Yep! You got it, sir! I want to make a statement, though I have done that several times. I simply love GROWTH. Will send a lot of traders to this thread with time. I'm also considering Collective2 as another platform to showcase my results, but I hate the idea of trading with virtual funds. The pressure of churning out trades every week is also a possibility - I hate pressure. There's a common sense approach to making money with straight options purchase - without complex strategies! I want to prove that on this board! Bottom line: my profit target per trade is 50%. I may not get there until the account grows with GDX trades. Thanks for reading!
Oh professionals! Who are they? Can they grow a shoestring budget to six digits? I 'm so independent minded and I dare say, with humility, that I am my own professional. If there is any trader I admired so much, it was Welles Wilder until he got himself involved with the Delta Phenomenon!
I look at the image below every now and then to stay focused. A goal driven man must have a good dose of pride, not arrogance, in himself or pursuits to achieve his goals.
1. I think your using a position size, say 12 contracts, in order to achieve your objective of 50% growth on AV could be a fairly important factor, assuming maximum risk is not a real/potential concern to you. https://en.wikipedia.org/wiki/Principal_component_analysis 2. Perhaps you can use only 1-contract approach for the Collective2 offer. Let the subscribers decide their own size. Your this offer could be very attractive to many subscribers. 3. I think your profit target can be flexibly adjusted (higher or lower) later based on the result of your experiment.
You are correct! See, another unforeseen trading approach is evolving. I will not hold day-trading positions overnight, hence the need to purchase as many contracts as possible - of course within a reasonable risk profile. I have a trading approach that tells me if/when my market bias is wrong within 2-3 hours after position is initiated. The risk is less than 40 cents, which for now is less than $500/trade. I am studying the Collective2 platform for two different strategies, but really I am not interested in running a subscription service, not minding how many millions of traders may be interested. I have done it before, I don't like the pressure involved. I'll rather have hundreds of traders use my system to search for trades, and that is not even under consideration. I simply want to show traders that it is possible to make money with outright purchase of Calls or Puts. Options buyers are not doomed! Yes, thank you for that recommendation. The profit target won't matter to readers anymore if/when the account generates up to $50K in profits. Traders care for only one thing - PROFITS! Thank you for this engaging discourse. I welcome any positive comment, observation, or question provided it will enlighten traders and move this thread in the right direction.
I think there must be some edge very special in your system that, besides the above mentioned, also supports some trades lasting for 2 days. Depending on how many trades you will post here, you could be one of the first demonstrating that on ET. I think because both the 50% and this $50K figures are subjective targets, arbitrarily defined by yourself.
There are two factors involved in my trading approach. First, all index positions are initiated and closed during trading hours - no overnight position. That forestalls the possibility of a gap against the position. Second is that all non-index options that I may decide to hold for 2 trading days are based on certain conditions which I'll rather not divulge. Despite that, all overnight trades have "gaps" to contend with. There's nothing any trader can do about it. It is a matter of luck if traders are favored by gaps. So, there is an element of luck, though little, in trading. Interesting.... Yeah, the figures are subjective and arbitrary! I understand there are traders with huge war chest that $50K is like a drop of water in their ocean. However, I think of the average Joe who is interested in a trading system that is simple to learn and can be used for consistent profitable adventure.
Pekelo, I just checked the screenshot. I like what I saw. Buying 100+ contracts is my thing too. Whoa! I love your trading approach already! Thanks for sharing!