Friday's game plan
May 26, 2023 | Read Online | $2,000 Small Account Journey Friday's game plan |
| | | Good morning, Jay here. | Inflation data out at 8:30 am ET and debt ceiling negotiations will be the drivers headed into the long holiday weekend. | U.S. stock futures look good this morning and if META and TSLA head higher, I'll look to lock in the wins and cross into benchmark 3. | I plan to do a new workshop for Small Account Journey to discuss what to expect in benchmark 3. I'll confirm later but am thinking 1-2 pm ET on Saturday, Sunday, and Monday in the $2K SAJ chat. It'll be recorded. | | Not a member? Click here to subscribe and get the alerts before I enter and exit these trades. I think the education here is invaluable. $297 / quarter or $699 / year. | | I'm fully allocated headed into Friday so no new trades on watch this morning. | Balance: $9,580 +379% or +$7,580 Status: META and TSLA bull Puts Allocation: benchmark 2 or 50%
| | Here is the approach I am targeting. | $2K-$5K 100% allocation to get the account up in value fast $5K-$10K 50% allocation (2 $2.5K-$5K trades open at a time) $10K-$20K 25% allocation (4 $2.5K-$5K trades open at a time) $20K-$100K 15% allocation (7 $3K-$15K trades open at a time) $100K+ is 10% allocation (10 $10K trades open at a time)
| It might need refinement if things don't go the way I'd like but it's always good to have a reasoned starting point and then to reflect and refine. Nothing is promised and my plan might not work exactly the way I'd like but I have the experience and expertise to refine and move forward with confidence. | | Guidelines: | Tickers: best co's in world, earnings winners, strong guidance Order type: bull put (neutral to bullish i.e. good co's tend to go up) Target entry: 1-2 strikes below price and defined by technical analysis (sell below big support to boost odds) Entry (credit) goal: 30% of the spread width i.e. $10 wide = $3, $5 wide = $1.50 etc… Exit (debit) goal: 30% if achieved on day 1-2, otherwise 50% of the credit Stop loss strategy: defined by sold strike (conservative) or bought strike (liberal) Allocation: starts at 100% and works through 5 benchmarks to diversify risk as the account grows Expiry: 2-3 weeks from expiration (conservative) or 5-7 days from expiration (fastest rate of decay) Frequency: Depends on benchmark, currently 3-4 per week
| I want to point out that I cannot speak for my members' performance, as results may not be typical and trading is HARD. And I cannot guarantee you will make money, but what I can guarantee is that I will work my BUTT OFF to teach you WHY I trade WHAT I trade. | | Not a member? Click here to subscribe and get the alerts before I enter and exit these trades. I think the education here is invaluable. $297 / quarter or $699 / year. | | |
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Lee, NH 03861, United States | |
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