A mid-year trading review should take 30 minutes and end with one written action. Its job is not to explain every trade. It is to stop the next six months from repeating the clearest mistake in the first six.
You can run this review at the end of June or six months after any chosen start date. Keep the period fixed, use the same dates for every comparison and set a timer for each stage.
Minute 1 to 5: compare the half fairly
Start with account performance and a relevant benchmark over the same dates.
Do not compare a return that includes deposits with an index return that has no cash flows. Separate contributions and withdrawals from investment performance. If you added money during the half, use a portfolio return method that accounts for the timing of those flows, or split the period around each material flow.
Match the benchmark to what you traded. An Australian large-cap portfolio might use an S&P/ASX 200 total-return benchmark. A US portfolio may need a US index in the account currency. Include your trading costs, and compare like with like on dividends and currency.
This first check asks whether active decisions added value over the available alternative. It does not prove why.
For a full benchmark workflow, use are you beating the index?. Keep this 30-minute review focused on the decision that follows.
Minute 5 to 15: rank setups by result and sample
Group closed trades by setup or strategy. Record:
- trade count
- total R
- average R
- win rate
- largest loss
Sort by total R first, then read average R beside the number of trades. A +1.5R average from two trades is a clue, not enough evidence to scale a setup. A modest positive average across 25 trades deserves more attention.
Do not delete a setup after one weak half without checking market conditions and execution. Flag it for a deeper review.
Minute 15 to 20: inspect the five largest losses
For each loss, mark one category:
- valid setup and rules followed
- invalid setup
- position too large
- stop or exit rule broken
- gap, slippage or another execution difference
A planned loss is evidence about the strategy. A rule breach is evidence about execution. Mixing them produces the wrong fix.
Count repeated categories. If three of the five largest losses came from oversized positions, the action is clearer than a broad promise to trade better.
Minute 20 to 25: find the repeating pattern
Look across the six-month timeline:
- Which month caused the largest drawdown?
- Did losses cluster after a large win or loss?
- Did one sector or theme account for most losses?
- Were results different in trending and ranging markets?
- Did costs rise with a burst of extra trading?
Choose one pattern that appears more than once and can change a future decision. Avoid explanations that only describe the outcome, such as "the market was bad."
The broader trading performance analysis guide helps when this timed pass identifies a question that needs deeper work.
Minute 25 to 30: write one action
Finish with one behaviour, threshold or setup rule for the next half.
Weak action: "Be more disciplined."
Usable action: "Do not open a fifth correlated position."
Weak action: "Improve exits."
Usable action: "Review every target reduction and compare it with the original exit rule."
Give the action a measurement and a review date. One observed change is more useful than ten intentions.
Copyable mid-year review worksheet
Review period:
Opening account value:
Deposits and withdrawals with dates:
Portfolio return method and result:
Benchmark, currency and return basis:
Benchmark result over the same dates:
Setup review
Setup | Trades | Total R | Average R | Win rate | Largest loss
Five largest losses
Trade | R | Rules followed? | Loss category | Lesson
Repeating pattern:
Evidence for the pattern:
One action for the next half:
How I will measure it:
Review date:
Worked one-action output
Assume a hypothetical trader completes 32 trades. Their breakout setup makes +8R across 14 trades, pullbacks make +3R across 12 trades and six unplanned trades lose -5R.
Three of the five largest losses are unplanned entries taken after another position moved sharply. The review does not need a new indicator. The output is:
For the next six months, no order is placed unless the setup and stop are written before entry. Measure the percentage of trades with both fields completed. Review after 20 trades or at year end, whichever comes first.
That one action targets the repeated leak while leaving the profitable setups alone.
Keep the review reusable
September does not make a mid-year worksheet stale. Choose a six-month period, state its dates and run the same five stages. The value comes from a consistent checkpoint, not a particular calendar week.
Swingfolio keeps trades, strategies, R results, fees and notes together so the timed review can focus on the decision rather than rebuilding the history.
Start the 30-day trial to complete your next 30-minute trading review and save one measurable action in Swingfolio.
General information only. Not financial advice. Trading involves significant risk of loss. Past performance is not indicative of future results. Always do your own research and consider seeking advice from a licensed financial advisor.