A small introduction about me.
I was trading before on and off for few years and was never profitable. Mostly day trading, never felt okay with overnight holdings. Be it in cash segment or derivatives, almost always square off before the end of the day.
About a month back, my cousin asked if I could help him with trading. I said NO as my track record is not good, I am not someone you should get help from. Going by the online article, only 1% of the traders make money, you should try different investment / business option. He kept insisting and I am also doing some odd jobs and post corona things aren't good. In the end, I said okay and started trading few weeks back. I explained what kinda returns he can expect from this and everything I thought he should know before we started.
1st day wasn't good, in fact it was bad. It's me, responsible for the loss. Lost about 4% on the day one.
The idea is to make 40-50% per annum. Decided to trade low risk option strategies like spreads, but me been a day trader in the past, couldn't trade the spreads as it's supposed to be done. Short strangle/straddle scares the sh?t out of me cause of the unlimited downside. Long/short iron condor/butterfly doesn't look attractive (may be I am wrong), strangles/straddles though attractive they are most likely to lose in the long run. Don't know if I should stick with naked short/long in futures or even options and do intraday. Again I wasn't successful before, so why this time would be any different if I continue with day trading. Still wrestling whether I should do intraday or positional (though I wasn't keen on positional trading when I was trading in the past, I was profitable - may be the reason I am thinking about positional trading).
Okay. I am here to learn to trade better and more importantly to trade RIGHT this time. I am here to stay for atleast a year, if profitable (esp. achieved the target) longer than that. It's a long weekend. I will be here most part of the weekend, hoping to learn.