Starting a new journal based on an idea I’ve had for a while for my own personal trading, plus to log the results for public discord.
The idea is similar to Thot’s old 2% challenge, but I will in no way be full-porting into positions to catch price discrepancies and run away with a quick 2%. I tried that, and for me, I’m either not quick enough or I picked the wrong side one too many times for my own liking.
So instead I’ll just be focusing on 1-2 trades per day which add up to 1-2% port gains. The math is simple, and this can be done an infinite number of ways.
My beginning thesis is to trade 10-15% of my port and cash out 10%. This gets you 1-1.5%. Easier said than done, but with patience and smart trades, it’s quite doable. I’ve had some success with this on and off, and with some focus and resisting the temptation to hop back in after I’ve cleared this hurdle, I’m optimistic. Based on the day or options prices, you can scale either end of this up or down to achieve the desired result (20% port for 5% gain, 10% port for 20% gain, etc). This lets you work with the options prices you’re dealing with.
Most important part is securing gains and walking away when you’ve hit your daily goal. This is always hard for me, especially if I hit it first thing in the morning, so logging this here will help keep me accountable.
What I’d like to show is how taking those small wins consistently grows the port & makes you a better trader. I’ll report back if that works lol.
Starting tomorrow. Will keep dollar amounts out of the conversation and will be logging percentages. Hopefully the next 3 days we see 3-6% on the port. I’ll be logging wins and losses, and my thoughts are that playing a smaller percentage of my portfolio will also lead to smaller losses if we get stuck in a bad trade.
