From $1000 to ? Trading SPX Weeklys in my Roth

I trade the same strategy in my taxable account as well. I'm doing this in a roth so if the account explodes, I'm not taxed on the gains.

 

I *think* there is a slight difference between a "fuck it" account, and an account where you realize that "you can lose more than you invest", or whatever the wording is in the standard risk disclaimer for investing/trading.

Have fun storming the blackjack tables!

P.S. I will give you one nod...You cannot lose more than you put into the middle in poker. But you can in trading leveraged/margin instruments. So you have that going for you, at least.

 

Can’t become a trader without actually trading or practicing. My kids got a piano for $2k that they used to discover they don’t have musical talent. But some discover they do.
I wonder how everyone else tests their trading skills or discovers they have talent for trading. With $100k accounts?

 

You are www.daveramsey.com !

 

Nor do you get to write off the losses. Which are far more likely.

 

Trade 1:

tIP BOT +1 BUTTERFLY SPX 100 (Weeklys) 10 JAN 20 3265/3280/3295 CALL @2.00 CBOE

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


I'll only be updating balances and PnL when I close the position.

 

Good Luck to you!

 

Trade 1 closed:

tIP SOLD -1 BUTTERFLY SPX 100 (Weeklys) 10 JAN 20 3265/3280/3295 CALL @5.30 CBOE


+$330 Profit - $4.14 Commission

Starting Balance: $1001.75
Current Balance: $1327.61
PnL: +$325.86 = Account up 32.53%

 

Nice. So far so good.

 

it is only $1000...I dont think he can buy options for $0.25 max and put on any position as he described....