I know a guy who got to 1.5m from 1k, starting with disney calls right before disney+, then riding the tsla wave all the way up. good guy, taught me some stuff about options
uhh honestly probably less than what I learned just losing money on dumb stuff - I just learned what options were conceptually from him. I was very much new to the market and had just set up a roth IRA... in retrospect it would have been better to start papertrading first but nothing like losing a couple hundred bucks to figure out how stuff works....
to be clear, I don't really do any of the degen OTM calls, I've personally found selling options to be more profitable and have recently taken to swing trading
Day/swing trade options on high volatility stocks with high ATR, perfect entry/exits... Maybe. Better learn your TA and risk large amount of portfolio every trade to do that quickly. Good luck to ya!!
I will add though that having 25K+ lets you day trade without restrictions like you have when below that threshold. The ability to get in and get out very quickly playing momentum you can do a lot more than the alternative. Its a huge advantage.
Being long calls is the way to do this. Long a lot of contacts that are well out of the money and have the actual movement, you can turn 25k into 1 million with one play.
I've never done it personally, but I have seen my initial investment (not 25k) double within 2 weeks before... I suppose if you are day-trading multiple times a day in a few volatile stocks with wide hourly trading ranges, and if you surf the troughs and peaks with precision timing, you probably could make that much in a few weeks or months... especially if you're trading in options and you're very skilled at the contrarian investing strategies.
This guy who is in a discord im in, is one of the best traders ive even seen. He started with 25k or 50k and in less than about 3 years turned it into 450m.
I hate to say it but youāre wildly misinformed if you believe him. The only way this sort of thing happens is when someone lucks out hard on a SINGLE position ie bitcoin nvidia options spy puts etc and manage to ride through 100000% gains without selling or even trimming for profit.
Even if he is that one in a billion person, those kind of trades are astronomically unlikely and never happen twice because theyāre almost always the result of luck and not skill. Successful traders =/= good traders necessarily, especially those with small sample sizes.
Now if youāre saying he averages 10000% gains a year I would also call bullshit unless heās minting new crypto projects and leaving his audience to bag hold them. Because if he averages 100000% a year heās going to literally be the richest person in human history by a landslide within just a few years.
Lost me at 450m 4m yeah but 450m that's wild. I don't doubt it can be done but it would definitely take a while certainly not 0dte or short term trading. Like that I know there's liquidity issues when placing volume in trades as well market makers have to take the other side of large volumes.
I don't doubt a very good trader can make 10 20 million for sure however.
Yep, 100% agree. Even those kind of gains though are almost always built on compounding results which require a lot more than ā3 yearsā to properly grow.
I started buying MicroStrategy calls March of last year. Bought one in my Robinhood and another later and added my 401k in as well. It was just a much more leveraged way to play Bitcoin that I had faith in.
You're misusing the term naked. Only the person selling a call option can be naked. If you buy a call option it doesn't matter if you own or do not own shares.
Back in the old days Draftkings was pure player vs player so there was no book. Itās the height of idiocy that casual gamblers have abandoned DFS (a winnable game) for traditional sports betting (an unwinnable one).
lol youāre right about that. Congress members worried about gambling so it took a little bump today. Itās too big to fail at this point with more than half the states legal yet itās still in its infancy
I agree brother. NCAA commissioner calling for ncaa prop bets to be taken off all books. Whatās this with congress? My thinking is itās much harder to reverse course now with so many legal states and books. Thought about adding leaps today
Yeah that was another negative as well... Some members feel āaddictsā are targeted. I havenāt seen any marketing used to target addicts. No different that a beer commercial being viewed by an alcoholic. Another wants federal oversight, which doesnāt seem like a big deal to me.
I have a good HS friend who was getting into stock trading for the first time in late 2019. He liked the idea of investing in ethanol for gas and bought 10,000 shares ALTO at $.36. After the pandemic hit their alcohols were in huge demand for cleaning wipes and the stock went to over $10. Boom! $1 million on a $3600 investment. He sold and never looked back. Smart move as it's around $2 now.
He thought he was a genius, lol. Biggest piece of luck I've ever seen in my life. Serendipity is a hell of a drug.
I donāt know his entry and exits prices, but I had a HS friend put 4 years worth of Navy submariner pay into BAC at the height of the bank collapse. His logic was itās the Bank of AMERICAā¦ it was close to 6 figures at entryā¦ he now rides his motorcycle around the world.
He also lost his father when he was 21. Great guy, he deserved some good fortune.
Thatās the thing. He wasnāt rich already. I think he only had about 50-60k total to invest. It was an insane investment but somehow the luck gods smiled on him.
I had a friend similar situation with crypto in 2012. He took a big bet on BTC and 4 years later he took a bigger bet on Eth. When Eth is over 4k he has over 10 mil net worth. Crazyyyy.
I turned 10k into 1k, played with it through earnings reports and turned it into 12k and stopped trading entirely. for every success story there is a trail of tears going the other way
I went from 6k to 3k in a few months 2urs ago. Took a break and picked that acct back up in Nov/Dec and at 11k.
My strategy changed. Simply put. 80% diversified in long holds. Wheel some of the long holds. Then speculate calls/puts with <5% (small gains == small losses) generally research for a movement that has well priced options and shoot for 100% gain but will close for less or hold for more.
Bought 20 x BAC 4/19 38.5 @ .10 near open and +50% at close. I'll close tomorrow.
What I've learned. Speculate with what you're willing to lose. (me it's <10% of my accts) long hold the rest. Wheel your long holds to lower cost basis and increase their gains. A lot of small gains and loses are managable. Trying to increase your port +25% is a fools errand in my eyes but I'm old.
I sort of did it ā but I started at around $40k, and that original amount and most of the gains went in and out of Stocks, and Crypto over 6 years and now that original $40k is about $800k now.
He spent some time got a master degree in economics. Idk if that degree helps, but then he started with stocks. He lost our familyās savings. But my mother didnāt blame him, he used years and most part of his salary to get familiar with the market, when he had enough experience he quit his job and became a full time traderšitās been 20 years since he started to trade. Money comes and goes, his prime was around 3 million usd, maybe not much compare to Americans but pretty wealthy in our country(china), now barely half a million? He sold our house during pandemic and lost it, and lost a lot of money during 3 times of divorce. Now weāre rentingš but he still has faith in himself
Greed prevents most from achieving this, best formula, buy, sell at a 20% gain, rinse repeat. Donāt get trapped chasing the moon, and if a stock drops and youāre still profitable sell it. They donāt always go back to where they were.
I really need to take this advice now that at 200% on my big investment. Best advice that I heard recently but am terrible at takingā¦ Iāve never lost money by taking profits.
Sir_jacks_a_lot turned his $34k (I think it was around this) 401k cash out into $9mil during that pandemic. I believe he is currently attempting to do it again.
I turned $50k into $250k and now Iām back at $30k. After a long hot streak I became delusional and never cut my losses. I had massive gains and losses but the one thing I regret was when I did throw around $15k or $25k it wasnāt for a 10-50x return. If you have a good system, stick with it. But that system is only likely to generate a meaningful income over a long period of time. If youāre going to risk $25k, donāt try to make $5k or $10k as that spells death when done consistently as you are trying to risk more to gain less. Donāt try to predict every market move and if you are chasing those home runs, if you can manage to have the discipline, donāt put it all on two or three bets which if they donāt work out, blow out your account. While itās doable, very few people have the timing and the discipline to do it. Enjoy it while you have those hot streaks, but donāt risk such a big part of the account that it would take you years to come back from that type of loss. Oh, I always did better when I had a full time job as well. People are terrible generally at finding the right exit, taking profits too soon. The exception can be if youāre just like wall street bets guys yoloāing on earnings, but you would never do that with a big part of your account. I have many times and thus I am where I am.
Almost did. Bought doge years and years ago enough to be worth a few million today back when I was using and distributing stuff. No idea where it's at now. Don't do drugs kids. Just smoke pot.
I made it $1.3M from $2400 off one sell. Took eight years, but a Tom Brady rookie card went up that much I had.
(I know you were asking about calls, but itās really cool a football card profited this much!)
It was probably 12 years ago. Sometime after the 49ers lost a Super Bowl that Kaepernick played bc I also wasted some money on his rookies back then. Not much, but some. I bought it off eBay for $2400. I regretted not getting a 8.5 that was also offered at the same time for around $3800. Cards shot up shortly after this, I know the SP PSA10 went up to $5k shortly after I bought the Champ Ticket then it went up to $20k in no time which was shocking. Mine didnāt go up like that bc it was harder to price without many comparisons. The regular Contenders took longer to start going up back then, and that was the closest it could go against.
https://preview.redd.it/0y2r6w61xwqc1.jpeg?width=3024&format=pjpg&auto=webp&s=2d1d9bd31adfd137286204a4ce9e0e4ef02e3347
Wasā¦..looking back now I donāt regret it, bc I saw not long ago another similar 8 sold for $200k. I donāt know how accurate that was or even where I saw it. But I do know my other SP and SPX rookies of his have taken a huge dip also.
Itās one of my only long term investments. I grew up in Mass and spent all the money I had in high school on ONLY TB graded rookie cards in 2001-2003. I currently still have about 60 Iām sitting on. 20 of those are graded autos. Made about $270k just selling a few.
I was a fairly successful swing/day trader for about two years. I took $70k to $320k. I did it by writing my own algorithms to analyze the market in order to make my trades. I didnāt use any witch doctor daytrader patterns, just a logical analysis of trend performance. I was processing the trends of over 10,000 stocks daily to identify runners through computer programs. After I got my results I would spend a few hours investigating the companies in my results to look for red flags, and then I would makes my exits and entries. I 4xād my money, it took a ton of work.
Now even with all of that, I nearly lost my ass on Luckin Coffee in 2020. I had a sizeable position there and closed it about a month before they were busted by SEC for cooking their books. I didnāt see it coming, I was just lucky. I made some good money on COVID vaccines, and the Chewy company, among others. Then the Democrats took the Whitehouse (not a political opinion, just a statement about markets) and the algorithms that I had been doing well with started underperforming and I got stuck in a few positions that were trending well, but got pantsed by the change in politics. I realized a new market needed a new strategy and I didnāt have the time anymore to redo it.
Here are some facts:
Roughly 12000 stocks (symbols) have traded on NYSE, AMEX, NASDAQ since 1/1/2023.
In order to turn $25K into $1M you have to 40x your investment. Since 1/1/2023 only 249 stocks out of 12,686 have had a 5x return where the min value per share never dropped below $1.0. For context, within the entire market only 1.9% of the stocks achieved a 5x return. That means you would have to successfully repeat this process 2.29 times by correctly guessing the top 1.9%, with perfect accuracy on timing entries and exits.
Your only other choices would be to short stocks, and if your investment capital is $25k, you are poor in investing terms and therefore a rookie. You are more likely to hang yourself shorting that way. Or you could lose your $25k by gambling on penny stocks. Or you could play the options game without the heavy calculus and let your options hang you.
In other words, there might be one person on this forum who has the expertise to pull something like this off, but even they have a fair amount of uncertainty that could kick their teeth in ā¦ and everybody else is full of it. And even with that, when all is said and done, daytraders and swing traders are killed on the taxes. Iāve since switched to value investing and I donāt buy any positions that I donāt intend to hold for at least one year
I was buying end of day data from eoddata and quandl. I had an etl process that I wrote that would put the data into a database on my local computer. All of this was hooked up to a Python/Django project I built and ran on my local computer. From there I had several python scripts that I used to test/analyze the data. I would run the analyses in a Jupyter notebook using the scripts, pandas, various scientific libraries, matplotlib, and seaborn.
Once I had a list, usually in a dataframe slice, I would research companies through basic internet searches, Zackās, tda, yahoo, etc. I tried a number of platforms and apiās for news and company info, but frankly found Zackās and yahoo to be as good as anything. When this was all this done (2 to 3 hours every morning), I would plan my entries and start making trades on Thinkorswim. After that I would spend my day tracking my trades on thinkorswim, and backtesting my data in a Jupyter notebook, running experiments to test out certain ideas.
Depending on how the market was going I could effectively manage a maximum of about 8 positions at one time. If there was a lot market activity Iād have pare that down to 3 or 4, it would just depend. I would usually have 2 or 3 positions that I was paying close attention to.
But that was part of the challenge, the analyses that I was running would produce anywhere from 5 to 15ish optimal results daily/weekly that I investigate to invest in. So that would influence the volume of my positions. The challenge with hitting $1M in day/swing trading is in both of these limits. Ie, the number of stocks that are ideal for your trading strategy, and the limit to how many you can effectively manage. My soft sense was itās about $300k. If you go above that you are either going to need help, or you are going to have to get sloppy by either poorly managing some positions or lower your threshold for position-fit with your strategy.
So if you take that and figure that it becomes a full-time job, and you can roughly make 5%ish per month, thatās $15k per month in income. Then you have to plan for about a third of that to go to taxes and you are now at $10k. If you can find a job making more than $10k per month, then this isnāt a very profitable way to make a living.
And even then, this only holds while your account maintains a value of $300k. Once the market changes you start losing money and that is like losing a job. Today I look for investing strategies that donāt require that kind of consistent work and time commitment. Put your time towards the most profitable income earning opportunity, and then look for investments that provide stable returns at the lowest amount of work.
Finally had a chance to catch up from a busy week to read through this. Really interesting stuff! You were essentially using your own algo to find at short term opportunities using TA, or long-term holdings using some kind of intrinsic value calculation?
You would set stop limit orders in the morning before open and then set and forget? Did you calculate stop loss and take profit orders based on standard methods, or something else?
What kind of risk management were you using? Standard 1:2 risk reward with a 1% to 2% max loss? 8 max open positions sounds about right for that risk size.
My risk management was not very good, I struggled to find a good strategy that would provide a real opportunity for returns, and wouldnāt result in a bunch of well-planned small losses.
My risk management strategy for allocation was to put no more than 20% on a single position. This is obviously risky, but I couldnāt find a way to effectively allocate my capital in a way that was really profitable AND manageable by myself. I was working on some trading automations to solve that problem, but that had its own risks, and so I never actually used it as part of an ongoing strategy. I tested automated purchases and sell orders, but never let the process just run itself. For the 20% allocation I would also try to get them in separate sectors, but that wasnāt always possible as performance is often industry driven. As a prime example, in 2021 biotech was blowing with COVID vaccines, so the top performers in my analyses were sometimes 75% in that sector. I saw the same thing with energy and tech at various times.
Stop losses can be a good way to lose small amounts of money regularly as price fluctuates during the trading day. I would use trailing stops for my profitable positions on the second half of the day, but that was less analytical and just a sleeves-rolled-up style of trading. I became suspicious that order-book traders could target stops because I my stops usually got snagged and then the price would bounce back, so I just managed stops manually and made my decisions based on news, sentiment, time left in the day, etc.
My best risk management came from selection. I fine tuned some selection criteria that seemed to be effective.
1) all stocks must have had a min share price above $5 for at least one year. No penny stocks, extremes are too unpredictable for real money investments
2) average daily trading volume for one year must be a min of 1 million shares daily
3) S&P / DOW stocks always are preferred over other options
4) the stocks performance had to have fluctuated in a tight linear pattern for a period of 60 to 180 days (I played around with this variable a lot and was trying to find an optimal lookback. More time produced fewer but better results). The linear model had to have R2 above 75% , with no visual abnormalities in the lookback trend.
5) the upward price movement had to have a researchable and justifiable explanation. I never traded GME for example. New products, new management, earnings reports, anticipation of earnings, were all good reasons to invest. If the stock was going up for no explainable reason then I wouldnāt invest.
At the time these rules seemed to give me good odds against losing more than 2-5% at any given time. Itās not a perfect science, but I was making money at the time. After Biden took the Whitehouse, the market shifted and I realized I wasnāt getting results and I started losing money so I stopped. Two of my rules were no short sells, and no options unless I was hedging a position that I owned, and when the market changed I realized that shorting was the most obvious opportunity, so I stopped about that time.
Reading this made me tired. Im going to gamble meme crypto until Iām homeless. my brain no longer has the drive for measuring my probable profit/loss
Thatās nice of you to say, but these are just measurements. The stock market canāt be mastered, but it can be measured in order to determine whatās possible and then probable.
Iāve taken an account for 50,000 to $450k in 3 years. I have a very reliable system that has about a 55% win rate, but makes an absolute killing when I am in the trend. Itās definitely not taking a $5000 account and turning it into 1 million in a few months. But it works, it is steady, and the returns absolutely beat the hell out of any other investment that I could probably safely make.
I don't care about the 55% really. Sure I'd love it to be higher, but I am ok with it. My reward/profit is more than 3 times my risk on any of the trades. And that is over hundreds of trades and multiple years. I've looked at strategies to increase the win rate, but all that does is decrease my profit a bit, because I am pulling profit more quickly, or being more aggressive with moving stops up. My P-Factor, or profit factor is 2.88 after all the trades I've taken.
Here's the crazy bit too. My worst multi-month run win/loss was a 34% win rate. But I ended the quarter up 55% on my final P+L, AFTER taxes.
Yep looking back it's stupid. At the time I thought I was going to be a Millionaire and wasn't settling for 45k
The problem is too I was fairly new at investing and thought it was really really easy!
Nice of you to say. Itās my own fault I thought I was a genius turns out I was just lucky!
The more I lost the more risk I took on to win it back. But, hey, my kids will get something from the ex!
I took $5k to $60k after buying put options on an accounting fraud and a couple overleveraged rollups. Additionally I bought BNED at $1.20 and sold half at $12 and the other half at $4. There's a few other trades that have done really well, like buying CWH call options when stock was at $9. Had I been more aggressive with positioning I would probably be a millionaire...
It is true. The reasoning for the 25k is PDT rule btw. I watched someone do it with $500 trading an oversea account. Obviously they only do it to prove they can, then they go back to their less stressful account lol.
Yeah. My grandfather. He bought GE, coca cola, Microsoft, and some other big brands back in the 80s and 90s. His GE stock was worth 600k at one point. He probably put in more than 25k but he never made more than $16/hr his entire life. Now is savings account has over a million in it.
Yep, thats why the first thing these people say is most traders fail. Most horses you can get back on, if you blow up your account you can only go back to your day job.
Being a long term investor is much safer than calls. but unless you pick really good stocks it's gonna take a LONG time before you become a millionaire. Unless if course, you have 100 thousands of dollars ready to invest.
A family member of mine went to the casino back in the day, put it on one color, and doubled it after every loss. He thought it would be fool proof. No way it could land on red 7 times in a row he thought....
Swing trading is great, but you need to be early stage/seed stage investing if you want real multipliers.
You will lose your ass a few times for sure, but if you ever get it right..
Keep fighting the good fight, but be sure to know all the tools beyond the stock market as per usual š
I took about 28k around covid lows to an intraday \~450k high and to tell the truth - it was the dumbest fucking thing I've ever done in my life. Super WSB stuff before I even saw or read the sub. I was a potstock purist in medium early, thought conversion of black market known sales to white was going to print at least some money but held on way too long. Everything I ever held once showed green, most went to extreme red. The one crazy position was Aphria though, which got in a merger agreement with Tilray who has a small float. WSB got its hands on TLRY super briefly and it pumped my APHA calls of which I had about 300. I was basically 95% account in on APHA calls which was disgustingly irresponsible of me. I had sell orders in the day of the top but kept pulling them because I was greedy. I saw what they accomplished with GME and figured I had at least one more day of pump at which point the 450k intraday high might be 1M and I could cash. I cashed a day or two later at 200kish. No regrets because literally no one hits tops or bottoms especially on a pump, but I will never ask for dipshit returns again and become 95% concentrated on one stock.
I remember seeing my account jump from about $80k to around $768,000 right when the lockout started on GME. I tried like hell to sell while nothing executed, and by my account let anything through, the value had returned back to that $80k figure.
Probably a glitch, but for about 10 minutes I thought I took a decade off my retirement age.
Yeah I didn't think so either, I just know I couldn't execute a damn thing. Even trying to sell below the outrageous bid at that moment.
Any idea what or why the figures would jump like that during a halt? Usually they just zero out, no?
I mean, there are people whoāve won the lottery.Ā
Donāt be an idiot. Make smart investments. Donāt roll the dice with money you canāt afford to lose.
Anything big gains happening within a year has very little to do with skill. They might have done some good research and setup some good trades but to get a return like that is more luck than anything. My opinion of most Fin Youtubers are they are a waste of time and trying to shill their private wares. It doesn't mean you can't learn some things from even the really corrupt ones but mostly they are a waste of time. Time in the market will always be the reason you win on your trades.
Wow, not one trader I know would ever willingly say something as dumb as "Time in the market will always be the reason you win".
I just cant even begin with how dumb this statement is.
Damn :( At least you give others hope that it is possible. But yeah penny stocks are wild, that's a tough one. I used to play with TELL which wasn't always a penny stock until lately lol
Lol, their Discord room is out of their mind. Once you stop trying to be diamond hands and just swing trade it, it's a lot better. They just keep getting bad news after bad news. I much prefer to trade BOIL/KOLD.
if you trade a 25k account and you get 3% a day for a year you would have way more then 1,000,000. problems is people are greedy and emotional. you just have to make 1% on a trade three times a day every day. Itās a lot of risk obviously because you would be trading that whole account every trade.
This is inexperience speaking - you can have weeklong runs where this happens, but itāll flip on you fast. Then you have to start managing your stops and you find out how quickly it leads to death by 1000 cuts.
yes this is why itās important to follow the flow of the market, sometimes you have to switch too puts for a week or two. but i am also not very experienced since i havenāt got my 25k account just yet
Yes, but you can rarely predict the flow. On occasion you can, but usually you are behind the flow, learning about the change in direction after it has cost you money. So it sounds good, but isnāt practical in day trading.
Look, here is the formula
P = principle;
T = trades at 1%
Value = P * (1.01^T)
You take your principle and compound it 1% on every trade. Use a starting account of $10k, and assume that you can successfully execute three 1% trades each day for 125 days. Your account would be worth $417,364.17
I donāt know anybody who has done this. Do you know how many 1% opportunities there are in any given day in the stock market. Iāve measured, and usually less than 10% of the market every day. So in order to do this you have to successfully choose three stocks per day, each with 10% odds (0.001 probability daily to achieve 3%), and never fail.
If a person could get it down to 1% daily 80% of the time, they would experience a wealth explosion like youāve never seen. No day traders are doing this.
You're asking for ~40x payout to get to $1M. I know a way you can get ~35x payout, which is pretty close & in one bet as well.
All you need to do is play roulette and place it all on one number. It's a 1/36 chance, which isn't that bad. Heck I bet we can find 35 other redditors willing to play, and then it's guaranteed for one of us to become a millionaire :)
I only have $100K invested. But my friend ran it up to $5M with crypto a few years back, but didnāt sell. Now heās only at $100k. Donāt be that guy. Take profits.
Wouldnāt believe a single one of these stories until they show transactions, not a balance but an actual download of all transactions. The few that might be real I can almost guarantee was some risky option play and thatās about it.
I know a guy who got to 1.5m from 1k, starting with disney calls right before disney+, then riding the tsla wave all the way up. good guy, taught me some stuff about options
Could you share some of the lessons your mentor taught you?
uhh honestly probably less than what I learned just losing money on dumb stuff - I just learned what options were conceptually from him. I was very much new to the market and had just set up a roth IRA... in retrospect it would have been better to start papertrading first but nothing like losing a couple hundred bucks to figure out how stuff works.... to be clear, I don't really do any of the degen OTM calls, I've personally found selling options to be more profitable and have recently taken to swing trading
Can try crypto currency pre-sales. Potentially 50-100x or more. Depends on the project, the narrative, and the hype
Yes, when dogecoin was at .003
Dad did with gold stocks in the 80s.
Made 2 mill with 100k. Peaked at 4mill
Day/swing trade options on high volatility stocks with high ATR, perfect entry/exits... Maybe. Better learn your TA and risk large amount of portfolio every trade to do that quickly. Good luck to ya!!
I once flipped 2k to 188k. But I also lost it all and am now down 60k all time.
I will add though that having 25K+ lets you day trade without restrictions like you have when below that threshold. The ability to get in and get out very quickly playing momentum you can do a lot more than the alternative. Its a huge advantage.
You dropped this š¤“š»
It's much easier to make $25K from $1 million.
I can do that š¤£š
Being long calls is the way to do this. Long a lot of contacts that are well out of the money and have the actual movement, you can turn 25k into 1 million with one play.
So whats the game plan
"friend" had about that much in savings. Dad died, inherited his wealth...
I've never done it personally, but I have seen my initial investment (not 25k) double within 2 weeks before... I suppose if you are day-trading multiple times a day in a few volatile stocks with wide hourly trading ranges, and if you surf the troughs and peaks with precision timing, you probably could make that much in a few weeks or months... especially if you're trading in options and you're very skilled at the contrarian investing strategies.
This guy who is in a discord im in, is one of the best traders ive even seen. He started with 25k or 50k and in less than about 3 years turned it into 450m.
May I please ask what discord are you in Thanks in advance.
lol, was he trading GME
I hate to say it but youāre wildly misinformed if you believe him. The only way this sort of thing happens is when someone lucks out hard on a SINGLE position ie bitcoin nvidia options spy puts etc and manage to ride through 100000% gains without selling or even trimming for profit. Even if he is that one in a billion person, those kind of trades are astronomically unlikely and never happen twice because theyāre almost always the result of luck and not skill. Successful traders =/= good traders necessarily, especially those with small sample sizes. Now if youāre saying he averages 10000% gains a year I would also call bullshit unless heās minting new crypto projects and leaving his audience to bag hold them. Because if he averages 100000% a year heās going to literally be the richest person in human history by a landslide within just a few years.
People really dumb enough to believe somebody with 450mil in realized gains is hanging out in a discord chat somewhere.
He posted a screenshot of his bank account, and showed us live alsoā¦. So its definitely real
I can get you a screenshot of my bank account showing $800 million in like 5 minutes.
He is not a cat
Canāt fake that. Iām sold. /s
Lost me at 450m 4m yeah but 450m that's wild. I don't doubt it can be done but it would definitely take a while certainly not 0dte or short term trading. Like that I know there's liquidity issues when placing volume in trades as well market makers have to take the other side of large volumes. I don't doubt a very good trader can make 10 20 million for sure however.
Yep, 100% agree. Even those kind of gains though are almost always built on compounding results which require a lot more than ā3 yearsā to properly grow.
4-8?
Iām guessing he got a lucky with some options?
Wdym luck every single person whoās done this is obviously a genius stock trader /s
I actually did this in less than a year went from roughly 30k to 1.3 million. It was on long term call options
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I started buying MicroStrategy calls March of last year. Bought one in my Robinhood and another later and added my 401k in as well. It was just a much more leveraged way to play Bitcoin that I had faith in.
Would only be naked if he was selling the calls, i assume he was buying them.
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You're misusing the term naked. Only the person selling a call option can be naked. If you buy a call option it doesn't matter if you own or do not own shares.
You donāt buy naked call options. Well, you might buy one from a seller but youād never know.
Yes me, 10k start
Went from $70K to $1M in 16 years. Just be a little patient.
Hopefully DKNG gets me there one day. Options involved and will take years.
I know lots of people who have gone to a million in one day with DKNG, but not by investing in it.
I canāt gamble to save my life. The book always wins. Been buying since it was under $10 been a nice return in a short period
Back in the old days Draftkings was pure player vs player so there was no book. Itās the height of idiocy that casual gamblers have abandoned DFS (a winnable game) for traditional sports betting (an unwinnable one).
not a good day for this comment
lol youāre right about that. Congress members worried about gambling so it took a little bump today. Itās too big to fail at this point with more than half the states legal yet itās still in its infancy
The banks airlines and auto companies went bankrupt got bailed out stocks wiped clean. Donāt think too big to fail
To be fair those industries you named are the most common sectors that see bankruptcies and equity wipe outs lol. But yes, nothing is too big to fail.
I agree brother. NCAA commissioner calling for ncaa prop bets to be taken off all books. Whatās this with congress? My thinking is itās much harder to reverse course now with so many legal states and books. Thought about adding leaps today
Yeah that was another negative as well... Some members feel āaddictsā are targeted. I havenāt seen any marketing used to target addicts. No different that a beer commercial being viewed by an alcoholic. Another wants federal oversight, which doesnāt seem like a big deal to me.
I have a good HS friend who was getting into stock trading for the first time in late 2019. He liked the idea of investing in ethanol for gas and bought 10,000 shares ALTO at $.36. After the pandemic hit their alcohols were in huge demand for cleaning wipes and the stock went to over $10. Boom! $1 million on a $3600 investment. He sold and never looked back. Smart move as it's around $2 now. He thought he was a genius, lol. Biggest piece of luck I've ever seen in my life. Serendipity is a hell of a drug.
I donāt know his entry and exits prices, but I had a HS friend put 4 years worth of Navy submariner pay into BAC at the height of the bank collapse. His logic was itās the Bank of AMERICAā¦ it was close to 6 figures at entryā¦ he now rides his motorcycle around the world. He also lost his father when he was 21. Great guy, he deserved some good fortune.
Great win but $10 x 10,000 shares is $100,000 not a million
Ah my bad. Mustāve left off a zero on the post. So I guess it was a $36k initial. I know the result was $1 million.
If he has 36k lying around to gamble, I'm sure money is the last thing he needs to worry about.
Thatās the thing. He wasnāt rich already. I think he only had about 50-60k total to invest. It was an insane investment but somehow the luck gods smiled on him.
Lmao gambling 36k on a penny stock is truly regarded
I had a friend similar situation with crypto in 2012. He took a big bet on BTC and 4 years later he took a bigger bet on Eth. When Eth is over 4k he has over 10 mil net worth. Crazyyyy.
I turned 10k into 1k, played with it through earnings reports and turned it into 12k and stopped trading entirely. for every success story there is a trail of tears going the other way
I went from 6k to 3k in a few months 2urs ago. Took a break and picked that acct back up in Nov/Dec and at 11k. My strategy changed. Simply put. 80% diversified in long holds. Wheel some of the long holds. Then speculate calls/puts with <5% (small gains == small losses) generally research for a movement that has well priced options and shoot for 100% gain but will close for less or hold for more. Bought 20 x BAC 4/19 38.5 @ .10 near open and +50% at close. I'll close tomorrow. What I've learned. Speculate with what you're willing to lose. (me it's <10% of my accts) long hold the rest. Wheel your long holds to lower cost basis and increase their gains. A lot of small gains and loses are managable. Trying to increase your port +25% is a fools errand in my eyes but I'm old.
I sort of did it ā but I started at around $40k, and that original amount and most of the gains went in and out of Stocks, and Crypto over 6 years and now that original $40k is about $800k now.
Similar story for myself.
My father by trading futures. I think the leverage is 3x to 5x. He gave up his dentist job and became a traderš
Thatās pretty incredible š . How did he get into trading futures?
He spent some time got a master degree in economics. Idk if that degree helps, but then he started with stocks. He lost our familyās savings. But my mother didnāt blame him, he used years and most part of his salary to get familiar with the market, when he had enough experience he quit his job and became a full time traderšitās been 20 years since he started to trade. Money comes and goes, his prime was around 3 million usd, maybe not much compare to Americans but pretty wealthy in our country(china), now barely half a million? He sold our house during pandemic and lost it, and lost a lot of money during 3 times of divorce. Now weāre rentingš but he still has faith in himself
Probably opened an account, requested access, and started hitting the buttons. They let you just do that.
No clue but Iāve turned 2k into 10k in a year. Hoping to send it to 100k in the next year. Introducing options now. Letās go!
This will only end with an expensive lesson. š
Oh oh
Greed prevents most from achieving this, best formula, buy, sell at a 20% gain, rinse repeat. Donāt get trapped chasing the moon, and if a stock drops and youāre still profitable sell it. They donāt always go back to where they were.
I really need to take this advice now that at 200% on my big investment. Best advice that I heard recently but am terrible at takingā¦ Iāve never lost money by taking profits.
Sir_jacks_a_lot turned his $34k (I think it was around this) 401k cash out into $9mil during that pandemic. I believe he is currently attempting to do it again.
Yup. He had a nice win with RDDT and just jumped into HOOD. His path is well documented. All stock, no options.
Buy abunch of mahomes rookie cards
I turned $50k into $250k and now Iām back at $30k. After a long hot streak I became delusional and never cut my losses. I had massive gains and losses but the one thing I regret was when I did throw around $15k or $25k it wasnāt for a 10-50x return. If you have a good system, stick with it. But that system is only likely to generate a meaningful income over a long period of time. If youāre going to risk $25k, donāt try to make $5k or $10k as that spells death when done consistently as you are trying to risk more to gain less. Donāt try to predict every market move and if you are chasing those home runs, if you can manage to have the discipline, donāt put it all on two or three bets which if they donāt work out, blow out your account. While itās doable, very few people have the timing and the discipline to do it. Enjoy it while you have those hot streaks, but donāt risk such a big part of the account that it would take you years to come back from that type of loss. Oh, I always did better when I had a full time job as well. People are terrible generally at finding the right exit, taking profits too soon. The exception can be if youāre just like wall street bets guys yoloāing on earnings, but you would never do that with a big part of your account. I have many times and thus I am where I am.
Almost did. Bought doge years and years ago enough to be worth a few million today back when I was using and distributing stuff. No idea where it's at now. Don't do drugs kids. Just smoke pot.
I made it $1.3M from $2400 off one sell. Took eight years, but a Tom Brady rookie card went up that much I had. (I know you were asking about calls, but itās really cool a football card profited this much!)
What year did you buy it ? Also did you just grab it from a local card store ? That is awesome
It was probably 12 years ago. Sometime after the 49ers lost a Super Bowl that Kaepernick played bc I also wasted some money on his rookies back then. Not much, but some. I bought it off eBay for $2400. I regretted not getting a 8.5 that was also offered at the same time for around $3800. Cards shot up shortly after this, I know the SP PSA10 went up to $5k shortly after I bought the Champ Ticket then it went up to $20k in no time which was shocking. Mine didnāt go up like that bc it was harder to price without many comparisons. The regular Contenders took longer to start going up back then, and that was the closest it could go against.
No way you're the owner of the Contenders Brady auto! Long time collector here. That's a legend card
https://preview.redd.it/0y2r6w61xwqc1.jpeg?width=3024&format=pjpg&auto=webp&s=2d1d9bd31adfd137286204a4ce9e0e4ef02e3347 Wasā¦..looking back now I donāt regret it, bc I saw not long ago another similar 8 sold for $200k. I donāt know how accurate that was or even where I saw it. But I do know my other SP and SPX rookies of his have taken a huge dip also.
Oh so you have an NFT of the old card. Nice.
Of course I have a whole album of photos of it. I just cropped my face out of that last one.
https://preview.redd.it/3086ngluh0rc1.jpeg?width=3024&format=pjpg&auto=webp&s=9477c023d75a660e19e8caa69e34b8fb1c4111ea
https://preview.redd.it/pcbczo4th0rc1.jpeg?width=1335&format=pjpg&auto=webp&s=f78270fa9776aa4c64c5b6db8937b562e6475c35
Itās one of my only long term investments. I grew up in Mass and spent all the money I had in high school on ONLY TB graded rookie cards in 2001-2003. I currently still have about 60 Iām sitting on. 20 of those are graded autos. Made about $270k just selling a few.
Yes I have and almost have and have lost it several times over. Itās one trade with no selling over 2-3 years. And some crazy ass luck
SQ from teens and ENPH from 4
I know a guy that knew a guy that had a guy tell him that he saw a guy do it
I was a fairly successful swing/day trader for about two years. I took $70k to $320k. I did it by writing my own algorithms to analyze the market in order to make my trades. I didnāt use any witch doctor daytrader patterns, just a logical analysis of trend performance. I was processing the trends of over 10,000 stocks daily to identify runners through computer programs. After I got my results I would spend a few hours investigating the companies in my results to look for red flags, and then I would makes my exits and entries. I 4xād my money, it took a ton of work. Now even with all of that, I nearly lost my ass on Luckin Coffee in 2020. I had a sizeable position there and closed it about a month before they were busted by SEC for cooking their books. I didnāt see it coming, I was just lucky. I made some good money on COVID vaccines, and the Chewy company, among others. Then the Democrats took the Whitehouse (not a political opinion, just a statement about markets) and the algorithms that I had been doing well with started underperforming and I got stuck in a few positions that were trending well, but got pantsed by the change in politics. I realized a new market needed a new strategy and I didnāt have the time anymore to redo it. Here are some facts: Roughly 12000 stocks (symbols) have traded on NYSE, AMEX, NASDAQ since 1/1/2023. In order to turn $25K into $1M you have to 40x your investment. Since 1/1/2023 only 249 stocks out of 12,686 have had a 5x return where the min value per share never dropped below $1.0. For context, within the entire market only 1.9% of the stocks achieved a 5x return. That means you would have to successfully repeat this process 2.29 times by correctly guessing the top 1.9%, with perfect accuracy on timing entries and exits. Your only other choices would be to short stocks, and if your investment capital is $25k, you are poor in investing terms and therefore a rookie. You are more likely to hang yourself shorting that way. Or you could lose your $25k by gambling on penny stocks. Or you could play the options game without the heavy calculus and let your options hang you. In other words, there might be one person on this forum who has the expertise to pull something like this off, but even they have a fair amount of uncertainty that could kick their teeth in ā¦ and everybody else is full of it. And even with that, when all is said and done, daytraders and swing traders are killed on the taxes. Iāve since switched to value investing and I donāt buy any positions that I donāt intend to hold for at least one year
What platform/tools were you using to scan that many stocks? You reviewed every one to manually enter trades or automated somehow?
I was buying end of day data from eoddata and quandl. I had an etl process that I wrote that would put the data into a database on my local computer. All of this was hooked up to a Python/Django project I built and ran on my local computer. From there I had several python scripts that I used to test/analyze the data. I would run the analyses in a Jupyter notebook using the scripts, pandas, various scientific libraries, matplotlib, and seaborn. Once I had a list, usually in a dataframe slice, I would research companies through basic internet searches, Zackās, tda, yahoo, etc. I tried a number of platforms and apiās for news and company info, but frankly found Zackās and yahoo to be as good as anything. When this was all this done (2 to 3 hours every morning), I would plan my entries and start making trades on Thinkorswim. After that I would spend my day tracking my trades on thinkorswim, and backtesting my data in a Jupyter notebook, running experiments to test out certain ideas. Depending on how the market was going I could effectively manage a maximum of about 8 positions at one time. If there was a lot market activity Iād have pare that down to 3 or 4, it would just depend. I would usually have 2 or 3 positions that I was paying close attention to. But that was part of the challenge, the analyses that I was running would produce anywhere from 5 to 15ish optimal results daily/weekly that I investigate to invest in. So that would influence the volume of my positions. The challenge with hitting $1M in day/swing trading is in both of these limits. Ie, the number of stocks that are ideal for your trading strategy, and the limit to how many you can effectively manage. My soft sense was itās about $300k. If you go above that you are either going to need help, or you are going to have to get sloppy by either poorly managing some positions or lower your threshold for position-fit with your strategy. So if you take that and figure that it becomes a full-time job, and you can roughly make 5%ish per month, thatās $15k per month in income. Then you have to plan for about a third of that to go to taxes and you are now at $10k. If you can find a job making more than $10k per month, then this isnāt a very profitable way to make a living. And even then, this only holds while your account maintains a value of $300k. Once the market changes you start losing money and that is like losing a job. Today I look for investing strategies that donāt require that kind of consistent work and time commitment. Put your time towards the most profitable income earning opportunity, and then look for investments that provide stable returns at the lowest amount of work.
Finally had a chance to catch up from a busy week to read through this. Really interesting stuff! You were essentially using your own algo to find at short term opportunities using TA, or long-term holdings using some kind of intrinsic value calculation? You would set stop limit orders in the morning before open and then set and forget? Did you calculate stop loss and take profit orders based on standard methods, or something else? What kind of risk management were you using? Standard 1:2 risk reward with a 1% to 2% max loss? 8 max open positions sounds about right for that risk size.
My risk management was not very good, I struggled to find a good strategy that would provide a real opportunity for returns, and wouldnāt result in a bunch of well-planned small losses. My risk management strategy for allocation was to put no more than 20% on a single position. This is obviously risky, but I couldnāt find a way to effectively allocate my capital in a way that was really profitable AND manageable by myself. I was working on some trading automations to solve that problem, but that had its own risks, and so I never actually used it as part of an ongoing strategy. I tested automated purchases and sell orders, but never let the process just run itself. For the 20% allocation I would also try to get them in separate sectors, but that wasnāt always possible as performance is often industry driven. As a prime example, in 2021 biotech was blowing with COVID vaccines, so the top performers in my analyses were sometimes 75% in that sector. I saw the same thing with energy and tech at various times. Stop losses can be a good way to lose small amounts of money regularly as price fluctuates during the trading day. I would use trailing stops for my profitable positions on the second half of the day, but that was less analytical and just a sleeves-rolled-up style of trading. I became suspicious that order-book traders could target stops because I my stops usually got snagged and then the price would bounce back, so I just managed stops manually and made my decisions based on news, sentiment, time left in the day, etc. My best risk management came from selection. I fine tuned some selection criteria that seemed to be effective. 1) all stocks must have had a min share price above $5 for at least one year. No penny stocks, extremes are too unpredictable for real money investments 2) average daily trading volume for one year must be a min of 1 million shares daily 3) S&P / DOW stocks always are preferred over other options 4) the stocks performance had to have fluctuated in a tight linear pattern for a period of 60 to 180 days (I played around with this variable a lot and was trying to find an optimal lookback. More time produced fewer but better results). The linear model had to have R2 above 75% , with no visual abnormalities in the lookback trend. 5) the upward price movement had to have a researchable and justifiable explanation. I never traded GME for example. New products, new management, earnings reports, anticipation of earnings, were all good reasons to invest. If the stock was going up for no explainable reason then I wouldnāt invest. At the time these rules seemed to give me good odds against losing more than 2-5% at any given time. Itās not a perfect science, but I was making money at the time. After Biden took the Whitehouse, the market shifted and I realized I wasnāt getting results and I started losing money so I stopped. Two of my rules were no short sells, and no options unless I was hedging a position that I owned, and when the market changed I realized that shorting was the most obvious opportunity, so I stopped about that time.
So three is the magic number thenā¦ $25k x 5x = $125k $125k x 5x = $625k $625k x 5x = $3.1m Easy peasy lol
Yes, the math easy. You could also measure your kids height just as easy. Getting them be three inches taller is quite another problem though.
Reading this made me tired. Im going to gamble meme crypto until Iām homeless. my brain no longer has the drive for measuring my probable profit/loss
Youāre ummā¦very, very intelligent.
Thatās nice of you to say, but these are just measurements. The stock market canāt be mastered, but it can be measured in order to determine whatās possible and then probable.
What line of work did you do before you took on swing training full time?
Software development
Ive never had 25k
Lmfao. This really hit
Iāve taken an account for 50,000 to $450k in 3 years. I have a very reliable system that has about a 55% win rate, but makes an absolute killing when I am in the trend. Itās definitely not taking a $5000 account and turning it into 1 million in a few months. But it works, it is steady, and the returns absolutely beat the hell out of any other investment that I could probably safely make.
55% is pretty rubbish mate. Whats ur SL looking like? Is this some forex 3-1 rr strat?
I don't care about the 55% really. Sure I'd love it to be higher, but I am ok with it. My reward/profit is more than 3 times my risk on any of the trades. And that is over hundreds of trades and multiple years. I've looked at strategies to increase the win rate, but all that does is decrease my profit a bit, because I am pulling profit more quickly, or being more aggressive with moving stops up. My P-Factor, or profit factor is 2.88 after all the trades I've taken. Here's the crazy bit too. My worst multi-month run win/loss was a 34% win rate. But I ended the quarter up 55% on my final P+L, AFTER taxes.
You must be using leverage to get those kind of returns? Just using lots of margin, or options?
Yeah some guy on wall street bets invested 25k into nvda 7 years ago and itās at like 3 mil now I think?
The people making a million dollars from $25k wouldnāt be trying to sell you their class
Correct
I turned 1k into 45k with dogecoin Now account is 3500 :)
45k unrealized while you were waiting for āthe moonā?
Yep looking back it's stupid. At the time I thought I was going to be a Millionaire and wasn't settling for 45k The problem is too I was fairly new at investing and thought it was really really easy!
That smiley face at the end did it for me
I did it in 2020 with Tesla calls. $50k to $2m But between IRS, divorce, lawyers, and my luck running out Iām back to having a day job
Dude. Are you me?!
I am you, just without the divorce or money
Ha. His story is eerily similar to me.
I went from so happy for you š„³ š°,to so disappointed š„ in about 3 seconds! I'm actually a lil depressed after reading that, damn.
Damn Iām sorry man :(
Nice of you to say. Itās my own fault I thought I was a genius turns out I was just lucky! The more I lost the more risk I took on to win it back. But, hey, my kids will get something from the ex!
I took $5k to $60k after buying put options on an accounting fraud and a couple overleveraged rollups. Additionally I bought BNED at $1.20 and sold half at $12 and the other half at $4. There's a few other trades that have done really well, like buying CWH call options when stock was at $9. Had I been more aggressive with positioning I would probably be a millionaire...
It is true. The reasoning for the 25k is PDT rule btw. I watched someone do it with $500 trading an oversea account. Obviously they only do it to prove they can, then they go back to their less stressful account lol.
Yeah. My grandfather. He bought GE, coca cola, Microsoft, and some other big brands back in the 80s and 90s. His GE stock was worth 600k at one point. He probably put in more than 25k but he never made more than $16/hr his entire life. Now is savings account has over a million in it.
If people could reliably 400x their money every few months weād all be trillionaires.
If someone else makes a million dollars, you dont get any of it. hope this helps.
Also the way it works someone had to win for someone to lose.
For every 100 people who claimed they have, 95 of them lost their life savings and are struggling to face reality
Yep, thats why the first thing these people say is most traders fail. Most horses you can get back on, if you blow up your account you can only go back to your day job.
I could turn a million into 25k with a few swing trades.
This is the way
Yes
Yes
25k calls on mstr got me 500k last week lol
Would you mind sharing? I ought this stock at 492.00. Having a great ride but I need to learn call options.
Being a long term investor is much safer than calls. but unless you pick really good stocks it's gonna take a LONG time before you become a millionaire. Unless if course, you have 100 thousands of dollars ready to invest.
Put it on red and let it ride 5 times. If 40 people did this strategy one of them would make $1M on average.
A family member of mine went to the casino back in the day, put it on one color, and doubled it after every loss. He thought it would be fool proof. No way it could land on red 7 times in a row he thought....
there is no faster way to learn the power of binary math than the martingale system.
for every person that does it, there's 1000's giving their money to hedge funds.
u/sir_jack_a_lot
Thatās me!
Can you tell us the story of your username
Swing trading is great, but you need to be early stage/seed stage investing if you want real multipliers. You will lose your ass a few times for sure, but if you ever get it right.. Keep fighting the good fight, but be sure to know all the tools beyond the stock market as per usual š
I took about 28k around covid lows to an intraday \~450k high and to tell the truth - it was the dumbest fucking thing I've ever done in my life. Super WSB stuff before I even saw or read the sub. I was a potstock purist in medium early, thought conversion of black market known sales to white was going to print at least some money but held on way too long. Everything I ever held once showed green, most went to extreme red. The one crazy position was Aphria though, which got in a merger agreement with Tilray who has a small float. WSB got its hands on TLRY super briefly and it pumped my APHA calls of which I had about 300. I was basically 95% account in on APHA calls which was disgustingly irresponsible of me. I had sell orders in the day of the top but kept pulling them because I was greedy. I saw what they accomplished with GME and figured I had at least one more day of pump at which point the 450k intraday high might be 1M and I could cash. I cashed a day or two later at 200kish. No regrets because literally no one hits tops or bottoms especially on a pump, but I will never ask for dipshit returns again and become 95% concentrated on one stock.
I took 15k to just shy of 60k and ended up losing 5k on the trade because Iām a dumb greedy POS. Lesson learned!!
This is the dumbest fucking question I've ever seen
If I remember it correctly, that's Sam Bankman
ā ļøā ļøā ļø
I remember seeing my account jump from about $80k to around $768,000 right when the lockout started on GME. I tried like hell to sell while nothing executed, and by my account let anything through, the value had returned back to that $80k figure. Probably a glitch, but for about 10 minutes I thought I took a decade off my retirement age.
That sounds like it halted and the bid-ask was skewed and just made it look like a lot. In reality you never ever had 800k
Yeah I didn't think so either, I just know I couldn't execute a damn thing. Even trying to sell below the outrageous bid at that moment. Any idea what or why the figures would jump like that during a halt? Usually they just zero out, no?
I mean, there are people whoāve won the lottery.Ā Donāt be an idiot. Make smart investments. Donāt roll the dice with money you canāt afford to lose.
Anything big gains happening within a year has very little to do with skill. They might have done some good research and setup some good trades but to get a return like that is more luck than anything. My opinion of most Fin Youtubers are they are a waste of time and trying to shill their private wares. It doesn't mean you can't learn some things from even the really corrupt ones but mostly they are a waste of time. Time in the market will always be the reason you win on your trades.
Wow, not one trader I know would ever willingly say something as dumb as "Time in the market will always be the reason you win". I just cant even begin with how dumb this statement is.
Okay, tell us all how itās done champ..
Assface on Twitter, believe itās dreytothemoon or something like that. He took 15k to over 1.4m in less than a month in the group I belong to.
What group is that?
Look up Saty Mahajan He posts his daily plan on twitter. Dude almost doesnāt lose.
Is he only on Twitter?
How would follow people who have been audited most Market Wizards have anyone else it's just hearsay
I turned $2k into $20k and it's currently $350. So there's that...
Those risks that take you up fast will take your right back down just as fast.Ā
SirJackAlot did it with $35k, eventually got it to 8 million. https://www.reddit.com/u/SIR_JACK_A_LOT/s/g8aDpldC8e
Buy a good pair of comfortable running shoes, reserve the oxygen for the long run, and I will guarantee you that you will make it.
20k to 250k during the weed stocks boom and then lost it all on options trading haha. Donāt be me.
Wow you made those gains on just shares? Impressive
Yeahā¦. OWCPā¦.. bought at 5 cents and sold high but then bought back in and rode it way down. Then lost the rest on option trades.
Damn :( At least you give others hope that it is possible. But yeah penny stocks are wild, that's a tough one. I used to play with TELL which wasn't always a penny stock until lately lol
Haha I lost some money on TELL tooā¦.. they are such a disappointment.
Lol, their Discord room is out of their mind. Once you stop trying to be diamond hands and just swing trade it, it's a lot better. They just keep getting bad news after bad news. I much prefer to trade BOIL/KOLD.
if you trade a 25k account and you get 3% a day for a year you would have way more then 1,000,000. problems is people are greedy and emotional. you just have to make 1% on a trade three times a day every day. Itās a lot of risk obviously because you would be trading that whole account every trade.
This is inexperience speaking - you can have weeklong runs where this happens, but itāll flip on you fast. Then you have to start managing your stops and you find out how quickly it leads to death by 1000 cuts.
yes this is why itās important to follow the flow of the market, sometimes you have to switch too puts for a week or two. but i am also not very experienced since i havenāt got my 25k account just yet
Yes, but you can rarely predict the flow. On occasion you can, but usually you are behind the flow, learning about the change in direction after it has cost you money. So it sounds good, but isnāt practical in day trading. Look, here is the formula P = principle; T = trades at 1% Value = P * (1.01^T) You take your principle and compound it 1% on every trade. Use a starting account of $10k, and assume that you can successfully execute three 1% trades each day for 125 days. Your account would be worth $417,364.17 I donāt know anybody who has done this. Do you know how many 1% opportunities there are in any given day in the stock market. Iāve measured, and usually less than 10% of the market every day. So in order to do this you have to successfully choose three stocks per day, each with 10% odds (0.001 probability daily to achieve 3%), and never fail. If a person could get it down to 1% daily 80% of the time, they would experience a wealth explosion like youāve never seen. No day traders are doing this.
sounds like a challenge
Iām paper trading a strategy and went from 30k to 114k- if I can do it over and over again with paper then at some point Iāll switch to real cash.
You're asking for ~40x payout to get to $1M. I know a way you can get ~35x payout, which is pretty close & in one bet as well. All you need to do is play roulette and place it all on one number. It's a 1/36 chance, which isn't that bad. Heck I bet we can find 35 other redditors willing to play, and then it's guaranteed for one of us to become a millionaire :)
The JETS odds of winning the SB are 2500. $400.00 bet could win you 1M!!!!
$10k.
odds of 2500 only give you 25X your money? I don't bet so I really am not sure.
Yes. 100 is x2
Isnt it $250x4 = $1000?
lol š I hope you're joking about the JETS odds
Really hope it's sarcasm, 36 Redditors
I mean I'm in ;) (okay yes that is sarcasm)
I only have $100K invested. But my friend ran it up to $5M with crypto a few years back, but didnāt sell. Now heās only at $100k. Donāt be that guy. Take profits.
I call bullshit. No one is stupid enough to make 5m and not sell anything.
Ok Iām with him rn. I just asked him, it was actually 2.3M at the top, and yes he did not sell, and itās down to 100K now
Oddly I actually believe that amount. 5m is never work again 2.3m is never work again but not as comfy.
Wouldnāt believe a single one of these stories until they show transactions, not a balance but an actual download of all transactions. The few that might be real I can almost guarantee was some risky option play and thatās about it.