Bryan Agosto | Landshark Coach
As most of you know I self manage my retirement account. It's something I believe in doing and I discussed this in depth in the webinar I gave last week about trading within your retirement.
I like to keep my risks controlled and rinse and repeat on my process. It keeps it simple and that's the one thing I learned when I first started as a student with Landshark two years ago now.
While the first two weeks of May were great (I made $7,000 - read the post here) the rest of the month was filled with low volatility. So what I did is stayed out of the market and waited. Now that is one thing that is important to touch on for investors: When to actually have positions on and when to reign it in.
My mindset is very simple: If I can make 2-3 trades a month then that's all I need, at least with this lower risk strategy I run in the retirement account.
Now this is important because many simply begin day trading in their retirement accounts using day trading strategies. The truth is those strategies will not work for most. Sure, they work for day traders and the 20-somethings that need the rush and want to be in front of the computer screens all day but for me, I have a career and a family so that's the last thing I want.
The Trades I made
The image on the right are my positions and the gains for Friday.
Now let's break this down to be clear. I placed some of these positions 1-3 days before, expecting the move on Friday to occur.
So these trades were not placed Friday then sold Friday. What we teach is to be forward-looking on the markets and this was me planning ahead.
If that sounds similar to planning ahead for your own retirement goals it is - the way we teach our students is similar.
The largest winners were on QQQ and Amazon calls. With some nice gains on VXX. Now obviously, there are some other items to why I chose the strikes I did but we discuss that in our courses.
So while this post is meant to inspire you in your own retirement investing I think it can also go to show that you can be passive when using the right investing strategy for your retirement.
Being that these positions were made June 1, I may only make two or three more trades for the month and my goals are met for the second quarter.
I hope this article helped.
Coach, Landshark Education