Quick background:
Been a power trader for about 5 years
Started trading in stock market last September
Learned a very costly lesson in trading with margin
Decided to try my hand with options with about a .01% understanding of them
Made a fat finger mistake and bought 300 contracts instead of 30 (shouldn't have been buying 30 in the first place)
Trade was an earning play and it went against me which immediately drained the option of it's extrinsic value
Lost 88% of my account in 5 minutes
Vowed to set aside two hours every day to studying and becoming a better trader
Got addicted to options and their power and have found a small set up strategies that I now use on a daily basis
Purpose of journal:
A form of accountability and a way to validate my claims of what will hopefully will be the single greatest accomplishment in my short life...from down 87% to break-even.
Will I actually get there?? Probably a 100mm:1 chance.
Will I be tempted to take unneccesary risks in order to play "catch-up"? Probably
Will I be able to fight that urge and continue my growth as a trader? The numbers at the end will hopefully show that.
I've attached my current record to this post. I just copied from my broker and pasted to a word document so I apologize if it's not fancy enough.
This is mainly just for myself, but if you decide to follow from time to time then please keep any non-constructive criticism to yourself.
Kind Regards,
The Comeback
Been a power trader for about 5 years
Started trading in stock market last September
Learned a very costly lesson in trading with margin
Decided to try my hand with options with about a .01% understanding of them
Made a fat finger mistake and bought 300 contracts instead of 30 (shouldn't have been buying 30 in the first place)
Trade was an earning play and it went against me which immediately drained the option of it's extrinsic value
Lost 88% of my account in 5 minutes
Vowed to set aside two hours every day to studying and becoming a better trader
Got addicted to options and their power and have found a small set up strategies that I now use on a daily basis
Purpose of journal:
A form of accountability and a way to validate my claims of what will hopefully will be the single greatest accomplishment in my short life...from down 87% to break-even.
Will I actually get there?? Probably a 100mm:1 chance.
Will I be tempted to take unneccesary risks in order to play "catch-up"? Probably
Will I be able to fight that urge and continue my growth as a trader? The numbers at the end will hopefully show that.
I've attached my current record to this post. I just copied from my broker and pasted to a word document so I apologize if it's not fancy enough.
This is mainly just for myself, but if you decide to follow from time to time then please keep any non-constructive criticism to yourself.
Kind Regards,
The Comeback