Fund performance for September 2023
Overview
September 2023 has been a volatile month and was a very challenging month for me. The fund performance is positive (+2.7%) for the month, compared to the broad market S&P 500 index which is negative (-3.5%). In terms of trading performance, the overall win rate is 66.6% with a maximum drawdown of 2.6%, 5 consecutive win days and 3 consecutive loss days. The hawkish Fed has continued to impress upon the market that interest rates will stay higher for longer.
Technicals
September found new lows compared to the August lows and the down move was fast and steep. All moving averages (5, 10, 20, 30) were pointing down by the end of September 2023. The volatility index has steeply increased and found new highs in September (19.7) compared to the August highs (18.9).
Next step
Seeing that implied volatility has risen steadily due to more fear and uncertainty in the markets, I will be allocating more into medium term trades, and plan to take profit when there is less fear and uncertainty which should happen over time.
Summary
While September 2023 has seen a decent down move, it is not overextended yet. There is no need to be fully deployed at this stage and I plan to allocate about 25% of the fund into medium term strategies.
Relevant Links
From Investment Advisor to Trader: https://medium.com/@singaporeanlandlord/from-investment-advisor-to-trader-43d1e05e191e
Property Exit to Investment Advisor: https://medium.com/@singaporeanlandlord/property-exit-to-investment-advisor-ab5c05409e2e
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