Gross PnL: +$286.
Gross PnL: +$210(?). $19 in borrows. Looks like I've been charged some sort of account fee so need to work this out manually.
Disciplined day count: 12. And was never tempted. It appears that it is simply a part of the way I trade now.
So after past few days focus today was on taking profits quickly. Worth noting that this increases the importance of waiting for an excellent entry because that's where the edge comes in.
So I came in and did that. Unfortunately unlike other days all my ideas worked pretty well. So today isn't a "true" test on how well it works.
However, some very key observations are:
(1) When the idea for bigger trend worked out, I avoided the chop by taking profit; and therefore wasn't exhausted by it.
(2) Often they gave a chance for re-entry. Best example is NOVN which I flipped for $20 multiple times.
(3) The one stock that I held for bigger move (DRYS) did a 50% retracement before I got my cover near the lows. Additionally the other stock ADPT that I held for quite a bit, I covered into a relative low (and therefore was in danger of missing the cover).
It is very clear from today that taking profits generates consistency for me and my style. Would love to test it on a day where my ideas don't work.
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