Well, this past week was a roller coaster. I started with a zero day on Monday, just opening trades, continued with a good Tuesday, a down Wednesday... then Thursday hit.
Daytrading turned over $800 net, which was nice but the real kicker was all the momentum options trades that I closed as the market did it's thing. I closed about 20 positions at various points over the afternoon and saw well over $7,000 net profits. Based on the capital in play that is about a 70% ROI.
This month, one week in at least, I have set every trade at 3 contracts so, other than attempting to cherry pick trades, I have fully optimized my trading plan as I should have been doing all along. Plugging in 4 contracts shows about an increase of 50% in profits. That makes the move to 4 the largest gain in potential as I am getting past the effect of commissions. I posted a chart already indicating the increase, by percentage, for each single contract increase in overall trade size.
I could go right to 4 now but I would like to have one more week at three as I cannot run 10 trades at 4 yet... although one day will change that if is a profitable day.
On another note, Questrade has dropped the $5 daily fee for trading in US securities in a TFSA and RRSP account. That will bump my bottom line by $100 a month. That alone is a 1.5% per month increase in profits based on my original starting capital in the TFSA. Not a lot compared to the overall but every little bit does help.
Questrade, My direct access discount broker.
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