My Scottrade account now stands at $822. I will be trading NDX index options with the goal of doubling my account every two weeks, thereby reaching $210432 by Friday July 18, 2008. I am fully aware that most people believe that this is impossible. I believe that it is possible but not probable. Even if I do not come remotely close to achieving my goal, I hope to make some type of profit and improve my trading skills along the way. Unlike the other journals I will not be scalping. I am using a cash account and will therefore perform just 1 round turn per day, using 100% of my available trading funds. My objective is to take advantage of the largest intraday price trend available, hold times should therefore average a few hours. I will not hold a position overnight. I will be monitoring a live 5 day, 5 minute prophet.net java chart of $NDX with 2 line MACD. In order to enter calls NDX must be moving up off of a low and the MACD line must be either crossed above the signal line or above the zero line. In oder to enter puts the NDX must be moving down off of a high and the MACD line must be crossed below the signal line or below the zero line. Once I have decided to enter a position I will use a limit order in an attempt to enter near the midpoint of the current bid and ask. Once I have entered a position I will set a stop price equal to 88% of the entry price. If however, after entering the position the market does not perform as I had expected I may decide to exit at break even or at a small loss, rather than waiting for my 12% stop to be hit. If the market performs as expected I will attempt to ride the entire price move.