I've been trading for a few years now. I started educating myself on the markets, investing, and trading while in undergrad and I decided to give it a go, well it ended up turning into something more serious and I developed a passion for trading, became addicted to the markets. I have predominately traded stocks but dipped into options here and there along the way. I developed into a pretty solid trader, becoming constantly profitable after a couple of years of battling the markets and myself. Dealing with the usual along the way, big and small red days, poorly executed trades, blown up accounts, the thoughts of quitting, and everything in between. As I made it out on the other side I didn't feel satisfied. I was consistently profitable but on a small scale, and at this point had started grad school for an MBA (about one year ago) and was working a part-time job in order to make some extra cash to go along with my trading profits to help pay for school. Well over the past few months I wanted to find a way to not only trade stocks but create an opportunity for myself to turn bigger profits with less capital. So I turned to options. I started reading everything I could on them, watching every video on the internet whether it was about day trading options, swing trading options, how to pick the correct strike price, and anything else that I needed to educate myself on in order to start trading them. For me at least, options were a relatively easier process in terms of developing the requisite skill to trade them. I'm not sure if it's the defined risk or the extra focus I give that allows me to execute well with options, but whatever it is I've immersed myself in this new realm of trading. And I wish that as a new trader coming up I was made more aware of the opportunities that are there with trading options. I was always under the impression that they are too complex and "risky" to trade but in my opinion if you're utilizing the same risk management and strategies that you do with stocks there should be no reason to feel that options are riskier. Options can be a great tool for traders who do not have the capital required to trade at the capacity they feel their skill level allows them to trade at. I know I was frustrated trying to trade early on with such a small account, bouncing from broker to broker trying to avoid the pdt and build my account. And that alone brings on added pressure to a newly developing trader. I know, it's not smart to size up right away and trade big, but trading very small in my opinion while a lot less risky is just as hard.
So, where I'm going with this is that I want to document myself trading a small account and building it through the use of options. I funded a new account with Tradestation this week and will be uploading my trades on here daily starting Monday, and I think a small blog post each day just outlining some of the technicals of the trades. The account is going to start at $1900. Yes, 19 it's my favorite numbers so I went $1900 instead of $2000. Regardless, I'm just looking to bring whoever may want to learn a little something along on this journey. It's almost like a challenge, it brings an added juice to my trading every morning now that I'll be documenting on here. As for a goal, I don't really have an end goal in mind or in terms of monetary value. I am going to continue to place trades in my regular account but will be just as focused if not more on this new small journey or challenge. It was some point last week I was going over my trades and recapping them for myself and I just decided that even if I might be able to provide the smallest amount of value to someone trying to learn or develop then why not do that? And selfishly I liked the idea of holding myself accountable, posting every day, and sharing my thoughts from each session with someone other than myself. One more thing, by no means, am I a professional or anything of that nature. I'm still learning and developing too, especially in this options game. So if you would like to follow along, I'm excited to have you, but I make mistakes just like every trader out there. But I'm young, hungry, and looking to learn!
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