Performance reset and looking forward

After last week's fiasco I decided it would be a good idea to write off last week as learning curve as a group and start tracking today on. I kept the numbers for reference but started a new spreadsheet. This week is starting out much better.

I have 8 trades completed with a $22.43 per trade overall average, net losses and commissions so that is a real number. That is $89.72 per trading day. A little shy of my $200 per day average target. I am also trading about half size trades as I am still in test mode. I need to double my position sizing after I have more confidence in the system so I can increase my profits in the same ratio as losses in order to keep the balance between the two...seeing as I do not know ahead of time which ones will be winners and which will be losers.

Keeping in mind that this daily average only counts the daytrading. I have my Futures options and longer term swing trades to add in there as well. I will be counting the whole works together when I come up with my final daily tallies so I expect that I should be able to surpass $200 per day readily enough... even though I would like to see that target met on each individual plan.

Step one first.

Once I get these going I will investigate the few other plans that I wanted to do completely independently.

Following that I want to transfer a bunch of cash to my TFSA and get that up and going again. The thing about margin accounts with Questrade is that, while they do allow 3:1 for stock trading they don't allow any for options. I understand that as options can very volatile and can lose their entire value quickly if not careful. This means that there is no advantage in holding option trades in a margin account so they may as well be in a tax sheltered account. I plan on transferring chunks of cash in large enough quantities to cover one or two trades at a time.

Jeff.