Warrior Trading Blog

January 2020 in Review

january 2020 in review

What’s up, everyone? All right. So I’m going to share with you a session that usually I reserve for my Warrior Pro students the first week of each month, during my Warrior Pro mentor session. So these are the sessions I have with all of my Warrior Pro students.

I sit down, and I review my metrics from the previous month, what worked, what didn’t work, and, usually, I come away with a couple of things that I’d like to do better in the months ahead. Of course, that’s true this month as well.

But January is a particularly interesting month because it was such a roller coaster for me. I had over $70,000 in winning trades, but I had a lot of losses, too. Where did I finish the month? Well, you’ll learn that as you get into the recap. It was a choppy month, and from every one of those big losses that I had, there’s a lesson.

Now, I usually share them with my Warrior Pro students, but I wanted to share them with you guys because I think that there’s some lessons in here that are really going to help a lot of you guys who are just getting started, and especially those of you guys trading at some of the free commission brokers. With free commissions, you can churn. You can trade and trade and trade and trade, and more is not always better.

I did a lot of trading this month. I took 260 trades in total. I earned a lot of commissions. My commissions this month were over $12,000. $12,000, just in commission. It’s the record. It’s the highest commissions in a month that I’ve ever done, and I don’t have a lot to show for it. It wasn’t worth it.

So overtrading is really not the way to go. It’s quality over quantity. A quality setup. Trade the best. Leave the rest. I didn’t follow that wisdom in January. I was too aggressive. I was impulsive. I was a little sloppy, and I want to do better.

So I share these episodes with you, these sessions where I break down the losses, because I want you to see the behind the curtains. I want you to understand and recognize that trading is hard. I know that on a day like today and days … You saw several of my recaps from earlier in the week. I can make it look easy, and, in a lot of ways, it is easy, pressing the buttons and jumping in, jumping out, because I’ve been doing this for so long.

But the process of getting from very beginner up to the level where it becomes second nature and you’ve got that muscle memory and you’ve got that intuition, it’s a battle. Even once you’re up here, there’s still the emotional struggle. That’s what I really struggled with a lot in 2019 and certainly continued in 2020.

I’m trying to find ways where I can be more centered in the way that I approach the market each day and try to pull back on that aggressiveness, because I can get so aggressive jumping into something, jumping into something, and that quality threshold can go lower and lower and lower. I’ve really got to work on that.

So I hope that within my losses are lessons that you guys can learn from, and I hope you guys give me the thumbs-up for the transparency, showing you the wins and the losses. As always, questions, comments, leave them below, and I hope you guys really enjoy this breakdown of January, the roller coaster, and hopefully I’m off that roller coaster and I’m going to be a little bit of smooth sailing here into the next at least few weeks, maybe few months, maybe the rest of the year. Time will tell.

All right. So we’re going to get into it here, breaking down January 2020, first month of a new decade, and, unfortunately for me, it was a continuation of overly aggressive trading, burning a lot of money in commissions. Of course, I still use a broker that charges commission on my trades. I’ll talk about why I do that in a second, but the end result was that January did not live up to my expectations, and I’m disappointed with it.

Now, fortunately, I suppose the silver lining is that I did make some money on my TD Ameritrade Small Account Challenge, which is great. I’ve only had one red day in the Small Account Challenge, and so far, in February, three days in, I’m already up $38,000 on the month, 25,000 right here.

So all right. That’s good. I mean, that’s awesome. That’s really great. But January was a struggle. So I want to show you, before we get into January, I want to show you my detailed P&L here of the last 12 months, including last January.

So this was last January, from January 4th up to the 30th. So I ended up making about $56,000 or so last January. Nice. The January before that, in 2018, let’s see. January of 2018 was $117,000 in one month. So Januarys typically are pretty good for me, and last month, in December, I did my Small Account Challenge. I turned 500 bucks into $53,000 in 17 days. So I was coming off December feeling like, “All right. January, here we come. This is going to be a new record-breaker month.”

I ended up pretty much starting the month swinging for the fences. Now, of course, I came off of some really great trades in December, some home runs, and that was why I was as aggressive as I was. But pretty much immediately, I dug myself a hole. All right? So I went red right away. I then spent the next week digging myself out of the red, getting myself to almost break even, before losing 20 grand in two days.

But hey, then I made it back. I had a $20,000 green day. Popped right back up, and then gave back profit. In two days, lost $10,000. Gave back half the gains. Over the next three days, I made back 12,000 and basically finished the month breakeven.

Well, I ended up making 1,100 or 1,500 or so in my TD Small Account Challenge, which is not part of these metrics, but between my main trading account, both my main account and my retirement account, the net profit for January … Zoom back out here. Let’s look at January 2020.

I started going down $10,000 immediately, made back 3,600, then dropped down another 10,000. Dropped down another 8,000. Dug myself out a little bit. Nice big $9,000 green day. A couple red days, no big deal. A couple more solid green days. So right here, I was back to almost breakeven on the month with two weeks left. Then a $14,000 red day, a $5,000 red day, a bailout, up 20 grand in one day, another small green day. Now here, down $10,000 in two days, and then back up here.

So all of this aggressive trading, you know what it yielded me? Net profit, the only profit I really had from last month was in TD Ameritrade, right here. This was my main two accounts, down 133 bucks, and this is going to hurt, $8,000 in fees and $4,000 in commissions. So I spent $12,000, $12,000, on fees and commissions.

Let’s do the math on that. 12 times 12, that’s $144,000 in fees and commissions if I keep trading the way I traded in January. Doesn’t feel like that’s going to work super well. Right?

Now, even if I end up averaging $50,000 a month, let’s just say I make $50,000 a month on average. Let’s not even set that bar that high. Let’s say I make half a million dollars at the end of this year, but I spend $144,000 in commissions to make it. Yikes. Doesn’t feel good.

So where did things really go wrong? I would say, for me, overtrading. I was aggressively overtrading. My average daily volume, 175,000 shares. I was getting in, getting out, getting in, getting out. I was being kind of impulsive. I would see a stock starting to pop up. I would jump in with 10,000 shares. The second it didn’t look good, I would get out. It looked good again, I would get back in. Then I would get out. Then I would get back in.

So I was jumping all over the place. The result? Accuracy went down. Only 57%. That’s much lower than average. If I go back here to 2017, for the last two-plus years, average is 66%. So my accuracy went way down.

We look at this, the commissions here, on a month, I mean, let’s just pick a random month of 4/1/2017, 4/30/2017. Let’s just see what the commissions were on a month back here. All right. Huh. This was a red month. So that’s not the easiest one. But on this month, my commissions were $3,600. Let’s see. Let’s do 2018, 2018. 54,000. My commissions, not bad at all. Average daily volume, half. So I can make more money trading with less share size and trading less actively. I only took 87 trades in that month to make 54,000.

Let’s look at the following month of May. May, to the 31st. 73,000, 161 trades, 61% accuracy. Commissions? Seven grand. All right? Then here we have 01/01/2020. I set a record. I mean, I really set a record that only the broker can appreciate, which was a record-breaker in terms of commissions in the month.

In fact, I had one day where … It was this day here. My commissions were $1,784. Isn’t that crazy? Of course, I traded half a million shares. I was getting in, getting out, getting in, getting out. I was being super, super aggressive, and I made $7,300 before commissions. That’s not bad, but after commissions, I really got eaten up.

Now, I could trade with a broker like TD Ameritrade, but even though it’s free, the executions are not as fast. For that reason, I haven’t been trading in it in the first five minutes. So these trades, like the $38,000 that I just made in the last three days, I wouldn’t have been able to make that money in TD Ameritrade. I know that I wouldn’t.

So I feel like the commission is worth it. I think the problem last month as not commission-based, because my commissions haven’t changed. So if I didn’t have a problem with commissions a year ago, there’s no reason I should have a problem with them today.

The problem for me in January was I was overtrading. 260 trades. I was being too aggressive, and I was trading in multiple accounts at the same time. So I would have a day where I would trade in my IRA, and then I would switch and trade in my main account. Then I would switch, and I would trade in the TD Ameritrade account.

So I was trading here, trading there, trading in another account, and the problem that I started to realize was I had a day, for instance, where I made $5,000 in my main account. Then I was like, “Okay, that was a good profit. Now I’m going to switch to the other account and try to make some money over there.”

So I switched to the other account, and I end up losing $3,000 on the first trade. Even though, at that point, I should’ve stopped, because I’d given back half my profit on the day, I was looking at that account totally separately. I was like, “Well, I’m down 3,000. My max loss is 5,000. I’ll keep trading.” Next thing I know, I’m down 7,000 in that account. I’m up 5,000 in the other. I’m negative on the day, and now I’m starting to feel more emotional and more impulsive and frustrating.

So I guess even though I did well in 2017, in 2018, and through most of 2019, trading in multiple accounts, this last month, I didn’t do well on it. So what I ended up doing was making a conscientious decision around the last week of the month to just trade in my retirement account, not to trade in the main account, and to not trade in this account and in TD at the same time. I might trade in TD Ameritrade, but not at the same time.

That helped simplify things, which is good. The last three days have been terrific. So that’s certainly good proof of concept there, and in the last three days, although I’ve been fairly active, I’ve been a little bit less active.

I think another thing that’s important to note is my performance by time of day. All right? So this is the whole month of January. Let’s break this down by 30-minute increments. We’ll do 15-minute increments. No, we can do 30.

So the bulk of my profit, between 9:30 and 10:00 AM. From 10:00 to 10:30, 10:30 to 11:00, and then 11:00 to 11:30, I made a little bit. Every time I traded in the afternoon, I lost money. That’s $10,000 right there in losses, trading in the afternoon, that was totally avoidable. Generally, I have a rule that I don’t trade in the afternoon.

But here’s the thing. I traded in the afternoon this month because I felt that I needed to make up for the fact that I had had some red days at the beginning of the month. So there were days where I did my morning trading, was done trading, and then I came back in the afternoon, I saw something moving, and I was like, “Well, maybe I should go ahead and trade it, because I don’t have a cushion on the month. I should probably just try to make as much as I can out of these opportunities.” Well, the net result was that I lost money.

So a couple of things that I’m implementing for this month. The first is that I’m not trading past lunchtime. As much as I sometimes will feel tempted to jump into a stock in the morning, whatever, the late morning, the early afternoon, I’m not going to give into it, because that was really costing me a lot of money last month, and it was getting me emotional and frustrated and impulsive. The result was not good.

So, number one, no afternoon trading. Number two, less is more. 260 trades, this much commission, that’s silly. It was a waste of energy, a waste of money, and I don’t like wasting money. That doesn’t feel good.

So I’m going to focus on trading a little bit less, and I’m going to focus on higher quality setups. That means if I only trade twice a day or three times a day, my volume will certainly be lower. My commissions will be lower, and I’ll most likely be trading better quality setups. So if that means I trade a little less, I think the end result will be that I’ll make more money.

Of course, I’m going to continue this approach of focusing on just one account at a time and sort of just put aside that overconfidence that I can trade in three accounts at the same time. I’ve done it before, and when the market’s really hot, I might do it again. But right now, the market’s been pretty hot these last three days, but right now, I just need to focus on one account. I need to kind of get my center back.

I feel like that’s kind of been the problem, is that I’ve been really sort of off-center. I’ve been continuing to trade these sort of numbers in my mind that I have, that January’s going to be a record-breaking month, and this is going to be the month that I hit a new all-time high for biggest profit in one month, or we’re seeing all this momentum, so I’m just going to jump on. I’m so optimistic of what could happen in the market, and then I ignore the downside risk. Some of the losses last month, $12,000. I mean, this is not good.

So I’m a little disappointed, as you might imagine, with how the month finished, because despite having a couple of awesome trades, TWMC, this was the one I made $20,000 on, TWMC, an amazing trade. This was one of the best gap and go stocks we’ve had in a long time. Back up the chart on it for a second. I mean, it was picture perfect. It was really so clean, and here I am, instead of having this be a winner that makes my month, this ended up being a trade that bailed me out of a bunch of low-quality trades that I could’ve done without.

So this is the value of going back and reviewing your metrics, and I encourage our students to do this each month. I do it for students that are in the classes each month with my own metrics, because I generally, from these losses, gain lessons and gain insights.

The big lesson here was that I was treading water last month. I churned. I burned $12,000 in commissions. I traded 175,000 shares a day on average. So that’s basically ten trades with 8,000 shares. Right? Because you buy 8,000. Then you sell them. So 160,000. So ten trades with 8,000 shares a day, I mean, that’s just … There’s not ten A-quality setups every single day. I was being aggressive. I was searching, and I was scrambling a little bit. I was getting a little desperate and really trying to get myself in the driver’s seat.

So one of the things that’s kind of interesting is the fact that I tend to do this at the beginning of a new month and at the beginning of the new year. So why is that?

Well, the way I have kind of looked at it is that … and this kind of reflects back on something I used to do in school. I used to rush through my homework. I used to rush through my homework to get it done, because I guess I didn’t really care, necessarily, if it was done perfectly. I just wanted to get it done, because that feeling of accomplishing it I guess was stronger than the feeling of doing it perfectly. So, for me, I just liked to get my homework done, and then I would go do all the other things that I want to do.

So with trading, I have a monthly goal each month, and I want to hit that monthly goal as soon as possible so the rest of the month, pressure’s off. I’m coasting. Hey, if I end up having a couple more awesome trades, fantastic. If I don’t, no big deal. Likewise, I want to hit my annual goal as early as I can. The sooner I hit my annual goal, which would be to beat last year’s profit, the sooner I can kind of sit back and relax.

So I think that that has been a big emotional hurdle for me, is that kind of mental baggage of needing to hit this number as quickly as possible.

So one of the things that I also did towards the middle of last month … It was right around here. It was after this green day. My instinct, what I wanted to do was log into my Lightspeed account and see what my P&L was on the month, after that win. So why did I want to do that? Because I wanted to know that number of how far away I was from breakeven and then how far away I was from my monthly goal.

I said to myself, “Ross, knowing isn’t going to help you.” Knowing that number is not going to help you be a better trader. What it’s going to do is it’s going to put a number in your head that you need to be working towards, and that doesn’t help you trade. You need to trade the market you’re in.

Today I traded the market I was in, and I came in today saying, “You know what? You had a great day yesterday, but today could just as easily be a very slow day. If I only make $1,000, that’s fine.” Ended up having a couple of awesome trades. I’m up 25 grand. That’s trading the market you’re in. So I’m very happy with that.

But and then after these two red days, I, again, wanted to log in and see, “Well, okay, where am I at on the month? How much do I need to make just to break even?” Again, I said, “Ross, don’t do it, because then you’re just to be trading on this day, thinking, ‘I need to make 7,000’ or ‘I need to make 7,500,’ rather than just focusing on trading the best quality setups and letting the profits be what they are.

So I’m struggling a little bit with the acceptance there of accepting the not knowing, because I feel like I need to know where I’m at each month. I need to know where I’m at each week and each day, and it’s impossible not to know. You can’t have this here and not know how much you’ve made each day. Each week, you can usually have kind of a rough idea of how much you’ve made, and each month, you can usually sort of have a rough idea. But as you get further into the month, it can get a little fuzzier.

At this point, I know where I’m at on the year, but, of course, it’s February. Am I actually capable of totally detaching from that number? Because, really, what does that number mean, how much you’ve made on a month? I mean, as long as you’re covering your cost of living, right? So as long as you’re making 5,000 a month, let’s say, $1,000 a week. Then anything above that is just fantastic, and you may have some months where you go way above it. Great.

But that’s a high water mark. Doesn’t mean you should expect that every month. So then when you go into the next month thinking, “Okay, I made 100,000 this month. Now I’m going to try to do it again,” that’s when you start getting off-center.

So that’s kind of what I mean about being centered. Being centered is about being right with the current market, and all of that emotional stuff of “This is how much I need to make. Oh, well, maybe if I do this and I trade this many shares and I can do this, then I can get to there,” all of that is distracting you, and it pulls you off your center. It pulls you away from focus, and that’s when you start making mistakes.

One of the other things that happened to me on this day right here … No, was it this day or this day? I don’t remember which day. But, in any case, on one of those days, I set a max loss on my account of minus $1,000. So if I’m down more than 1,000 bucks, my account is locked, and I can’t keep trading.

Well, on the first trade, I jumped into a stock with 6,000 shares, which is my normal share size, usually. I was instantly down 1,200 bucks. The right thing to do was cut the loss. But I said, “Oh, shoot. If I cut the loss, my account is locked for the rest of the day, and it’s literally 9:31. Hmm. All right. I’m just going to hold this for a second. Let’s just see what happens.” Then I was down three grand.

My instinct was to cut it, and then I kind of ended up not stopping because of this max loss thing. It’s almost like having a set of training wheels on your bike so you don’t fall down, and then you hit the curb with the training wheels, and you fall off your bike. The thing that I put to prevent me from falling, from taking a big loss, caused me to take a big loss, because it got me in my head. It got me off-center.

So I increased my max loss to 5,000. So I’ll have the loss there, but not so tight that I have the potential that it’ll take me out in my first trade, because the reality is, with 6,000 shares or even 10,000 shares, it’s very possible that I could lose $1,500 on my first trade and still end up having a fantastic day. So that max loss was too tight.

So that was a good lesson from the month. Rules are helpful, but they can also be constricting. So they can be, in that case, counterproductive.

So, since I kind of pressed the reset button, which, really, was right here, I had a couple of green days, a couple of red days, and then three really nice green days. Now I’ve got three more. So now I’m on six consecutive green days, and these six days, I’ve made … Let’s see. I made 38,000 so far this month, plus this was about 12,000, 14,000, actually. So that puts me up 48. That puts me up 50.

Now, again, this is me doing the numbers, putting it all together. I hadn’t done it until right now, but that puts me up 38, 48, $52,000 in six days of trading, averaging about 10,000 a day. But that doesn’t mean that, tomorrow, my goal is to make 10,000. Tomorrow, if I can make 1,000, I’ll be happy.

My daily goal is $2,000. That’s been my daily goal for a long time. If we go back here to January of 2017, I’ve been averaging … Well, my average is going to be brought down, thanks to this month. But I’ve been averaging 1,600 a day. So $2,000 maybe is a little aspirational. Maybe I should set it at just 1,000, and, hey, anything more than 1,000 is a great day. If I can make 1,000 bucks, that’s fantastic. If I make two grand, that’s terrific. If I make five grand, sweet.

The problem for me this year is going to be if I’m in the habit of doing this review at the end of each month, I’m going to be constantly benchmarking myself against last month, against last year, against my best month of all time, and I’m trying to release myself from some of those burdens.

So I might end up doing things a little differently this year in how I do my monthly recaps and things like that, just to kind of put some space between me and that competition that I have inside me and really try to focus in on trading the market I’m in and not trying to set a new record for best month of all time or biggest green day of all time.

But it’s going to be hard, and trading is hard. This is some of the hard stuff about trading, are the emotional challenges. The act of taking these trades today was as simple as pressing some buttons on my keyboard. That’s not hard. Of course, you have to learn how to use a keyboard and things like that, but it’s really the emotional stuff that trips me up, even after doing this for as long as I’ve been doing it.

So that’s my month in review, January 2020, a continuation of the roller coaster that started kind of at the beginning of last year for me. Well, it really started, I guess, in probably more like February and March, but yeah, see, this really started, I started to struggle here right as I got close to that $1 million milestone. I wanted to cross that million-dollar mark. I then did a Hail Mary pass, a big miss, ended up losing, over the course of a couple weeks, a bunch of money, took a month to make it back, got back up, but then felt like I needed to play catch-up to catch up to where I was at that point last year.

Started swinging for the fences again. Took some losses. Got back up. Market got slow. Finally started to open up. Started to put the pedal to the metal, and then, boom, market cooled off again. Another loss. Slow rebound. Finally back up, and then this has been January.

So, all in all, it’s been a choppy 12 months for me. But, all things considered, in 12 months, I’ve been $367,000 of net profit. My broker’s made about $90,000. So my gross profit is 450, and I’ve given back 20% of that profit in commissions. That’s a little bit of a tough pill to swallow right now, but I think that I could’ve given back a lot less if I wasn’t trading quite so hyperactively, at points.

I mean, some of the days, I’ve just been in, out, in and out, in and out, and it’s like every time you do that, you’re paying the commission, you’re paying the ECN fee, and certainly with TD Ameritrade and some of the other free commission brokers, you don’t have to worry about that. It’s free commission, but when you press this button, it’s a guess as to what price you’ll get filled at. That’s been the challenge.

So does it work with small share size? Yeah, I mean, I guess so. I mean, I’ve been growing the account slow and steady. But I couldn’t trust it with … I really don’t think I could trust it with big share size, and to make $25,000 in one day, you’ve got to step up to the plate with bigger share size.

So I need the right tool to accommodate my trading, and, unfortunately, in the last year, I let my emotions get the better of me on a number of different occasions. I’ve already done it here in January, so my New Year’s resolution is out the window, but it’s a new month, and, right now, I can make the decision, starting today, to do what I need to do to stay centered each morning. If that means not looking at my P&L, if it means not keeping my calendar next to me, where I’m writing my daily profits every single day and kind of constantly keeping that measuring stick next to me, then maybe that’ll be for the best. If it means trading a little bit less and being a little pickier, maybe that’s for the best.

It’s kind of incredible that I somehow managed to find something worth trading every single day, not only something worth trading, but something worth taking ten trades on. I traded every single day. The market was closed on New Year’s Day, and it was closed on Presidents’ Day. No, what day was this? Martin Luther King Day. But I traded every single day. Every single day, I found something worth trading. So that tells you right there that my quality threshold is a little low.

I think it’s typical of day traders. A lot of times, we are aggressive. We want to get that profit. We want to get in, get out. But I’ve got to rein it back a little bit. I’ll tell you that I have always been, on the spectrum of traders, on the overactive side, and that’s one of the reasons I stopped myself at noontime for a long time. I said, “Nope, I’m done. Lunchtime, I’m done.”

But this month, I thought, “Hey, I’ve been doing this long enough. I can do the afternoon stuff. I see other people doing it. I watch the chat room. I see people are making money. I’m going to jump in.” Next thing I know, I’m getting impulsive. I take a loss. Then I’m trying to dig myself out of that loss. It gets bigger and bigger. Now I’ve given back my morning profit. It’s not worth it.

So I’ve got to focus on trading during the time of day that I do best. There are some people on that spectrum who are really afraid of taking trades. They’re afraid of pressing that button. They’re afraid of the loss, the risk. I’ve been there a few times, after a really bad loss, where I’ve been so anxious to trade, but, really, 95% of my trading is I’m on this side, trying to rein myself back. I want to be more aggressive. I want to get back in, get back in. I have to, “Slow down, bud. Slow down. You’re overtrading.”

So a couple things that can be helpful, removing the hot key to buy. Shift one buys 1,000 shares. If I pull that off my keyboard, that slows me down, because it forces me to come in here to the order entry window and manually type in 1,500 shares and put the price in there.

Things that slow me down often can be helpful. Having the max loss in place is a good thing, because my instinct after a big loss is to get back up and try to get right back the money that I lost. It’s only human to feel that way, but I need to have that big max loss of minus 5,000. So if I have a day where I’m down five grand, the hope of me getting back to breakeven is gone. Give it up. Walk away. You’re off-center. you’re not getting back to center until you get a good night’s sleep. So come back tomorrow.

So having a couple of those things in place is good. They’re kind of like catastrophic insurance policy. It’s worst case scenario stuff, and it is important to control your risk in those ways.

But yeah, this is the real struggle that I continue to have, trading. So all those great trades from January, they were just bailing me out from the trades and the days where I got overly aggressive and impulsive and let those emotions get the best of me. So starting, well, start a few days ago, but for you, if you may be feeling this way, starting tomorrow, new set of rules.

I wrote this on my keyboard, on a sticky note. “Don’t be careless.” I thought that that was a really interesting word. It sticks with me, careless. Being careless is terrible. To me, it seems terrible to be careless. Am I aggressive? “Don’t be aggressive.” That doesn’t sound as bad. Don’t be aggressive? Aggressive, a lot of people think being aggressive is a good thing. Maybe it is a good thing. “Don’t be impulsive.” That sticks with me a little bit more. “Don’t take risky trades.” A lot of trades are risky, and they end up being big winners.

But “Don’t be careless,” that one speaks to me the most, for some reason. Careless is … It’s sloppy. There’s nothing admirable about being careless. So I put this note, “Don’t be careless,” and I read it before I start trading each day, actually. I put it over where my position window is, so I have to remove it in order to start trading. It’s a reminder.

It’s a negative thing to say, I suppose. You could have something more optimistic, like, “Have a great day, bud. You’re going to crush them today.” But I don’t need that when I’m starting trading. I already feel like I’m going to crush it. I need the check to bring it back of “Don’t be careless.” Slow, calm, cool, collected. Breathe. It’s been helping.

So it’s not a matter of if I have another big red day this year. I will have another big red day this year. That’s part of trading. There will be a day in February, most likely, that’s red, and there’s a good chance I have a day that I’m down more than 1,000 bucks in February. That’s part of trading. I can live with that. But what I’d really love to cut out are the days where I let it snowball, the days where I get incredibly aggressive, overtrading, trying to make back the money, and I just dig myself further and further into the hole.

So I’m thankful for the last three days of really hot momentum. Well, I guess the last six days. I’m very thankful for this day here, where I made 20 grand and jumped myself right back to flat. But then on these two days, I let myself get a little careless. So after that, I was a little disappointed, and I finished the month respectfully. Well, I don’t know how respectful this is, but I finished the month. I got through another month, and this was a little bit of a treading water month.

Thankfully, I have some gains in the TD Ameritrade account, but it is … I could import these trades, but there’s just such a small amount of money. It’s just a fun challenge I’m doing. It’s just not, at this point, serious enough that I really care about the metrics.

So these are the accounts I trade and take seriously. So this is going to be a red month for 2020, not a great start. My average for the last three years, ’17, ’18, and ’19, has been two red months each year. So I’ve already used up my first one in January. I’ve got a good stretch ahead of me, 11 months. Got to stay centered. Got to stay focused. I’m going to really try to remember that every single day when I sit down to trade, to be grateful for this opportunity to trade the markets each day. It’s an incredible career, and I’m so grateful for days like this.

I want to respect the risk of the market a little bit more, because sometimes I just take too much risk and I’m overconfident and I’m too aggressive, and, boom, market gives you that quick reminder. So let’s see if I can tighten it up for February. Off to a good start, but it’s only three days in. I’ve got to keep it going.

So that’s it for me. I really hope this has been helpful. Again, usually these are reserved for Warrior Pro students, but I thought that with some of the losses in January that there would be some good lessons to share with you guys. So I hope you enjoy it. Give me the thumbs up if you do, and, as always, questions, comments, leave them down below, and I will see you guys in the next video, which will most likely be my next Midday Market Recap. All right. See you guys soon.

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