Janurary Monthly

 Starting the year off strong. Did tons of stat work to get a much cleaner picture of what my performance is like.

I ran into an issue a couple of days in though, A problem I have had for some time. I have my OG entry trades, then my momentum adds.

When I record my stats, I label it as 1 complete trade with averages. I do not separate.

I took a loss on my momentum adds, but a win on my OG. When I go to put in MFE and MAE, the numbers arent right. I was not up 500$ at max because I did not have max size on still.

I emailed Bella about it, he said to record them as separate adds. My OG and Momentum. Not just 1 Trade.

So that means more work and more stats adjustment. And I mean a lot. I thought I had done a lot over the new years weekend, but this mean separating everything up, and then splitting performance results into OG and MOMO. 

Also ran into issue of OG specific situations. There are times where I hold OG through pb and add to it if it holds again. That doesnt mean an entire new trade, that just means I added to OG, more than likely reduced risk.

But it is also a new in price, new MAE, new risk level. So for now I think its best to keep them as 2 separate trades until I figure this new method out.

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Split trades up into individual entries

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+2R on OG = start taking on micro pb?

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When should I be out half of my trade? All of it?

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Prev day candle size. Inside outside 

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ABC Reset

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I ran out of time this month. Henry came a month early. Getting to sit and trade is difficult let alone time to review. Finding new routine is priority so I am able to do the necessary work. 

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Though with the time I do have, ill get done what I can

Theres one day left in jan but for times sake im going to pretend the month is over.

It is so hard to sit here and focus on trading. Little guy is in my lap right now as I type this out and its tough to focus on this. I need to develop some XYZ system so I can sit down and do what I need to do asap without having to think about what I need to do. 

I think about my old old reviews and questions I used to ask myself.

1st Week

1st week made money everyday. Nothing huge other than 1 AMZN trade that I wasnt able to add to. Too fast. 

Usually just 1 or 2 names a day. Cutting quick when not acting right, letting it go when it is. Keeping a small win rather than force hold it for maybe more. I know my place. 

Couple issues not taking trades. Missed some big wins because not in the zone at the time to pull the trigger. 

2nd Week

Lost 4 days straight. What went wrong. 

Market for one in chop territory after failed ATH breaks. Sentiment getting mixed so not clear market. 

1st 2 days not much to do. Bad risk on WMT trade. SPLK not worth spread, eliminated. 

LVS Not the best intraday setups risk was small overall until last momo add that I got smacked on. Just a bit far from vwap, not super clean clear action. Wasnt worth it. 

3 days in im losing all 3 now im getting frustrated.

TGT next didnt give me much either. Just enough to suck me into momo adds, just to rip back on me. One of those losses its fine but again frustration led to sizing up and taking larger losses. Entry and adds were fine.

Finally got bailed out on friday with huge WMT and ATVI win that covered all my losses on the week. Just gotta be there for 1. Taking profits still incorrect, I cant follow my rules.

3rd/4th Week

Too much going on for clear headed trading. Risk was main issue. Too large for what Im trading and where im tradig it at. More losses on hotel names weirdly enough. They do not trade the same. Tried to force to much and they are lower volume. I dont want to eliminate these names as I know in past they have done well. But I need to be careful what im doing on them. 

Numbers

+$459

+13TradeR

+4.6R$

60% Compliance

60% A Grade Trades

26/63 42% WR

13 Full -1R Losses 21%

Im being critical of myself. I definitely recognize my mistakes after the fact. Its before I make them that is the worst thing here.

Compliance

Biggest mistake was settling for less intraday. Trading names NOT around/holding levels I want to see hold. Too early.

Others were risking too large and taking profits too soon again.

Not a super common theme here, more like a small mistake here, small one there. But since I am recording all my entries instead of 1 average trade, 1 mistake can ruin the whole trade and I end up with 4 compliance errors on 1 name. 

Taking profits early is still the mistake that hurts me the most because it prevents larger winners, but it only happened twice this month on 11 winning names. 

Several small errors spread throughout the month.

What went best this month?

I felt focused when I was trading. My selection keeps getting better, I still have an occsaional slip up but its rare. I eliminate any stock I trade that doesnt have the volume or spread I want to see. Out of sight out of mind. 

Rarely did I have 8 stocks on watch on any given day. I am good at saying F it and passing on a 'meh' setup. 

Overall im seeing the setups much better again, just need to be in them is what needs the work. Im there ready and watching the right things. 

What went worst?

Hotel names. They do trade differently. 

Taking profits on big wins too fast. 

Larger than anticipated risk on initial entries.

GOALS

-Get better with routine with Henry

-Revisit Yearly questions see if new answers

-Conscious of risk always. 

-Follow profit taking rules. They are written next to me and I need to be aware of them at all times. 

Big 2 are risk and management. Selection overall is good both intraday and watchlist creation. 

Flat out. Hard month to stay focused. I need to spend February finding solid routine and get back in the groove. I cant spend much time dwelling on this month as it was obvioulsy a huge month outside of trading. Onto the next one.