Performance: June 2023 - New "Beginnings"
June Review Summary:
I need to focus on the technicals and the setup more. As well as the trend the stock is trading in. The news, hype, and trend surrounding the stock are what caused huge moves in my main winners for this month so it follows, do more of what works.
I need to review my trades more. Go back and assess what I did right and wrong. Maybe when I have more data/trades I can compile more useful metrics to really assess performance!
I forgot to include a benchmark comparison, which I will do for the next month and onward as absolute return metrics can be pretty useless depending on what you are looking at.
I have been using tighter stop losses after I initially enter a trade and trail my stop losses as soon as the trade goes my way in order to reduce my risk quickly. And if it triggers my stop loss and I have conviction in the setup, then I can enter again! I do this only for the first 30 minutes upon entry.
I had a bit of hesitation with entering positions depending on the size of the risk. I think more time and experience will alleviate this.
Stats from Broker:
The "Ending" value is using my open positions' unrealized P/L to generate this number. As my Personal Trade Log provides an ending value after all positions within the month of June are closed.
Mainly it is due to MARA, where I entered my position on June 20th and closed on July 18th.
Performance graph below shows my NAV and Account Return % each day for the month of June.
Personal Trade Log Stats:
Had a healthy monthly return in June
My win rate (%) was incredibly low at 25% but because of how I am only risking a small amount of capital to make 5-10x, that is why I am profitable
My average win in dollars is $213 compared to my average loss of $31. Therefore I would need to lose 7 times to break even on average within the month of June.
Big Winners:
When initially starting in 2022 when the markets were relatively choppy, I had a slow and steady drawdown in capital and was a little put off by trading or at least didn't know if the strategy is viable. I think this trade just shows the power of the system as long as you are able to trade in a (1) strong general market and (2) use progressive exposure when things are going against you or with you.
Had a moderate win on Carnival Corp. I was expecting a larger win but it was pretty sizable for the amount of exposure.
Context:
A year ago, I actively started to swing trade.
Got sidetracked on other projects and stopped after the first 2 months.
After committing to actively trading again, I am setting goals, expectations, and reviews to ensure further progress in order to learn more about the markets and eventually be sustainable as a retail trader
I will be tracking and reviewing my monthly performance
Note, on July 2022, I used $6,500 CAD as my initial capital which was converted to ~$4,852 USD
After stopping in mid-September 2022, my balance was $4,663.30
For Reference:
"Market Data" fees to this day have totaled $131 and will be retroactively subtracted from the initial capital of $4,983, which equates to ~$4,852 USD
USD will be the default currency notation going forward
Performance will be tracked from the Interactive Brokers "PortfolioAnalysis" as well as my own Trade Log Tracker that I created.
Metrics that are used will be specific to breakout strategies until other strategies or systems are implemented into my trading
More metrics will be added while others may be removed, as the purpose of the metrics will always be to improve for the next month