Monthly Stats

This month I was shooting for $300 net/day, which would be $6000 for the month. Let me tell you, I did not even come close to meeting that goal.

This month I made significant changes in trading and though I had the goal of the $300 net/day, it was to actually end in the positive this month. And, I met that goal. It was not a large amount, especially for all the trades I made, but I'm positive.

Here were the changes I made that I have not done before:

1. No Practice Trading whatsoever during futures market hours (this is from Sunday @ 6:30 pm EST to Friday 4:15 pm EST).
2. Scheduled trading times on my calendar of when I will make actual trades (for example, the first 2 hrs of the market, the last 2 hrs, etc).
3. Trade EVERY day no matter what is going on.
4. Reconcile my trading journal (in Excel), trading platform/software, broker statements to the penny.
5. Review every day's trades that day to look for improvements, successes, corrections.
6. Practice trading ONLY from Friday @ 4:30 pm EST to Sunday @ 6:15 pm EST.
7. Get enough sleep every night before funded trading.
8. Keep funded platform up ALL the time during market hours. No switching back & forth between funded and practice accounts.
9. Trade outside of normal equity hours.
10. Keep positions to 1-2 contracts at any given time, legging in and out of trades.


Days Profitable = 16
Days Costing = 6
Days $300 Net Met = 3

% Profitable Trades = 76%
% Costing Trades = 24%
Total Trades = 95

Total Profitable Trades = $3187.50
Total Costing Trades = $2600.00 (81.6% of profits)
Total Commissions = $379.05 (11.9% of profits)
Net Profits = $208.45 (6.5% of profits )
Monthly ROI = 14% (1 time I actually had 3 contracts on, but usually I used 1 contract, occasionally 2 -- this is based on the max contracts (3) used this month at one time)

Max Profitable Trade = $150.00
Min Profitable Trade = $12.50
Average Profitable Trade = $44.27

Max Costing Trade = <$437.50>
Min Costing Trade = <$12.50>
Average Costing Trade = <$113.04>

Obviously a person cannot live off making this amount in a month, but since I was making such huge changes from what I had been doing for months, I'm glad to end positively this month. It was looking iffy yesterday.

But, unlike results I've had before which I mixed in practice trading, all these results are all real money results with no practice stuff.

What are the things the things that were the biggest challenges?

1. Fear -- I had a lot of fear of losing money. I am addressing these things with my therapist. This caused me to not really go for it in my trading, as each time I took a cost more than a $100, I felt fear and would trade REALLY cautiously, wanting to JUST make some money, even if it was 1-2 ticks ($12.50-25) at a time. Nothing wrong with that, but if the market is willing to give me so much more, that fear causes me to overtrade or get out too soon.

2. Getting in when things were moving too fast, instead of waiting for a pullback.

3. Not totally following my trading strategy, being impetuous, thinking I need to get a profit right then and there.

4. Impatience

5. Getting in when the price action is too far from the moving average rather than waiting until it's pulled back to the moving average, waiting for confirmation that it's moving in the same direction.

6. Not setting up my trades properly, meaning, putting my fib lines up and knowing exactly where the pivots or major areas of congestion or reversals.


Since I did not meet my daily or monthly goals, I will once again set the goal of $300 net/day or $6000 for the month of August.
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