THATS PROGRESS
After several false starts, I concluded that $5000 was too little money to trade successfully with. So I re-set my account after blowing up my account. Again.
This time around I started with double that amount. $10,000 - We'll see how it works this round.
Here are the trades, and the results of my trades thus far.
July 12 - I bought a July 80 Put on IBM, 10 contracts at $4.70, with a sell trigger at $6.00.
July 13 - The sell trigger sold for a total gain of $1269.81
July 13 - I bought a UNH Sept 45 call for $4.60 - 10 contracts
I lost my nerve after the stock didn't do what I had predicted it would do. So I tightened my trigger point to $4.70
July 17 - The contracts were closed out at $4.70
Profit? - 69.85
July 17 - 5 SHLD 145 Puts for $7.80 - Sell trigger at $10
July 18 - The contracts were closed out at $10 for a profit of $1069.94
July 19 - 10 SPY 126 Puts for 1.95 with a sell trigger at $2.60
July 21 - the contracts were closed out at $2.60 for a profit of $619.92
Overall the string of winning and neutral trades has brought my virtual account up from $10,000 to $13,000. That's a 30% gain in 12 days. Not bad.
I have orders in to buy puts on monday. The orders are to purchase the puts for less than they currently are selling for, and a target sell trigger at approximately a 25% profit for each position. The positions I am interested in are on these securities:
DO
HNT
MRO
PBR
UNH
We'll see how it goes eh? The reason I am going short on these stocks is twofold. First, the market is in a bearish stance at the moment. Second, these stocks have hit resistance and are headed down now, so they are in my opinion more likely to take a further dive.
1 Comments:
Virtual account? Does that mean you don't actually invest but just go through mock trades in preparation for when you will?
If you can make 30% in a matter of days, please invest real money now. Investing on a virtual basis has too high an opportunity cost.
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