March Quarterly Review 2020
A preface to posting my quarterly review. I would first like to note that I am always very hesitant of posting profits and losses out there for the world. There are many reasons why, but mainly because its personal and trading is a personal game. I am however aware that as a trader putting myself out there, I need to add some sort of legitimacy to my public profile. Please know that I am not promoting myself as the best trader in the world (or the worst for that matter lol) the fastest, most consistent, ballsiest, or biggest in size. There are plenty of traders and investors doing much better, trading bigger size, being more constant and taking ballzier trades than I. I am but a small fish in a big sea. I am posting what I am, and what I know, and what I am and what I know is..... well, this. Take it or leave it.
Coming into January, I had just taken most of December off. I had had a choppy Oct and Nov 2019 with all the Trade deal on - Trade deal off farce I decided Dec was a holiday well overdue.
I had set goals based around constancy and not fighting the market. I had a clear mind of coming back into the new year with smaller size, and a much tighter risk profile, really cutting those losses quick if they were not acting as expected.
As I achieved these goals, of risk and size my consistency returned. I had also stopped taking overnight positions, which, in my over five years of day trading, I think I could count on one hand the amount of nights I had not held overnight exposure.This tested my discipline but also helped me come in each day clear minded and unbiased, ready to trade. This will be a primary step for me moving forward when going through an inevitable rough patch in the future.
The quarter provided some great long and short trading opportunity, with the early Lithium Miner pump based off nothing other than a Tesla short squeeze, then the more logical lithium miner dump. Also an unfounded pump of mostly Medical Marijuana stocks, then the trading opportunity that was, COVID 19.
COVID19 was a great experience I kept consistency which was a key focus, while increasing my size in areas that I was more comfortable in. Trading the larger caps is not my favorite area to be in, but I did well, could have done a lot better had I been more familiar with some of the names and how they traded.
Adding size through February could have happened quicker, but having that comfortable consistency I didn't want to jeopardize that, for a least a short while.
While there are considerable areas to improve on caution is now creeping back in as markets discombobulate on a bounce with asset classes diverging, signaling a bit of chop to come. Moving forward plan for April, will be to keep sizing controlled and keep risk tight.