Here are my Goals for 2012. I will write a post about each segment in future.
Personal Health.
1. Goal weight 185 or less.
2. Eat as close to paleo as possible.
3. Learn to have more patience with my children.
Career.
1. As I am starting a new career path, Learn the ropes. Perform above expectations and meet all goals.
2. Pass PANRE exam next year
Financial
1. Open IRA account for wife.
2. Greater than 12% return on trading IRA account--See trading plan post.
Spiritual
1. Complete RCIA classes.
2. If Spirit move me, join Catholic Church.
3. Spend time each day/week reading/praying/quiet time meditating with my Lord Jesus.
Saturday, December 31, 2011
Sunday, December 18, 2011
My trading Plan
I've started the experiment of trading in my IRA account. I've tried a mixture of Stocks and Options. I had 2 significant losses which really hurt my account value. Since then, I've reduced the frequency of my trades and settled on small incremental gains. I'm using a combination of Covered Calls and Calendar/Diagonal options strategies. This Blog will document my trades.
1. Goals.
To grow my small IRA account to a value in which I can have consistent yearly income by the time I am eligible to withdraw from my IRA. I am almost 37 yrs old so that gives me 22yrs to do this.
2. Strategy
a. Covered Calls.
Those that are familiar with covered calls know this strategy well. I will choose companies which pay a consistent dividend and strong solid companies that have weathered these volatile markets.
b. Calendar/Diagonal Options trades.
This will be similar to the Covered Calls strategy except that I will purchase Leap Calls (or Puts) for the stock surrogate. I will then sell weekly/monthly options against this long call.
3. Covered Calls
My goal is to sell Covered calls which will give me an annualized return of 15%. I will choose stock that I want to own long term as well as pay a 2-5% dividend/year.
4. Calendar/Diagonals
I will purchase a Long call more than 1 year out at a level consistent with lower part of 10 yeart chart. I will then sell weekly calss ATM or slightly OTM to gain .20 of extrinsic value per week. I will reclaim the initial cost of the long call and continue to sell weeklies until Long call is close to expiring. I then will sell the long call for what's left of intrinsic and extrinsic value.
1. Goals.
To grow my small IRA account to a value in which I can have consistent yearly income by the time I am eligible to withdraw from my IRA. I am almost 37 yrs old so that gives me 22yrs to do this.
2. Strategy
a. Covered Calls.
Those that are familiar with covered calls know this strategy well. I will choose companies which pay a consistent dividend and strong solid companies that have weathered these volatile markets.
b. Calendar/Diagonal Options trades.
This will be similar to the Covered Calls strategy except that I will purchase Leap Calls (or Puts) for the stock surrogate. I will then sell weekly/monthly options against this long call.
3. Covered Calls
My goal is to sell Covered calls which will give me an annualized return of 15%. I will choose stock that I want to own long term as well as pay a 2-5% dividend/year.
4. Calendar/Diagonals
I will purchase a Long call more than 1 year out at a level consistent with lower part of 10 yeart chart. I will then sell weekly calss ATM or slightly OTM to gain .20 of extrinsic value per week. I will reclaim the initial cost of the long call and continue to sell weeklies until Long call is close to expiring. I then will sell the long call for what's left of intrinsic and extrinsic value.
Subscribe to:
Posts (Atom)