Hey guys!
With Robinhood allowing me to have a Cash + Options account, I thought of a fun challenge. Taking bot callouts, playing the trade ideas, and looking to DD on the forums explicitly in a low funded RH account, publishing my performance when I’m able to trade, and just starting having low-risk fun with low-initial balance accounts.
In the middle of this week I’ll throw some chunk of change at my RH account that I would prefer not to lose but won’t lose sleep over losing. That amount is up to you guys. Below is a poll of 3 possible values. What would you guys prefer that I start with? If you had to start over (or are starting over) and had to throw some small amount at it, where would you like to see me start and see how I can grow or blow this balance? Where could you gain some insights on how to trade with smaller balances?
On Wednesday I’ll take the winner and fund my account with that amount and start trading visibly with this account by Thursday.
3 Likes
I fund tomorrow so please someone save me from this deadlock in the vote!
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Poll is closed! Today I will be funding my Robinhood account with $118.50 based on the distribution of answers to this poll.
So I started with $118.50 at around 12:00PM today when my meetings were done. I pulled up my charts and got the notification from Mimir that the buy signal was weakening at 12:12PM and positioned myself for 2DTE OTM Puts as called out. I had to average down once when the movement wasn’t as violent as I had hoped, but in the end I ended up securing profit for a 44% gain. I’m also basically out of buying power ($10 left) so that’ll be all she wrote for the day.
Couple notes, because I want to turn this into something informative as well. I’ve had a small balance more than once and running to 2k isn’t something I find particularly difficult. There’s a couple rules I follow:
- Smaller balances are best built through very quick scalps. If you’re still on margin set aside trading time on MWF and try to do one a day. That mentality got me through a good portion of 2021 when I started trading a little more seriously.
- You will probably have to assume some risk. The bot right now is so incredibly helpful to help you manage that risk. Take the call out, look at the charts yourself, and make a determination as to whether or not it’s a good time to enter.
- When you’re in a high risk position, DO NOT lose sight of it, and DO NOT be afraid to take profit. There was a part of me that wanted to run this position to 50% but it just didn’t happen. The market is still bleeding, that contract is still likely gaining value above and beyond what I sold it for. I don’t care, because a 44% gain on a play is very good.
The positions I’ll be announcing that I’m taking will be higher risk until I cross a $500 threshold. This is just the method that has worked best for me.
2 Likes
I lied about being done and scalped a 397C 0DTE while driving to get my son from school. Call me “Less inspiring JB”
Account is up near $50 today so those hoping for me to start at $150 should be somewhat happy. Kind of.
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