First Trade Sample Size Analysis


Hey there! I hope you are having a safe weekend! This past week has been an absolute blast, to say the least! I am finished with my First 21 trade sample size. 21 trades in the books, lots of room for improvement. I will be discussing the strengths and weaknesses of the sample size. I can’t stress the significance of tracking your trades. Success leaves clues. Test and refine overtime! From here on out I will be sharing a link of my Trade Charts which is in a Google Slide. These Charts reveal where I bought and sold along with my insights for taking the trade. The link will be Titled "Curiosity Trader Trade Log 101” feel free to ask any questions. In addition, I will post some key stats from the sample size. I want you to get an understanding of WHY I took the trade. That is the main goal, once more I am not a perfect trader. Transparency is key, learn from my success, but most importantly my failures. Video Recap will be below. Enjoy!


Curiosity Trader Trade Log 101


Verified Trades can be Found HERE








Trade Stats

P/L Chart































There is a lot to improve on as every trade shoes a mere reflection of my level of development as a Trader. I highly encourage you to track all your trades and analyst what you did right and wrong. Analyzing your past performance is going to better prepare you for your future. As my Guru Timothy Sykes says “think of yourself as a Scientist, test and refine over time.” Below I am going to talk about the Weakness and Strengths of the sample size. As well, how I plan to improve for the next sample size.


Weakness

  • FOMO Trading: Fear of Missing Out has been my common problem. I know that I can fix this major psychological barrier. I will avoid being in front of the screen during midday. When I feel the urge to bet, when I know I shouldn’t I will simply walk away.

  • Buying into Strength: I need to focus on buying the weakness and selling into the ramps. For example, buying a breakout. Don’t do what the 90% of traders do. Let the breakout beak with conviction then let it test the prior resistance which should now act as support. If the support holds then the breakout is confirmed. Lots of room to grow here.

  • Buying Mid-Day: Trading randomly will only lead to random results. I will be stepping away from the screens during Mid Day hours. I need to focus on the most liquid and volatile time frames. Again Don’t let FOMO take the trade, there is always going to be another trade.

  • Outside my Risk Threshold on a Few Trades: I must abide by the sample size rules. Within every trade, I am willing to lose a specific Dollar amount. No wiggle room. Before taking the trade, my risk in determined which reveals my max position size. In addition, I must have the discipline to cut my loss when my risk threshold is hit. Not be a deer in headlights. When and doubt gets the hell out.

  • Losses overtake my Winner: Some of my Winners got diminished as a result of my Loss. This one ties into the one above. I need to stick to my risk threshold within every trade and this one can be solved. I am going to lose. That is apart of the game. It’s all about minimizing your downside and maximizing your upside.

Strengths

  • Cutting Losses Quickly: Every trade I did stick to rule #1. When and doubt gets the fuck out. When my thesis is busted I get the fuck out. Once more staying in the game is vital for longevity. One trade will not make me, but one trade can break me. Always go into every trade thinking worst-case scenario.

  • Pre-Defining the Risk of Every Trade: Always know your uncle point. As a trader you must know at what point in the trade you are going to exit if the trade goes against you. The vast majority are solely focused on the TARGET price! Don’t be apart of the 90%. Go into every trade RISK FIRST!

  • Proper Position Size: determined on my Risk. This one is Vital for sucess in the long run. More details in the Video Lesson!

There is a lot to improve on! Again the only goal is to survive to the next sample size. I will be back next week if any trades are placed. Have a Great Week, and stay safe out there!



Disclaimer: This blog has a term of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

 

Curiosity Trader

  • Twitter
  • Facebook
  • Instagram
  • YouTube

©2020 by Curiosity Trader