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
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.
3 trades for the day 1 loss 2 wins for this account. First trade 1 $5790 c $7.80 to $5.20 respected stop so it was a loss monetary but win in respect to following my rules. Second Trade 1 $5790 c $6.10 to 8.40. This could have been more but didn’t raise my stop. Contracts got as high as $12 and took a call. Last trade 3 5785c for $0.50 to 1.40. Since it was the end of day I just set the limit amount I wanted and got filled. Contracts jumped to $2.60 but had limit price a little over 100% to get filled.
Ending balance $1833 grew account by 14%.
Account #2 Starting Balance $800
Two trades from this account. 1 win, 1 loss. First trade 1 $5795 c $6.50 to $3.70. Loss but stopped out. Last trade 1 5790c $5 to $9.10.
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 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
Day 2 trading.
Account 1. Starting Balance $1600
3 trades for the day 1 loss 2 wins for this account. First trade 1 $5790 c $7.80 to $5.20 respected stop so it was a loss monetary but win in respect to following my rules. Second Trade 1 $5790 c $6.10 to 8.40. This could have been more but didn’t raise my stop. Contracts got as high as $12 and took a call. Last trade 3 5785c for $0.50 to 1.40. Since it was the end of day I just set the limit amount I wanted and got filled. Contracts jumped to $2.60 but had limit price a little over 100% to get filled.
Ending balance $1833 grew account by 14%.
Account #2 Starting Balance $800
Two trades from this account. 1 win, 1 loss. First trade 1 $5795 c $6.50 to $3.70. Loss but stopped out. Last trade 1 5790c $5 to $9.10.
Ending Balance: $926 grew account by 15%.
Hi, I will begin tomorrow. I found out about it this morning. Thanks for all you do spectra
No trade in this account today😁 I think I’m going to focus on gap down reversals
This should be exciting!
I’m in! Starting with a smaller account but will play along with this challenge.