I guess the old adage "Sell in May and Go Away" may really be true for me!
After February (the month of the previous correction), May (the month of the current correction) has been one my most difficult months. Although I correctly anticiapted a change in the intermediate trend and positioned my self according by shorting stocks, I have managed 7 losing trades and 1 profitable trade for the month. The increased volatility has wreaked havoc on my trading style and forced me to cut loses very quicker than usual and trade smaller sizes.
Other traders have spoken about these lessons. However, you never really understand the value of doing certain things until you get first hand experience.
This month, for instance, despite 7 losing trades and only one small winner; I am only down by about $260.00 or 2.6 R. This is still less than the size of a solid profitable trade. So with about a week and half still left in the month, I still have lots of time to squeeze out a breakeven or better yet a profitable month.
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