Lets hope not.
The purpose of this journal:
I am always looking at ways to reduce/minimize my risk. I am a sole person operation and was thinking to myself what would happen lets say I was in a car crash and in a coma for a month or something. This would cause real carnage most likely on my options/futures positions.
So I mentioned this to my eldest daughter (graduated uni last year having done a bachelor of business specializing in HR not finance) to see is she would be willing to take on the role of closing out all positions. She thought why not go the hole hog and show her how it all works and how I trade. Okkkkkk I said with hesitation but thought to myself that I reckon females make better traders anyway.
So this is where we are at 5 months in having explained about how the markets work, what a future is, what an option is and so for.
How it will be laid it going forward:
- Anything in blue writing will be new info added that day.
- The positions visual table is self explanatory and an example is below.
- Analysis is done on the XJO chart and instruments traded will be xjo options and spi futures which are both derivatives based on the xjo symbol.
- xjo options are $10/contract/point and spi futures are $25/contract/point.
- Roadmap: will be a guide on where the market will/will not trade up to a certain period. Where stats are kept for some guidance a % confidence factor will be noted after it.
- Dates: there will dates entered on the day that a comment, trade etc is placed in the journal and will stay there until that entry is removed.
- She will place all trades and it will be her decisions based on what she has learned. Obviously I will not let her blow up my account but she gets to keep whatever she makes as her effort.
- I will be making all the comments in here but if she does decide to put anything in she will sign off by saying Miss J.
Wish her luck I know I am
The purpose of this journal:
I am always looking at ways to reduce/minimize my risk. I am a sole person operation and was thinking to myself what would happen lets say I was in a car crash and in a coma for a month or something. This would cause real carnage most likely on my options/futures positions.
So I mentioned this to my eldest daughter (graduated uni last year having done a bachelor of business specializing in HR not finance) to see is she would be willing to take on the role of closing out all positions. She thought why not go the hole hog and show her how it all works and how I trade. Okkkkkk I said with hesitation but thought to myself that I reckon females make better traders anyway.
So this is where we are at 5 months in having explained about how the markets work, what a future is, what an option is and so for.
How it will be laid it going forward:
- Anything in blue writing will be new info added that day.
- The positions visual table is self explanatory and an example is below.
- Analysis is done on the XJO chart and instruments traded will be xjo options and spi futures which are both derivatives based on the xjo symbol.
- xjo options are $10/contract/point and spi futures are $25/contract/point.
- Roadmap: will be a guide on where the market will/will not trade up to a certain period. Where stats are kept for some guidance a % confidence factor will be noted after it.
- Dates: there will dates entered on the day that a comment, trade etc is placed in the journal and will stay there until that entry is removed.
- She will place all trades and it will be her decisions based on what she has learned. Obviously I will not let her blow up my account but she gets to keep whatever she makes as her effort.
- I will be making all the comments in here but if she does decide to put anything in she will sign off by saying Miss J.
Wish her luck I know I am
