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LOL ....... I thought you had me on ignore, you haven't responded to one of my posts in a long time.

If it's closed at $3.50 the loss is only $1750.00, minus his opening credit of $250.00. No big deal.

Liquidity is a moot point and is no barrier at all. The ONLY problem you have in turning $5000.00 into $30,000 is getting the direction right. Options for GOOG, DIA, AAPL, NFLX, PCLN, QQQ all have high enough volume for your trades, and they all have strikes that produce 100%+ returns on a...

I'm just making things up ..... I'm trying to get atticus to fall for some troll bait, looks like he wont bite. :(

I paper traded this IBM position with Yahoo Finance and it's down - $138.00 / - 281.63% with expiry in one week - IB commissions included. Anyone else get the same results? Fill prices were based on MTE's chart from page 4: http://img688.imageshack.us/img688/2833/screenshotpcj.png

Account Balance: $5000.00 - $253.00 = $4750.00 Next week we progress to a $500.00 trade for your quest to $30,000

UPDATE Bought 10 more @ $0.13 Average price $0.20 Total debt $253.00

I posts live trades on occasion. This one was entered 6 hours ago. http://www.elitetrader.com/vb/showthread.php?s=&postid=3229485#post3229485

That's like saying: "I'm not a big fan of sunny locations, but I would like to know a good vacation spot in Mexico". "I'm not a big fan of FaceBook, but I just got my 2000th friend the other day". "I'm not a big fan of motor sports, but I would like to get some tickets to NASCAR".

Perhaps buying calls would be better. http://www.elitetrader.com/vb/showthread.php?s=&threadid=223010

Use a MARKET order. Why bother with a LIMIT order? Don't be sucked in to the myth that you get ripped off on MARKET orders. Problem solved. :)

It's doubtful that a trader rode the entire loss to $8.00. Probably closed at $0.80 and the next guy closed at $1.60 and so on down the line.

Do the math and I think you will care. Even with the paltry $100 to $200 returns you will be up to your $30,000 target in no time. I will post a live two day $100.00 trade this Wednesday July 6, 2011 and show you how easy it is to get 100% return by Friday July 8, 2011. Be sure to check...

QQQ 57 call sold at $0.68 P/L $39.00 = 138% including commissions

My paper trade would be a 1 day QQQ 56P/57C strangle, entered at about 3:30pm EST - 30 minutes before market closed on Thursday June 30, 2011. Prices below are approximate, but the outcome of the trade will not be affected because any discrepancy would be in the pennies. QQQ 56P/57C strangle...

Now trading @ $4.50. Since last day of trading is today I would close it. This sort of 1-2 day trade every week with the weekly options should fit your requirements. Also check out the QQQ options, much cheaper.

Based on quotes at market close for a 1 strike OTM GOOG put the paper trade would be: Buy GOOG Jun 2011 480.000 put @ $2.45 http://finance.yahoo.com/q?s=GOOG110624P00480000 Close on Friday.

I use MARKET orders all the time with IB.

Use a MARKET order.

Buy one of the weekly options on the Thursday before expiration. The odds are much better than your requirements of a 10% success rate. Buy 1 strike OTM. My pick of the week: GOOG Jun 2011 485.00 put Buy Thursday sell Friday. Paper trade this and see how it does...