Down nearly 25% on the year... documenting every trade until I'm back to even.

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upandcomer

Hey all,

I've been trading stocks for a few years now and in February I started trading options. I don't believe in paper trading and believe the best way to learn about anything in the market is through using real money. As a result, I've learned a lot recently, but I'm down nearly 25% on the year.

The purpose of this journal is to document my journey back to an even P&L on the year. I plan to do this by limiting options trades, which I have been using exclusively for the past 3 months, and going back to what has worked for me (trading/swing trading stocks & ETF's).
 
I'm still short heading into Monday.

If spy gaps lower tomorrow morning by anything more than .5%, I will cover half of my position.

I have been working on letting my winners run however, so lets see where this week takes us.
 
I covered all 38 shares at 38.61.

Last night I said I would cover half of the shares if spy gapped down over .5%. I did not do this because spy opened below its daily trendline-support. I then figured spy would trade lower to test the 100sma on the daily chart. I left for my 9 o'clock class and set a buy order for all 38 @ 121.61 (just above the 100sma). I decided to cover all shares because the market, if it reached my 131.61 target, would be way over extended.

pictured below are the daily charts showing this trade; the chart on the left is from last thursday when I put the trade on and the chart on the right is today.




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Forgot to add:
Starting capital = $2670
Spy short trade = +$113
Current capital = $2780
Goal.... $3500

+4.1% account gain on trade and since start of journal.

(Figures may be a bit off due to commissions and an 18$ options contract I am still holding)
 
Thanks Sidw.

Short spy at @ 132.7 Stop is ~ 134.5 area.
Don't know why it says I got filled before the chart reached 132.7...
Looking to hold this for a while, preferably down to the 124/125 area.



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Still short, I knew when I put this trade on that I would probably take some heat. Market is reverting to the mean right now... not worried. If we close at highs today, I will look to see the market gap higher on Friday, in which case I will add to my position as I expect there will be heavy selling into the weekend, and early next week.
 
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