I did one trade from each of the accounts I placed in this challenge for today. I took on the 5810 puts initially took on 2 contracts and then added an additional 2 contracts due to price action showing favorable downside.
Account 1: Beginning Balance $2347
Initial buy 2 $5810p @ $1.50 at around 1:30pm, purchased 2 additional contracts @2:58pm for $1.30. Closed 3 contracts @$5.70 3.06pm. Closed last contract at $3.40 @3.20pm
Ending Balance: $3832.51 grew account by 63%!
Account 2: Beginning Balance $1046
Initial Buy-in $1.80 at 1:30pm, purchased 2 additional contracts @ 2:57pm for $1.30. Closed 3 contracts at $5.80 @ 3:06pm and the last contract at $4.30 @ 3:09pm.
Ending Balance: $2587.20 grew account by 147%!
Just reviewing today play, I think the biggest thing that helped is that I was not glued to the screen looking for a play due to meetings today.
2 Trades both wins. Chased the morning pop. Was frustrated that my broker didn’t fill 5805c order so ended up purchasing an ITM for the 5810 call @ $13 and got stopped out at $15.40. Second trade 5800P $4.70 to $5.70. I got stopped out.
Ending Balance $2170 grew by about 19%
Account 2 starting $926.
3 trades 2 wins 1 loss. Trade 1: One 5815c $4.70 to $7.30. Trade 2: 5795 put $4.30 to $1.70. This one was green and I should have closed when it hit $6 but I think I was being greedy hoping it would break. Today was a trend day so definitely did a few things wrong including not setting my stop. Trade 3: 1 5815c $3.90 to $5.10
Ending Balance: $1039 grew by about 11%
Side note: I took a loss in my larger account that’s not in this challenge. -$830 for trying to force trades and trying to multitask too many accounts at once. Just a note where I was not disciplined that I paid for. Lesson received.
Trade 1: 4 contract at 1.80 out with $5.50 average: 1480 profit
Trade 2: 4 contract at 0.50 out 2 at $1.20, 1 @ 2.20 and 1 at 0.8. : 440 profit
If I held for Trade 1 all day: it hit 25 could have been 5k profit.
End balance: about 4800 (after fees)
Big account took a bath in some swings, while the PDD swing short went from 1.50 to 7 for a small net loss. If MSTR and SMCI don't recover tomorrow or Thursday, big account will be unhappy.
I keep forgetting to trade in small account. I'll need to make sure to be on top of it this coming week.
Overall great trades/ideas Friday. The big one being to short above 579.50. and getting a random candle that pumped the contracts to 13 for just seconds before dropping back under $3.
My sell order filled at 3 and 6. I would have missed the exits if I didn't have the exit orders in place. Good policy to place sell orders in advance.
I'll start. I traded late in this baby account and chased with bad entry. Don't recall the particulars but only made $555. It was using SPX 5790c targeting 5797 level for the exit at $7. Went right to the target but I got stopped on some for loss since I entered too early minimizing gains. If I executed correctly in this small account, gain would have been $2000+ using $500 capital
I didn’t share anything yesterday just to take a moment back to reflect on what I did wrong for my day 10 activity. Did a couple trades yesterday that kept me in same area.
Today I caught a couple great plays starting with waiting for the gap up reversal when SPX couldn’t clear $5860. I played puts all day today 5845, 5835 and 5800. I waited for SPX to hit resistance and locked in profits at 200-300%. Today I played between 1 and 2 contracts at time given today was Friday and Theta bites. Patience is what paid today.
Today I should not have traded given my mood and schedule. I broke rules because my head was not in the game. I also did one of the things that they say not to do while trading which was watching the money which led me to being emotionally attached. Unfortunately it shows in account 2 which I’ll consider the loss as a blown account. Trading requires discipline and rules and only way to be great at it is sticking with the rules. I’ll continue the challenge but it will be off of account 1 for the remaining 10 days. And may start another challenge with Account 2 at a later date.
Account 1 Beginning balance: $4927
Account 1 Ending Balance: $3358. Account down by 35%.
This morning I took on 3 trades from each account. All three were profitable wins. I set my stops and let them fill. Looking back I could have made 500%+ on my first 2 trades in the morning but my stops took me out which prompted me to buy the next level down. I was in 5865P (acct 1) and 5860Ps (acct 2), then $5850p 2nd trade and then $5830ps for last trade. In the morning my accounts were up 40% and 100% respectively. I did give a little back with my afternoon trades but overall happy with the results.
Account 1 Beginning balance: $3216
Account 1 Ending Balance: $4927. Account up by 35%.
Account 2 Beginning balance: $1334
Account 2 Ending Balance: $2261 Account up by 70%
The goal is growth and being consistent with taking profits. At some point I’ll hit the 500% but I’m happy with all gains.
Great work on your account growth and most of staying focus on process and collecting profits systematically. Make sure your are also being consistent with your allocations where you aren’t thinking about $amounts and more about whatever the process says.
Hopefully building that muscle will get you past the bad behaviors in the past.
Unfortunately today I did not follow the rules and really had a bad day. I should not have traded knowing how I was feeling. Messed up account 2. Going to continue with just account 1 but after a couple days.
I did not. I was frustrated before I even made the first trade which was the first thing I did wrong and then didn’t set stops. It’s my fault and I know what I did.
I switched up how I was playing today. I originally was buying same contracts in both accounts and decided to go off of that system on Friday and it shows in respect to both accounts. One account gained and one loss. I’ll be back to normal this week when opportunity shows!
Account 1 Beginning balance: $3129
Account 1 Ending Balance: $3216 ($87 gain)
Account 2 Beginning balance: $1583.95
Account 2 Ending Balance: $1334 down by about 15%.
I did something stupid in account 2 and held the position too long thinking that OPEX was going to turn in to something at the end of the day. The position was green and I had opportunity to get out but didn’t set stop loss and was HOPING for a big run. The market don’t care what I hope for, so keeping in mind the point of the challenge is to take all gains and to grow the small account, I will focus on keeping to task and setting very tight stop losses for plays I’m not that confident in and making sure not to let any green trades go red! I played both calls and puts in SPX and could have quit after my first trade of the day bc both accounts were green. I don’t need to take on more than one or two trades a day.
Today I was not able to get my fills from my broker. I saw the move and I guess moved to slow and then switch to another strike. Also today theta was BITING so you had to be quick and couldn’t stick around and I paid for slightly in Account 2.
Account 1 Beginning balance: $2919.39
Account 1 Ending Balance: $3129 grew by 7%
Account 2 Beginning balance: $1678.85
Account 2 Ending Balance: $1583.95 down by about 5%.
I was in the 5845 puts towards the end of day but theta was biting hard and should have left my first limit order on for a while long but one green candle took all the profits and some. Overall down in this account by $80. It could have been a lot worse if I had multiple contracts.
Today was frustrating, things look one way but did the opposite. It was definitely a trend day. I’m red for the day. Took 3 trades from each account and loss because I was fighting the trend. I tried 5800P, 5825P and 5835puts.
Account 1 Beginning balance: $3832.51
Account 1 End of day balance: $2919.39 down by 24%
Account 2 Beginning Balance: $2587.20
Account 2 Ending Balance: $1678.85 down by 35%.
I have to remember on trend days that a 10% profit is better than a loss. Given today’s action I don’t plan on taking any trades unless it’s a perfect setup. If I do I’ll also scale down to one contract given that today was red.
One trade today 2 5875c contracts 0.30 to 1.20 at the end of day.
Ending Balance: $2347 grew by about 8%
Account 2: starting balance $1036
Two trades that turned into a wash first trade was the 5845 puts. $4.10 to 5.10. Jumped out too quick after it broke trend and would have been able to make at least 50% on this trade if I waited for the retest of the support line. Second trade $5840p 1.15 to 0.25.
I'm going to focus on afternoon SPX trades playing the range and targeting reversals.
Day 5 check in.
I did one trade from each of the accounts I placed in this challenge for today. I took on the 5810 puts initially took on 2 contracts and then added an additional 2 contracts due to price action showing favorable downside.
Account 1: Beginning Balance $2347
Initial buy 2 $5810p @ $1.50 at around 1:30pm, purchased 2 additional contracts @2:58pm for $1.30. Closed 3 contracts @$5.70 3.06pm. Closed last contract at $3.40 @3.20pm
Ending Balance: $3832.51 grew account by 63%!
Account 2: Beginning Balance $1046
Initial Buy-in $1.80 at 1:30pm, purchased 2 additional contracts @ 2:57pm for $1.30. Closed 3 contracts at $5.80 @ 3:06pm and the last contract at $4.30 @ 3:09pm.
Ending Balance: $2587.20 grew account by 147%!
Just reviewing today play, I think the biggest thing that helped is that I was not glued to the screen looking for a play due to meetings today.
Day 3 Account 1 starting $1833
2 Trades both wins. Chased the morning pop. Was frustrated that my broker didn’t fill 5805c order so ended up purchasing an ITM for the 5810 call @ $13 and got stopped out at $15.40. Second trade 5800P $4.70 to $5.70. I got stopped out.
Ending Balance $2170 grew by about 19%
Account 2 starting $926.
3 trades 2 wins 1 loss. Trade 1: One 5815c $4.70 to $7.30. Trade 2: 5795 put $4.30 to $1.70. This one was green and I should have closed when it hit $6 but I think I was being greedy hoping it would break. Today was a trend day so definitely did a few things wrong including not setting my stop. Trade 3: 1 5815c $3.90 to $5.10
Ending Balance: $1039 grew by about 11%
Side note: I took a loss in my larger account that’s not in this challenge. -$830 for trying to force trades and trying to multitask too many accounts at once. Just a note where I was not disciplined that I paid for. Lesson received.
I started with two different Accounts.
Account 1: $680 starting balance. 3 trades today. First trade 2 $5800 call for 0.60. Closed 1 @ $1.35 and the last at $4.60.
Second trade: Quick Scalp 5770 Put $3.40 to $6.70
Last trade: 2 contracts $5800 call @ 0.50 to $0.90 and 1.40
Ending balance $1600 grew by 135%
Account 2: Starting Balance $390
4 contracts 5800 call at 0.95 closed 3 @ 2.35 and 1 @ 0.85
Ending Balance: $800 grew by 100%
Day 3 Account Challenge.
used 25% allocation: 800 allocation.
Trade 1: 4 contract at 1.80 out with $5.50 average: 1480 profit
Trade 2: 4 contract at 0.50 out 2 at $1.20, 1 @ 2.20 and 1 at 0.8. : 440 profit
If I held for Trade 1 all day: it hit 25 could have been 5k profit.
End balance: about 4800 (after fees)
Big account took a bath in some swings, while the PDD swing short went from 1.50 to 7 for a small net loss. If MSTR and SMCI don't recover tomorrow or Thursday, big account will be unhappy.
Day starting $1555:
Trade 1:
Broke allocation rule: used 5 contracts risking $500 or 50%
SPX 5830p $2 ->3, out at 2.20 for $100 gain (failed to break and follow through)
Trade 2:
SPX 5870c $0.45 -> 1, 2.50, 3.50. $450, risk 100%. 5 at 1 for $250, 2 at 2.50 for $200, and 3 at 3.30 for 840
End Balance: 2945
I keep forgetting to trade in small account. I'll need to make sure to be on top of it this coming week.
Overall great trades/ideas Friday. The big one being to short above 579.50. and getting a random candle that pumped the contracts to 13 for just seconds before dropping back under $3.
My sell order filled at 3 and 6. I would have missed the exits if I didn't have the exit orders in place. Good policy to place sell orders in advance.
How did you all do?
I'll start. I traded late in this baby account and chased with bad entry. Don't recall the particulars but only made $555. It was using SPX 5790c targeting 5797 level for the exit at $7. Went right to the target but I got stopped on some for loss since I entered too early minimizing gains. If I executed correctly in this small account, gain would have been $2000+ using $500 capital
Setup : Squeezer
Start: 1000
End: 1555
Growth 55%
Day 13 Check In Small accounts.
I haven’t traded much the past few days due to the chop. Today I caught a few plays in respect to 5840, 5820 and 5810 puts.
Beginning balance: $5740
Ending Balance: $7110 account up by 25%
Day 12 Check In Small accounts.
I didn’t share anything yesterday just to take a moment back to reflect on what I did wrong for my day 10 activity. Did a couple trades yesterday that kept me in same area.
Today I caught a couple great plays starting with waiting for the gap up reversal when SPX couldn’t clear $5860. I played puts all day today 5845, 5835 and 5800. I waited for SPX to hit resistance and locked in profits at 200-300%. Today I played between 1 and 2 contracts at time given today was Friday and Theta bites. Patience is what paid today.
Beginning balance: $3358
Ending Balance: $5740 up by about 75%
Great job planning, preparing, and executing!
Day 10 Check In Small accounts.
Today I should not have traded given my mood and schedule. I broke rules because my head was not in the game. I also did one of the things that they say not to do while trading which was watching the money which led me to being emotionally attached. Unfortunately it shows in account 2 which I’ll consider the loss as a blown account. Trading requires discipline and rules and only way to be great at it is sticking with the rules. I’ll continue the challenge but it will be off of account 1 for the remaining 10 days. And may start another challenge with Account 2 at a later date.
Account 1 Beginning balance: $4927
Account 1 Ending Balance: $3358. Account down by 35%.
Account 2 Beginning balance: $2261
Account 2 Ending Balance: $350. Blown
Day 9 Check In Small accounts.
This morning I took on 3 trades from each account. All three were profitable wins. I set my stops and let them fill. Looking back I could have made 500%+ on my first 2 trades in the morning but my stops took me out which prompted me to buy the next level down. I was in 5865P (acct 1) and 5860Ps (acct 2), then $5850p 2nd trade and then $5830ps for last trade. In the morning my accounts were up 40% and 100% respectively. I did give a little back with my afternoon trades but overall happy with the results.
Account 1 Beginning balance: $3216
Account 1 Ending Balance: $4927. Account up by 35%.
Account 2 Beginning balance: $1334
Account 2 Ending Balance: $2261 Account up by 70%
The goal is growth and being consistent with taking profits. At some point I’ll hit the 500% but I’m happy with all gains.
Great work on your account growth and most of staying focus on process and collecting profits systematically. Make sure your are also being consistent with your allocations where you aren’t thinking about $amounts and more about whatever the process says.
Hopefully building that muscle will get you past the bad behaviors in the past.
Unfortunately today I did not follow the rules and really had a bad day. I should not have traded knowing how I was feeling. Messed up account 2. Going to continue with just account 1 but after a couple days.
Did you follow capital allocation rules? In Theo try you should not be able to “mess up the account” if you do.
I did not. I was frustrated before I even made the first trade which was the first thing I did wrong and then didn’t set stops. It’s my fault and I know what I did.
Day 8 check in
I switched up how I was playing today. I originally was buying same contracts in both accounts and decided to go off of that system on Friday and it shows in respect to both accounts. One account gained and one loss. I’ll be back to normal this week when opportunity shows!
Account 1 Beginning balance: $3129
Account 1 Ending Balance: $3216 ($87 gain)
Account 2 Beginning balance: $1583.95
Account 2 Ending Balance: $1334 down by about 15%.
I did something stupid in account 2 and held the position too long thinking that OPEX was going to turn in to something at the end of the day. The position was green and I had opportunity to get out but didn’t set stop loss and was HOPING for a big run. The market don’t care what I hope for, so keeping in mind the point of the challenge is to take all gains and to grow the small account, I will focus on keeping to task and setting very tight stop losses for plays I’m not that confident in and making sure not to let any green trades go red! I played both calls and puts in SPX and could have quit after my first trade of the day bc both accounts were green. I don’t need to take on more than one or two trades a day.
Day 7 -check in
Today I was not able to get my fills from my broker. I saw the move and I guess moved to slow and then switch to another strike. Also today theta was BITING so you had to be quick and couldn’t stick around and I paid for slightly in Account 2.
Account 1 Beginning balance: $2919.39
Account 1 Ending Balance: $3129 grew by 7%
Account 2 Beginning balance: $1678.85
Account 2 Ending Balance: $1583.95 down by about 5%.
I was in the 5845 puts towards the end of day but theta was biting hard and should have left my first limit order on for a while long but one green candle took all the profits and some. Overall down in this account by $80. It could have been a lot worse if I had multiple contracts.
Day 6 Check In
Today was frustrating, things look one way but did the opposite. It was definitely a trend day. I’m red for the day. Took 3 trades from each account and loss because I was fighting the trend. I tried 5800P, 5825P and 5835puts.
Account 1 Beginning balance: $3832.51
Account 1 End of day balance: $2919.39 down by 24%
Account 2 Beginning Balance: $2587.20
Account 2 Ending Balance: $1678.85 down by 35%.
I have to remember on trend days that a 10% profit is better than a loss. Given today’s action I don’t plan on taking any trades unless it’s a perfect setup. If I do I’ll also scale down to one contract given that today was red.
Day 4 Account 1 Beginning Balance $2170
One trade today 2 5875c contracts 0.30 to 1.20 at the end of day.
Ending Balance: $2347 grew by about 8%
Account 2: starting balance $1036
Two trades that turned into a wash first trade was the 5845 puts. $4.10 to 5.10. Jumped out too quick after it broke trend and would have been able to make at least 50% on this trade if I waited for the retest of the support line. Second trade $5840p 1.15 to 0.25.
Ending balance:$1046