Monthly Trading Performance Reports
For January I placed 7 trades, out of those 7 trades I was green on 5 of them. One of those green trades was only $1.93 profit. For the most part my trades were small gains, i had a $80.65 profit which was alright (6.51%) but the best trade by far was my last trade on 1/29/19 on $OCX ($184 Profit 23.94%). What made this trade work was a combination of experience, patience, and using small size. I think something that has helped me is screen recording the market open and whenever i feel like/interested in taking a trade. I do this so i can look back at what i was looking at, understand why I’m looking at it, and understand why I did or did not take a trade.
I think overall i have been very good at ignoring stocks that are not ideal or showing a pattern i’m familiar with. I think the number one thing i have to work on is Patience With My Exits. I think overall I have gotten a lot better with my entries although on1/17/19 I tried to dip buy a morning spiker having a pullback and i was too eager to get in on a pullback from a little spike after the stock had gone up over 70% premarket and it had done my Premarket Low Float Support Buy set up and i had missed it, so i think that had to do with my eagerness to get in on the stock after it had a pullback. If i had waited for the stock to bottom while pulling back instead of me jumping in as soon as it started to pullback then i would’ve had a better entry and i would’ve been able to sell into the immediate bounce back towards 3 (i bought at 2.72 and sold at 2.61 then it bottomed at like 2.53. If i had been a little more patient then i could’ve bought around the time that i sold.
I think overall that my plans for stocks that im looking to trade in the morning are pretty good when it comes to what i want to happen, sometimes it doesn’t do what i want and i mean i’ll never be 100%, but sometimes it will do what i want it to do and i wont be apart of it, whether thats because i am too scared or wasn’t watching at the right time, or i just didn’t see it playing out like how i thought it would then it’ll do a form of what i wanted and i won’t be prepared for it. Also I’d like to add that I am very good at cutting losses quickly so even when I mess up/ a trade goes against me, I never lose too much money, i feel like before i was okay at it but sometimes I let my losers go too far, I have definetly gotten better at that too.
I think i have a pretty good mindset but i think i need to take trades a little more often, but only when my brain is telling me that i should be buying, because there is a lot of times that i predict something is gonna happen and/or i have a order ready to place but i never place it because of my lack of conviction/confidence, this leads me to miss some solid plays.
I think overall if i just keep sticking to the plays that look ideal to me and i start placing the trades that i am too scared to get in and i continue to work on my patience with sells then I will be consistently profitable. I have already been profitable the past two months for the first time ever (December(+$99.55) and January (+$226.91)
I just want to put that I just made this for myself and had absolutely no plan on posting this until right now, it's kind of a impulse post LOL, i just copied and pasted it here, it's something I'm gonna do every month. I just posted this because why not? I feel like this might have no value to the majority of people but maybe it will help at least one person. Let me know if you actually read this and if it helps you or not! :)