Trade Journal : $2000 to $20000 in 2 months - Page 3

Out of JPM Put side of strangle for 50% profit.. in for 2X 0.80, out at 2X 1.20. Not exiting the call side of the trade in hope of a bounce here!

Quote:

Originally Posted by BobK 

 

I said that in the beginning Rock. It's so simple. Place the trade and post. Close the trade and quote the original post and add the closing price. We do it all day long in futures as he knows. Heck, I can make 5K a day easy.

 

@ BobK, you dont have to be sarcastic about it. I am posting my entry of trades these days if you have not seen my recent posts. For example, I closed JPM today. here is the confirmation.

Post market.. just got back from work.. and kicking myself for not holding MON longer.. could have been a doubler here

Nice bounce today.. am glad I got out of my shorts yesterday.. will just play it safe today..

In GOOG spread @ 3.95. Also in STX Strangle @ 2.42. 

Bought 3 CSC  may put options @ 0.5 each.

Quote:

Originally Posted by BobK 

I wasn't being sarcastic. I was just posting what you could do to make this a credible thread. Others have said the same.

Sorry if I caused any misunderstandings. Thanks for your help in this regard. 

 As I said in futures we just post opening price and then closing price at the time we trade.  Hold your mouse over the hour and minutes that the post was made and it will give you the exact time. This isn't rocket science.

I didnt get the hold your mouse part. Looks like I am missing something super simple. One thing is, I rarely close the trade the same day trade is opened. Maybe that is what is keeping my posts from being simple enough to make sense? Either way, thanks for all your inputs. Maybe, going forward, I will do a weekly update with confirmations, along with my daily updates. That way, it keeps it simple enough for me and others to track, and adds credibility since it would be rather easy to tally. 

Was reading through the threads in the forum and came across this really good thread by IchiBomb here..

http://www.hotstockmarket.com/t/180408/risk-management

I think the thread is a great reminder of how to manage risk  and importance of the same. Going forward, because of the aggressive nature of current trading, i think adding this metric will help me keep a good balance. So from today onwards, i will try and manage this metric as part of the  thread. I guess as part of the above thread, he advocates keeping tabs  on previous weeks following metrics.

Total trades, Wins, Losses, Profit Total, Loss Total, Profit Factor, Avg MFE, Avg MAE, e-ratio, Winning Percentage, Average Win, Average Loss, Expectancy, Max Profit, Max Loss

I did not keep a statistic of MAE/MFE for last two weeks or even  this week, but going forward, I will make a note of it. Also, I will only include the trades that have been closed, since sometimes, while you are in a trade,options tend to have high volatility and moves up or down dont mean anything till actual loss/profit is realized.

So as of today (end of last week), the following are my metrics.

Trades(closed) : APOL (put closed, call close to expiry, taking full loss here), STZ, JPM (Put closed), WFC (put closed), BBY (put closed, holding call, if call goes worthless will include it as loss in next weeks tally), MON call, MON put, GRPN, BBBY

Total trades : 20

Wins 9

Losses 1

Pending : 10

Avg MFE ?

Thinking out loud here, One thing that I think is working in my favour is my ability to risk less than 10% per trade. Although I think, since the portfolio is getting bigger, I need to strictly adhere to this basic fundamental. What I am not doing consistently is refactoring the 10%. i.e. I am still rarely going for trades of greater than $300 (goog will be my first 300+ trade) although my portfolio dictates that I need  to start doing that to really compound the earnings I am making in previous trades. I will try and sit down this weekend and work out some rules/techniques so that I can say with greater confidence, as to balance the amount of money I put into each trade without hurting the overall portfolio itself. What will be exciting here is Avg MFE/MAE statistics as I would be tracking those going forward. Thing that works against me is my inability to enter and exit trades with perfect timings, since  I can rarely monitor my trades real time (except during lunch time and short brakes) during work hours which  puts me in somewhat disadvantageous state. However the stocks I am trading kind of give me that flexibility since I rarely plan a trade exit on same day I enter.  Another issue that I am seeing is, in previous attempts when I tried to do short term option trades, I was disciplined enough to balance the short/vs long side of the market. That way, irrespective of direction of the market, I could always make a good trade. This time, I think I am slightly overleveraged towards long side. One reason can be that maybe that is exactly where all the good trades are right now. Either way. Constant rebalancing and keeping my portfolio near neutral might help here and i will try to get there sooner than later. Either way, I will keep maintaining this page to see how i can hone my techniques to reach the lofty goal of the thread. Any suggestions are really appreciated.

Quote:

Originally Posted by Stuie 

200k in two months good luck lol 

 

If it helps my goal weekly is 1 million. Still trying to hit that goal hahahahaha

??? It is 20K not 200K!

Out of ADTN May $30 call : in @ 1.30, out @ 1.70. out slightly earlier than expected. But for some reason, ADTN has always moved against the direction of expectation. So salvaging what I can here. 30% seems about as good as it gets. This has been a surprisingly slow day for me trading wise, even though looks like markets are soaring! Also out of JPM call with no profit no loss scenario (actually $1 profit).. Got into OVTI $21 calls @ 0.85

Out of SVU.. in averaged down at (0.35 + 0.6)/2, out @ 0.6 with 3+3 options. also lost 100% of goog @ 395