Trying to Learn How to Trade Journal: April-May 2023
A post about documenting my trades for the month of April and May 2023. I got busier for the last two months while still inserting small trades here and there. I decided to just lump the two month's worth of results in one post.
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 April 2023
Starting Capital | 1000$ retained from January Baseline | Previous |
---|---|---|
Total Trades | 19 | from 12 |
Win | 13 | from 8 |
Loss | 6 | from 4 |
Win Rate | 68.42% | from 66.67% |
Ave. Win Per Trade | 23.426 | from 20.625 |
Ave. Loss Per Trade | -21.991 | from -26.803 |
Largest Win | 79.182 | from 81.688 |
Largest Loss | -160.4 | from -53.706 |
Total $ Won | 304.543 | from 165.007 |
Total $ Lost | -131.948 | from -107.214 |
Win Streak | 5 | 4 |
Loss Streak | 3 | 2 |
Net Profit | 93.413 | from 57.793 |
Net Gain | 5.13% | from 3.27% |
The Summary of May 2023
Starting Capital | 1000$ retained from January Baseline | Previous |
---|---|---|
Total Trades | 10 | from 19 |
Win | 8 | from 13 |
Loss | 2 | from 6 |
Win Rate | 80% | from 68.42% |
Ave. Win Per Trade | 18 | from 23.426 |
Ave. Loss Per Trade | -16.212 | from -21.991 |
Largest Win | 32.449 | from 79.182 |
Largest Loss | -28.1 | from -160.4 |
Total $ Won | 144.013 | from 304.543 |
Total $ Lost | -32.425 | from -131.948 |
Win Streak | 5 | 5 |
Loss Streak | 1 | 3 |
Net Profit | 111.588 | from 93.413 |
Net Gain | 5.83% | from 5.13% |
March's Post as a baseline.
I'm already at 90% gain (give or take depends on how June ends) from the $1000 starting capital. I think the whole trading on the sidelines lost it's magic right around April when the big numbers started to appear in the negative. The roller coaster of winning and losing substantial amounts relative to the capital I was working with dwindled down as soon as losses were reduced and results consistently turned out positive.
It's like the challenge died along with the thrill. I may get the kick out of it again if I was handling more capital but that's not something I want at the moment. I wanted to see if trading crypto for a side income on a daily basis was viable as a fall back but it was time intensive. There's still the local stock market but crypto spoiled me with more than 5% gains per trade on a single day where I could get a 5% gain after sitting on a stock for weeks. It's a different playing field and the money is slow unless I got a lot of capital to work with.
I'll be ending the series with June 2023 results. Right now, it just feels like a chore to trade as soon as I established a routine. I can't really say I'm satisfied with the results despite how great these numbers look, probably my own high bar expectations or knowing I wasn't really trying hard enough like grinding for the metrics. I know I just didn't give it more effort so this is where the discontent lies.
The last post will contain some snippets of how I trade. I'm not going to disclose everything but the general idea is enough to lead anyone to the answers since there's no secret technique but trial and error.
If you made it this far reading, thank you for your time.
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