Shared by
MarcoG
Huge signs of gap filling but as it is since last weeks this strategy doesn't work anymore. Not one of my trade gave me a clear, smooth easy move.
Finishing the month red I have lost 8$ in 20 trading days and 8$ just the day of yesterday for a total of -16$
I have been able to keep my losses really tight but I haven't been able to spot not one really nice trade through the entire month. While closing up prior targets granted me a survival mode up to January, it didn't work anymore as soon as red trades started to come across. This will result in being not profitable.
This month gave me a big point of reflection regarding my capacity to adapt to the general market scenario and to the particular daily scenario.
It's like I wanted the market to be in the way I would have liked and perhaps stubbornly or consciously I have stick to the rules. The lesson I have got is that my rules have to adapt to the market and price action presented. I didn't adapt, I have complained behind the screens how things were not going in my way. That is completely wrong. It's ok to admit that everybody was expecting a different earning season but the main point stays on adaptation!! I now understand why learning how to trade could take his time. In those days I could have entered in soo many opportunities that didn't respond to my attitude and strategy. This for me is a great result. I respect my parameters and I stick to it. Now is time to move on and try to adapt my parameters to different market conditions, but still respecting and not gambling. Through the entire month I could have chased, and enter much more times then I did but I am happy that I have tamed myself.
Cause the one that has to change it's me and not the price action, it's me not getting stubborn on a particular setup I have simply put down my PNL and Profit Factor.
Improving my Profit Factor from an actual of 0.93:1 (on 100 trades from 11/28/2018 till 01/31/2019 2 months trades) just keeping my 50% win rate it should start give me some good results!
Can't wait for other days ahead to trade!!!
I have so many points of improvement for the coming trades and I can't wait to have the opportunity to put them on practice. One of them besides the just spoken Profit Factor will be getting rid of hesitation. Hesitation usually is the result of a frustration, something imposed to us in our life, a sort of reaction to punishments and prohibition. I had a taught father I have to admit but lack of hesitation has never been an issue in my life. My problem is that I am so respectful towards my teachers, mentors referring point that I don't dare to assume that my attitude worth the try. As a result I try to adapt a bit of what I wanted to do according to what my gods of trade say. This leads in losses full filled with huge frustration!!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-01-31 11:06:14 | MA | sell | $210.420 | short |
| 2019-01-31 11:23:07 | MA | buy | $210.420 | 0 |
Comments
MarcoG
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Great Recap! Just stumbled upon this one. Seems like a summary as your other recaps are usually shorter lived.
I looked at some of your trades. As a suggestion for improvement on your recaps: Besides forcing yourself to review every single trade, which you seem to do, try to be a little bit more precise on every trade. Answer questions like: Why did you go long/short here? What were the signals/factors? Why did you exit where you took an exit? Describe what your thoughts were when/before you took the trade?
It takes time, I know, but it forces you to compare how your strategy is intended to be traded versus how you actually traded it. There is usually always something in a trade you actually did pretty good. Then focus on improving the parts you did not do good. One at a time.