Monthly Review: May 2015

Back Account: +$17380.

Main Account: +$811. Note that this is an aggregate of swing trades and intraday trades because I wasn't able to record the PnL of swing trades while I was sick.

SPI Trading: -AU$2970 or US$2347. Going to stop trading the SPI at all, unless I put further effort into developing my edge. There's no need to trade it given there's plenty of opportunity and I'm going to put further effort into FX.

FX Trading: +$1300ish (I think? Stupid statement so hard to understand!). This arises from the one trade on USD.JPY. Going forward, I have decided that I will pay attention to FX trends actively, but only on a daily/weekly basis. So at the end of every week I will go through the charts and update a post on daily setups.
The motivation for this, is that while I have no intention of actively trading FX; every now and again there are some gimme setups, such as this USD.JPY long breakout, which in addition to nailing the breakout I would have been long from much lower if I had been monitoring it on a weekly basis.

So 3/4 profitable weeks for the month, which amounts to 8/18 profitable days. Much better consistency in terms of a weekly basis but the day to day consistency just isn't good enough. It is important to realise that with my frequency of trading and strategies I adopt it would easily be possible to get 14-18/18 days profitable.

This month I also had two events (mostly) beyond my control which cost me around $8k each so I was quite lucky to bounce back from them. This is really solid resilience. This was the brokerage error which didn't allow me to execute my sales on PTBI and the

Positives:
- Good resilience to big events beyond my control.
- Some really solid reads.
- Was quite sick during the month and didn't let it get to my trading. While I got a little lazy with reviews etc accordingly it was still good in general.
- Clearly when the opportunity presents itself I can nail a high conviction trade.

Negatives:
- Not enough focus on the grind, too much focus on nailing a big trade. Need to take profits quickly unless a super high conviction setup. I haven't improved on this from last month yet.
- Not controlling risk well enough. The only time to risk decent money is when it's a high conviction setup (say once a day max!). The rest of the time risk should be minimal.