Trading Monthly Recap - January 2020 With Carl Fred

Me and my trading accountability buddy Carl discussed our January trading recaps. We usually do it in private, but I think that this type of analysis can be extremely beneficial to the beginner traders out there.

Both me and Carl had a good month, yet we both had some drawbacks. I was doing great for most of the month, but the last week was all losses. I was practicing unfamiliar setups, and that cost me money that week. Multiple losing trades added up quickly even when I only risked $25 to a point where they negated the successful trades I had on the same day. I’ve learned my lesson; my focus for February will be to stick to the setups that I know well. I will also be continuing the No-Look P&L Challenge since I had a great experience with it in January and December.

Carl shared that his January was mostly good except for a single big loss which put a damper on the whole month. He said that he kind of froze when SNCR stock price blew up way past his risk, and he was tempted to “manage” the situation instead of just taking the loss and making peace with it. He ended up taking a loss anyway, but it will now be his February focus to use hard stops in order to prevent huge losses and exclude the emotional response from decisions like that.

I’d like to finish this episode with Carl’s quote: “People tend to think that there's a Holy grail out there. And in reality, I think the Holy grail is ourselves; just to be able to control ourselves. ”

What do you think? Was this monthly day trading recap helpful for you?