Tuesday, January 30, 2018

Performance for week of 1/22, reflections and goals for February

Week performance: +$5.7k 

1. Just paid the monthly interest on all of my hard-to-borrow short positions -- ouch.  Death by a thousand cuts.  Reviewing the month's trades, my swing shorts aren't even that profitable.  I just take them as an excuse to apply my chart reading skills and to feel less guilty about the easier and more profitable trades.  Will cut these trades out completely, or at least in February.  
2. My biggest losses (eg $GALT) have come from being too early, but patience has also been one of my greatest strengths, and why my win rate is so high -- about 80%.  Though win rate in the end is meaningless.  It's how much you make when you're right and how little you lose when you're wrong that counts.  A major February goal to avoid big losses from being too early.  
3. It goes without saying but I'll say it anyways because we all need constant reminding: don't over trade, don't over trade, don't over trade.  I have five or six patterns I trade again and again but I will cut that number down to two or three in February.  Experimenting and refining my strategy is over, at least for now.