My Trading Plan For My New $500,000 Account

My Trading Plan For My New $500,000 Account | Coffee With Markus | Episode 125

Intro: 0:00
My Trading Plan: 1:20
Portfolio Margin: 5:06
The Wheel Strategy: 7:28
The PowerX Strategy: 9:37
Deep Dive Q&A: 22:53

I opened a new trading account with the goal of making $180K/year. There are steps I need to take to achieve this goal.
- Open margin account w/ tastyworks - COMPLETED
- Fund account with $250K for $500K of buying power - COMPLETED
- Document Trading Plan - I Will do this now.

So w/ the $250K in my account, I now have $1.5M in buying power, but I will only use $500K.

Leverage is a double-edged sword. You have to know what you're doing.

Strategies:
The Wheel Strategy - Strategy to earn income.

My Trading Plan:
GOAL: Make $15K per month / 30 days = $500 per day.
- Portfolio Margin: available for accounts above $150K. This means you are getting 6:1 leverage. You have to request Portfolio Margin.
Normal Margin is 2:1 leverage.
- Will only use $500K in buying power from the $1.5M
- I will trade up to 5 positions and allocate $100,000 per position
- Goal to make $100 per day per position.

The PowerX Strategy - Strategy for growth

-Allocating $100K in Buying Power
- Up to 3 Positions
- Risk: 2% of the account = $2,000
- Profit Target: $4,000
-50% Winning percentage.

Tools:
- PowerX Optimizer

Taking Profits:
- On the 1st of each month, wire any profits above the $250K cash balance into my personal checking account.
- Goal: $15K / month = 180K / year

Why use only $500K of the $1.5MM? So you have funds to work with if a trade goes against you.
Recommended Videos & Links:
tastyworks: http://rockwelltrading.com/tastyworks
Wheel Playlist: https://youtube.com/playlist?list=PLBa3sAx-Io2nosgosERUhIZwzvIgD-3Vq
Growth Trading vs Income Trading: https://www.youtube.com/watch?v=7aosZJwQ-kc
How To Manage A Trade In Trouble: https://www.youtube.com/watch?v=mac51XG-5E4
Markus’ Personal 2021 Growth Plan: https://rockwelltrading.com/myplan
Cash Covered vs Naked Puts: https://www.youtube.com/watch?v=aUVw9HYrFFE
Markus’ Trading Routine: http://www.mytradingroutine.com 
Get PowerX Strategy Book: https://bit.ly/2wMQ7zW
Money Management: https://www.youtube.com/watch?v=aBB1DrRKi4k
Options Trading 101: https://bit.ly/2V7Nf9T

#TradingPlan2021 #MyTradingPlan #OptionsTrading
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tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with Rockwell Trading Services, LLC whereby tastyworks pays compensation to Rockwell Trading Services, LLC to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Rockwell Trading Services, LLC by tastyworks and/or any of its affiliated companies. Neither tastyworks nor any of its affiliated companies is responsible for the privacy practices of Rockwell Trading Services, LLC or this website. tastyworks does not warrant the accuracy or content of the products or services offered by Rockwell Trading Services, LLC or this website. Rockwell Trading Services, LLC is independent and is not an affiliate of tastyworks.

Видео My Trading Plan For My New $500,000 Account канала Markus Heitkoetter