More than 8 years after I first traded, I am finally evaluating my trades for the first time.
In the 3 months of 2009, I traded a total of 15 times, across 11 counters. I made profit in 13 of the trades, gaining 1046.93 in total. Although it sounds pretty good, I will say that it was nothing more than a beginner’s luck. I know that my trading system was far from perfect and needed to be refined both on how I enter and exit any given trade.
There was a fair share of mistakes and shortcoming I made in those trades.
- I am sure a few of those trades were made for the sake of it, entering despite there was no clear swing pattern.
- I added to a losing position instead of exiting it. Although the trade later moved in my favor, it was nevertheless a bad move that disregarded the 1st rule of trading – Protect your capital.
- If I am so confident that the trade I entered will swing up, why do I put a weird sell order of half the ATR (average true range) above my entry point? I should have let the winners run.
- When I first started trading, I did record all my trades in a spreadsheet. Price, volume, counter, date, profit and loss. What was missing though, was another column that states the reason I entered a trade. But this was a mistake that I did not realize for many more years, until this blog was started.
In what seems like a promising start to trading, it was a pity that I have to put all this aside as the events that were happening in my full-time job demand a big chunk of my time and energy. I would not trade for the next four years until things began to slow down a bit in my job.