November Trade Journal Review

I spend time each month reviewing my Trading Journal. There are a lot of different things that I review, but here are the things that I focused on for November:

1) 14 losing trades (either exited at a loss or took a stop for a loss)

2) Increase in earnings trades with options

3) Several long-term trades put on that had an unusual move right out of the gate causing me to evaluate targets/strategy much earlier than planned. Not sure this is good or bad.

4) Began providing a Weekend List that I post via twitter and received a lot of great feedback from other traders regarding the list. Thanks for that.

5) 28% decrease in the number of trades versus the prior year. Happy with this stat as I prefer swing or long-term trading as a norm.

6) Expanded the use of indicators for specific types of trades and pleased with the results. If it ain’t broke, don’t fix it.

I struggled, like most traders, to find a trade idea for the impending move out of the Symmetrical Triangle in the SPY leading up to the Turkey holiday. I ultimately settled on this simple idea: no need to determine the direction of the move, buy a straddle & let it ride.

I don’t normally like ponying up the money to own premium on both sides but here were my thoughts:

1) the move was imminent

2) the move would be significant and thus would pay off

I am pleased with the results and will likely consider a similar trade in the future when the opportunity presents itself.

 

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