MARCH RECAP

MARCH TOTALS:
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Gain: $18.40 per share, net of commissions
Trades: 194 for 266; 73% winners
Ave Gain per day traded: $1.08 per share
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Days traded in March: 17 days out of 22; 77%
Days traded with a gain: 15 days of 17; 88%
Days traded with a loss: 2 days of 17; 12%
Largest daily loss: -$4.19 on March 31st
Smallest daily loss: -$1.97 per share on March 2nd
Largest daily gain: $4.22 on March 16th. Also, the most active day.
Smallest daily gain: $ .04 on March 10th.
Most active day: 33 for 47, March 16th. (the biggest daily gain in March)
Least active day: 2 for 2; March 4th.
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Notable: The first and last days of the month were the only losing days.

March 31st

Well, it was a day of ups and downs; good news and bad news. First, the downs...the bad news: two of the 19 trades (same trade but a double-down made it two) represented a horrible loss of $5.73 per share on SKF !! It was just ugly on so many levels. In reviewing the trade, I noted the following: I went long while neglecting the fact that SKF was pushing down hard on resistance after having already dropped $3.00 per share from the open and $5.75 per share from its early morning highs. That was a key sign that this was to be a down day. Secondly, I noticed in hindsight that the volume activity was not the usual level I look for for a good solid reversal. I've made trades with this volume level before and it usually goes my way. So much of this game is probabilities and this time, I was stung. Thirdly, I doubled down on the trade out of over-confidence. This was the dagger in the heart. I was so sure that I was in a good reversal that I got cocky and added to the trade when the signs pointed to not doing it. So, all the signs were there, but I was not paying attention to details, as I had intended to do from yesterdays post. Very frustrating. But, earlier in the month and in February, I was doing this much more often. The primary lesson is to cut losers short...but it is a double-edged sword! I've bailed on so many trades for losses that ended up successful that I've taught myself to just have guts, stay in, and fight! Well, today I paid for it. Perhaps, In the end, I must suffer a few of these as part of the cost of doing business in this manner I've chosen to trade.
The ups, also known as the good news, are that without the bad trade, I was 13 for 17, a 76% win rate; a $1.52 per share gain. Of that, I was 7 of 9 for a gain of 89 cents per share AFTER the trade from hell. So, that was a good way to finish the day. But. all in all, I'd like to have finished the month on a winning note, but it was not to be. I will re-cap the month on a separate post once I run the tape on it.
13 for 19, a 68% win rate; -$4.19 cents per share loss.

March 30th

The end of March is almost here and I'm really feeling more confident about paper-trading in this style. I'll have a chance to be at the computer tomorrow as well but I'll be back to the day-job for Wed, April Fools Day.

Nothing really to remark about today, except that I was getting some mis-timed entries and had the discipline to double-down on the trade on four occasions, with all but one of these situations resulting in a gain. Patience is difficult to find when one is down $1.60 per share but I found a way to fight through the urge to "cut and run" and it paid off, for the most part. Discipline, refinement, and patience. These are the things which are my focus right now; necesary to a successful career as a trader.

If I can figure out how, I will do some re-caps and add them to the margin of my blog. Maybe a week-end project...

12 for 13 winners, a 92% success rate. $1.83 per share gain