Profit/Loss:
Down $315 give or take $30 on the year
Thoughts:
This year was quite the ride. I definitely have reached new levels in terms of my knowledge and skill as a trader, but still have many flaws to work on that revolve more around sizing, scaling and risk management. To be honest in the summer when i started to become profitable and saw my PnL curve begin to look like the start of a parabolic, i thought this would be the year that i reach overall green. Boy was i wrong. There is no one to blame but myself but im not going to be ignorant about legitimate technical reasons. As we entered a bear market shares to short became very scarce and i simply could not make any trades for much of the time. I will be addressing this in the new year by opening up an account w/ a better broker as soon as i can, and in the mean time experiment with other strategies. Also because of the change in the market i was fairly slow to adapt to new market conditions, i have since become much more flexible and am much quicker to find new setups and implement them. My biggest broad issue is perfectionism. I am far to focused on calling tops and bottoms instead of playing trends. I am far too focused on round risk reward numbers and round position sizes. I am far too focused on perfect looking charts and perfect setups. I was also far too focused on the numbers and percentages of performance. I have been working on that more and more and find it liberating. The last major issue of mine is simple. I need to stop being a pussy. Lack of confidence in my trades and setups has been a huge roadblock. There are many reasons for it, and to be honest its not simple, it can get very complicated, but i will not get into it with detail. Doing things like not checking my PnL till after the morning session has helped, and taking starter and "feeler" positions has also helped tremendously. As i have mentioned before the $dollar loss is not bad at all. In the real world thats nothing, i am strictly focused on performance, and will remain trading small positions until i have legitimate reason to increase size, and will do so incrementally.
Lessons:
- Be quicker to adapt to changing market conditions
- Perfectionism will create much struggle when trying to grow an account
- Manage your confidence
Hope everyone had a great year. I struggled, but that comes with the territory. Here's to another year!
- T
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