Hey everyone, just an Average Joe that likes to trade the stock market - mostly for fun. I don't have a ton of starting capital, but I am trying to grow my $250 account to a steady monthly income. I trade a mix of stocks/options in my taxable account and trade between xiv/bonds in my IRA accounts. Taxable Account Open positions: 5/23/2016 1 TGT 6/70 CALLS .87 5/24/2016 2 AA 6/9.50 CALLS .33 5/24/2016 1 VXX 6/14 PUTS .62 tIRA Accounts Open position 4/4/2016 449 XIV $26.24
You are going to trade that $250 account with options? The biggest challenge is going to be commissions eating into your profits unless you can hit some good home runs in the early game! Good luck!
That's a big 10-4, the fee percentages cut too deep into the profit unless it is a home run. Even with my free trades at Merrill I still have to pay the fees on options. I would find another strategy Average Joe
Yes, the 250 is a small amount - but my view is the commissions are ~$8 through scottrade $16 roud trip. Buying the stock is $7/$14 round trip. But, there is more upside trading the options with the small amount owning 100 shares vs 10 or so. Like I said this is mostly just for fun. If I make money, so be it - just learning.
closed my 1 TGT 6/70 CALLS .87 @ 1.04 yesterday 5/25/2016. Made just enough to cover commissions - again I am just testing my system. I am still in all other positions.
closed my 2 AA 6/9.50 CALLS .33 @ .35 today 5/27/2016. small gain on the call, but ultimately loss due to commissions. I have been paper trading for a little over a year and wanted to implement my learning with real $ trades. I have just deposited $4K into my account and will post my new trades. I am still holding 1 VXX 6/14.00 PUT .62 in my taxable and 449 XIV $26.24 in my tIRA. I have indicators that are signalling a possible market downturn (I know everyone is calling for it), but I am looking to position myself bearish once there is a confirmation. Could be anywhere from 1-2 months.
sold my 1 VXX 1 VXX 6/14.00 PUT for .87 28.73% gain before commissions. Is the market heading for a pullback?!?
Way early on the VXX Put sell. I would be up over 100% right now if I would have not sold them. Oh well, still refining my system - and I still think there is a correction and/or bear market to come shortly.
