Hi All,
Monthly update for November, first let me address the elephant in the room, the aud cad dd is ongoing and dragging on like we are treading water, we were literally about 10 pips away from break even on Thursday, yet with cad gdp last night we have taken a few steps backwards, well to be honest we are back at the latest entry, so square one, yes this is annoying and keeps me awake at night, just when we think we can exit the basket news keeps pushing price against us, we are now back at strong support and I expect again a decent pull back or full reversal, we witnessed this over the last 7-10 days.
I know this is annoying however as advised in my previous posts I will manually cut this basket if we reach 5-6% dd, I really don't want to exceed the max historic dd,
On a positive note, for November the master achieved a gross return of 4.2% and the MAM running at 1.5 x Risk returned 5.75%, the risk multiplier does not reflect accurately as the master and MAM are with different brokers, also the MAM with BlueBerry Markets(STD) is based on slightly higher spreads than the master with IC Markets(ECN).
Even with the current draw-down we still achieved a NET EQUITY return of 2.55% on the master for November, and 4.08% for the MAM,
Last nights cad gdp worked well with the synthetic hedge, regardless of the data we would have booked pips in both directions, while the usd cad basket was closed and we gained additional pips in the correct direction, I was actually hoping we could have closed the aud cad basket instead(to take risk off), and naturally booked pips in the other direction.
Moving forwards, I will continue to hold the aud cad basket and continue to trade the aud/nzd and usd/cad,
I would like to thank all the subs and people in the MAM for your confidence,
Please let me know if you have any questions,
Best Regards,
Satang FX / minkw
www.satangfx.com
invest@satangfx.com
Monthly update for November, first let me address the elephant in the room, the aud cad dd is ongoing and dragging on like we are treading water, we were literally about 10 pips away from break even on Thursday, yet with cad gdp last night we have taken a few steps backwards, well to be honest we are back at the latest entry, so square one, yes this is annoying and keeps me awake at night, just when we think we can exit the basket news keeps pushing price against us, we are now back at strong support and I expect again a decent pull back or full reversal, we witnessed this over the last 7-10 days.
I know this is annoying however as advised in my previous posts I will manually cut this basket if we reach 5-6% dd, I really don't want to exceed the max historic dd,
On a positive note, for November the master achieved a gross return of 4.2% and the MAM running at 1.5 x Risk returned 5.75%, the risk multiplier does not reflect accurately as the master and MAM are with different brokers, also the MAM with BlueBerry Markets(STD) is based on slightly higher spreads than the master with IC Markets(ECN).
Even with the current draw-down we still achieved a NET EQUITY return of 2.55% on the master for November, and 4.08% for the MAM,
Last nights cad gdp worked well with the synthetic hedge, regardless of the data we would have booked pips in both directions, while the usd cad basket was closed and we gained additional pips in the correct direction, I was actually hoping we could have closed the aud cad basket instead(to take risk off), and naturally booked pips in the other direction.
Moving forwards, I will continue to hold the aud cad basket and continue to trade the aud/nzd and usd/cad,
I would like to thank all the subs and people in the MAM for your confidence,
Please let me know if you have any questions,
Best Regards,
Satang FX / minkw
www.satangfx.com
invest@satangfx.com
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