Just decided to do a quick post to ring in the new year as 2023 was an absolutely awesome year for me. 

Going to just run down the biggest changes I’ve made this year and the things I’ve noticed that have made the most noticeable changes to my profitability.

I spent several years of trading random setups. Eventually transitioning into trading better setups with real education, but trading every single setup I saw. My education was so broad that it was so easy to see setups everywhere, but things that weren’t A+ setups. My winrate was taking hits, I was taking smaller gains and bigger losses.

I was becoming a jack of all trades, master of none.

The first major change I made was narrowing my focus hugely. I had been journaling all my trades for years, using all that data, I focused in on only my highest winrate setups, sectors and tickers.

From there I began limiting the amount of day trades I would make:  even if I believed a setup was good; but if I had already made 4 trades for the day, I wouldn’t take the trade. I started limiting that even further, until I said I would only make ONE trade a day. This forced me to focus on only the absolute best setup each day. The more I did this the more I gained perspective on what really was the best trades to focus on. 

After forcing myself to stick to one trade, there became more and more times where there were days where I decided there was NO ideal setup. No setup that I would choose over other setups that I had already chosen not to trade on previous days. Instead of having small wins / losses on un ideal setups I just started sizing into my singular trades.

My winrate was skyrocketing, losses were minimized, risk reward on my setups was giving me conviction to stick to it even when wrong on the setups.

The other big change was spending some time swing trading, I think everyone should do it at some point, even if it isn’t large positions. But sticking to all the same principals but focusing on larger time frames, sticking to risk levels with wider risk/reward and letting the pattern play out. This has infinitely helped with my patience in day trades and letting my winners run and sticking to my risk with less emotion when wrong.

I don’t think there is much value in telling you the exact setups I focus on but if you want that kind of information you can message me, I think everyone will find their niche. I think the important thing is journaling as much as possible early on, using tiny size to learn what works for you and what doesn’t, then just focus on that. Everyone is different. Focus on what works for you, don’t try focus on what works for someone else if it doesn’t work for you.