What is MyOptionsJournal about?
Well, primarily, it’s what the site name entails. It’s my trade journal.
As a trader, you need to have a trade journal, to keep track of things, and know why you did what you did. I could jot this data down on a notepad, and I could just have an Excel spreadsheet, but instead, I have this site. Also, I feel that having all of my thoughts be public, makes me document things in a more precise way.
Who are you?
Hello, my name is Tom 🙂 I have a BA in economics, and an MBA in business from Oxford Brooks University.
I graduated college at the age of 21 in 2001. I had already started working at a bank in my placement year at college, when I was 20. I held a number of roles and positions, and at the age of 25, I became the banking group’s top marketing executive, responsible for the marketing activities of the 3 companies making up the group. At the age of 28, I quit my high profile job and career to start something for myself. My rationale was that if I can make money for the bank I worked for, I can certainly make money for myself, on my own terms. Sometimes I toy with the thought of how my life would have progressed if I would have stayed in the corporate world, but not much.
I have been involved in internet marketing ever since leaving the bank, and am having the time of my life with my wife and 2 kids. No more day jobs for me, all I need is a laptop.
I have always been interested in investing, and have always traded stocks. A while back, I realized that the -5% to 5% gains I can make on my money at a bank or investment house is just silly, so I became a self directed investor. With time, I arrived at non-directional options trading, which fits my lifestyle perfectly.
What is your trading strategy?
I am predominantly a non-directional trader, using short strangles. I do not want to double my account every year (and in the process, risk my savings). My trading goal is to profit 30-40% per year.
My instruments of choice are:
My school of thought is that you don’t need to be scanning all of the stocks in the world non-stop, to be a successful trader. Have 3-4 instruments you know inside-out, and use those.
I’ll write a detailed post on my strategy at a later time.
Should you copy my trades?
I do not want to tell you what to do, or what not to do. The things I write on my website are my own thoughts, and nothing else. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice.
So in short, whatever you do, you do it at your own risk. If you want the long version, read this disclaimer.