August trading Recap and Goals for September

I am ending the month of August with a profit of $3,126-after commissions!  I had only 3 losing days.  This is a great achievement because it showed consistency in my trading.  Overall I am very proud of my performance this month.

The good this month:  I focused on entry and traded more conservatively.  This caused me to miss some trades but reduced my headache trades substantially.  For the second half of the month I did not step in front of any big parabolic moves.  I waited for a defined risk.  I was much more cautious on my adds buy trying to add only where I would get in the trade in the first place.  Probably the most important thing I did the second half of the month… I respected my stop loss targets and cut my losses when I was proven wrong on the trade.  I did not just add add add.  This resulted in me being able to make back the small losses on the starter positions where I stopped out—ending many days in the green that started red.

The bad this month:  I ignored my stop losses on two trades, OPTT and REN.  The latter ended in a huge loss that whipped out the entire first week of trading.  I paid dearly for this stubborn hold, but I learned my lesson for the second half of the month.

I think I am ready to increase my size for September.  I would like to go from 1000 to 3000 share positions to 2000-6000 share positions.  I feel I am ready for this due to two reasons.  My consistency has been really good for many months.  Second, I am willing to respect my max stop loss.  My new max stop loss will be $2000.




Leave a Reply

Your email address will not be published. Required fields are marked *