Please find attached the net return for October 2023 for standard and higher risk strategies.
What we are finding currently in the forex market is traders are mostly focused just on US news events. What this means is we have situations of currency pairs trading to what they believe the news will be and then waiting for the news to be confirmed. As a result, if the news is correct, the currency pairs may stay at the current level. But if not correct, a mad flurry will occur as to what the news impact means now and going forward.
As a result, we have situations of many days of little trading occurring and if news predictions are incorrect, large swings occurring.
All our strategies are open for trade except the Kosciuszko SR and Kosciuszko HR. It is still holding buy EUR/USD trades. We are continually monitoring the market to see if any action is required. These two strategies have had some bots turned off to limit the amount of trading whilst we wait for the current positions to close out – hence the smaller monthly return.
The aim for our standard risk strategies is to achieve a return of 20% to 30% per year. For our higher risk it is 40% and above.
The October 2023 returns are showing we have already met these targets for most of our strategies. Some will not meet it as the strategy only started part way through the year.
In April 2023 we commented that Uluru returns were down, but this was because market conditions did not currently suit the trading strategy. It only takes one month and for October the Uluru strategy was extremely strong with returns of 4.23% on standard risk and 9.13% on higher risk. This is why we can never look at a strategy month to month as it all depends on what the forex market offers.
As always, we take the long-term view, and the strategies can only trade with what the market presents to us. Any queries, please do not hesitate to reach out to us.
