Looked at trades for the last 3 months
Overall no profit the last 3 months, not a massive draw down but just a small bleed of a few dollars a trade on average and something I want to change.
Stock selection
This has changed a few times and what works is obvious in hindsight. A stock that is either in demand or being beaten up.
Stocks are coming from SMB, SMB radar and TradeStation scans for Gap up and gap downs.
Need to keep at this and not get lazy - its ok not to trade if there are no trades.
I am looking to get around 3 patterns right before I move to more difficult stocks
Stops
A lot of trades are getting stopped out by less than 5 cents and to the cent as well.
These are trades that then turn around and work.
Need to place stops below critical levels and adjust position size to match
Time of day
I have slipped into the habit of being up for the first hour to two hours and then getting up later for the last hour or two of the day
Most of the best trades are in the morning and it would be better to stay up till near mid-day US time
This will make it harder to get rested so might cut back on one day a week if I have to much on at work and find myself getting to tired. Health first always
Trade management
I get out too early
I move stops up
I dont put in limit sells for when I am not at the screens
Need to fix all three issues
I have also removed all profit and loss information form the screens and find this a lot better. I am now focused on the trades and not the green and red numbers flashing in my face.
Overall very frustrated with trading but a lot of small issues that can be worked on and anyone of these will make an improvements to my trading
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