Hey all! Kind fucked up this month. I know I should’ve probably been journaling this, but I’ve been hella MIA this month since I wrapped up with finals, then graduated and moved to Seattle and then I had to get furniture and utilities set up and all that shit in the last few weeks, so I had basically no time to do anything except scalp SPY based on TA. Will get back on the wagon and start journaling starting tomorrow for a new month reset.
On the bright side, as a byproduct, scalping and daytrading finally fucking clicked for me, and I had the most fucking successful trading month of my life (even after counting my today’s fuckup). I’m up ~55% compared to May 1st (was up around ~60% before my fuckup), and only had like 3 red days the entire month, all but one of which were peanut losses. (The one big loss was an unrealised loss for a longer term play that I averaged down that day, which I exited green the following day.) Otherwise, mostly all green days with consistent 2% daily profits, even up to 3, 4 or 5% on some rare days. Almost exclusively day traded SPY (and TWTR puts when they were hot).
That brings me to today: I made my daily goal and then some in the first 15 mins of open with about $135 in profit (~4% gains), and I consciously thought that I should call it quits for the day and come back only after volatility goes down if there’s a clear trend. But nope. I overtraded, and ended the day with $58 in losses. $58 might not seem like a lot but it’s ~$200 down from my day’s high (of realised profits), which is like 3 DAYS of trading undone, and after a month of successfully checking my emotions and trading consistently well, I hate how this was how I ended the month.
I can’t even begin to rationalise how this happened especially when I was able to consistently trade with a working strategy all month (including checking that I don’t overtrade on winning days) but somehow threw it all out the window during home the home stretch of what would be a near-perfect month for me.
Any advice would be appreciated. This is the most a -$58 day has stung, and it happened just when I felt like I was getting the hang of consistently trading well.