July 1 - 31, 2024 Performance Realised + Unrealised

Realised PnL is all the hard work from trading activities that contributed significantly to the overall ROI.

Unrealised positions caused a big drawdown in the overall monthly PnL.

Trading is the world's hardest easy job. It requires a lot of skill and emotional control to balance patience with quick decision-making. Master it, and you're among the top 1% of traders globally.

Many institutional and retail analysts can provide excellent stock and macroeconomic analysis, but many of them struggle to trade their own money effectively.

This July was a very good month for me despite the long-term holding eroded very fiercely.  The day tradings proved to work well but extremely tough. However, the big size bets require precision.

The monthly PnL in moomoo's trend analysis shows a $24,666.86 difference compared to the calendar monthly PnL. This is likely because the trend analysis didn't account for a significant realized loss of $33,930 from shorting NVDA on July 31st. This loss occurred due to my mistake of napping from exhaustion.

In July, I realized several five-figure day trades. This marked an increase of gain ls over 50%, compared to my gains in June 2024.
However, a significant loss from shorting NVDA on July 31st erased 45% of these gains. Holding the short position too long was a huge mistake. The next day, on August 1st, NVDA finally dropped to a pre-market low of $105+. My reading of the price action was correct, but the short was influenced by AMD's earnings report.

Lessons Learnt
1. Don't hesitate to correct a bad trade.
2. Avoid trading when too tired.

Which type of investor are you?

Long-term holdings eroded quite a lot of my hard work gained from day/swing tradings from Feb to this month.

From my experience, timing the market is often for those without significant wealth. Time carries risk, as seen with recent tech stocks on July 31 and August 1. Intel dropped 20% overnight, NVIDIA went from +6% to -6%, and AMD plunged over 8% after a 10% rise. More volatility is expected. Don’t blindly follow the “time in the market” mantra; chasing FOMO can lead to significant losses. Timing the market, though difficult, is crucial. A 50% price drop requires a 100% increase just to break even.