Trying to Learn How to Trade Journal: February 2023
A post about documenting my trades for the month of February.
Objective: To have a monthly log of my progress in trading. I want to know my baseline and see where I’m heading. Trading has been for kicks and giggles hobby rather than a means to generate income for my living expenses. I want to learn how to do it, see if I could get good at it and how far I can go doing it.
Disclaimer: I’m not an accountant/bookkeeper by profession so I am also open to entertain some numbers here maybe inaccurate. The whole point of the post is sharing some insights from my trades. I’ve been doing this for months and it’s only this year that I started to consider improving at the skill. Nothing here is meant as a financial advice.
The Summary of February 2023
| Starting Capital | 1000$ retained from January Baseline | Previous |
|---|---|---|
| Total Trades | 57 | from 73 |
| Win | 25 | from 48 |
| Loss | 32 | from 25 |
| Win Rate | 43.85% | from 65.75% |
| Ave. Win Per Trade | 12.703 | from 23.4147 |
| Ave. Loss Per Trade | -8.019 | from -15.225 |
| Largest Win | 153.57 | from 597.971 |
| Largest Loss | -36.14 | from -36.8865 |
| Total $ Won | 317.57 | from 1123.905 |
| Total $ Lost | -256.611 | from -380.646 |
| Win Streak | 3 | 5 |
| Loss Streak | 4 | 4 |
| Net Profit | 19.06 | from 743.259 |
| Net Gain | 1.9% | from 74.25% |
I'm only trading in crypto.
I had less trades this month. My Win rate decreased along with my average wins and losses per trade. Almost everything decreased except for being up 76.23% from a capital of 1000$ to date. The performance based on profit earned dropped -97.43%. On the bright side, I didn't lose money overall but gained a small amount which wasn't really worth the amount of time put in. But this was always a learning experiment.
The silver lining is how better I am now at controlling my losses (which also dragged down my hunt for greater profits). Some reflection on my previous trades led me to concluded that most losses where caused by on the spot improvisation and altering the plan midway depending on price action. I was testing several systems that may work for me so there was a lot of inconsistencies per trade. The common reason traders loss a lot is the practice of changing their systems often because they suffered and streak of losses even if the system is statistically proven to be better.
For now, I have a working formula that leads me to suffer more losses but in small amounts in exchange for better gains. Higher win rate systems are indirectly proportional to the amount of profit earned, at least, that's what I came up with after reviewing the sheets.
January's Post as a baseline.
If you made it this far reading, thank you for your time.
Posted Using LeoFinance Beta
Well done! Looks like you could be doing this on the side of your day job.
Been doing it but no consistent success, the weekends are the times when I can put more time watching but then weekends are like mini bear seasons in a week. It's Monday and Tuesdays where there's a rally that or dump that dictates the course of the week but that's my bias. Hard to tell now considering I used to rely on Asian open market time but it's been the US time that's been dictating the market movements.
Your kicks and giggles be looking very profitable @adamada 😂😂😂
Not enough to replace my day job but exciting as hell to do than the one that pays bills~
Hmmm😂😂😂
Adamada trader era, LFG
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