The first month of trading: a profit of 21.3%!
Since starting this site on March 19th, I can’t complain about the three profitable trades I made, which together produced a first month profit of 21.3% for my modest account. Kinda leaves those “6% a month with ETFs” advertisements in the dust!
Of course I haven’t had a loser yet,and that surely will come in time. Going in to this, I expected really no more than a 50% hit rate on profitable trades; I still think that is what it eventually gravitate to by the end of a year. There’s nothing wrong with that, so long as you have a method (and the willpower) to “cut the losers and let the winners ride.”
That brings me to my biggest self-criticism so far; I have been especially eager to leave winning trades quickly. Sure there have been specific reasons for doing so on the trades I made so far (including the fact that I have been going “all-in” and using margin as well), but in the long run, it could prove dangerous to leave money on the table, especially if I develop the bad habit of hanging around in losing trades, “hoping” that they come back to break-even.
But I will try not to be too critical in the face of some early success; and I am sure the the market will have plenty of surprises for us in the second month here!
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