+124 net
I would have liked a little bit more based on the move in the market, but it was still good day.
Jan Review:
January was a very streaky month for me. It was full of good and bad runs. I had a number of max loss days and also had my new best winning day of $294. I also had a few very large winning trades. Also, I am again proud to say I never once went over my max loss per day.
I began to try to add to my winning trades, but got very distracted by my nemesis: overtrading. Fortunately, I was able to get a statistical look into my overtrading. As I have mentioned before, I have pre-planned trades researched the night before and then trades I find during the trading session. For months, I've been gathering data on my pre-planned trades. Once again, if I had only take my pre-planned trades I would have had such a phenomenal month. Unfortunately, I don't take all of my pre-planned trades and also take many various other trades I find during the day. Of the pre-planned trades I took this month, they had a net profit of $572. Of the non pre-planned trades I took this month they had a net loss of around $387. Further analyzing those non pre-planned trades, I was able to see that one particular setup accounted for around $300 of those losses - A trade setup that occurs frequently and one that my overtrading monster couldn't resist. Now that I have seen the numbers and stats, I feel that I can drastically cutback on my overtrading. That one particular setup has been a thorn in my side for so long. I am ready to leave it behind.
Jan 2014
P/L: +$185.42 Net
Win%: 32.61%
AvgW/AvgL: 2.37
I did a decent job of keeping my winners larger than my losers, but my winning percentage sucked again.
Looking forward to February, spirits are high and I am very excited to see the results of this month. I feel I can really improve the overall quality of my trade selection by leaving that one horrible setup behind. Also, I am much better seeing the importance of adding to my winners and how with the way that I trade, it is crucial to success. This month I am committed to making adding to my winners a habit. I am committed to being willing to sacrificing small winners in order to get the big winners. I am committed to taking the trades I plan and letting my trades play out according to plan. I will plan the trade and trade the plan.
I would have liked a little bit more based on the move in the market, but it was still good day.
Jan Review:
January was a very streaky month for me. It was full of good and bad runs. I had a number of max loss days and also had my new best winning day of $294. I also had a few very large winning trades. Also, I am again proud to say I never once went over my max loss per day.
I began to try to add to my winning trades, but got very distracted by my nemesis: overtrading. Fortunately, I was able to get a statistical look into my overtrading. As I have mentioned before, I have pre-planned trades researched the night before and then trades I find during the trading session. For months, I've been gathering data on my pre-planned trades. Once again, if I had only take my pre-planned trades I would have had such a phenomenal month. Unfortunately, I don't take all of my pre-planned trades and also take many various other trades I find during the day. Of the pre-planned trades I took this month, they had a net profit of $572. Of the non pre-planned trades I took this month they had a net loss of around $387. Further analyzing those non pre-planned trades, I was able to see that one particular setup accounted for around $300 of those losses - A trade setup that occurs frequently and one that my overtrading monster couldn't resist. Now that I have seen the numbers and stats, I feel that I can drastically cutback on my overtrading. That one particular setup has been a thorn in my side for so long. I am ready to leave it behind.
Jan 2014
P/L: +$185.42 Net
Win%: 32.61%
AvgW/AvgL: 2.37
I did a decent job of keeping my winners larger than my losers, but my winning percentage sucked again.
Looking forward to February, spirits are high and I am very excited to see the results of this month. I feel I can really improve the overall quality of my trade selection by leaving that one horrible setup behind. Also, I am much better seeing the importance of adding to my winners and how with the way that I trade, it is crucial to success. This month I am committed to making adding to my winners a habit. I am committed to being willing to sacrificing small winners in order to get the big winners. I am committed to taking the trades I plan and letting my trades play out according to plan. I will plan the trade and trade the plan.
