Wins/Losses :  8/4

Total Return Month to Date: 0.3%

My triumphant return to profitability :-)

Well, it was a strange month indeed.  I’m still basically riding the flat line.  Cable Glider is actually on a 4 trade winning streak right now, but those gains have been offset by 2 consecutive losses in the Euro Ranger system. 

The average true ranges in the markets that I follow continue to be very high, which means that my position sizes must be relatively small to compensate for this.  Back when it was abnormal for the 40 period ATR on a 30 minute chart of GBP/USD to be above 20 pips, positions could be sized agressively enough that the system would tend to catch gains of up to 4 times what was being risked.  Nowadays, that same ATR can print in the 40 to 50 pip range, and a similar ATR on the Euro chart can be around 25 pips.  Most notably, the gains that the Cable Glider is catching are now tending to be less than 1 times the risk, and the range expansion in the Euro has forced me to take on more risk than I intended.  Right now, my level of capital and selected risk tolerance permit me to trade only one Euro contract at a time.  I know that there are mini-Euro contracts available, but they look much less liquid, so I avoid them.

So for now, it’s a good thing that I have a day job…my systems continue to sputter along in an environment that hardly resembles the environment that they were trained on.