April 25 and Week of April 21 Recap

Trump tweeted. We didn't panic. Plan worked. Execution solid.

Plan this afternoon was to wait for a deep pullback into the ribbon. We got it in a hurry 'due to' a Trump quote about China and tariffs... Without the plan, I likely would've convinced myself that we were going to full on reverse and we needed to take puts.

However, we had a plan. We had patience. I even got in "late." But, was I late or did I properly wait for confirmation? My job is not to time the bottom or the top, rather wait for the system to signal there's a high probability setup. Then executing the plan without worrying about the individual trades outcome.

I entered calls on the pullback to the 10/13 after the 10/8 had fully recovered. Level to level suggests I exit near the call trigger / previous HOD. I did that with half the position, but the other half I convinced myself that we would continue much higher.

Of course in hindsight I could've and should've just exited everything at the call trigger, been content, and went about my day.

Regardless, I had a profitable trade, with a well justified entry, with proper sizing and risk management.

I exited fully and saw that my thesis that we would continue higher, was still in play. Plenty of reason and justification to get back in, but I've taken my slice of the market for the day, so there's no need to take on more risk heading into the weekend. I had a solid week. And, that confidence will compound greater than any individual 'extra' win could compensate for.

WEEKLY RECAP

6 trades. 5 wins. 1 loss. 83% win rate. Returned 16.5% on the portfolio this week.

As is my nature, I will spend some time on the loss... Two issues: First, the trade was no according to the plan. I became impatient and entered the position far too early. Second, and WORSE, I didn't stop out as quickly as I should of... Hence the loss on a percentage basis was so high. The following trade, which was the only entry I should've considered to begin with was sized to more than 'cover' the previous trade. However, I should not and cannot size larger than risk allows. And, because I did, I exited quickly, thinking solely to cover my gaffe vs. focusing on the PA which signaled clear continuation. If I had just taken the stop as planned - even on the unplanned entry - that still would've left me far better off and in more emotional control to execute the plan once price reached entry levels.

Now, to focus on the positive! 83% win rate. Only 6 trades were needed to earn 16.4% on the portfolio for the week. Given this is an income generating portfolio, I withdraw most of the weekly profit every Friday. While this keeps me from compounding, it does keep the lights on! Also, for where I am in my journey, I'd rather consistently execute with the same position size to build confidence and down the road potentially withdraw less, let the portfolio grow and with it position size.

While I had some errors, I'm incredibly proud of my week. Especially with my dedication and consistency to publishing my analysis and daily recaps.