Q2 2020 Performance Report

As expected in this game the learning never stops. I think I took a lot more lessons out of Q2, but sometimes it is hard to know. It’s always easier to look in the rear view mirror and think about things that you should have done differently.

Looking back now on the market we have seen for the past 3 months it’s fairly clear for me to be able to say I should have changed gears quicker and been more aggressive but it definitely didn’t feel so clear in the midst of it. I was aware that trades were moving strongly and that there was good money on the table but the lack of rationality in it all is something that I can struggle with adjusting to in the moment. There is a reason why people from all walks of life can do well/poorly in the market. It’s not a game that always makes sense, and it’s definitely not a game that always feels right.

This is my next area of focus. I have to grow from an emotional standpoint to become more detached in order to improve my results. I have become a lot better with my discipline around both entries and cutting losers which is the first stage of progress. The next focus is letting winners run. For me I often still let the fear of giving back gains outweigh the reward of holding on to a winning trade to maximise gains. Often when I sell these winners there is no legitimate reason to do so. FA and TA are usually still in tact. It sounds stupid when I write it on paper but that’s what makes these things harder and part of the journey. I guess the upshot of that is that it means I can see that I can become a much better trader. The foundation is in place but also the path ahead.

A significant portion of my gains for the quarter came from gold longs which is no surprise but I did also have some decent TA only winners in other sectors. My wine rate for the quarter was quite high at around 80-85%. This should have been an indicator for me. “Don’t confuse a bull market for brains”. I don’t think I am that good but it should have told me the market was that good and been a clue to push a little harder while the opportunities were there.

With all that said my Q2 performance was:

MonthAprilMayJune
Performance10.00%8.84%2.89%
Total Return23.18%

As mentioned last quarter I will be benchmarking myself to ASX200 Accumulation + 2.5% per quarter.

Total Return 23.18%
ASX200 TR + 2.5% 19.00%
Variance +4.18%
6 month Total Return14.26%
6 month ASX200 TR + 5.0%-5.40%
Variance+19.66%

So whilst I have acknowledged that I didn’t push hard enough in Q2 I did manage downside risk during Q1 and still outperformed by benchmark in Q2 to have a handy out-performance over 6 months.

It was important for me to go back and remember what my game plan was as looking around twitter can sometimes get in my head when I see the numbers other people post. At the end of the day though it’s not about those. I should be inspired to do better by the people that are killing it but that is all. Focus should be on my self and improving my own game as I continue on that journey. So in remembering that I am thankful for where I am at and ready to keep pushing.

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