-61 Net
Another bad day. I was chopped up quickly.
March Review:
March was a rough month for me. It was really split into two parts. The first half was just absolutely horrible. I had to take a break. After a few days off, I was able to recover much of my losses before having a tough last day of the month. I had been doing well through January and most of February. My troubles really started around the last week of February. The things I was doing that were successful just flat out stopped working. I had about a three week drawdown before taking a break to study what was going on.
For the way I was trading, things became very choppy. Many of the trades that I would normally sit on and ride out for more profits were just coming back. I was adding to winners that would come back and become losers. I made an adjustment to become a bit more conservative. I began taking small wins and not giving my winners as much room to pull back on me. The adjustments appeared to help greatly. For the first half of March, I had a 20% win percentage with a 1.40 W/L ratio resulting in a loss of $464. For the second half of March (after the adjustments), I had a 45% win percentage with a 2.54 W/L ratio netting $318.
Unfortunately, I was not able to pull out a positive month, but I'm happy that I was able to hang in there and stage a comeback after being beaten down. Once again, I feel that being very strict about limiting my losses helped me through this rough patch. I may not know how to win so well yet, but I feel I'm pretty good at knowing how to lose. And I mean that in a good way. I was able to keep any one trade or day from destroying me or making recovery too difficult. I did lose in March, but it is definitely an amount that I consider manageable as compared to the way I trade.
March:
P/L: -145.41 Net
Win%: 31.30
AvgW/AvgL: 1.88
Looking forward, I have gained a little bit more confidence knowing that I have survived another rough patch and was able to bounce back. Three weeks of losing almost everyday is a difficult psychological obstacle. Making it through another tough time lets me know that if I hang in there I'll get to where I want to be. Of course, I'm sort of back to one of the big questions. Take a lot of small wins with a higher win percentage or take bigger wins with most likely a lower win percentage. My seven day win streak in the second half of March opened my eyes a little bit as to taking smaller wins, but I still want to be adding to winners and going for some big wins as well. This month I'll be doing a combination of the two. When I'm up on a day or trade, I will most likely be more aggressive. If I have some of the house's money, I'll be more likely to press it.
Another bad day. I was chopped up quickly.
March Review:
March was a rough month for me. It was really split into two parts. The first half was just absolutely horrible. I had to take a break. After a few days off, I was able to recover much of my losses before having a tough last day of the month. I had been doing well through January and most of February. My troubles really started around the last week of February. The things I was doing that were successful just flat out stopped working. I had about a three week drawdown before taking a break to study what was going on.
For the way I was trading, things became very choppy. Many of the trades that I would normally sit on and ride out for more profits were just coming back. I was adding to winners that would come back and become losers. I made an adjustment to become a bit more conservative. I began taking small wins and not giving my winners as much room to pull back on me. The adjustments appeared to help greatly. For the first half of March, I had a 20% win percentage with a 1.40 W/L ratio resulting in a loss of $464. For the second half of March (after the adjustments), I had a 45% win percentage with a 2.54 W/L ratio netting $318.
Unfortunately, I was not able to pull out a positive month, but I'm happy that I was able to hang in there and stage a comeback after being beaten down. Once again, I feel that being very strict about limiting my losses helped me through this rough patch. I may not know how to win so well yet, but I feel I'm pretty good at knowing how to lose. And I mean that in a good way. I was able to keep any one trade or day from destroying me or making recovery too difficult. I did lose in March, but it is definitely an amount that I consider manageable as compared to the way I trade.
March:
P/L: -145.41 Net
Win%: 31.30
AvgW/AvgL: 1.88
Looking forward, I have gained a little bit more confidence knowing that I have survived another rough patch and was able to bounce back. Three weeks of losing almost everyday is a difficult psychological obstacle. Making it through another tough time lets me know that if I hang in there I'll get to where I want to be. Of course, I'm sort of back to one of the big questions. Take a lot of small wins with a higher win percentage or take bigger wins with most likely a lower win percentage. My seven day win streak in the second half of March opened my eyes a little bit as to taking smaller wins, but I still want to be adding to winners and going for some big wins as well. This month I'll be doing a combination of the two. When I'm up on a day or trade, I will most likely be more aggressive. If I have some of the house's money, I'll be more likely to press it.