Q3 Performance Report

I started my 2019 trading year with a few goals that I wanted to achieve. They were as follows:

  1. Improve my processes around the way I trade
  2. Improve my mentality around the way I trade
  3. Learn to use TA as part of my tool kit.

So ¾’s of the way through the year seems like a good time to review this and see how I think I have gone.

  1. My processes have definitely improved from where they were at the start of the year. I have got a lot better at documenting my trades and outcomes and overall tracking of my portfolio. I have improved on knowing why I am taking a trade in terms of rationale and timing as well. But all in all, I would say I still have plenty of room for improvement.
  2. My mentality in some aspects I think has improved but something I am still noticing (particularly in the last week or two) is that I can be impatient. When a play I am seeing takes more time to develop than expected I can start having some questions about my thesis. This has led me to sell some plays earlier than I should have which has an obvious flow on effect to performance. Therefore, this is something I can definitely tighten up and I know time in the market and confidence/conviction in my own processes/skills will lead to more confidence in my positions and outcomes.
  3. I feel like this is the point I can most clearly see my progress but something that I still want to get a lot better at.
  4. I am adding in a new goal/objective which is to improve my execution. This is really the end goal as picking winners and setups doesn’t mean much if you don’t bank. But at the same time, it’s not an isolated goal. It is the culmination of improving the other goals above.

I have been fortunate this year to talk on a regular basis to a few people in this game that I consider to be better than myself. This has a couple of clear advantages. Firstly, it helps me to understand the way other successful people think and look at situations. It’s not about getting tips, it’s about helping with my processes and mentality. Secondly keeping company that I consider stronger than me drives me to improve myself.

Quarterly Performance:

Month July August September
Performance 6.24% 4.81% 3.84%
Total     15.62%

As I mentioned in my last article, there are probably plenty of people on twitter beating these returns (or at least claiming to) but that is ok. I am aiming for consistent and sustainable and using the goals above to drive me towards trying to achieve this.

The largest contributors towards this performance has been Gold and Nickel stocks with smaller contributions from some tech/bio names. I am happy with this as I have been predominantly mining focussed which can be a limiting factor at times, so trying to expand into building knowledge in other areas.

As mentioned earlier some of these positions are frustrating me a little and have been lagging and/or pushed around on low liquidity. For now, I am trusting in the process and believe that these plays will catch up but that is yet to be seen.

Have had a fair allocation to cash throughout the quarter to allow me to take positions as I see them but also probably held back on size a bit due to working through improvements.

Happy to accept any comments or criticism that anyone has. Thanks for reading everyone.

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