End of Month: | Intended Savings | Planned Return | Planned Equity | Actual Savings | Actual Returns | Actual Equity |
February | $1500 | - | $1500 | $1450 | - | $1450 |
March | $900 | $300 | $2700 | $576 | $40 | $2066 |
April | $900 | $540 | $4140 | |||
May | $900 | $828 | $5868 | |||
June | $900 | $1174 | $7942 | |||
July | $900 | $1588 | $10430 | |||
August | $900 | $2086 | $13416 | |||
September | $900 | $2683 | $16999 | |||
October | $900 | $3400 | $21299 | |||
November | $900 | $4260 | $26459 | |||
December | $900 | $5292 | $32646 |
Thursday, March 31, 2011
The journey of 1000 miles begins with a single step...
The close of trading today marked the end of the first month (March) since I started back trading. About one month ago I had outlined my plan for getting past the PDT starting with $1500 at the beginning of this month in this post: http://bit.ly/h5wDnU. Now that the first month has ended I have updated the table shown in the previous post to show the actual outcomes after month one compared to what I had intended. Here is the table:
So basically I am well short (-$636) of my intended equity at the end of March because I did not make any thing close the returns I had intended and I did not save as much as I had intended to save. The amount I save is subject to many unknown variables as several unanticipated expenses arrive from time to time. So this I do not mind so much.
However, only making $40 or about 2.76% return for the month is very disappointing. I am happy that I did not lose money and I make this my very first priority before I put on any trade.Years of trading has shown me that guarding my equity is of paramount importance in order to make it in this game of trading over the long term. Although I have managed my risk fairly well and in so doing protected my account against a deep draw down; I am disappointed with my self for allocating my risk to a lot of poor set ups. I am very confident that if I allocate risk only to my best ideas I will get to the 20% monthly return goal with ease!
So my focus for month 2 or April will be trading my very best; ignoring all else and focusing solely on executing the swing trading process that I have developed and refined after years of trading. Process, process, process will be my focus. As I am very confident that if I execute well and I will; then I will be back on track in a month or two!
Stay tuned to find out how my journey unfolds!
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