Today PNL: $2000 Also I'm running some swing position since beginning of the week which are not counted here
-8 gross Just one trade today. It did nothing. With the holiday weekend coming up, I'm done for the month.
+92.5 was down 140 in the am. Reviewing my data i usually am down in the first hour of trading and make my profits beginning in the second hour. Going to review my losers to see why i am losing in the first hour and how i can improve.
-94 gross I came into today way too anxious to trade. I should have laid off for a while with the big gap, but just went for it. Unfortunately, it didn't work out and I was chopped up. August Review: August was a month that was not too dissimilar to July for me. It was full of small fluctuations around break even day after day. I never really got anything going and things never really went too badly. Again, my weakness is overtrading. This is a shortcoming that I have been struggling to overcome for a long time. I feel that I always have to be in a trade. If I'm not in something then I search and search and dig and find any excuse to get into something. One thing I did in order to help with my affliction is to shorten my list of stocks. I used to search through hundreds of charts every night, but now just focus on around 15 stocks. That has helped a bit, but I still overtrade. August numbers: P/L: +63.22 net Win%: 29.03 AvgW/AvgL: 2.62 I was able to pullout a small profit despite my dismal win percentage of 29.03%. This is due to the fact that I kept my losses small and was able to get some good sized winners in comparison to my losses. Having average winners that were more than two and a half times the size of my losses really helped. Going forward, I would like to have my win percentage up a little higher than 40% and still maintain or even increase my average win to loss ratio. Around three would be great. To do this, I will apply the following ideas this month: 1. It may seem a bit counterintuitive, but I will actually be willing to take larger losses on each trade. Usually, I'm not so much a scalper as an intraday swing trader. I like to sit on things. Many times, I don't give things enough wiggle room and take small losses over and over only to see my trade eventually playout later in the day after I'm no longer in it. 2. Take less trades. This is a big one and will be affected in two ways. First, I need to just be more selective and trade less. Second, since I will be risking more on each trade that gives me less risk available for more trades, so I'll have to just sit and be patient. 3. I will not shy away from trades on more volatile stocks. I watch a lot of good movers, but I tend not to play them because of the higher risk. Now that I am bumping up my risk a little, I can take more plays of faster movers. Yes, I will have some bigger losses, but I should also get some much bigger winners when the trades work. I'm looking forward to a good September...even though today sucked.
+30 had a trade signal to get long ES but it did not fit my risk parameters. Even though it would have been a great trade profit wise, i am glad i kept to my rules. Looking back in hind sight i did get a second entry long signal. Still trying to improve my game everyday.