As I did last year, I have once again decided to share all my trades from the past year. I know most traders do not do this and at it could potentially damage my reputation, but that is something I care very little about. I want to share with you something that is real and tangible. All traders have bad days, weeks and years and therefore, being honest with them is the best thing we can do. There’s a reason why when you go to an AA meeting one of the first steps is to admit your problem, then you can move on. If you are too scared to admit your flaws, you have many more flaws than you think. Same goes for traders, for those who are afraid to admit their wrong, they have a lot more problems and flaws with their process than ones who are willing to admit their pitfalls and learn.
This all being said, I do not think I have performed in 2015 as well as I should have. There are many things that looking back on it, I shouldn’t have done or should have done differently. Below are a few of these things:
- I let way too many losers turn into big losers, this is mostly because I thought they would turn around and they didn’t. This is a careless error and should not have happened. Honestly, I lost more money than I saved when assuming my stock would turn around “right now”, instead of following my rules and exiting the stock at the stop loss area.
- I also did not trade my perfect pattern as much this year. I think this is for two main reasons:
- There were not as many Coghill Flags in 2015 as 2014, simple as that. Therefore, I traded slightly different patterns such as day trading.
- I did not use patience when looking patterns at points throughout the year. When I had good winners and was on a streak, I would assume I could bend my rules a bit and not wait for the set-up to be perfect before entering it. This ultimately lost me more money than it saved.
- I was timid with trades. When I was having a losing streak, I would be quick to take profits off the table. In 2016, I need to improve upon this and wait for the stock to do what I expect it to do, such as set a target price and move the stop loss slowly and methodically – even if that means turning a winner into a loser, this is justifiable, sometimes.
These are my three biggest mistakes of 2015 in which I want to improve upon in 2016. I think it will take a lot of time for my mentality to be completely rid of all these things, but I want to start to improve now.
Some people may wonder why I publish these returns at all and whether or not I want to manage money. The answer is: yes and no. I perhaps want to manage money one day, yes. However, I do not think I want to go into a full-time hedge fund management position. It’s just not something I want to spend that much time doing. So, for those people over the years that have asked if I manage money, currently; no. In the future, perhaps, given I do it selectively and are a small scale.
Now, onto the trades! But first, the overall performance with a chart relative to the sp500, on a gross basis. I finished the year up 5.87%.
Below are all the trades for the year, comb them over and learn or examine them. Enjoy.
As ALWAYS, if you have any questions or concerns or questions, you can send me an email here: EMAIL