Here's a great blog post by @SmashTheBid detailing his trading last month. It does a great job of illustrating some things I've been harping on for well over a decade. Namely:
- You don't need a high win-rate to make money. He made that $220K with a 62% win rate. The key is to keep your winners bigger than your losers and to have a positive expectancy
- You can make money on non-penny stocks! He made significant amounts of money on stocks priced over $20 and those priced under $20. And many people wouldn't even consider trading stocks above $5 or $10! (It drives me crazy to see people focus so much on low-priced stocks. You should think in amounts of money invested and percentages, not number of shares and points!)
- There's a lot of opportunity on the short side. 40ish % of his profit came from shorting.
- It's important to keep and review a trading journal.
- It's critical to have a plan and stick to it.