-68 net
It was another sad day for me. I'm definitely going through a rough patch. Things were going well early on and then I just got killed after the first couple hours.
June Review:
In June, I implemented my new trading strategy. After losing five of the first six days, I was able to recover and then win nine of the next 11 days. Unfortunately, I took a slide at the end of the month and finished with three losing days in a row. The month was still good as I felt much more in control. I used a defined set of trading rules and keyed in on more specific setups rather than trying everything I saw, as I was doing the prior couple of months.
Although I have rules and defined setups, I still do have to make decisions on the stocks I choose to take trades on and whether or not to take the trade based on what the market is doing. This is where I am still sifting through data. I am constantly studying charts in order to determine which ones of my setups are more likely to win most often and/or offer the highest rewards.
I feel that as the months went on, I may have slightly drifted away from the more specific setups I was taking during my testing of my strategy. I was feeling quite confident last week, but am now licking my wounds after four losing days in a row. There is still much work for me to do on my trading system. I will continue to trade my system and follow my rules in July. In addition, I may add on one more strategy that I have been testing.
June 2014:
P/L: +$263.81
Win%: 35.86
AvgW/AvgL: 2.11
My win percentage still isn't great. I'd love to have it at 40% or a little higher. It's still great considering my win percentage was 19.51% last month. I did a good job of keeping my losses small with a 2.11 average winner to loser ratio. Unfortunately, my numbers dropped in the last few days of the month as I lost and lost.
