"I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up.  I do nothing in the meantime" - Jim Rogers

I typically do my monthly review in a nice big journal my wife bought for me.  It is perfect as I will be able to bring it with me when as we start to travel the world using the millions I will make in the stock market.  For now I am a bit away from those millions so I will save the paper and incorporate profitly on my monthly reviews.

By the Numbers:  July is interesting as it ended up being a little better then I originally thought.  I ended winning 40.91% of my trades, which is more then a 6% improvement on June and I cut my net loss by 61%.  I also traded a little less, but I think mainly because of a slow week 4. The past months I had been able to pinpoint a majority of my losses to a period of time where I was frustrated or dealing with FOMO.   This month instead I notice a period of confidence and even a good week that was likely the difference between this month and the previous.

Journal Review:  Reviewing my journals  I found that I still had a couple of trades where I was chasing, letting frustration get to me and trading stocks that should have been nowhere on my radar, but the most consistent issue I found is that I am holding my losers for too long and getting scared out of my winners too early.  Trading truly is counter intuitive and that needs to be somewhere in the forefront of my thoughts.   I believe getting the most of my winners is something that will come with the confidence that results from experience.  

August Attack Plan: My main concentration for the month of August will be to raise my win percentage, cut losses quickly and better entries (which I think will help with my losses as well as holding my winners).  I often buy the breakout and that breakout becomes a top or my entry is further from support then I am comfortable with.  After a breakout support is typically tested and that is where I will enter the trade going forward.  If I miss an entry I will not chase as another opportunity is around the corner.    I am going to also begin logging my hours.  I want to make sure I am putting in AT LEAST 8 hours a day Monday - Thursday, 4 hours on Friday and 2-4 hours both Saturday and Sunday.  At some point I will begin to paper trade shorting on excel in order to gather data to possibly go live in September. 

August Concentration/Reminders

*Cut losses quickly

*Trade only the best set ups

*Trade with 2 plans (Conservative and Aggressive)

*Always know your R/R

*Wait for the breakout to prove itself

*Let the pattern come to you

*S/R is an area and NOT a specific price

*Trading is counter intuitive

*Trade to trade well