July Review-August Goals

A good amount of trades this month and good progress on processes, mixed results.

The good news

I managed to capture 4 breakouts at more than 15% and 2 breakouts at more than 25%. In EPs, managed to capture 27% in CVNA.

The bad news

Made a very big amount of trades where I encountered losses, being stopped out. I got back in IONQ 4 times, got stopped out, and then the classic happened…the ticker started to run. On APLD (EP trade), I managed to get a very good entry at $8.19/share with a nice potential profit (32%) and hoped it will continue to run but got taken out yesterday at 0% gain.

A break-even month that showed there is still a good amount of work to do. The experience reminds me a lot the times when I started to learn how to play tennis. After getting more comfortable with the game, there was a stage when I consciously knew how to serve, how to defend, how to get offensive, how to tactically position my shot (down the line, cross-court, at the net etc.) but even so, it was not happening in reality. I was not fast enough, I was not accurate enough, the ball was not going where I intended to, and even if there were nice shots from time to time, I was overall losing the game.

I assume the next 6 months, every day will be a day of practice and training. Like a tennis player practicing his shots, a piano player practicing his play, or a Formula 1 driver practicing to be accurate at high speed, I will have to practice to get good price entries (possibly the most challenging part for me at the moment), and have an offensive-defensive trading to capture gains and diminish losses.

While trading, I saw another element of complexity within the breakout setup that I decided to study closely. Results are summed up, the news are not good, but I am happy I put the effort to study this thing and have this extra layer of data that for sure will impact the trading strategy. The results will be shared within one week on YouTube, make sure to see that video.

August Goals

- Adapt the trading strategy considering the new results.

- Practice getting good quality price entries in the breakout setup.

- Watch 1h of Qullamaggie videos per day.

- Present July measurements on YouTube.

Self-Leadership and Mental State

A bit difficult. This month it was hard to breakeven. Even after so much effort in studying the setups, making $1k per month from trading to cover my living expenses sounds like a big challenge considering the skills I have at the moment. Potential pressure may be ahead as the personal budget will start to deplete. There is a very good amount of progress and a qualitative understanding of the setups and how the markets work, I see the practical skills are not sharp enough. The ball is not going fast enough, and accurately enough where I want it to go. Practice time!

Wish you a good month ahead,

|@flow