Saturday, March 25, 2017

My recent trading

I have been trading for nearly 40 years.  I have traded everything I think under the sun.
-
I have had periods of good success and lots of periods of not so good success.
-
Most of the recent posting has been of futures trading. At best, I am a break even futures trader.  And at my worse times, I am losing about 5k a year.
-
Not too long ago I started trading options again.  I decided to trade by selling premium. My previous option trading was either covered calls or trying to get into stock positions at better prices.
-
I gave it try and had a good track record except for my P&L. I was mainly selling naked put options on earnings plays.  I had 34 wins and only 2 losses but those where two very big losses.  My net was -$578.44. The two losses were $2600 and $1500. The first I should should have gotten out a -$300 and then I had two break evens chances.  Neither I took. The second trade I could have covered my position in premarket by selling stock short for a loss of $600 but instead tried to recover my loss once the market opened. Bad idea.
-
I felt I needed some training but did not want to pay a lot for it. This is when I came across Tastytrade.  Their training was free and tons of it.  I found out very quickly I did not know what i was doing and i was taking insane risks at times - aka I was very lucky.
-
Since I learned a ton of stuff from them (and I am still in the process of learning),  I have made money.  Trading has become easy again for me like it was in the late 90's but on the other hand, it was easy for everyone back then.
-
My trading record using the Tastytrade way of trading is 86-15-17 (closed trades) with a profit of $4,468. I have open trades (17) with a combined loss of $1600.  One open position is accounting for most of that at $1,200 (frustrating earnings trade - lol). Once you learn about option trading, you will find you will have a lot of open positions at losses because you are always taking your winners quickly.
-
I am still doing a lot of mistakes but things seem to be working for me.
-
I am also trying to figure out the best way to post what I do.  I think posting is a good way to make sure you keep track of yourself.   

No comments: