Objectives
- Trade options based on technical analysis in order to take advantage of short-term movements in the underlying stock.
- Build a system that produces consistent results even though the result of any particular trade cannot be predicted and some percentage of trades are guaranteed to fail.
- Continuously monitor and modify the system to produce more consistent results.
Goals
Long Term Goal
- Create a trading system that will pay for my cost of living.
Medium Term Goals - 12 months
- Establish a consistent routine of trading based on this plan
- Develop a consistent methodology for testing and analyzing new techniques
- Eliminate emotional trades
- Show consistent profits
- Develop this website into a good resource for people interested in becoming better traders
Short Term Goals - 90 days
-
Take every trade that fits my entry criteria
- Come up with a plan for how to trade during earnings season
- Let all of my positions close using their predefined exits
- Use results of analysis on past trades to modify my trading plan, if necessary
Non-Goals
- I will not try to predict the future movements of the market or any individual stock
- I do not need to always be correct in order to make money
- I cannot avoid losing trades
Previous Goals
Q2 FY08
-
Take every trade that fits my entry criteria
-
Come up with a plan for how to trade during earnings season
-
Evaluate results of recent trades and analyze alternative exit strategies
-
Continue updating this website on a regular basis
Q1 FY08
- Get this website up and running
- Develop a routine of constantly keeping the website up-to-date
- Start making trades and recording my results
- Begin experimenting with new techniques
