This month’s performance may be small for most people. Well, it is small. But for my mental wallet and my trading psychology, I’ve seen massive growth.
In May, I started trading again, determined to go the slower path. I now learned that you can’t just gamble your way to profitable trading. You need consistency in execution. Slow is fast. Being greedy is the fastest way to burn your account.
May 1-12, 2023 Trading Performance
My new goal is to be consistent. This month, I have set 2 personal goals:
- Win 400 pips and stop trading for the day
- Breakeven and stop trading for the day
I realized that I suck at riding the trend. I spot them, ride them, but freeze when taking a profit. I end up losing the gains I would have had. So, this is my solution. Win 400 pips and stop trading.
This gives some kind of certainty, doesn’t skyrocket my stress level, and gives me time and energy to focus on my work because I don’t need to think about my open trades.
January 1 to May 12, 2023 Trading Performance
As you can see, there’s still a long way to go before I break even.