January 2023 Review

20 days of trading, two red and 18 green days. One of the red days was way too large taking all the profits for the month and then some. Could have been a bit more aggressive on size on some of the green days, working on when to size into trades and trusting my gut sizing into a few trades with bigger size in February. Roughly half the trading days were over traded, would like to reduce that number to a ¼ of the days or less in February.

Another positive month, with a gross profit of 1,665.79. Solid month but could have been a real good month. There is a lot of room for improvement, I did have 39k of total winnings for the month. Will need to find ways to retain more of these profits 25% to 50%

Realization: Often have a daily goal in back of mind of what I would like to make for the day, week and month. This can be hindering because I get into more trades to reach a goal numbers. Better strike on good days and under trade on the more difficult days. I believe this will average out to more gains averaged out and less wasted mental capital.

Results:

Winning trades 54%

Losing trades are waited too high because breakeven trades of a few cents are calculated as losses.

Trade duration has increased to win 1 min and loss 47 seconds. This seems to be a double edged sward, holding trades can result in larger wins, but holding too long can result in breakeven or even small loss trades. I found myself with the latter. If I come out break even and cut out a bit earlier I can reduce winners turning into losers, but also working on trade duration for the larger gains. This is important for future growth and development.