Thursday, September 3, 2020

September cash management strategy and another successful day +20%

Trying something new starting Sept 1. I am holding my account at this very low level. I think I trade well at this small account size, maybe less emotions. So all gains above this basic level I will skim each night into the "reserves" account. Basically, I'm going to pay myself every day. The account I want to see grow is the reserve account.

Maybe it seems counter-intuitive, that if I'm trading well I should increase size. But I think in this case the opposite. I trade well at this $level so MY best opportunity for profits is to keep producing here. Maybe in October I will evaluate the option to increase the base account size by some increment. This might be a good strategy for me... to stabilize at this account size versus growing so fast (a curse we all should have? that my account grows too fast!)

Today was a very satisfying trading day, though maybe that could have gone either way. I traded NVAX long and NVDA short. Each had huge spreads on the options. I went in on mkt orders and out on conservative limits. Maybe I left some on the table, but on the other hand, I made really nice gains today with very little psychological exposure. 








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