$250 Account Challenge – Week 1

During the month of September with volatility approaching because the election I have decided to challenge myself for 30 days. My goal is to capture at least 50% profit by the end of the month $125, ending with an account value of $375. I will mostly be using credit spreads placed on Friday, expiring the following Friday. The net credit for these spreads will equal $50, which means it will cover one of my losses. Placing trades with a minimum probability of 70%.

Goal: 50% Profit (+$125)

Rules: Never risking entire account, no day trades

Strategy: 3 credit spreads a week netting 50$, using $150 collateral

$TNA

My theory being that with 70% probability worst case scenario is hitting 2 out of 3 spreads, and with my credit being $50 it will cover the loss. Ideally all 3 of the spreads expire, netting me with $50 profit. After a week or two, I might aim for a higher % probability which that means less credit. If at any times a spread times is 60% profit, I will be closing that trade to mitigate the risk. Trading this way will make me plan my trades, and not over trade during this uncertain time. I will post my results on Sundays and my trades for the week.