Dismal would be a good word. March was almost as bad for us as it was for Julius Caesar.It didn't start that way. We had made good profits on our 1st Gold trade, 3rd Gold trade, QIWI, QIHU, NFLX short, and we basically pissed it away on our TWTR and ANV Trades. We finished down 17%.
Two mistakes out of 10 trades. The problem was that we did it again...We broke our golden rules. That's been our problem for a long time. The rules are there for a reason. The reason is that your instinct is a collective for your rules. It is pure. It is everything you didn't think you knew but you do. They are there to protect you.Never break your trading rules. Never.
Rules Broken:
1. Never bet on a Earnings Report. It is a total crap-shoot. Our Twitter trade was a big loss.
2. Betting too big and not having tighter stops. Bigger bets should always have tighter stops. ANV was case in point. Stops were waaaaaay too wide. Thank goodness our Fail Safe and a little luck pulled us out at non-critical loss point. Still we took a big hit; hence, the negative 17% return! Just plain greed and stupidity on that one.
Outlook for Q2:
We like it. Most of the trading bugs have been fixed. We think our current trading program has a good chance of doing really well this quarter. Our capital is in place, our strategy is sound, our execution plan is set, and our stops are firm.
Let The 2nd Quarter Begin!
