August Performance Review
August 2022 - First month as a full-time trader
From a full-time European Product manager I am switching to Full-time Trader. I will share my journey to keep myself accountable, but maybe you will find something useful while reading this.
Trading:
- +$350 for the month (from more than 50 trades). I consider it a success. Learned a lot of things and am happy with how the month went even if I did some rookie mistakes.
- Trading with very small positions of $1k per stock, very hesitant as I don't afford to lose.
Education:
- attended Stockholm boot camp end of July which set me up for a productive August
- Spartan Deep Dive Done: made 4500 stock deep dives on Bullish MB; reviewed more than 50 members' deep dives;
- listened again to 2 boot camps of Pradeep from last year and some Q videos.
- didn't miss any of the 9 AM calls on zoom with EG
- making the first steps in building my processes and factories
There is a lot of work to be done on the foundation of my trading knowledge and I dedicate a lot of energy, time, and focus to increase the depth of my knowledge and practical skills. Some good, interesting work ahead…
Innovation:
Notion -is assigned as my main note-taking and project-management app. I am happy to see that it gives structure and keeps my ideas within an organized framework, makes me decluttered, and frees my mind.
Snagit - is assigned for taking print screens while I do deep dives (super convenient app). I have a Ctrl+Space shortcut on a specific area of the screen and make a shot whenever I find the need to save it, and then copy it to PowerPoint.
**Briefing.com** - is used to build my SA but also to learn things about the stocks I identify in the scans. At 1 PM EU time, I start reading their summaries “ Overnight Brief, Asian market summary, EU market summary, Morning Reading Summary, Wake up call Briefing.” These summaries help me set my situational awareness for the day.
Koyfin - is used for earnings and sales trends. They have a super cool and useful representation of sales in a graphical view, which helps me a lot in evaluating the strength of the company and it gives me a couple of points of confidence in the trade if I see good sales and earnings trends YoY. I posted details in another recent post.
One browser per group of tasks to make it easier to access what I need but also more convenient to display tabs on multiple screens. I split them as follows:
- Chrome for Stockbee forum, Google Calendar;
- Brave blocks some annoying ads so it is assigned to the news tab: WSJ, Bloomberg, Zacks, The Fly; Briefing.com, Barron
- Firefox assigned for Koyfin
Timer- watch - a watch that is set with 45 min time blocks and which I keep on my table is giving so much structure and organization to my day. I will share more details about it in another post.
Processes/ Habits:
Incremental adjustments - I have a lot of gaps in processes and understanding all across the system of habits and what I do. From software to different parts of my trading strategy, to how I plan the day for productive work and trading. All across are gaps. I now focus on fixing them through incremental adjustments to build better processes and habits.
Build the Second Brain - staying super organized is not my superpower, but I understand that I will fail short of my potential without implementing a good project management system. Being inspired by the “Build your second brain” book and video on YouTube on the topic I decided to implement this system step by step on my side. I am not fully there yet but I am working to learn and build my second brain in notion.
Self-Leadership & Mental State:
Staying organized, disciplined, motivated, energized, and healthy while working on my projects and not for a company or under the pressure of “not allowed to miss corporate deadlines” was and is giving me anxiety. I was not sure if I can make myself accountable to myself but also, it's an overall big change for me as I am moving from a full-time job as a manager where from 8 AM till 6.30 PM people will always need my time and pull me in different topics to a situation where I have all day for myself. I need to make the best out of it and there are a lot of resources and knowledgeable people on the Stockbee forum that could help me to do so.
September goals for the month coming soon…
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