So now my account is down to about $250.00 from its high of $830.00 or roughly 70%. I am still convinced that I can trade my way to higher highs with options. Losing money has been more a function of poor decisions and lack or risk management planning on my path as opposed to having a poor system or strategy.
I still believe that with some patience (i.e. waiting for solid set ups) and bit of luck I can at least get my account back to about $400.00.
I will have one day trade tomorrow and with this I will be looking to day trade the weeklys in any one of the following that sets up to my liking:
GOOG: long 520/510 puts below $586.00.
GM: long 34/35 calls above $35.00.
GS: long 145 puts below yesterday's low.
AMZN: long 180 calls above $182.00.
VXX: long 40/41 calls above yesterday's high.
RIMM: consolidating on daily; long 65/67.5 calls on an upside break out or long 57.5/60 puts on break down.
LVS: long 47/48 puts below $47.50.
So thats my plan for tomorrow.
Good luck and good trading!