Good question and I would like to say the plan would be to turn $2000 into my main trading account, but maybe a good short term goal is $2000 into $8000, then start over with another $2000 challenge.
I want to get where I can comfortably have >25,000 in a single trading account. (I have 2 accounts, but don't trade options in the other, just stocks)
(I put some of my earlier profits away for taxes/bills so at least I know I'll end the year in the plus column one way or the other.)
yeah, GOOG trade was an example of putting too much into one basket. It was up over $1500 bucks before it went straight down. I didn't want to sell because I had another big position and limited day trades left. Hence why I want to keep daytrade style trades to a minimum and position sizes low.
For instance if I follow my rules and a swingtrade goes up significantly right away (i.e. %100-%200 in a day) then I can get out easily without riskiing other trades)
I've noticed with many of Jimmybob's trades that he holds his options for at least a week or so(or keeps at the same stock for awhile). SHLD was a good example where he called it long, it went up then down and wiped out my position. Then I just readded the next week and boom. (that's the power of smaller positons and having "dry powder" left if a position craps out).
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