My $500,000 Trading Account Update #3

My $500,000 Trading Account Update #3 | Coffee With Markus | Episode 136

Intro: 0:00
My $500K Trading Account Goal: 1:39
Where My Account Is At: 3:09
Deep Dive Q&A: 26:39
Q: What do you do when you get assigned and the stock price keeps plummeting?: 26:54
Q: Is there a time of day when I should no longer place wheel trades?: 28:28
Q: Is $250K the maximum amount one should have in one account?: 29:29
Q: Do you use speedtrader or something else?: 36:29
C: LMDN is a motley fool recommendation: 42:26
Q: What happens if I get a margin call?: 45:53

My Goal:
- Deposited $250K in a margin account for $500K buying power.
- Trade for income: Make $15,000 per month = $180,000 per year = 72% return based on the $500K
- $15,000 / 30 days = $500 per day, including weekends.

Today is Feb. 8th
- The profits I've made so far is $37,403 in REALIZED profits.

THE TRADING STRATEGY?
- Market conditions For January?
* The S&P 500 in January went massively down, then a few days later it traded choppy/sideways, then down again, and closed 1.35% down.
* PowerX Strategy: Directional strategy. This was not a great strategy for January, as the markets were not directional. Only took one trade.
* The Wheel Strategy: Best for Choppy/sideways and slightly higher markets so this was the strategy I mostly used in January.

- Market conditions For February?
* The S&P 500 has been moving higher and higher. A pullback may be coming.

WHAT YOU NEED TO KNOW ABOUT MARKET CONDITIONS?
- Directional (PowerX Strategy)
* Up
* Down
- Sideways (The Wheel Strategy)
* High Volatility
* Low Valatility

New cases for the pandemic have been going down, and the unemployment rate dropped.

Overall things are looking good, so what do I expect the markets to do?

The natural state of the markets is naturally chopping higher.

WHAT AM I DOING RIGHT NOW?
- Trading With The Wheel Strategy.
- closed out positions on Friday for a profit, and I am looking for new trades.
- possible trades the PowerX Optimizer brought up did not look like a good fit for me.
- I am being conservative:
* The Winning trades take care of themselves, focus on limiting your risk.

IN ORDER TO SUCCEED IN THE MARKETS:
- You have to be ready.
- The markets have to be ready.

Recommended links and videos:
The Wheel Strategy Playlist: https://youtube.com/playlist?list=PLBa3sAx-Io2nosgosERUhIZwzvIgD-3Vq
The PowerX Strategy Playlist: https://youtube.com/playlist?list=PLBa3sAx-Io2l9ZV4s66J-uNkG6AJvhSPB
How to manage a trade that's in trouble: https://youtu.be/G6tPKaz03Qo
Markus’ Plan: https://rockwelltrading.com/myplan
Markus’ Goal Video: https://youtu.be/muxakMimwj0
Portfolio vs Regular Margin: Portfolio Margin vs Regular Margin: https://www.youtube.com/watch?v=NJBOGJ5JiXs
Markus' Trading Routine: https://mytradingroutine.com
Cash Covered vs Naked Puts: https://www.youtube.com/watch?v=aUVw9HYrFFE

#OptionsTrading #FinancialGoalsFor2021 #TradingGoalsFor2021
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Видео My $500,000 Trading Account Update #3 канала Markus Heitkoetter