$1,000 *Starting* Options Trading Account (lets see how high or low i can go)

How far do you think I can take this in one month? place your bets!

  • Total voters
    44
Overnight said:
I see that you have one very distinct advantage in this journey of yours, that most others do not take into consideration. From what I recall, you basically went into this with the thought that you may lose your $1,000. Extrapolating from that, you are doing it with money you have no need for. It is money you can afford to lose. Like trading with $1,000 you found on the street, as a crude example.

That is very beneficial. It is like trading a live account with money that you just "came across and have no need for". That is a tough barrier to break, mentally. "Hmmm, I found $1,000 in the street, in a bag. I don't need it. Let me try to trade it and make more with it. If I lose it, *shrugs*, oh well." <----If that is what you are doing here, you have an edge.
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I've detached myself from the mental part of trading with my money. I believe this is the only way to be able to day trade and be profitable. Just have to kill the "hope it comes back" thoughts and cut losses as soon as it turns against you and take gains as your position goes up, kill the greed.
 
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Hey guys,

Sorry I didn't update last week kind of was putting it off because of all the screen shots and explanation I'd have to do.

Anyway I decided to just show the current state of my account.

So far I'm up 400% on my starting account value from 2 weeks ago.

Trying to keep it going, initially I went down from my last update to a little under $300 and managed to build that up to $2,500 over the last few days.

Will update with my trades tomorrow as well, happy(disciplined) trading everyone!
 
Esko said:
I've detached myself from the mental part of trading with my money. I believe this is the only way to be able to day trade and be profitable. Just have to kill the "hope it comes back" thoughts and cut losses as soon as it turns against you and take gains as your position goes up, kill the greed.
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If you are truly detached: great! But what helped me fully detach is reading/studying good texas hold'em books...along with playing it. fwiw ymmv
 
userque said:
If you are truly detached: great! But what helped me fully detach is reading/studying good texas hold'em books...along with playing it. fwiw ymmv
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That's a great strategy, I've recently read "The little book of Market Wizards" it's helped me out mentally to a tremendous degree
 
ESKO

Thank you for sharing

I want to learn a little for my knowledge .Yoo can give general answers

Do you use a scanner to select stocks?Is your trade selection based on technical analysis , price action or trends?Do you buy atm calls and puts?Are you using weekly options ?How much % of your account , do you risk per trade?Have you done historical studies of probabilities on the instruments ?

Are indices /futures aligned with your stock trade , at time of entry?Are sectors aligned at time of entry?
 
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