Turned $3,000 into $12,000 trading Options since Thursday AMA

[AlphaGainzNinja]

yea, i don't know anything about this, i trade the contracts premium. think we're on different pages brah.

most brokers make you apply before you can trade options to make sure you have experience + money, but optionshouse doesn't give a fuk and lets you do what I am doing.

edit: updated OP with an actual youtube video. What he explains is what I do.



options gains are definitely a real thing

look at the option chain picture i posted up, if you bought a spy call yesterday end of day, it would be up around 200% today.



Yes I have my bank linked through to the broker through ACH, so just gotta put in a request and I should get my money in my bank in like 3-4 days

Edit: can that request be refused? Or can you start making plans for that money?

[Slamt]

Das it mane. But is it really that simple. Sure the site says you've got 12 k, but can you just take that out and put it in the bank? Or is there more stocks bullchit to deal with?

My broker does the normal common stock exchange too, so moving money in and out of the brokerage would be the same as if you were to have an account at etrade/tdameritrade/etc

Edit: can that request be refused? Or can you start making plans for that money?

see above. just like any brokerage

they can't hold your money hostage lol

[gouscfootball]

These kinds of threads are hilarious. So, you got lucky and timed the market just right one time. Now a bunch of people that don't know wtf they are doing will open an account and be like hurr durr I'm going to be rich. Then they lose it all because options buyers lose ~80% of the time (80% expire worthless - yes, you can sell before expiration but good luck). Don't believe me?

http://www.fool.com/FoolFAQ/foolfaq0055.htm

Guarantee none of you are smarter than Wall Street algorithms that can out trade and out think you before you can blink.

[Slamt]

These kinds of threads are hilarious. So, you got lucky and timed the market just right one time. Now a bunch of people that don't know wtf they are doing will open an account and be like hurr durr I'm going to be rich. Then they lose it all because options buyers lose ~80% of the time (80% expire worthless - yes, you can sell before expiration but good luck). Don't believe me?

http://www.fool.com/FoolFAQ/foolfaq0055.htm

Guarantee none of you are smarter than Wall Street algorithms that can out trade and out think you before you can blink.

what they do is up to them, i've already warned users about being wrong on the timing/direction and how it can be costly

and its not like i claim to be able to do this over and over or something

what they do with the information is up to them, i am just here to answer questions

edit: and I didn't time the market right one time, i did it multiple times and compounded the money, and played it both directions

Also lol at the haters... any time you post a thread about trading success expect tons of haters to flock and say you're gonna lose it all eventually.

Even though most of them have zero experience with technical analysis, risk management, and have no idea how the stock market operates.

Stay green brah, come to the dark side and trade some small caps

sounds about right

[cnatboy]

These kinds of threads are hilarious. So, you got lucky and timed the market just right one time. Now a bunch of people that don't know wtf they are doing will open an account and be like hurr durr I'm going to be rich. Then they lose it all because options buyers lose ~80% of the time (80% expire worthless - yes, you can sell before expiration but good luck). Don't believe me?

http://www.fool.com/FoolFAQ/foolfaq0055.htm

Guarantee none of you are smarter than Wall Street algorithms that can out trade and out think you before you can blink.

You don't need to be smarter than Wall Street algorithms to consistently win in the stock market. You just need to be better at trading than 90% of the other people that are doing it.

Most people lose money, the algos and market makers take the majority of the money, and the best and most experienced day traders take the chunk that's left over. It's not easy, it takes a lot of experience, practice, patience, and discipline.

To jump in a thread and blindly call someone lucky for timing the market just one time just shows your ignorance though. Slamt has been trading and working on his TA a lonnng time now so it's pretty hurr durr of you to come rolling in on your high horse acting like he randomly bought a dip and got lucky once when you have 0 clue about his trading history/profits.

[CanadianMMA]

great job OP!
I would like to know your backstory why & how you got into trading? Do u go to Uni?

[Slamt]

great job OP!
I would like to know your backstory why & how you got into trading? Do u go to Uni?

Was always interested in stocks/finance/etc, first got into trading when I saw a misc thread about some dude giving tips. Think the thread told people to go buy MM, and that's when I put in like my first 1k or so. I bought it at 7.00$ or something, and its under 3.00$ now last time I check, sometimes I check that for curiosity because that was my first trade ever. At first I was just going to hopefully chalk up some small gains overtime. But then I got aggressive and wanted to make a big amount in a short amount.

Saw a misc thread about pennies stock, started getting more into Technical Analysis in general. Lost a lot of money playing penny stocks at first because I kept riding them out and listening to random stock tips. Decided that it wasn't worth it anymore(missed out weed mania when you could buy anything and make money).

I used to belong to a part of a chat group, they had small cap nasdaq traders, but they also had an options room. There was videos on that site about the basics of options(video I posted in OP). Saw the possible gains and instantly got hooked. Decided this is way better than Penny Stocks for sure. Still want to get back into being a successful small market cap stock trader, but doing options for now.

edit: I went to school for two years and dropped out, decided that even if I finish my education I know I wouldn't like the job that I was going to get, wanted to be my own boss and tried to make it.

[Lamborg]

How much did you risk per trade initially?

Can i safely get into options trading with 3k, without risking half my account equity on a single bet?

[everglide123]

Guys don't even bother getting into trading, all the quant algo systems will destroy you. There is no easy money.

[Slamt]

How much did you risk per trade initially?

Can i safely get into options trading with 3k, without risking half my account equity on a single bet?

Options compound really quick, you can start with a little amount. In the 2nd account that I have in the OP, I started with 950, lost 1st bet down to 750 at the end of the Thursday. By friday I had most of my account positioned in TSLA puts, there was a massive move on Monday and I made like 500% off of the first win, so I tried to compound all the gains and kept rolling the profits by taking more trades. This week I had around a 95% win rate which is pretty abnormal so compounding on compounding. I took the account back to 5k+ now. Risk what you feel is comfortable for you, each of my winnings were massive %wise due to the velocity of everything this week, but you can risk less than half your 3k account for sure and make steady 10-20% wins.

Options and Safe don't really go together. Can be tempted to avg down and blow up VERY quick.

[Polaris]

Recently got back into (just practice account) FOREX, and made about a 50% return in the last couple weeks with very little time spent. Ive definitely made my strategy significantly more conservative than before. If I can continue doing good like this for a while, it might be time to finally consider taking the leap into doing it with some real money.

[sdshakal]

in for later

[FiteMeIrlFgt]

I'm extremely interested in trading stocks and I want to learn. I've pulled up the links you've posted. Where do I start OP? I know little to nothing about this stuff but it's interested me for awhile.

[Slamt]

I'm extremely interested in trading stocks and I want to learn. I've pulled up the links you've posted. Where do I start OP? I know little to nothing about this stuff but it's interested me for awhile.

Probably just looking at charts of just any common stock and making a prediction on where the price will go next. If you're wrong, try to find out why, repeat this until you find something that works for you and gives you a high win % and a good profit margin. Nobody trades the same, same chart, same price action, but people see different things, which is why there's a market.

Babypips.com is a good place to start for learning how to read charts, and technical analysis ideas.

edit: for example this is one of the trade ideas that I posted in the investing thread. Then took my conviction and bought the play.

TSLA will test 220 next week you heard it first from me

What happened after: http://stockcharts.com/h-sc/ui?s=tsla

242 down to 220 is a huge options move in itself, but the i held the drop down all way to under 200 cuz it crashed hard on monday at the open. so made a ton there.

[AleaJactaEst]

Sick bankrollmanagement OP

[dyee4613]

Let me get this straight. You bought calls (meaning you have the right to buy these stocks at the strike price by the given date).

Each option call is at the very least 100 shares.

I'm looking at your AAPL Aug 28 Call with a 106 strike. Before you make a profit you need to buy these stocks (106 x 100 = $10,600) and then make money off the current difference (which is now at 112).

Explain this further because something isn't adding up here OP.... For most of these options you have to own at the very least 10 grand before you even see a profit.


If I'm missing something (which I am if you're telling the truth) let me know.

He is probably just doing a closing trade prior to expiration so he never has to exercise the option.

[FiteMeIrlFgt]

Probably just looking at charts of just any common stock and making a prediction on where the price will go next. If you're wrong, try to find out why, repeat this until you find something that works for you and gives you a high win % and a good profit margin. Nobody trades the same, same chart, same price action, but people see different things, which is why there's a market.

Babypips.com is a good place to start for learning how to read charts, and technical analysis ideas.

edit: for example this is one of the trade ideas that I posted in the investing thread. Then took my conviction and bought the play.



What happened after: http://stockcharts.com/h-sc/ui?s=tsla

242 down to 220 is a huge options move in itself, but the i held the drop down all way to under 200 cuz it crashed hard on monday at the open. so made a ton there.

Thanks OP, I appreciate it mane

[RocknRollMuscle]

Good Lord peoples.

"OMG. I went to a casion and make $3k. I did so much research. Haters gonna hatteeeeee...".

You're just GAMBLING. This is not SUSTAINABLE. Do you know the difference OP?

Okay let's say you disagree with me. You've read 1000 books and spend 500 hours and know ur chit. Okay, graet. Now everytime you do good INVEST IT BACK IN.

If it is sustainable, then within a year you should be flip-flopping numbers (sad reality, investing doesn't increase GDP it just plays with numbers unlike real production but anyways) and making MILLIONS.

Snowball effect. $10 profit this week. $50 next week. $100 next week. $50k week in a couple months .Add in some losses here and there BUT IN THE LONG RUN, assuming you say low chance you'll lose it all cuz you're so smart --- you'll have MILLIONS.

On the misc, these forex rock stars come and go (wehther they're real or photoshop pics who knows) but NO ONE has stayed the course and now living in mansions.

Cliffs: NO ONE.

If it was sustainable, do you not think wall st hedge funds would hire you to train them? Okay so you think you won't lose it all in the long run.

Great.

NOW PROVE IT.

[Slamt]

Good Lord peoples.

"OMG. I went to a casion and make $3k. I did so much research. Haters gonna hatteeeeee...".

You're just GAMBLING. This is not SUSTAINABLE. Do you know the difference OP?

Okay let's say you disagree with me. You've read 1000 books and spend 500 hours and know ur chit. Okay, graet. Now everytime you do good INVEST IT BACK IN.

If it is sustainable, then within a year you should be flip-flopping numbers (sad reality, investing doesn't increase GDP it just plays with numbers unlike real production but anyways) and making MILLIONS.

Snowball effect. $10 profit this week. $50 next week. $100 next week. $50k week in a couple months .Add in some losses here and there BUT IN THE LONG RUN, assuming you say low chance you'll lose it all cuz you're so smart --- you'll have MILLIONS.

On the misc, these forex rock stars come and go (wehther they're real or photoshop pics who knows) but NO ONE has stayed the course and now living in mansions.

Cliffs: NO ONE.

If it was sustainable, do you not think wall st hedge funds would hire you to train them? Okay so you think you won't lose it all in the long run.

Great.

NOW PROVE IT.

already said it multiple times. i've never claimed i can make this much over and over, this is a special week for me.

i have no idea what you're on about, but lol @ you comparing the stock market to a casino.....

just here to answer questions about options trading, and i know many people who are trying to get into penny stocks and chit. just trying to steer them clear of that because chances of getting a big win(getting lucky) is way higher trading options.

[RocknRollMuscle]

just here to answer questions about options trading, and i know many people who are trying to get into penny stocks and chit. just trying to steer them clear of that because chances of getting a big win(getting lucky) is way higher trading options.

and that's the problem.

Miscers see this and think "Hmm. If I spend all this time learning this, I too could make thousands of dollars and get out before I lose it all cuz I'm so SMART!".

If you keep at it and eventually lose most it, will you create a thread concluding how you lost most of it and now getting out? Sadly misc is full of forex successes and then you never hear from them when they got out or lost it. This sends out a skewed image of this process.

[Slamt]

and that's the problem.

Miscers see this and think "Hmm. If I spend all this time learning this, I too could make thousands of dollars and get out before I lose it all cuz I'm so SMART!".

If you keep at it and eventually lose most it, will you create a thread concluding how you lost most of it and now getting out? Sadly misc is full of forex successes and then you never hear from them when they got out or lost it. This sends out a skewed image of this process.

If they learn about options, they will learn about investing and blue chip stocks price action in general. Probably not the worst thing in the world that can happen, even if you lose a few bucks. If I lose it all, it won't be the end of the world, my original principle was $3,000, an amount I can afford to lose, I am ok with that. I already said options trading is HARD as fuk, MOST people do LOSE. But SOME are able to be consistent and win. I am not going to claim to be one of those that are consistent in the long run, but I that's what I'm trying to become.

I am just trying to make it.

[dyee4613]

Good Lord peoples.

"OMG. I went to a casion and make $3k. I did so much research. Haters gonna hatteeeeee...".

You're just GAMBLING. This is not SUSTAINABLE. Do you know the difference OP?

Okay let's say you disagree with me. You've read 1000 books and spend 500 hours and know ur chit. Okay, graet. Now everytime you do good INVEST IT BACK IN.

If it is sustainable, then within a year you should be flip-flopping numbers (sad reality, investing doesn't increase GDP it just plays with numbers unlike real production but anyways) and making MILLIONS.

Snowball effect. $10 profit this week. $50 next week. $100 next week. $50k week in a couple months .Add in some losses here and there BUT IN THE LONG RUN, assuming you say low chance you'll lose it all cuz you're so smart --- you'll have MILLIONS.

On the misc, these forex rock stars come and go (wehther they're real or photoshop pics who knows) but NO ONE has stayed the course and now living in mansions.

Cliffs: NO ONE.

If it was sustainable, do you not think wall st hedge funds would hire you to train them? Okay so you think you won't lose it all in the long run.

Great.

NOW PROVE IT.

Skill is skill. People who think gambling isn't sustainable because they see it as a game of chance and their luck will eventually turn on them just don't understand the math. People can get lucky in the short term and perform well above their expected value which can inflate their abilities which can lead to them crashing when they start performing at or below their expected value, but if you practice smart bank roll management and stay at a level within your abilities, if you're above average there is no question it can be sustainable.

Luck and performing above your abilities is only something that exists in the short term, over a long period of time (sufficient sample size) the numbers will normalize and behave exactly as we expect them to.

Edit: But you're right, most people on here (and in general) lack the skills and the discipline to succeed over a long period of time. Most people will lose everything due to lack of discipline/knowledge and there will be a bunch of people who brag about short-term success. (Note: Not saying OP is one of them)

[cnatboy]

I feel sorry for people who automatically think anything that an average person can't do is impossible.

Good luck making it with that mindset.

[Nicklol]

too bad im too stupid to understand how these stocks/money making tactic works.

its just gambling

[RocknRollMuscle]

options trading is HARD as fuk, MOST people do LOSE.

That's all miscers here need to read.

If I said I just did brain surgery for $10k, no one woudl think "hey I can do that too for good p/t income".

There's NO thing as high returns/low risk. So if you work your ass off and make good money in it, it's cuz of your "hard work". Then again, there's no guarantee you won't lose it all unless you keep posting updates year after year of how you're kicking ass

[KingSWRV]

You people are feeding your gambling addictions on the stock market like its a game of Texas Holdem.

Those better not be my tax dollars at play...

[Deez Nutz]

takes me back to the good old days of the 80's, when i was selling junk bonds to senior citizens.

[buildingbrah]

Not bad brad, did you focus mostly at beginning of day action or where you day trading and glued to the screen the whole week?

also loling at all the peasants that can't read indicators on a chart itt.

[Slamt]

Not bad brad, did you focus mostly at beginning of day action or where you day trading and glued to the screen the whole week?

also loling at all the peasants that can't read indicators on a chart itt.

Mostly just focused on building a swing position long since monday. But my eyes are glued to the screen all day, i enjoy it, and little movements has huge impacts so yea you kinda have to watch.

That's all miscers here need to read.

If I said I just did brain surgery for $10k, no one woudl think "hey I can do that too for good p/t income".

There's NO thing as high returns/low risk. So if you work your ass off and make good money in it, it's cuz of your "hard work". Then again, there's no guarantee you won't lose it all unless you keep posting updates year after year of how you're kicking ass

if it was easy everybody would be doing it lol

don't think anybody claimed low risk high reward in this thread either, if somebody tells you that then you should nope out of there real quick.

You people are feeding your gambling addictions on the stock market like its a game of Texas Holdem.

Those better not be my tax dollars at play...

wat

takes me back to the good old days of the 80's, when i was selling junk bonds to senior citizens.

jordan belfort dat u?

[Slamt]

alright real time thoughts on ES Futures today



edit: and short side biased should be stopped out 1979ish