sigh... first of all, let's hope that April doesn't turn out like February, which it shouldn't since earning season is kicking off. I was going to keep all the goals I had for March and use them for April but I had one day that I slightly overslept last week and broke almost every one of them. I didn't get into the office on time and hit my daily loss limit (maybe it was raised since I didn't get one of those "are you ok?" phone calls but still, I'd like to keep daily losses under a certain level). I can't say if the company tournament had any effect on my P&L... that one bad day I just kept adding to a loser and that was just dumb.
I've been trying to trade the trend, where if the market is going strong I'll buy on retracement and if it's week I'll short the bounces. I'm still trying to refine my entry points and I need to know when to get out when the trend it breaking. It's been working ok, that sometimes if I take 200 or 500 shares and I have very good risk reward. The times that have burned me is when I keep adding to a loser. I think I'll keep my rule of not trading a stock more than 5 times and that way when I get in a trade the signal is usually stronger so I'll take slightly bigger size and add to them slightly up to a certain point.
April is what I call "control the controllables" month, here are my goals:
miss no more than 2 days
in by 8am everyday
never hit daily loss limit
no down weeks (I seen to be able to work towards my goals if it's weekly instead of monthly)
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