This was the worst week for the overall stock market in the last two years. It also turned out to be my best week ever, with $5,300 profits. This was an ideal outcome for me, as I still have some friends who are attributing my recent success to the overall bull market. So this is a small validation that I may actually be developing some skill at this, and that it isn't just luck. This is also my 11th straight green week. Before this turnaround in my profits, I never even had two back-to-back green weeks.
I have gone from being down minus $16k in my first six months while I was learning, to being up $17.5k total profits after finding and focusing on my strengths. This turnaround happened faster than I ever imagined it could. From my low point when I was left with just $8k in my account, I have profited $33k in just 11 calendar weeks (with a week worth of market holidays in that timespan). That is 414% account growth in that time period. Year to date I have made $17.5k, a 79% gain from my account size at the beginning of this year.
Here is my current profit chart:
I averaged $836 per trading day in January, slightly better than the $717 per day I averaged in December. This feels pretty amazing to reach this level so quickly after finding consistency.
Here is my daily profit chart for the month of January:
Not all green days, but right about the same percentage as my overall stats are for winning trades while playing my preferred setups.
Biggest lesson learned this week. Be patient and wait for the trades to come to you. As Tim frequently reminds us, sometimes the best trade is no trade. This was a really slow week overall, but there were a few good plays here and there and I was able to really capitalize on them.