Hi my name is Nick, I’m 29 years old and I live in Australia. I’m an average joe just like many of you out there. I work a full time, corporate job within the IT industry but have recently decided that I don’t want to be working for the rest of my life so I’ve begun to set myself up with a few extra income sources, one of which is my trading account.
Welcome to my trade journal, I’m starting this blog for the same reason many other traders start blogs, to record down my thoughts on each trade before I enter them and to review each trade as they close and hopefully, I’ll learn a thing or two with each one. I’ll be recording these learnings down as they come and I’ll be glad to have you along with me as I begin my journey.
I have two main strategies, one is an option writing strategy where I write options and sell them at a one month expiry. The aim of this strategy is to generate a regular income by collecting premium each month. The other strategy I run is more of a long term capital gain strategy with asymmetric payoffs, this is where I buy long term options with a 1 – 5 year expiry that I believe are under valued and have the potential for an asymmetric payoff.
Both strategies will be explained in greater detail within their own separate pages or posts on the site. Prior to starting this blog I have to say that I have very little trading experience, I have only just started running the income trading strategy at the start of this year and have only just started trading the long term, asymmetric strategy recently.
As previously mentioned, the aim of this blog is to try and record down my thoughts on each trade I enter and to review each trade I close with the hope that I grow as a trader with each one. Thank you for reading my first post and please continue to follow me as I enter the exciting world of the financial markets!