Blog - Road to $1million Trading Options

Obviously if i get a serious requests for an audit, i have no problem showing statements and confirmations of trades.

 

I don't have a problem with your journal, but simply showing a blotter offers zero value-add. It's akin to showing a bank statement or your 1040. Plus, no mention of unrealized losses. I could manufacture an account with huge gains as long as my unrealized positions were maintained indefinitely. I'm not suggesting you're doing so.

There's no methodology mentioned, and sparse mention of any actual trading. I guess I am asking, what's the point?

 

I guess to show myself that I can do it.. and allow others to watch it happen.

Also to possibly get notice by a big fish/fund out there... or network with other great traders.

A personal goal is to be on Trader 100. I know i'm far from that but I feel I'm just getting started and with only upside potential.

 

Interesting blog Bud, keep up the good work. I have traded stocks with success for years, but every time I try to trade options I get my ass handed to me, I think its because I try my long shots with options, ie positions I would not get into with a stock I say oh what the hell let me try it here with an option, thus the result ends up being probably similar to what it would be if I tried the same thing trading stocks. A quick question though, do you look at the volatility rating on the option and take that into account as to if you will or will not pick one up. Most of the people I know who are succesful trading options seem to trade volatility more so than price I guess, and and what I am wondering is if you are trading based upon price, volatility or a combonation of the two?

At any rate, I'm glad to see you are doing well and wish you well going forward. Don't worry about the people who are bitching and whining, no matter what you do, you can not make them happy anyway. Hope we all see you at a million.

Brandon

 

Thanks for the support Brandon. I trade a combination of the two.. but for the most part it's directionally based .. i look for stocks before they breakout.

As previously mentioned I also use a top down method. Invest in the right markets, in the right sectors, the right stocks, at the right TIME. Easier said then done

 

After a huge run up this year, I’m now looking to scalp the short side with puts.

Since we’re entering long weekend I expect some profit taking ahead of it. With rising gasoline/oil prices I expect it to hit the headlines and possible cause some fear. I’ll be looking to be hedged and net short this week while selling into strength.

Trading in the last few months has aged me quickly and I need a 2 week break. We still have plenty of time to make the $1mil so I rather wait patiently for great setups.

Less then 5 Months. $30k starting, +333,408, +1,111.36%

 

This still smells. I think it is much more likely this is completely falsified. There is no trade record, nothing that shows any validity. The attached graphics demonstrate nothing.

It is little better than posting each week, I am up 10%!! 20%!! 40%!!

I say the reality of this is < 5%.

 

I too find option trading highly profitable. Maybe I hit a patch of good luck for the last 9 months.


Options' commissions need to come down in price, though. Way down.

Hopefully, competition will bring commissions down.

 

true.. i spend way too much on commissions.

 

Any updates ?