February was a decent month for me. Had a 66% winning percentage. Very small losses. I think I am doing quite well in terms of cutting losses. But for those that I won. I could have won bigger. There are mainly four things that I need to improve:
1. Be more patience on longs, and less patient on shorts.
2. Especially on overnight longs, where the set up is very good. A lot of the times the stock will dip a bit in the morning and then run. Don't get out immediately.
3. When you are sure of a trade. Don't try to scalp a few cents by getting a better entry. Look at all the profits you missed because you tried to scalp a few cents: NIHD dip buy, AKER dip buy. At least $500 is lost because of my scalping mindset. When you are confident, pull the trigger fast! Hesitation is death.
4. Work on managing emotions: When long, a dip should not scare you. When short, a little spike should not scare you! The risk level is there for a reason. Need to work on becoming a mechanical trader, not emotional trader.
Join now or log in to leave a comment