I made $396,000 in October Day Trading (2023) | Month Recap

I made $396,000 in October Day Trading (2023) | Month Recap
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Trading Story

$396,000 is what I made day trading in  the month of October and in this video I  want to break down exactly what trades  I’ve taken what my trade process was  what days I traded what the best setups  were what are things. I did great and  what are things I did bad I just want to  walk. You through a whole trading month  and just give you guys an insight to my  performance so with that being said  let’s dive into it.

Approaches

Because we are all trading  with different risk size different  account size we have a different  approach to the market just from the  risk side right forget what our approach  is from Traders and so on but from a  risk perspective we are all risking  different percentages uh. We all have  different account sizes as mentioned but  what we can look at to analyze  performance is R multiple now what is r  multiple is R multiple is basically. If  I’m risking $200 on a trade and let’s  just say I make  $600 R multiple is saying my R multiple  on that trade was 3 R meaning I made  three times. What I risked on the trade.

 

Risk Multiplier and Financial Outcomes

If I made $10,000 I made 61 times. What I  risked whatever that risk amount comes  to maybe I made $30,000 I made 61 times  what I risked in terms of R now going on  to each and every single day if we look  at some days I you know made or lost 3.6  R so I could have been risking or let’s  say risking $1,000 here right if I  risked $1,000 here I lost about  $3,600 right if I was risking $1,000 I  lost about $36,000 so if we go into this  day and we take a look right. I lost  $29,000 right and obviously the amount.

Daily Risk Analysis

I  risked was about $10,000 but I ended up  losing a lot more than what my R was  same thing if I go into one of these  days I have a 2 R I have a three R I  have a seven R I made seven times what I  risked okay .

Advantages

I had a strong start around  11 12th I kind of got a little bit shaky  13th I didn’t go in with a lot of risk  so this week of 11 12 13 when we come  here right 11 12 13 I’m kind of confused  on what the market direction is and then  the next week is where I got really  really comfortable or a little bit more  comfortable as you guys can see to take  on trades same thing again 18th 19th uh  missed out on some days uh wasn’t sure  if we’re going to see a continuation  selloff same thing on the 19th even  though in the 19th

I execute my short position for the day, allowing me to capitalize on the trading opportunities. Moving into the trading action, you can see the same pattern. At 10:55, I enter, witnessing the rejection at the opening area. I promptly go short and capture the low of the day.

In this particular instance, although I didn’t achieve a perfect exit, I am content with my entry. It’s essential to acknowledge that not every exit will be flawless, and that’s acceptable. I successfully obtained the low of the day, which aligns with my risk management strategy. For this trade, I risked $7,500 of my capital, even though I committed $37,000 overall.

Now, transitioning to trades that did not meet my expectations, let’s focus on a couple of days in November.

Surprises

When I review my profit and loss statement, the last metric I consider is my profit and loss itself. There are months where I experience favorable financial results, but my trading execution is subpar.

Shifting Focus

As you approach November, December, or the end of the year, consider initiating a weekly review of your trades. Identify areas of strength and weakness, and concentrate on refining your process rather than obsessing over your profit and loss. for Sustainable Trading Success

I encourage you to adopt this practice to elevate the seriousness with which you approach your trading. Thank you for tuning in, and I look forward to sharing more insights in the next video.

 

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