Main Account for the week: -$860.
This past week has put me exactly flat for the trading year, up in Jan and down the same in Feb... So that's pretty frustrating. That being said, I'm ready to come in a crush a new month!
So what went wrong in February? There was a lot of max draw-down days! 6 in total out of 17 trading days. There was 8/17 losing days in Feb, so trimming down those max draw-down days would have helped quite a bit. Big thing in the magnitude of those losing days was the stubbornness, and poor entries.
One thing I improved on in Feb was managed size counter-trend a lot better. In the end I still lost the same amount of money in those tickers. So I need to know when to walk away. In these cases where the first trade flat out doesn't work, I am going to write down a new plan. Articulating why I've been stopped should help quite a bit, in order to avoid the mistake of re-establishing the same trade and taking a second (pointless) stop.
This Feb I tried to extend beyond the $200 target for the day. I believe I approached this in the right way - that is, by still having $200 as a guide but extending beyond $200 on more conservative risk. Clearly it didn't work, the attitude shift led to more losses; compared to the "nail and bail" attitude that having the $200 target created.
First the first week of March I will trade with the $200 target. Just to get in the right frame of mind, and put together consistency. Then I will look to put together a mixture of them, so $200 guide for day, completely stop at $300 etc...
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