Stockguy22 Trading Results for 2011 to date & past 6 months
so I made enough in the past 6 months of Trading Stocks to buy this Lamborghin-Gallardo:
Do I buy it?
Thought to share what has helped me the past 6 months & how I go about analyzing my trades month to month.
I tried to break it down since we started the group as a premium site back in November: The totals below do not include commissions/taxes/fees or dividend plays which I do from separate accounts but don't post in chat room – Also does not include longer term plays and Retirement Protected trades or what my wife will take as her share once she reads this blog.. She's worth it but hope I'm left with enough for a few nice dinners.
I constantly review my trades Weekly & Monthly – What i started to notice in December /January was that I was selling too soon on my swing positions – so in Feb /March I became a bit more aggressive in my buys & scaling out of positions closer to my initial target.
That helped me improve my total profits on Feb & March 2011. I still sold soon but translated to more profits.
I didn't expect as much profit into April 2011 but turned out to be my best month of the year. Not as much as last November $66k+ but quite nice anyway.
My average daily profits worked out to be just over $2,600 profit in April and averaged daily profits over the past 6 months was just over $2,100 per day. ( Not a bad paycheck)
I'll post the individual %'s for each month as I add to this post :
The main thing I want you to understand from this is NOT how much I made but to try and have consistency in your trading. As you can see it was pretty consistant over the past 6 months. In 2009 I had a much better stellar year and my average profits were much higher then late 2010 & 2011 but….
1) It was a different trading market
2) I was more aggressive trader in 2009
3) Had more longer term swing trades from Spring to October that were incredible %'s and $ amounts.
4) I have had a few distractions of other business investments outside of trading the past year.
5) I had more swing, intraday & option trades working for me
6) ) I was distracted with a chat room ( so that may have hurt me a bit actually on trading profits since I probably am a bit more conservative since don't do as many aggressive trades as I did in 2009 , just being honest)
Some other important points I want you to try and learn from this post today is :
1) review your trades,
2)know what your average position will be so no one position will ever be too much or too little of your overall trading profits for any given month. Its ok to get lucky and have bigger % then you expected but spread your risk out (NEVER INTO 1 POSITION like we've seen on twitter with some traders banking on 1 stock )
3) Don't worry about the $ amounts.. Concentrate more on percentages , the money will follow regardless of the size of your account.
4) Analyze your trades and charts to see how you could have reduced a loss or maximized a gain in the previous week or month. Then apply that going forward also are your strategies still working? – If you were buying breakouts and now they are not happening as frequently how did you adjust to that fact? This is where traders become complacent and don't try new trading styles/techniques. They keep doing what they are comfortable with. If its working for you great!!, but if it stops working get the help of a more experienced trader or try to follow someone who is doing well.
5) know what your strengths and weaknesses are and work on them constantly. Example if your strength is buying stocks into support but you give up too much profit by selling too soon , then scale out of positions instead of selling them all in one shot. If you are letting too many losing positions drop below your initial stop then start putting hard stops in place or scale out of positions at those key breakdown points. This is something that you will continuously work on in trading and you can get better at it but I find that I am always trying to fine tune my trading strategies & techniques.
6) Only enter trades with high risk/reward setups – Forget the news, hype or excitement on a stock. If you find you are trading just on emotion and excitement and its not working for you, then stop , re-evaluate and take your time. The market is not going anywhere. The key thing you should remember is to survive and protecting your bankroll. If you find you aren't analyzing a trade properly before you take the trade on then don't do it. There will be another stock the next day , week or month.
I'll be adding the individual trades to this blog with the %'s , so come back to it- I'll repost on twitter when its done. There was a lot to just cut/paste into the blog.
Reminder we are having a mentoring webinar tonight –
Why Have a Trading Mentor ? 1 on 1 coaching with @stockguy22 Tonight 6pmEST Register http://bit.ly/m4plik
ADDITION April 28th 11pmEST : IF YOU MISSED THE WEBINAR IT WAS TAPED & WILL BE POSTED ON TWITTER & HERE LATER
Missed the Mentoring Webinar tonight ? 44 minutes http://bit.ly/lo4goK
All the Best in your Trading Path & hope you find a stack of cash in the Markets –