Dest Jr's little trade journal.

Discussion in 'Journals' started by destriero, Sep 13, 2018.

  1. destriero


    My oldest is a senior this year at Davidson Academy. I am proud to state that both of my boys are attending and will be together for B's last year. He's a sharp kid and skipped a grade before entering DA. He has read Hull and his goal is to take over this taxable account, without oversight, by the start of Summer 2019.

    He's completed all core courses needed to graduate so he's nearly 100% independent study. He's got a lot of time during the day to trade from his phone and iPad. He received a new iPad Pro today as some incentive to do well.

    A lot of his trades will take place during his 10:15-11:00 nutrition break.

    He's going to be a PHYS/Econ major in undergrad.

    The account is a preexisting joint taxable account so I am not going to show the 2018 running PNL as it's immaterial (gains not attributable) and there were a few trades that he placed, a few I placed, so we're going to use today's positions as D1.

    While I thought he was a bit too short with the SPY hedge; today was the first day that B traded solo. Positions shown in the pic.

    I will update this thread daily with PNL screenshots. Continuity will be maintained.
    Last edited: Sep 13, 2018
  2. destriero


    I am not a fan of the condors, but I told him that I'd only intervene during a shitstorm or to close positions at his request.
    VixTraderdf likes this.
  3. destriero


    Open positions at today's close. Account was sitting at a net liq of $18,943 prior to today's trading. Current net liq is $18,918.

  4. destriero


    I'll like to add that TOS/TDA is IDEAL for running simultaneous sessions. I can keep the app open while he logs-in from his iOS devices. AFAIK it can't be done with IBTWS unless you're running F&F or a POA.
  5. destriero


    Dest Jr will be 17 this Feb.
  6. Like father, like son? Destriero put me on ignore, but posted to my journal recently. Just wanted to say hi.
  7. destriero


    I don't recall putting you on ignore; I thought you had put me on ignore.

    I told him that I'd prefer he traded ATM in lieu of the condors, but he's going to limit debit-risk to 1/3rd of the account ($6K at the moment), and can't trade AMZN and GOOG ATMs without going into calendars or ATM flies. He's sim-trading ATM bear flies with bull vert hedges right now, but doesn't feel comfortable going live with those trades.
  8. destriero


    I'll add that this is not his first stint. He resurrected this account over the Summer of 2017 when I moved my taxable trading back to IB. He put $1,000 of his savings into it and I executed his trades for him. He took the account to $2,000 and built a gaming PC with the funds. :(

    Actually, it was a Falcon-NW rig and I had to dollar-match.
  9. I was looking to increase my risk allowance to accomodate a wider range of markets. Still working on a matrix that shows optimum options strategy versus my expectations.

    I wish ES had more volatility, but NQ and RTY seem reasonable and may daytrade them outright with my expanded risk allowance.
    destriero likes this.
  10. destriero


    MTM early on day2. Kid is smart. +$200 2018-09-14_0710.png
    Last edited: Sep 14, 2018
    #10     Sep 14, 2018