I decided to start a journal for my own educational benefit. If anyone would like to join in with helpful suggestions they are more than welcome. Questions are also welcome as long as they aren't about why I'm such an idiot. And for all those that want to make comments (flamers), NO I am not a newbie, and NO this isn't my actual account. CONCEPT: I will be keeping a record of P/L on various vertical spreads. I will only be trading stock options and index options. No futures. For the sake of making the numbers easier in the beginning I will have a theoretical account balance of $10,000. I will generally try to keep a certain balance of OTM, ATM, and ITM. This will take a while to get situated as I will be starting out with 0 positions. In addition I will also try to stay balanced directionally. I believe that no matter the market trend, one can always find good plays going opposite the trend for hedging purposes. Hopefully the balance will look something like this: 50%---FOTM/OTM 35%---ATM 5%---ITM (or simply long puts/calls single leg plays) 10%---CASH Commissions will be based on $1.25/contract I will not include other trades that I might have going in various accounts. Nor will I include trades that I might have made until now. It is also unlikely that I will describe exactly how I search for setups that I like. I will be treating this like I am barely starting an account. I don't like paper trading because it can be cheated. I will not post trade results after they have (supposedly) happened. Everything will be as close to real-time as is reasonably possible. Suggestions on when to enter/exit trades are welcome. If you see something that I don't, feel free to voice your opinion. Also if you see setups that I might like, they are always welcome. As long as they come before it is too late to act on them.