It’s been a while since I’ve updated my trading. Consistency is Attainable I started trading options in 2012 following the tastytrade methods. I really sucked and was never consistent. I blew up my share of accounts and consider it tuition. Fast forward to the bear market of 2022. I was up 24% for the year! 2023 I was up 20% for the year. 2024 YTD I’m up 23% and on track for 46% returns. Here’s how I did it. I simplified everything. I trade solely the 1-1-1 trade. Sell a /ES 10 delta naked put 120 DTE. Close it at 21 DTE or when it’s 95% profitable. If the trade goes against me, close at a 2x loss or roll out in time when it gets to 30 delta. At the same time that I sell the naked put, I buy a put debit spread in the same expiration, the long put at 25 delta and the short put 50 points below the long. This creates a nice little hedge to the downside. It usually expires worthless, but it added a lot of profits during the bear market of 2023. To hedge, I use the Sweet Bobby Hedge. I didn’t invent this trade, but since the goober that did tried to get my videos kicked off YouTube, I named it in honor of me. I go 60+ DTE and sell 3 puts for around $3. Put a GTC order to close the puts at 20 cents. Then I place a GTC order to buy 5 longs at a break even or small profit. I usually like to buy them for $1.55. Once that GTC order fills, I will go out to a further expiration and sell three more. Rinse and repeat the whole process. Here are my words of wisdom. Develop a written trading plan and do not deviate from the plan. Simplify your strategies and only trade one or two. Trade a single underlying. Campaign your trades! Stop looking for high volatility stocks to trade. Just trade the index. Maintain minimum theta of .001 x your net liq, ie $100 per $100k account. Don’t let your deltas get bigger than 0.0015 x your net liq, ie 150 for a $100k account. When VIX is low (under 15) use no more than 25% of your buying power. It is permissible to use up to 50% of your buying power if /ES is above its daily simple moving average and the ten week exponential moving average is above the 20 week exponential moving average. By controlling theta, delta, and buying power you should be able to manage any size account without taking too much risk. Happy Independence Day! Sweet Bobby
These are lies, because you did not update your journal during those times. And without statements, they are automatically assumed to be simulated fake money accounts. Try again, fuckface. We do not believe you. Contemplate a new way to approach this forum, sir/ma'am. Yes, even after all these years, you are still suspect.