Going to knock this out quick since I’m hanging out with a bunch of old friends that I haven’t seen in a while tonight and I know we’re going to act like were 18 and in college again so it wont be happening tomorrow. This month can be summed up as coming in from Q1 with around 65% accuracy on trades and dropping hard to around 35% in April. I can make excuses that the market was choppy and lots of daily macro risk, but it comes down to a few things that I need to make sure I keep an eye on in the coming summer months.
- I’ve been trading not to lose and then randomly striking hard in attempt to make up for lost ground. The jury is still out on if my defensive mindset was wise this month, but there were 2-3 clear opps that I should have taken more advantage of.
- There were a handful of days that after the bell rang I asked myself “wtf was I watching all day?!?!.” I think it subconsciously stemmed from my defensive mindset that I was keeping a few extremely volatile and choppy charts off my screens but after later review there were 1-2 really good setups they offered. I used to have a tendency to feel like I had to be trading every stock that was going wild and just having them up on my screens pulled me in. I’ll be thinking about this in more detail during my 5 hour drive back home tomorrow.
- The big mental problem is that I’ve been compounding my account and it’s currently at all time highs but I’m using less than 20% of equity on a daily basis. It’s staring at me saying “use me – let’s nail some big ones and ride off into the sunset!” There were times in the beginning of the year I was maxed out on size and I was praying money would fall from the sky so I could really press – but those opps just aren’t here for me right now so it’s an extreme test of patience.
All in all though, not a terrible month. I don’t look at my combined PnL for the month until the last day so I don’t do anything stupid, but I thought I was much further from my goals then I was. Sure, I wish I hit or exceeded my $ goals but as someone who nearly gave up on trading multiple times, being featured on ChatWithTraders and hearing from so many of y’all was one of the most rewarding experiences of my life. It’s back to business as usual on Monday and I’ve still got a long road ahead of me, but it’s a lot more fun not being a lone wolf trader anymore and looking forward to connecting with more of y’all.
Good luck traders and keep grinding!