Month P/L: +14.39%
YTD: +26.3%
February was kind of a rollercoaster for me. Early on in the month we had IWM/MDY break out from flags and I was prepared, very heavily on margin, and things were working out beautifully. That is until fed day. Thankfully I was trimmed up prior to the release but the gap down still put a damper on my great start to the month. Following that, I just observed a lot of chop and wasn’t really interested in putting on any major exposure. A few things worked, other attempts took away any progress, so the entire middle of the month essentially was flat for me, just spinning my wheels in the mud. I was entirely prepared to end this month slightly above breakeven but the last week of the month was somewhat of a silver platter with bitcoin, miners, and AI hype coming back which propelled me to outperforming last month which was a really good feeling. What’s crazy is these trades I took the last week that pushed me to new highs in the equity curve were all on half size. I mistakenly forgot to switch my sizing tool back from when I wasn’t excited about any trades, and unfortunately lead me to being undersized on CLSK, SOUN, and BITX, although BITX is now my second biggest trade of my career. Just crazy to think of what my month might have looked like if I was risking what I normally do. I have since adjusted my sizing tool to show both sizing options to avoid anything like this again.
I think a big turning point in my development as a trader occurred this month, realizing I am much much better at trading EPs/SIPs than I am trading breakouts. I think it has a lot to do with trades coming to me, ie; news, instead of going and looking for things to trade. My EP performance is more than 5x my breakout performance, and I only trade 1 EP for every 3 breakouts according to my stats, which I plan on reversing. I am a breakout trader at heart but I do have issues trying to force things in unfavorable environments, micromanaging, anticipating, and sometimes just difficulty getting a good read overall. So if I focus on the very special breakout opportunities in the market, I think I will have much better performance moving forward.