From $1000 to ? Trading SPX Weeklys in my Roth

Discussion in 'Journals' started by Trade Theory, Dec 31, 2019.

  1. Hi Guys! I've got a roth with $1001.75 in it. I plan to trade SPX weeklys purely speculatively with the objective of quick growth. Planning to trade butterflys condors and verticals and will be tracking my trades here. I'd say chance of blowing up my account maybe ~35%. I'll be placing my first trade this Friday. Wish me luck!

    Starting Balance: $1001.75
    Current Balance: $1001.75
    PnL: 0

    Trade 1: to be determined
     
    .sigma, Billicare and Evgeniy like this.
  2. dozu888

    dozu888

    nah.... go mow your neighbor's lawn and get that to the $6500 limit.... you sound like a young dude... don't waste your time... both my kids are doing the $6500 limit plus extra money in a non retirement account... starting young you can let the compound magic work for you.
     
    comagnum likes this.
  3. I cap my contributions each year in my Roth 401k and have other outside retirement accounts. This account is funded with separate monies earned from a passive source of income that generated $1K in 2019. It’s basically free money so I put these funds aside with the intent of over allocation and aggressive growth. High probability the account will be blown up as my starting allocation will be appx $150-$200 per trade.
     
  4. Damn, trading with only $1k? Sounds nuts, but good luck, I will be watching!
     
    Nobert likes this.
  5. Overnight

    Overnight

    Why do 15-20% of your account on a trade? Why not just do 1.5 to 2%? You last longer when ye be wrong.
     
  6. Haven't you ever opened a "fuck it" account before? I allocate responsibly in my other accounts, I promise.
     
    Alanslaug likes this.
  7. Overnight

    Overnight

    No, I opened a single account of "Live with it and do my best".

    Opening a "fuck it" account is like opening an account at Foxwoods or Encore Boston. In case you did not know, those are casinos in New England.
     
  8. destriero

    destriero

    Well then make it a tradable account that you can reload.
     
  9. Deez

    Deez

    Trading a retirement account with $1000 is just plain dumb. I suggest finding something better to do with your time.
     
  10. I am a bit of a gambling man and play poker at the casinos here in San Diego frequently. This has greater edge. I'm looking at the $1k as a small percent of my total net worth not as my whole account. Anyway not here for approval, I'm here to track and publicize my success and/or failure.
     
    #10     Jan 1, 2020
    Billicare and jl1575 like this.