, 2 loser and 2 scratches.

The breakeven trades were in British Pound and Canadian Dollar.

The losers were:

• British Pound ~ -66% return on risk
• Cattle ~ -100% return on risk

The winners were:

• 10Yr Notes~ 59% return on risk
• Bean Meal~ 124% return on risk

Although is was both a disappointing and boring month, it was still technically positive and hence our 18th profitable month out of 19.

There also seems to be a nice little community building in the Members Forum which is great to see.  The actual trades taken in the forum remain very much in R&D mode still.  Thanks to just a handful of nice trades the SIR60 system did have another profitable month, but the majority were really just flat on the month thanks to the choppy environment.  But it is way too early to be concerning ourselves with performance stats here and I anticipate trading these on my “3-lot paper trading” size for a while yet.  Never the less we survived a pretty testing time in most markets.

October is what we will look forward to in the hope that quite a few weeks of junk will eventually result in some nice new clean trends, as usually happens when we come out of such environments.

August Review

August was a typical August (the month that many traders like the least) with quiet markets that in the main fail to follow through and choppy, sloppy action is more prevalent.  S-I-R had a very typical 10 trades during the month -  4 winners, 1 loser and 5 scratches.

The breakeven trades were in 10yr Notes, Japanese Yen, Copper, Coffee and Australian Dollar.

The loser was:

• Hogs ~ -30% return on risk

The winners were:

• Canadian Dollar~ 14% return on risk
• Cocoa ~ 189% return on risk
• Japanese Yen ~ 59% return on risk
• Wheat~ 98% return on risk

So August closed at new equity highs of $114,497 per contract or $79,151 per $1k risked, however you prefer to look at it, and was our 17th profitable month out of 18.

We also just about completed the members forum and got that running, during the month.  This is a first build only and there will be an updated version in the future incorporating the improvements we find useful as we start using it.  The main thing is that we now have the mechanism to start work on the SIR60 trades.

July Review

July was quite quiet with just 8 trades -  3 winners, 1 loser and 5 scratches.

The breakeven trades were in Gold, Coffee, Hogs, Cocoa and Natural Gas.

The loser was:

• Natural Gas ~ -100% return on risk

The winners were:

• Australian Dollar~ 141% return on risk
• 10 Year Notes ~ 186% return on risk
• Coffee ~ 429% return on risk

So July closed at new equity highs as our 16th profitable month out of 17.

The real challenge at the moment is to get SIR60 up and running.  This is well underway but as with all things technical it is taking a bit longer than I had really hoped for.  The good news is that the early few trades I have taken myself off the hourly charts have been profitable.  I’ll give you the numbers once we have the software running in a few days time.  I’m very excited about this development.  I know not everyone is interested in these extra trades, but for those that are I think this will be fun as well as profitable.  More news shortly!

SIR60

After consultation with the members I am currently working on setting up an additional service to further benefit members trading the SIR signals.  We call these SIR60 as they are based upon trade setups on the hourly charts rather than the daily charts that we normally use.  SIR60 uses exactly the same trading strategy as the original SIR trades, just applied to a shorter timeframe.  When launched I anticipate SIR60 will provide an extra 5-15 trades per week, each with a very small initial risk of just a few hundred dollars.  It should also satisfy the needs of active traders who “need to be doing more”!

June Review

June took care of the losing month in May and got us back up to equity highs.

We had a very typical 12 trades during June -  7 winners, 3 losers and 2 scratches.

The breakeven trades were in Cotton and the Australian Dollar.

The losers were:

• British Pound ~ -100% return on risk
• Sugar ~ -47% return on risk
• Natural Gas ~ -53% return on risk

The winners were:

• Platinum ~ 49% return on risk
• Hogs ~ 133% return on risk
• Natural Gas ~ 140% return on risk
• Bean Meal ~ 31% return on risk
• Corn ~ 101% return on risk
• Crude Oil ~ 104% return on risk
• Copper ~ 24% return on risk

So the objective for July is simply to keep on going!

June Relief!

After 14 consecutive profitable months, May turned out to be the inevitable losing month that we knew had to arrive at some time.  May was a terrible month for most traders and strategies with so many shocks hitting the markets and causing instantaneous reversals, sometime several times in a single day!  It was S-I-R’s worst drawdown period to date (not that it was a terrible drawdown).

So it is with great relief and much delight that just 2 weeks into June we have fully recovered from the whole of the losing month and are right back up at equity highs.  Let’s hope the remainder of the month can produce a few trades that push us nicely up to close at another new equity high.

May Review

We knew it would come along eventually and May turned out to be our losing month ending the previous run if 14 profitable months.  It was a horrible month across the board and one which we will all remember for the way that all markets suddenly become correlated and also for the large number of news / rumour / intervention events.  The only positive is that we did have relatively few trades set up and those that did we played very cautiously once the character of the month became clear.

We had a 8 trades during May-  2 winners, 5 losers and 1 scratches.

The breakeven trades was in Hogs.

The losers were:

• Soybeans ~ -100% return on risk
• Silver ~ -100% return on risk
• British Pound ~ -100% return on risk
• Cocoa ~ -59% return on risk
• Bean Meal ~ -11% return on risk

The winners were:

• Soybeans ~ 51% return on risk
• Platinum ~ still underway but worst case is now +33% return on risk

So we look forward to June being much more the sort of month we are used to!

April Review

We had a very typical 13 trades during April -  7 winners, 4 losers and 2 scratches.

The breakeven trades were in Cocoa and S&P.

The losers were:

• Cattle ~ -29% return on risk
• British Pound ~ -52% return on risk
• Hogs ~ -62% return on risk
• Crude Oil ~ -100% return on risk

The winners were:

• Cotton ~ 24% return on risk
• Swiss Franc ~ 36% return on risk
• Dollar Index ~ 73% return on risk
• Sugar ~26% return on risk
• Crude Oil ~ 11% return on risk
• Natural Gas ~ 33% return on risk
• Gold ~ 86% return on risk

It wasn’t a great month due to a combination of having a few losers plus none of the winners really getting much traction.  We usually get one or two trades that really fly making some nice money.  However the strategy still had a positive month, making 14 consecutive positive months.

Now Trade S-I-R on Autopilot

Too busy to place the orders?  Worried you might miss some of the trades?  Tempted to outguess the system or “fiddle” with the trades?

Help is at hand!  What you need is a friend called George.  Fortunately I have a friend called George and he has kindly offered to help you out.  You can read about his offer in the penultimate paragraph on the How We Work page.

March Review

March was another pretty quiet month with 8 trades.

There were no losers again but breakeven trades in Cotton and Silver.

The remaining 6 profitable trades were:

• Gold ~ 52% return on risk
• Orange Juice ~ 8% return on risk
• Corn ~ 6% return on risk
• Corn ~ 94% return on risk
• British Pound ~ 33% return on risk
• Cotton ~ 47% return on risk

This brings our profit to date up to $68,181 to $1,000 risk per trade and 13 profitable months out of 13.

February Review

February was a quiet month with just 6 trades.

There were no losers but Cattle and Hogs were both breakeven trades.

The remaining 4 profitable trades were:

• Coffee ~ 45% return on risk
• British Pound ~ 217% return on risk
• Cocoa ~ 130% return on risk
• Bund ~ 20% return on risk

This brings our profit to date up to $65,779 to $1,000 risk per trade and 12 profitable months out of 12.

So all in all I would have preferred to have been a bit busier, but at least that takes the SIR system up to the end of its first year with a profit being made every single month.

January Review

January saw a very typical 12 new trades opened during the month.

There were no losers, but there were no less than 8 breakeven trades.

This left 4 profitable trades:

• Natural Gas ~ 33% return on risk
• Dollar Index ~ 172% return on risk
• Euro ~ 178% return on risk
• S&P e-mini ~ 71% return on risk

This brings our profit to date up to $61,663 to $1,000 risk per trade and 11 profitable months out of 11.

Unusual to see so many scratched trades, but these are preferable to losers of course.

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