I didn't finish the month the way I wanted to, having lost almost $1000 this week (most of it today, the last day of the month). There's long ways to go and while I posted my 2nd consecutive winning month, I'm still falling very short of my goals and potential. This is a great time to think about my trading the previous 3 months and find areas for improvement. I will post some changes in my trading this year as well as repetitive problems, and then write out a plan for trading in April.

     Year-to-date, I am up about $1000. I don't have a specific # to hit by year's end since I don't know where my potential can take me. $100k isn't a great number if you're good enough to make $300k. Staying true to that statement, making $50k isn't as bad as it sounds if that's what my potential and skill set gives me. The pieces are coming together, however. Let's start with what I find to be important in my trading:

• It is important to me that I have at least an hour to prepare for the day and getting comfortable.
• It is important to me that I search for and execute high probability, low risk setups.
• It is important to me that my trades have the potential for 3 units of reward per unit of risk.
• It is important to me that I document all of my trades in my journal for further review.
• It is important to me that I stop trading for a few minutes to reflect on my trading midday.
• It is important to me that I review all of my trades at the Close and update my blog daily.
• It is important to me that every weekend I recap the week and reflect on my performance.
• It is important to me that I do all that I can to improve my trading skills and performance.

• Live to trade another day. Don't put yourself too deep of a hole in the beginning of the month (day).
• Take trades that have the best odds of winning. Trade stocks that have the best odds of moving.
• Arrive in the office with ample time to prepare. The last minute bs won't jive in the competitive market.
• Journal and document all trades. Review what works and what doesn't.
• Don't overtrade when the market gives you nothing to trade. I don't have to make a trade.
• Take frequent walks when I feel like my game isn't on for the day. Don't get stuck to the chair.
• I kept thinking that I had to trade every session. Making no money is still better than losing money.

     Finally I wanted to discuss some of the short-term (and realistic) goals for April. My daily loss limit will be $1000. I'm a firm believer that if I net 5 losing trades, I need to stop trading for the day. Hence, to maximize my daily allotted capital, I will give each trade up to $200 of risk. I don' think it's okay to get stopped out of the day, but this is just protection in case. Also, there's a reason to be selective and choose the best times to trade. Think about it. A good winning trade (one that yields at least 3x the risk) will make me $600. One Good Trade (shout out to Mike Bellafiore) a day would yield me $12,000! Can I stay true to this concept and discipline? It is up to me how April goes. The market may decide whether or not I make money, but it can't force me to lose money. I've sacrificed so much already for this opportunity. I don't care anymore how long it takes me to get through this learning curve. As long as I get better each day, I'm just going to take the market one day at a time. Believe twice as much in yourself, especially if no one else will.

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P.S. Here's some playful math. If I yield One Good Trade a day (5 a week), I could make $12,000 in April. Below is a chart that reflects what if I can better my performance and yield two, and so on. Doesn't hurt to visualize success and see what I'm capable of if I can keep my discipline level high.

Where will I be after the first trading week? Place your bets right here!

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