Much as the General Theory of Relativity sought to explain everything in the universe, my project this weekend is to do the final work in combining my covered call, income and directional trading into a Grand Unified Trading Plan that covers everything I do.
It's like Einstein, but without the genius.
I've found in trading that when I consider my covered calls and income plays to be separate from my directional speculations, I miss opportunities to profit through side bets on my more static positions. And also, I have a very human tendency to pay more attention to the flashier, high-velocity directional plays than to the boring, old income and covered call positions.
My goal is to remedy those failings by creating a unified theory to govern my trading.