Welcome traders to the sixth week's (#6) trading result income report.
If you are new here - with the help of these reports I'm documenting my path trading options on indexes and futures in the previous week.
I started my trading journal on September 23, 2019, and it's planned that there will be at least 52 such articles for the next 52 weeks.
52 weeks covers a lifespan for one year. One year is a great time to learn and master trading. With these reports, I hope to improve my trading skills and premiums over time.
Trading week 44 was from October 25 until November 1, 2019 (Monday - Friday)
In total: 26 trades
12 winning trades, 0 losing trades, 14 trades open, (in total 30 open trades from the previous weeks)
- The total premium collected $1,186.98*
- Total paid in commissions: $157.42
- Average premium per lot: $0.78
*Actually I collected $1,971.38 premiums this week, but there were a few roll forward trades from the previous week trades, which were closed as losing trades (yet)
This week I was trading more longer-term options (up to 92 days), also 0DTE, 1DTE and of course weeklies, bi-weeklies, and monthlies
Most trades were vertical spreads (bear calls and bull puts)
- biggest win: $43 with 1 put bull spread on GC 1465/1470
- biggest loss: none
This week was the highest in terms of income so far. If I would manage to make $1,186.98 every week for 52 weeks in a row, it would give me $61,722.96/year. Wow, that's the number I would love to take.
Weekly trading results
So far (after 6 weeks) I've made $3,164.53 (on average $527.42/week), if I would keep the averages for the next 46 weeks, it would translate into $27,425 at the end of this experiment. I'll take it.
Looking to make at least $450 (after commissions) next week
I'm starting to develop some guidelines for my trading, here are few I'm planning to implement next week:
- Current available funds: > EUR 500
- Open trades: max 32
Looking to trade bigger size 0DTE lots on SPX