Markets had a nice run on 31st to end the year. I closed with highest ever returns on my day trading account for the year in my 3 year trading experience, while the IRA account mimiced SPY returns for the year.
Day trading account - 54% (incl commissions, pre-tax)
IRA account - 14% (incl commissions)
For records my returns for 2011 were 30% and 2010 were about 14% (partial- year).
Btw, I should thank you guys as well. My returns for December were great and I attiribute it me being more organized and dilligent since i started writing the blog. Planning your trades and executing per your plan is key part of being a successful trader.
Hope you guys benefited from some great calls in December. Finacials (C, GS, JPM), CLF, FSLR NEM were some of the great calls. CLF is up >35% since my post on Dec 3rd (CLF - Positioning for a bounce) and FSLR is up 20+%
While I had some great trades throughout the year, losses on some of the trades pulled the returns down by quite a bit (e.g. lost $30 on ISRG in a day). I'm setting some simple trading goals for 2013 that I will try to follow dilligently.
1) No setups no trade. Focus on quality setups.
2) Set stop loss targets for each trade.
3) Minimize the number of trades (i tend to overtrade, which usually results in sitting on some average stocks)
4) Always have risk/reward in your favor.
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