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We’ve been smoking the small caps!
Another solid day in the market! This is a great start to the week +$2190 in just 2hrs. That puts me up about $24k on the month in just 11 days. Making an average of $2300/day is not bad at all! The cool thing is that I’ve only taken about 45 trades so far this month. Averaging about 4 trades/day. My success rate has been 67% which is a bit lower than average, but my average profits are 28 cents and my average loss is 19 cents. That’s if I remove my 15 point gain and my 5 point loss on $SAEX that were smaller share positions. If I included those trades my P/L ratio wold be 75 cent winners vs 50 cent losers. Either way, I’m trading with a positive profit loss ratio and a good percentage of success. Those are the metrics I need to meet each month in one way or another.
Total gains day trading today
Last week I wired out $20k in trading profits to bring my balance back down to the $40k range. I’ll trade it back up to $50-60k and then wire out again. I like to keep my account small because it prevents me from getting complacent or sloppy. Sometimes when I leave too much money in my account I can start to think taking a big risk or having a big loss is okay. The reason I choose $40k as my balance is because it’s well off the $25k PDT level, so even if I have a bad day I don’t have to worry about going below 25k.