June was an overall tough month for me—while being new to the challenge it has been a struggle watching people make money around me as it’s normally the other way around. June was the month of trying to play catch up and I have to learn I need to build by account, not blow it up. $-1150 for the month and already off on a bad trade in July. Things I did well this month was seeing the patterns and creating watchlist that panned out as planned. I made a couple decent trades and had some decent sized gains.
Unfortunately (again) I let my ego get in the way of things and I took some rather large losses which killed my gains. Everything I did made progress on in May, I went backwards in June. I also chased too many morning spikes thinking I could get in and out for fast gains. I also picked entry points off pull backs way too high off support (chased) and shaken out of trades I shouldn’t have been.
My goal for the month of July is the same as last month—make a profit of any amount. To do this I need to cut losses much faster, not trade anything after hours (if I missed it I missed it) and avoid buying anything in the mornings other than panic dip buys. I need to stick to buys close to support off the channel from intraday for afternoons. And take profits at all cost.
Two months in and I am down $2500 but I’m happy with my progress. Taking a lot to hold myself accountable and post my nasty losses. But this is a marathon and not a sprint.
Tomorrow is a new day and here is to July 2020!