So, I just did a short analysis of my trades in January-February to date. Good lessons in total I think. I need to stand down on 1 particular setup that has been popping up a lot since the beginning of the year. I have some rules, but until early January I wasn't even trying to trade them...then I thought I'd figured out the pattern...I still think I'm onto something, but it's definitely less refined than for other days, yet that's the day type that has been hurting me the most over the last 2 months - responsible for most of my losses. There was also a day type that came up Dec. 30 (wasn't trading between Christmas and new years) that has come up 3 times since, and those are the only ones of their type. I think I have a pattern, but it's brand new so need to do half size or skip. A few days that I knew were lower odds thrown into the mix and a few days that fit into their statistical off days, and that's pretty ugly to look at...
But the take away I think is stop trading days you know are lower odds (duh), focus on the bread and butter. My issue is that if bread and butter isn't working (and 2 days didn't), then I just kind of panic about not making money that month. But going for the choppier days obviously isn't helping. There are 2 day types I thought I'd figured out but was skipping after I realized they tended to be unprofitable in October. One I think I have broken the code and have made money on it since the new year; the other, well, it's the one that's responsible for most of my losses so it's time to put that one on ice - track it, but stop. I don't have to trade every day to make money. My P/L demonstrates I'm better off skipping certain days!!
But the take away I think is stop trading days you know are lower odds (duh), focus on the bread and butter. My issue is that if bread and butter isn't working (and 2 days didn't), then I just kind of panic about not making money that month. But going for the choppier days obviously isn't helping. There are 2 day types I thought I'd figured out but was skipping after I realized they tended to be unprofitable in October. One I think I have broken the code and have made money on it since the new year; the other, well, it's the one that's responsible for most of my losses so it's time to put that one on ice - track it, but stop. I don't have to trade every day to make money. My P/L demonstrates I'm better off skipping certain days!!