August 2024 Portfolio Review
Mythic Prop Portfolio
Disclaimer: Mythic Market Research, Inc. is a proprietary trading company. Our posts are primarily for educational and entertainment purposes. Please note that they do not constitute financial advice.
Hey there! Welcome to our Substack, and thanks for subscribing.
August has ended, serving as a reminder that life is about more than just trading. Engaging in trading can sometimes isolate us from our loved ones and distract us from being present in the moment. Every moment we spend with the people we love is a precious gift that should be cherished. While trading is a fun and challenging endeavor, making time for your family and friends and being fully present with them is essential. It is a fantastic gift!
Our trading has been great. August was our 5th winning month, and we finally regained the Nasdaq 100 Index. At one point during the month, we were up more than 10%, but we also experienced ten losing days in a row. Trading never ceases to be tricky, even when you’re winning. Our Wand OG portfolio has been doing really well, while Zoo has been struggling. The best I can say about Zoo is that it has really cost us money. However, there is good news. As I sit down to write this monthly review, Zoo has made a comeback, but that will show up in the September post.
Consolidated Portfolio Performance for August: +3.50%
Wand OG Performance for August: +7.45%
Mythic Zoo Performance for August: -2.43%
Consolidated Portfolio Performance Since Inception: +27.19%
Wand OG Portfolio Since Inception: +51.60%
Zoo Portfolio Since Inception: -1.99%
Final Thoughts
Our performance reclaiming The Nasdaq 100 has been an enormous relief. Against all odds, it has performed remarkably well this year, making active trading look bad. Throughout the past year, there were moments when we shook our heads and wondered why we put ourselves through this kind of suffering. Trading is a mind game that triggers intense emotions of fear and greed. All it takes is a few great weeks to get excited and a few bad weeks to feel like you suck again. I repeat this too often, but, sticking to a process to systematically exploit an edge is all we control. We wrote an article titled “+EV Maximization” that lays out a thesis on how to reduce portfolio variance using Blackjack as a case study. If you haven’t read it, I would highly recommend it!