Trade a big account

hurricane_sh · Jun 25, 2022

wrbtrader said:
Trade small with MES with a small trading account...be profitable for many months with that small trading account. Just keep slowly growing it. It may take a few years but you'll get there.

Thus, MES is appropriate for a 1- 2K.
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1-2K may be enough to trade a few MES contracts, but it feels very different to trade the same size with a big account, much more relaxed, better results.

easymon1 · Jun 25, 2022

hurricane_sh said:
I want to hear all
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If you have any stones, you will provide the link to this thread to all those who have money under your control.
Offer to suspend operations for two weeks after which if they have not removed their money, it will be handled as you see fit.
Make it clear that additional funds are welcome to be added to your warchest at this time.

In two weeks and one day, Rock N Roll!

Overnight · Jun 25, 2022

hurricane_sh said:
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I won't stop trading. My current plan is day trading a few MES contracts, very small P/L...
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You are going to get your ass handed to you if you do that. Day-trading MES is a fulltime job. The size of your account matters not. The size of your trades do. You start messing with a few contracts at a time in it, and you will know pain and pleasure.

Here's a song for you to listen to while you daytrade it. Good luck.

cruisecontrol · Jun 25, 2022

hurricane_sh said:
Thanks for all your suggestions! This is not a hypothetical question, I don't understand why anyone would ask fake questions.

My family is actually my wife, she doesn't trade but she earns very well. I earned well in my day jobs in my previous life, I treated her very well, now she takes care of me, well mostly. I burned her account once ($17K), she never got to see her account changes. With this new account she demanded to install the trading App on her phone, she checks the account on a daily basis.

She is upset with the 20K loss, but she understands that the market condition is extreme. When I recover my first 20K loss, I got cocky and sold options of individual stocks such as GS, MSFT, AMZN and MMM. I cut the losses of GS and AMZN, I have no confidence to hold them. Despite that the market has only rallied 50% of the 500 points decline, I'm almost break even. I wasn't doing too bad. If I only traded SPY options, I would be in green now. But I couldn't help asking myself: what if it dropped 500 points more? With the account fully loaded, it would be more than 40K loss. She will deposit 50K more and insisted it although I told her I can't handle big account.

BTW, MMM is really a disappointment, it performed much worse than all other stocks I traded. I plan to hold these 200 shares indefinitely.

I won't stop trading. My current plan is day trading a few MES contracts, very small P/L, which won't affect my account much. Sell spy options when good chances come, also trade small, don't use margin. I also like tesla options.

My secret trading goal was $1.5K weekly profit by selling SPY options.
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Lol. If this is a troll its a good one. If real, I see divorce in your future. Clueless and option writing don't mix

MacBookProHo · Jun 26, 2022

hurricane_sh said:
My secret trading goal was $1.5K weekly profit by selling SPY options.
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You can make So Much more than that,
By not selling options for small premium, but by rather buying them.
At the money strikes. Weekly options. -- and have great intraday timing.

Of course, the devil is in the details, though. You can certainly make a lot, but also lose a lot in the wrong hands and mind,

HobbyTrading · Jun 26, 2022

hurricane_sh said:
A little background: I've been trading S&P 500 related products for 7 years, SPY, spy options, ES, ES options, MES. In the first few years, I traded big accounts (usually started with $25K) and lost a lot, two years ago I started to trade very small accounts (1~2K), I only trade one or two MES contracts. I'm still a struggling trader but I think I know enough to become profitable, sometimes my emotions made me lose big, with the small accounts the room for errors is very small.

Two months ago, my family gave me a big account (140K) to trade, told me to trade safe, big loss is unacceptable. they believe that I can grow the account however slowly.

At first I was very confident, I mainly trade the wheel strategy (sell cash-secured puts, and covered calls if assigned), shouldn't be hard to make small profits. The market in the past two months is not very friendly to option sellers, my account got a big hit in the first week, at May 20 net liquidity dropped to 120K, fortunately I recovered all losses and became profitable in June, then 500 points decline, my account dropped to almost 120K again. With the recent rally I'm now 3K in red, I almost liquidated everything on Friday, it's been very stressful for 3 weeks.

Anyway, I definitely don't want to be in the same situation ever again, 20K loss for two times, this is my worst trading ever. If I lose $1k per day, 20K would take me a month to lose that much.

In the meantime, I also day trade MES, I can hold 500 SPY but I can only handle a few MES contracts mentally. My P/L is usually less than $200, but most days are green.

So, I mainly trade options (only selling), also day trade MES as complement. After this two months experience, I want to switch my trading - mainly day trade MES, and only trade options when a big chance presents, e.g. after a few days decline. But it seems to be a waste of fund, if I only trade a few MES contracts, a 10K or 20K account at most should be enough. I will deposit another 50K, so it's a 190K account, how do you trade this account? Safely, and maybe fund-efficiently.

I want to hear all kinds of opinions to open my mind. Thanks!
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You were instructed by your wife to "trade safe, big loss is unacceptable" with her money. Nothing, I mean really nothing, in your post describes how you will fulfill this requirement! There is no explanation as to how your daily actions are based on this requirement. All it does is explaining that you apply the trading strategies for your own account to your wife's account. However, your own objectives are very different from those of your wife. I believe that you should halt all trading in her account, study how to calculate risk and potential losses, and define what kind of trading would actually fulfill the requirement. Only once you know that could you restart trading in this account.

schizo · Jun 26, 2022

Overnight said:
Here's a song for you to listen to while you daytrade it. Good luck.

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Love this song! Fond memories.

Nobert · Jun 26, 2022

Man i feel bad for your family. I don't want them to lose their savings.

Start DCA into SnP.

Either you catch a dip or will average till bottom, if it falls that low. In any way , win-win for the long term.

As @BKR88 mentioned, longs only.

Your EGO doesn't matter. The future of your family is more important.

GoldDigger · Jun 26, 2022

hurricane_sh said:
Thanks for all your suggestions! This is not a hypothetical question, I don't understand why anyone would ask fake questions.

My family is actually my wife, she doesn't trade but she earns very well. I earned well in my day jobs in my previous life, I treated her very well, now she takes care of me, well mostly. I burned her account once ($17K), she never got to see her account changes. With this new account she demanded to install the trading App on her phone, she checks the account on a daily basis.

She is upset with the 20K loss, but she understands that the market condition is extreme. When I recover my first 20K loss, I got cocky and sold options of individual stocks such as GS, MSFT, AMZN and MMM. I cut the losses of GS and AMZN, I have no confidence to hold them. Despite that the market has only rallied 50% of the 500 points decline, I'm almost break even. I wasn't doing too bad. If I only traded SPY options, I would be in green now. But I couldn't help asking myself: what if it dropped 500 points more? With the account fully loaded, it would be more than 40K loss. She will deposit 50K more and insisted it although I told her I can't handle big account.

BTW, MMM is really a disappointment, it performed much worse than all other stocks I traded. I plan to hold these 200 shares indefinitely.

I won't stop trading. My current plan is day trading a few MES contracts, very small P/L, which won't affect my account much. Sell spy options when good chances come, also trade small, don't use margin. I also like tesla options.

My secret trading goal was $1.5K weekly profit by selling SPY options.
More...

Why would you post about it being your family
when it is your wife's money. Wouldn't that be
community property, so it's actually your own
money?

If you are going to post about a problem, then
state the facts from the beginning, instead of
wasting everybody's time.

getthatintoya · Jun 26, 2022

If you are always short options carry some -deltas in your portfolio. Do this with other options, RR or futures. Become a master of one instrument not a jack of all.