Minor Swing Trades + New Swing Account

Minor Swing Trades:

It has become apparent that because a lot of my trading is counter trend, when I finally catch a reversal that I have conviction in, I'm not getting rewarded enough for it - as a result of only holding the position intraday. All this being said, I don't plan to trade the style of my trading.

Here's the plan:
- On a small proportion of trades, say 1/3 or less, and likely only on trades that have locked in profit already; and only on trades that are behaving as expected (i.e. don't swing a feeler for fomo reasons).
- Hold 1/5th to 2/5th depending on the volatility of the stock, locked in profit, conviction, how profit wants to be managed (i.e. expect 3 day move, hold 2/5s and take 1/5 off on day 2).
- On the bigger stocks if possible, use the unrealised profits to roll into an option instead of the underlying. This keeps it separate if want to trade it the next day, reduces the gap risk, and improves the ability to hold until target and withstand drawdowns.

I am also hoping that this will help me to focus on stocks where I have the ability to "catch the meat of the move" rather than scalp.

When reporting for the day, I will report the PnL from the first day of trading as an intraday trade; because the goal will always be to make money on an intraday basis in the first place.


Potential New Swing Account:

I can borrow some money to open a new account that has the borrows I want to get really aggressive on some swing trades. It's US$30k to open the account, and I would initially trade small to cover the risk. This would ensure that I captured things like BRKO.

Ultimately I have always planned to open this account (for the borrows) using day-trading profits, but I am not at that stage yet. However, there are remarkable benefits to opening the account sooner rather than later.

But I am not comfortable borrowing the money while I am still struggling with tilt and stubbornness - hence why I am setting requirements to borrow the money and open the account.

First it's important to realise that tilt and stubbornness are going to impact a swing account less in the first place. Second, there is some risk to not having this account. Opportunities like BRKO are one-off opportunities that can make your year. To miss it is a real shame.

So I think as a guide for borrowing the money reasonable requirements are:
(1) A month without exceeding max drawdown.
(2) A month without a stubborn trade - that is, a trade that have failed to hit stop-loss on.