I have a summary worksheet where I track all of my option investments. I want to systematically withdraw money from my trading balance. I formulated an equation that gives me the ideal withdraw amount for a given balance. I decided to make the withdraw whenever my account balance doubled. When the balance doubles I make the withdraw and I don't make another withdraw until this new balance doubles again. The next withdraw will be calculated using this new balance as well. Anyone have any idea how to set this up? Right now I have a column that tracks the balance every week after my trades.(I can send you the document and give you a visual if you're having difficulty understanding) I'm not the most experienced excel user as you can see.
You don't need to set up a worksheet to track your option trading. Your broker probably allows you to download a trading summary in .csv format, which is updated the next day. Just download the month, week, or year you need and sum up the Amount column, this will give your P/L. And from there you can decide on any withdraws.
Thanks for the reply but what I want is more complicated than this. If you were to see the worksheet you would understand why. I created a series of algorithms that chose which options to open every week. I open all of my new positions and close all my old positions on Friday and repeat the process the following Friday. Obviously my analysis isn't perfect and i'll lose my premiums a couple weeks in a row. Then I'll hit pretty huge, something like 13k in one week using a balance of 10k. The problem is that I start losing that profit sometimes so I formulated an equation for the withdraws. This equation gives me the ideal withdraw so that my annual return (withdraw plus working balance) is the highest.
There is nothing complicated about checking the P/L and determining whether to withdraw money or not.
The issue at hand isn't that I don't have the P/L data, it's that I want to integrate my equations into excel so I can analyze the P/L data to determine how much to withdraw.
Post a jpeg of your spreadsheet on the columns. If I am not post by the time you drunk. I will write your formula.
So as a smart person you're telling me to download P/L data that I already have to mindlessly withdraw funds from my working balance instead of systematically and strategically doing so? I appreciate the advice man!
xandman, thanks for the serious reply. Unfortunately, the spreadsheet is huge and you need to scroll a bit to get the hole picture. Can I email it to you?
You don't have to scroll the spreadsheet at all. Let the spreadsheet's sum function do the work for you and use a bit of critical and analytical thinking while you look at the results.