As many of you already know I try to post my monthly performance report on the first Friday of the month. It simply was not possible to get it out to you earlier than Monday this time.
May was a devastating month ending with a realized loss of 22% and open positions well into the negative.
In order to lighten that burden and move forward the majority of the negative positions have been closed taken as losses on the first day of June allowing me to begin again anew.
It has been a very difficult period. Coming off of the first three months of gains 32%, 28%, and 63% respectively it has been extraordinarily difficult to enter into the most recent period of not being able to profit. The confidence was extremely high entering April and then by the end of May was defeated. I feel terrible for all of those who began investing since April and the losses we are experiencing. I am here to turn that around now and continue back toward our goals.
There are many reasons and factors to what could have caused this tough period. Over confidence at the end of March was among them and since I have been humbled. Increasing position size does not lead to increasing profits because by changing a variable everything else in the equation changes too.
In order to turn the corner and move back into the zone I needed to do a couple of things. First, to take further losses in June freeing up the overhead pressure, and as you probably have already noticed return to trading much smaller in size. I’ve returned to the position size of March when the monthly gains where by far the highest and the position size were also the smallest. By returning to smaller size I’ve taken away the pressure to preform and can simply trade the market.
After taking large losses on June 1st my goal is end this month in the green but at this particular time taking gains from here of 15-20% monthly will be more than acceptable to me, it is still a great success, and wait for larger gains of +50% or whatever to occur as they do without forcing them. The goal is to average 30% per month and 2,000% per year.
I am smart, knowledgable, and very capable. I feel confident we are back on track to reaching all of our goals.