How I made $288 in April 2023
My first full month of trading is complete!
I closed 10 trades, and made a profit of $288.
Made some silly mistakes, and got lucky with a couple.
Here are the trades that I closed in April:
Notes / Learning points #
I was profitable on 80% of the trades. Woohoo!
I closed a bunch of them early before reaching my 50% target though. It helped in some cases, but also limited my profits.
I SHOULD HAVE taken profits early on GILD before it swung to a loss. I wasn't really watching it too closely, so didn't notice the reversal. Now, I plan to look at my positions at the end of every trading day to see if I should close it. I think I will base my decision off support/resistances and candlesticks.
The other big loss was on ATVI, which I shouldn't have entered in the first place. I was praying all month that it would drop in my favor, but it never did. I decided to close it a few days before earnings to take a decent loss. Funny thing is if I had held it through earnings, I would've made a big profit since they had bad news about its acquisition from Microsoft. Oh well.
One other major rule change I made for myself this month was to lower my risk per trade. It was originally at 2%, but I realized I was not yet comfortable making trades at that level. So, I've lowered it to 1%. It will limit my profits, but allow me to make more trades and mistakes.
Oh, also hit my first goal of making $100 per month. Woohoo!