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

Honestly, I can't afford them. With my account size being as small as it is, the volatility of an option makes it difficult to manage risk properly. After all, one $2.80 option would equate to ~10% of my capital. The "rapid loss" of this $2.80 option can/did quickly deteriorate my account value.

Although they don’t suit my needs now, I would like to use options in the future and believe they can be a great tool for anyone with more capital.
 
30 SPY stopped out @ $135.03
I sold the 50 DRV today at $11.44

Journal starting capital = $2670
Current capital = $2680



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When I started this journal I had a bearish view on the economy. I still do. Among other things, I am worried about QE3 ending, the national debt, and the fragile condition of the US economy. Going forward, I will look to make other short attempts, as I believe there will be a correction. This does not mean that I will not buy in short time frames however.
 
Took a losing trade today… Terribly stupid of me, but it was a revenge trade spawned from my emotions relating to covering my shorts before yesterdays sell off.

Bought 30 TNA @ 81.00
Sold 30 TNA @ 80.1104
 
how much have you spent in commisions already? I recommend betting big and hope to accumulate a good bankroll. Looks like you're churning
 
Quote from rosy2:

how much have you spent in commisions already? I recommend betting big and hope to accumulate a good bankroll. Looks like you're churning
More...

Only $13 from the start of the journal on may 19.
... since the start of the year $250.15

I pay only 1$ for every 100 shares, which isn't bad for the size of my account.

I want to start trading longer time-frames to avoid churning. The SPY short that I recently covered on May 31st was an attempt of this... unfortunately I was a bit early. Going forward through summer, you will see me trading mostly 60min chart, trend reversals (this is why I have not been trading much lately). I don’t know exactly what you mean by betting big, as today’s trade had me fully margined. I do not plan on blowing my account out any time soon with poor risk/reward trades.

I appreciate the input.
 
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