Play It On Paper- Clappy's Newbie Option Thread Message Board

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Pastimes : Play It On Paper- Clappy's Newbie Option Thread

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To: Clappy who started this subject	8/21/2000 6:12:44 PM
From: Clappy	Read Replies (1) of 176

Month 2. Restart with new balance of $10,000. I learned a lot in the first month of paper trading these options. I started out great, but then I think I began to make market predictions too close to expiration, that did not happen. In addition, as we got closer to expiration, I continued to buy puts that were far out of the money. I realize now that these do not move as much as we approach expiration. I assumed I could day trade and be able to make quick easy money. These are harder to repair or roll out. I learned a lesson. I also have to try to practice managing my money better. I don't have the patience to calculate my remaining balance. I assume it was close to $1,000- $2,000. I'm going to start this month with a fresh account of $10,000. I'm toying with the idea of starting with a new balance each and every month. This would limit my losses each month to a max of $10,000. If I have a profit, then it goes into my ficticious LTB&H account. Hopefully I learn a little more this month and avoid the mistakes I made previously. -ClapOff

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