I found it too difficult and time-consuming to trade a small account at 100% (ship it journal) in a single-name, so I've decided to commit long-term to a new journal in hard-delta bets in single-name vol.
All trades will express a % of book allocation. Trades with variation margin will be expressed as units in RegT required units.
Most of the trades with be "delta bets" and significantly away from neutrality, or at least convergent. This is not a passive book and may hold a significant portion of cash, but more likely will be long/short delta hedged among correlated names. I will also be trading delta1 in equities as well as risk-reversals.
The majority of entries will be event or macro-based. My single-name account is roughly 40% of my (family) net liq, but this will be another (larger) test account, but production as well.
I'll try to commit to two years and a 15% draw-down. VaR not to exceed 20%. I will be shooting for 30x the marked (from inception, not peak eq to trough) DD figure.
All trades will express a % of book allocation. Trades with variation margin will be expressed as units in RegT required units.
Most of the trades with be "delta bets" and significantly away from neutrality, or at least convergent. This is not a passive book and may hold a significant portion of cash, but more likely will be long/short delta hedged among correlated names. I will also be trading delta1 in equities as well as risk-reversals.
The majority of entries will be event or macro-based. My single-name account is roughly 40% of my (family) net liq, but this will be another (larger) test account, but production as well.
I'll try to commit to two years and a 15% draw-down. VaR not to exceed 20%. I will be shooting for 30x the marked (from inception, not peak eq to trough) DD figure.
