| Author | Message | ||
     Andhrajamesbond Kurra Bewarse Username: Andhrajamesbond Post Number: 1421 Registered: 03-2004 Posted From: 166.137.90.88 Rating: N/A |
You have received new message Pitakabu Portfolio Doubling Challenge: Hi Guys, I am giving myself a challenge. The challenge is to double my options portfolio. I am changing my etrade account to cash account and it will be done by Thursday. So I will have a etrade cash account with $5000 in it. I am planning to use this account only for trading options. Since this will be cash account, I can do day trades with this money, and it will be settled the next day. Here are my trading rules 1) Just 3 trades per day and all of them will be day trades. 2) 1st trade will be with 50% of the money, i.e 2500. 3) Will close the trade as soon as I get 10% profit. 4) If I am getting a loss, buy the opposite side of the same stock with the other $2500. {If trade1 is calls, this trade will be puts}. Now I will have both calls and puts and try to close both the trades even. 5) If Trade #1 is successful, Trade #2 will be with $1250. And then Trade #3 will be another 1250. Once I have traded with all my $5000, I wont be able to make any more trades on the same day. It will be settled by the next day and I will do the same again. If everything goes well according to the plan, I should finish my challenge in 2-3 weeks. This will start on Thursday. Let me know if you guys liked it. Message me if you guys are ready to do the same with me. Let us all double our portfolio... All the best. Thanks, Pitakabu PS: In addition to this challenge, I will be trading stocks and ETFs as usual in my other account. Learn More |