The Comeback

Discussion in 'Journals' started by hoop121, Apr 14, 2012.

  1. hoop121


    Quick background:

    Been a power trader for about 5 years

    Started trading in stock market last September

    Learned a very costly lesson in trading with margin

    Decided to try my hand with options with about a .01% understanding of them

    Made a fat finger mistake and bought 300 contracts instead of 30 (shouldn't have been buying 30 in the first place)

    Trade was an earning play and it went against me which immediately drained the option of it's extrinsic value

    Lost 88% of my account in 5 minutes

    Vowed to set aside two hours every day to studying and becoming a better trader

    Got addicted to options and their power and have found a small set up strategies that I now use on a daily basis

    Purpose of journal:

    A form of accountability and a way to validate my claims of what will hopefully will be the single greatest accomplishment in my short life...from down 87% to break-even.

    Will I actually get there?? Probably a 100mm:1 chance.

    Will I be tempted to take unneccesary risks in order to play "catch-up"? Probably

    Will I be able to fight that urge and continue my growth as a trader? The numbers at the end will hopefully show that.

    I've attached my current record to this post. I just copied from my broker and pasted to a word document so I apologize if it's not fancy enough.

    This is mainly just for myself, but if you decide to follow from time to time then please keep any non-constructive criticism to yourself.

    Kind Regards,

    The Comeback