Though I have been offered more trading funds, I have declined in favor of organic account growth. Where $100 gain was once upon a time a huge triumph, now it might be just the spread on my trade. A 2% gain on my account is a lot more $$ than it used to be. I want to get used to increasing size as I go, so I don't freak out by the swings.
Will I hit liquidity problems... maybe eventually. I already have long ago discovered that it's a bad idea to trade thin options, whether it's 1 contract or several. Otoh, I can't imagine a time I might be taking 100 contracts... but maybe! I want to scale into that "problem" as I grow.
I acknowledge that the market has been SUPER hot lately. My premkt gap scan used to bring 2-5% moves on 3x volume (was juicy!). Now I'm routinely seeing 10-30% gaps on 20x volume at the top of my scan. Not always tradable by my rules, but volatility is here! Isn't it my job to capitalize on a hot market?!
I feel I've found a way to manage my impulse/discipline. That feels like how I really turned the corner. First of all, I have a cash account. I have enough leverage by trading options, I don't want to be able to get in over my head (see organic growth). I keep some proportion of my money in a linked checking account and only some of my money in the trading account. If I need more trading cash, I need to transfer the money. Even though the money transfers instantly, this act of logging in and doling out my money to myself in increments puts up enough of a hurdle that I have time to blink and rationalize before dumping/jumping in over and over again.
And of course, clockwork trading rules: small size, pay myself first, tight stop is the right stop. Fast in and out. Have freedom during the day and sleep well at night.
I used to say: I won't get rich quickly, but I might get rich slowly.
It's happening! My account is growing (though I'm far from "rich") and I feel like things are clicking.
I keep wondering, how will my skills serve me when the market cools off? I'll need to stick to clockwork. And I'll need to stop trading when my edge isn't there.
Today's trades: I went slow into the open. Even though there was a lot of action. I started with just 1 BTBT call, waited for it to fill and appear. Then another. I traded exceedingly small until I was convinced that trades would fill smoothly.
