Performance: Year 2022 - Blast from the Past
Context:
A year ago, I actively started to swing trade. To be honest, I didn't know much and I took pretty silly trades. On July 2022, I used $6,500 CAD as my initial capital which was converted to ~$4,852 USD. I got sidetracked on other projects and stopped after the first 2.5 months.
Performance from my first trade to the end of 2022.
Cumulative Performance:
2022 % Return = -6.19%
Time Period Performance:
July = -2.25%
August = -1.63%
September = -1.41%
*for the remaining months, market data fees were charged to my account
Metrics from my own tracker:
General Market Conditions During the 2.5 Months:
After stopping in mid-September 2022, my balance was $4,663.30. After this point no trade was made until June of this year.
I think this is really all the information or metrics that is needed as my start was not the best.
*Monthly reporting going forward will include further metrics!
Things I Did Right:
I was able to use progressive exposure and reduce my risk per trade as I knew I didn't have the experience and conviction to trade larger which helped to keep losses and drawdowns to a minimum.
Things I Did Wrong:
In July 2022, I was taking trades that did not match my setup. During July market conditions were good. This means I was not finding the right stocks to enter!
I should not have traded as much as I did in August as the overall market conditions for that month were subpar.
I was getting stopped on my entries very quickly. I should have taken a step back to analyze why I am entering a stock and if it really is in accordance with the setup
Not having proper conviction and understanding of the setup
Takeaways:
Progressive exposure in choppy markets is critical
Take breaks to review when needed
Always continue to learn from mistakes