September Quarter FY 20 Review

A preface to posting my September 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 have been feeling the 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.

I have had better quarters in the past and I have had much worse quarters in the past. This is just the quarter of where I am an how I have traded at this point in time. I believe you should look at your quarterly reports the same. Its just a snapshot and definitely not a guarantee for the next quarter and beyond.

I hope you get something out of this in regards to my processes and quarterly reviews for your own trading. This is a blog version of a very simple personal version. I hope to be able to continue on doing this each quarter, in a warts and all blog for people to see and hopefully learn something off. If you have anything to add, suggestions or improvements I am always all ears. Like I said I don't proclaim to be the best and I am always looking to improve.

September Quarter FY 20

Quarterly reviews are always a much broader review of my overall performance during that quarter. I don't drill down as much into goals and targets but I take a step back and look at my overall P&L individual stand out trades, like big losses and gains that may be swaying the overall data. I use that data to asses weather I am on track or if something needs to change. Changes can be things like, my monthly goal setting and my ability at achieve those goals, identifying if something has gone or is going drastically wrong within my risk control or even my mental well being or my overall trading in general. It allows me to see more of the bigger picture without micro managing my feelings, day to day execution and performance. It tells me. Yep, what you are doing is working, start hitting harder, or, nope, you need to fix something, and fast!

This September quarter has been assessed personally as neither an amazing quarter, in regards to, having to be careful of being overconfident, over trading and over sizing. Nor have I assessed it as a terrible quarter, resulting in possibly pointing out a need to sit back and check myself before I wreck myself. It has had a calmness/ consolidation feel to it and a more "Normalized" market for my trading (funnily enough). I do note that liquidity has been an issue for me within my weekly reviews so I do know pushing harder must ere on the side of caution. 

I do remember saying earlier on in this quarter to a trading peer that this market (minus the illiquidity) feels more normal to me. It's not the raging bull of late 2017, nor is it 2018 dead and skittish. I must note the last couple of weeks have felt a little "uneasy" but prior to that I have been feeling, that on the days when a loss might come early. there has been good opportunities to turn your day around. Recent times before, that was not the case at all.

P&L wise I am sitting with a good start to the FY (personally). Having dropped a decent amount on the BNL scam ($16k) effects the results slightly to the downside as a one off ('cash write down' lol). Sizing could likely be picked up slightly on theme and sector trades moving forward. Being selective has helped and a need to stick with good fluid trading names has been a must, which I know I need to do better on. A bit less on turnover would be nice too as commissions have taken more of the bottom line than I would have liked.

Looking forward and having already had a couple of poor trades in the first week of October, I know I need to be more selective. Keeping overnight risk low into the quarter and look to add size incrementally on the plays that have been working the best. Continue with being a bit more selective and continue to not allow losses to blow out due to stubbornness (Been doing well on this over the quarter but still room to improve). Keep an eye on overconfidence creeping in from the good start, and keep oneself in check.

September quarter has provided a good base to build off after pulling out of a ~6 figure drawdown. Happy with a good bounce back and positive start to the new FY. Work hard on an improved 2Q FY20 and look to take a min 2 weeks off before the start of January, refreshed and ready for the Cyclops Trader Group Mentorship.


Happy reviewing Traders.


Cyclops Trader

1 comment

  • Thank you for the transparency. Publishing PnL warts and all means that you don’t fear embarrassment, people judging you etc… for a developing trader that fear to post or show PnL to close friends is the same fear interacts with a ones trade. The fear to take that A+ trade, the fear of loss, the fear of missing out etc.

    Leslie Dingo

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