Spread Trading Journal - 8 Months of Records and Ongoing

[leenchoifutures]

My partner and I are both spread traders. Spread trading itself is nothing new, it involves simultaneously buying and selling two related assets, like gold and silver.

I met my partner at the beginning of 2024, and since then, we've been sharing our individual strategies with one another. By combining our insights and approaches, we’ve worked together to develop a more refined and comprehensive strategy for executing spread trades.


In June 2024, we opened an account at Kyobo Securities with a balance of 40,000,000 Korean Won, which was approximately $29,500 at the exchange rate at the time.

So far, we've primarily been active in one of the main Korean futures communities, where we've been sharing our results and trades in real-time. We now wanted to share our results even outside Korea, which is why we're starting this journal thread here.

Here's our results so far month by month:

June 2024

July 2024

Aug 2024

Sept 2024

Oct 2024

Nov 2024

Dec 2024

Jan 2024

Feb 2024 Not Completed

Current Positions

Withdrawals:

Here's the summary:

P/L has been positive for 8 months. Feb 2025 is yet to be completed but we might be suffering a small loss.

Average monthly gain is 6.8% so far.

We will be sharing on this thread when we liquidate current positions and/or enter new ones.

 

[leenchoifutures]

A little update to the current positions:

Sold 6 contracts of British Pound M6BH25, Price 1.2641
Bought 3 contracts of Euro M6EH25, Price 1.0477
Current positions P/L: -10,714 Korean won about -$7

 

[leenchoifutures]

Added 1 contract of FGBLM25(LONG) and OATH25(SHORT) each.

SILH25 switched to SILK25

Current balance: -1,388,519 Won, about -$1000

 

[leenchoifutures]

February of 2025 (9th month) closed with a negative P/L. It's the first negative month we've experienced so far since we opened this account.

Current positions are as follows:

 

[leenchoifutures]

2025.03.03 Update:

No changes to the current positions.

Current positions P/L: - $1509.71

 

[leenchoifutures]

2025.03.04 Update:


Replaced OATH25 and FGBLH25 with OATM25 and FGBLM25 due to monthly maturity.

March so far finalized P/L: -$1259.90

Account's current P/L: -$29.68

 

[leenchoifutures]

2025.03.06 Update:

Positions are still the same.
FGBLM25, OATM25 pair is about -$800
M6BH25, M6EH25 pair is about +$300
Gold and Silver pair is about +$700

Below is an accumulative summary of our 9 months journey so far:
* 60.87% return, +$17,956.04, started with $29,500
* Average monthly return of 5.63%

 

[FranziskaSchulz]

2025.03.06 Update:

Positions are still the same.
FGBLM25, OATM25 pair is about -$800
M6BH25, M6EH25 pair is about +$300
Gold and Silver pair is about +$700

Below is an accumulative summary of our 9 months journey so far:
* 60.87% return, +$17,956.04, started with $29,500
* Average monthly return of 5.63%

It would be way better f you could include the overall unrealized PNL of this account! I think that is actually very high!

 

[leenchoifutures]

It would be way better f you could include the overall unrealized PNL of this account! I think that is actually very high!

The overall unrealized PNL of the account is just the sum of the 3 pairs which would be +$305.07. Plus for the month of March we already finalized about -$1,259.90, so added up we are still minus this month. What are you referring to by very high?

 

[FranziskaSchulz]

What are you referring to by very high?

well as you described, the one who came up with this trading strategy !

 

[leenchoifutures]

2025.03.10 Update:

Today we liquidated the M6EH25/M6BH25 pair, +$349.68. March so far -$910.22 finalized P/L. Current account's unrealized P/L is -$276.99

 

[leenchoifutures]

Today we also purchased a $200,000 account at FTMO prop firm. We are pretty confident that we can pass their tests in one go but we will see. We wanted to go with TopStep but they don't have a swing account.

By the way FTMO charges swap fees for holding positions overnight and over weekends, which is something we are not familiar with when trading with our real account with Kyobo.

Does anybody know a trustworthy prop firm that offers a swing account without swap fees?

 

[leenchoifutures]

2025.03.11 Update:

We are holding the same contracts for the Kyobo account.

We are also day 1 into the FTMO $200k challenge and we are up about $900:

 

[leenchoifutures]

2025.03.12 Update

No changes to Kyobo positions.

Day 2 into FTMO $200k Challenge and we are up +$1,547.41.

We are spread trading with the challenge account as well, below some of our trades:

 

[leenchoifutures]

2025.03.13 Update

Still same positions with our Kyobo account:

Gold, Silver pair is about +$1000.

German bond, French bond pair is -$1599.99


We are pretty confident from experience and past data that the German French bond pair will eventually turn to positive P/L without going too much into a deep drawdown.

In case anyone wonders if we ever cut a loss, we do. If a pair goes the other way and starts to threaten -10% of the whole account value, we cut right away(this never happened since we opened the account in June 2024). For our current account -10% would be about -$4200.

 

[leenchoifutures]

Update on the FTMO challenge.

We are day 3 into the challenge, still about the same as yesterday: about +$1,500.

Long way to go to $20,000. They say it's a $200,000 account but in reality it's just a $20,000 account and it should be traded as such. We expect to pass the first evaluation test in 1-2 months safely.

 

[leenchoifutures]

2025.03.14 Update

Still holding same positions in the Kyobo account:
Gold(SHORT 1 micro @ 2931.8), Silver(LONG 1 micro @ 32.420)
OATM25(SHORT 3 micro @ 125.20), FGBLM25(LONG 3 micro @ 131.61)

Gold, silver pair going well about +$1575
OATM, FGBL pair same as yesterday about -$1599

 

[leenchoifutures]

Day 4 with the FTMO $200k challenge:

A step backwards today. We've gone as far as +$2000 as profit in equity, then went backwards down to +$900.
Now we are at +$1292.76.

Here's the full lists of trades that we've done so far(doesn't include current open positions):