Apparent new plan...timing or what.

It would appear that John is shaking the tree to weed out the small accounts and the uninitiated or inexperienced traders. Today's trade were small and could have been let run for larger gains instead of the 10% gross returns. This plays hard against small accounts due to the larger relative commission cost and the net profits not being large enough to cover operating expenses.

The last three days have barely netted me $100. That would make a month barely cover the cost of the service without counting any other data services and whatnot. Even taking June altogether the daily average is about $41 due to the largish losses due to expiry's and closing a few positions in the interest of starting from scratch.

Even just going to IB for the exact same trades I would be at almost $200. My daily June average would be $99 and I would have at least doubled the expenses for the month.

Then taking all my current capital and doubling the trades my daily average would have been $198. More respectable but I am planning on tripling my startup right away as a minimum which has me at the $297 mark. Keeping in mind that I have not been equal weighting my trades this month and this includes taking a $15,000 loss in the mix... that would not happen given the new trading plan. Just reducing the big loss to a smaller loss, which I did the calculations already once, puts me at a $700+ daily average.

Of course, as always, these are projected numbers but they serve to give me an idea of where to place my expectations.

Yesterday I had made a list of action items to take me to the next phase of my trading and it included buying an i-phone to allow trading while away. Upon looking into doing this I see that the i-phone 4 is due out next month. Given some of the increased functionality (multi-tasking is a big one for me) I will wait and get one of those instead. The larger battery will be nice as well as the newer email setup.

Among the other things to do this week were transferring my free cash into my margin account, completing the IB account application, continuing trading in the TFSA for now to finish out this month, liquidating my stocks.

So my timing is very good. I am just getting ready to increase my daytrade capital when we are shaking out small accounts, buying a new i-phone when the i-phone 4 is due out, setting up an IB account at the time when I might expect to be able to fund it properly next month.

I'll update my stats after the end of this month, as poor as they are going to look.

Jeff.