o7's amazing penny + option plays trade journal

So I made this thread as a challenge for myself. This is just a trade journal, I'm probably not going to be posting plays in advance..just results to get feedback (I'll post screen shots of trades and profits/losses).

I'm starting over with 1k and my goal is to make it to at least 5k by the end of the year.

I'm on a cash account, so I have to wait 3 days for my cash to settle. So it'll probably be really slow here to begin with (unless I'm trading options). But for the most part I'm going to stick with pennies.

Wish me luck

Edited by o7media - 2/3/11 at 7:00pm

oh really? congrats man!! you hit 10k today with EXBX? how much was made off my picks? i wish i had alerted it..but i was afraid of chasing

and thanks. i'm gonna try to make it to 5k ahead of time too..then bump up the target to 10k by the end of the year.

Not bad. So you made about 5k in the last few weeks ....not bad grass hopper lol.

800 to 26k? ..was this from penny stocks?

Thanks guys ^^

Well today was my first closed trade since starting this. I still have another open position that I may hold til Monday. But if I can sell today I will to clear my funds for next week.

I actually started with about $985 (I just rounded to an even 1k)..so that's why I'm still below 1k and the math doesn't add up. Also, I'm down just a bit on my other position that is still open.

First closed trade:
OXY December 85x puts. In at $1.10 out at $1.25. 13.6% profit = $34 after fees

Pretty sad first trade...oh well. And I should have held a few more minutes, the bid got to like $1.30 - $1.35 so I could have made a little more.

Account:




Trade:

Oh and I forgot to add. My fees are a B!*** so this is going to be a little harder for me than I thought.

Options: $9.99 per trade + .75 per contract
Stocks: $9.99 per trade

Yeah fees are outrageous. Only problem is I love the platform and the scanner, so I have to deal with it.

The fees aren't a big deal on a normal account, it's just on this it is... because it's so small (that's what she said)

And $4.50 with who? Zecco? They're ass. And most others like TOS/TD are too. I here complaints about their site being down half the time

Etrade >> ...It's honestly worth the extra $11

They are ...