Trading Journal Jan 2019

Trading Journal - Jan 2019

• Be more reactive to price action
• Do not go against the general trend

Real Money Department

My main lesson learnt for this month is that I have reacted too slowly to price action. While SPY have been rising for the entire month, I kept on waiting for an opportunity to short believing that a double bottom will occur. I even went on to take a short on 16 Jan on a bearish pinbar. In retrospect, the "bearish pinbar" wasn't even as ideal. I only covered the losing short and opened a long position on SPY during the last day of Jan.

Similarly, based on my belief, I continued taking short position on other stocks. Going against the general market sentiment the entire month. Needless to say, this is a rather bad month for me with a loss in my portfolio.

Going forward, I am trying to react faster to price action. However, I also understand that this would result in me being more susceptible to "background noises" and going in the wrong direction. But we'll see how this play out. As for now, I will be long on the SPY, and getting ready to exit on resistance of 280, and short if any bearish momentum appears.

Paper Money Department

This is just a reflection of my real money, and even magnified. I ended the month with over -20R. Losing on many trades that showed the proper set-up and even confirmation candles (some even for 3 days). But as i enter, the direction reversed.