Friday, August 20, 2010

AUG OPEX Trading Results

This month's negatives are that I made one mistake that cost me $35, and was impatient and deviated from another trade for no apparent reason other than I was skittish that day. But I also ended up overall positive this month instead of negative because I didn't panic and close out my trades when the market moved against me, which is something I've done in the past. So, psychological victory along with monetary victory is good. I attribute the ability to sit on losing trades without panic to a combination of small position size, defined risk, and conviction in my initial trade ideas. Last month I felt I over traded and ended up losing money. This month I was really hands off and ended up doing well given the amount of risk taken. $1666 doesn't pay the bills, but I'm building towards a long-term goal which is to get consistent and confident, which will allow me to scale my plays up to a point where trading profits will cover the bills.

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