What a month of trading. Today I really took a look at my trading for the month, because the last couple of weeks I was just not satisfied with my trading. What I found was interesting, when I pulled away and looked over the month, I traded extremely well each day especially in the last two weeks. I only had two days that I traded outside my edge in the middle of the month. This is definitively not the feelings I had each and every day. It was refreshing to say the least that overlooking the month, that I was sticking to my trade plan and managing my risk well.
Weekly Analysis of trading
I traded all 5 days this week, although I had a trading error on Thursday as I left my order setup in simulator from the night prior.
I took 2 out of 4 setups this week. Monday and Tuesday I hit my profit target and got through that difficult spot of having 3 losers in a row plus 3 trades outside my edge. I traded the third setup, but I was simulator without knowing it. The 4th setup I did not see as I was watching another stock on my watch list causing my to miss the entry.
The time I spent on the sample set has been worth it. It has assisted in identifying a couple areas I need to work on.
(1) Profit taking execution. My profit taking plan I believe is worth while, I am just not executing it as designed.
(2) When I do everything right and the stock goes against me, I am still getting frustrated. If I did something wrong, I have no issue with the stock going against me. I have to remind myself that stopping out is doing the right thing so do not get upset.
Weekly Overall Self Rating: Traded well all week
Daily Goal Hit – 5 of 5
Daily Max Loss – No longer tracking, monitoring just to ensure I don't go over
Goals for the month
1. Traded two times inside my sample set this week live. 1 time in simulator
2. Stick to your trading rules and focus on developing trading skills, maintaining self-discipline, and controlling my emotions while in the trade.
Risk Controls
1. Did not trigger Max Loss control.
2. I did not hit Max Shares traded in a day.
Trading Methodology
1. Did not change any of my trading or profit taking methodology.
Sample Set Results
P G S G S 6 7 8 S S P G G 14 15 16 17 18 19 20
P - 1:1 than Break-even
G - Hit Profit target
R - Stopped out
# - Trade outside my Edge