Goals: September 2023 - Searching and Scanning

I believe for this market ( SPY 0.00%↑ ) we either could be coming out of a slowly declining trend or continue on with choppiness this month. Not a very eventful August but hopefully September we will see some action.

Key Areas to Focus on this Month:

1. Historical Database Creation

   1. I have been working on this for a while but never flushed out certain ideas or measured certain factors of the breakout setup from historical charts so this month will be the main focus

   

2. Adapting my Perspective:

   1. One thing I have been doing more and need to continue to do is focus not on the absolute value of each trade or loss but really just focus on the percentage increases and decreases. As I gain more confidence, I will be adding external capital to my account and when that happens, if I can think of gains/loss/risk on a percentage basis, this will help me when it comes to keeping emotions in check.

3. Looking for other Trading Ideas:

   1. When the market has times of decline or choppiness, breakout setups generally don’t work. I believe I need to expand to include one more setup that is uncorrelated in order to smooth out my equity curve while still generating profits. Option selling for income could be a possibility, further research and backtesting needs to be done here.

Past Month’s Accomplishments:

The positive with my August performance was although I had a negative month (~ -1%) I was able to keep the majority of my profits from the past two months and only traded small-cap stocks on the breakouts that I did trade.

I went through all of Kristian Qullamaggie’s streams and made notes to better understand his methodology and tried to implement them into my own trading. I am posting my notes to each stream on my Twitter account. Over time I will be doing this with other famous traders.

On to Septemeber!

- F4VS