September 2017 – Monthly Summary

September 2017 Daily Summary

Took a hiatus from trading:

  • Japan trip first two weeks of September
  • Busy few weeks in the office shortly after

 

 

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July 2017 – Monthly Summary

  • Down on the month by (46.83%)
  • On 6/30/17 started with $2,934.42, as of 7/30/17 @ $1,560.10
  • Five trades, total realized P/L: $(1,369.07)
    • AEZS +$10.98
    • ATHX $(13.02)
    • CERU / DARE $(1,433.92)
    • MSDI +$57.83
    • VSTM: + $9.06

NAV July 2017Trades July 2017

Takeaways:

  • Don’t bet on a comeback from a conference call
  • Don’t bet on a comeback after a reverse stock split, ESPECIALLY when the firm in question received notice from the NASDAQ about keeping their stock above $1
  • Don’t fall for confirmation bias more than once, I found myself searching the web / news / stocktwits / seeking alpha / etc. looking for something to confirm that this stock was going to make a come back and that I would be rewarded for holding and hoping.  I was looking for Ovaprene (flagship drug that DARE is developing) to be a game changer, but their game plan is far out, two years – not now.
  • Don’t fall for wanting to be right over making money.  I was wrong, I should have cut my losses as soon as my mental stop was hit.
  • Respect your max loss for each trade.  Focus on minimizing the downside, the upside will take care of itself.  Instead of focusing on the amount of money you can make from a trade, focus on what is the MOST you can risk losing.
  • Trading without a system, is asking for disaster.  Focus on three things:
    • Trading Methodology
    • Money Management Technique
    • Best Markets for Setup

Books Read YTD

  • Mastering the Trade – John F. Carter
  • Reminiscences of a Stock Operator – Edwin Lefevre
  • Unshakeable – Tony Robbins
  • The Disciplined Trader – Mark Douglas (half way through currently)

Net Worth Update

  • 5/14/17: $30,000
  • 7/30/17: $40,000

June 2017 – Monthly Summary

  • Down on the month by (2.19%)
  • Started with $3,000, as of 6/30/17 @ $2,934.42
  • Five trades, total realized P/L: ($65.58)
    • FOLD +$5.99
    • IMGN +$64.04
    • DCTH ($0.31)
    • FRED ($151.85)
    • AVEO +$16.55

06-17 Trades

Takeaways

  • don’t put in trades past midnight when you’re not at 100% mental capacity
    • w/o the FRED trade I’d be up $90
  • don’t place a trade without confirmation (news, contract, price action)
  • follow your entry and exit targets
  • target a 1 to 3 risk / reward ratio
  • don’t hold and hope, that’s not a strategy