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    The Patient Trader's journal

    Good chance of closing in on your profit figure tomorrow. Nasdaq has been drastically underperforming Dow and S&P for the year, so it might try to catch up here. Overnight move is so far in your favor as well. I am also long going into tomorrow.
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    Lotto's $10,000 Challenge

    Good luck.
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    From $10,000 to $100,000 in 6 months.

    I shouldn't have posted the pics of the car I admit. I was just trying to show a point that it might not have been the best time to start the challenge since I had a pretty traumatic event just a couple days back. I also didn't point out the type of car I was driving or anything. I feel that if...
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    From $10,000 to $100,000 in 6 months.

    This is how the conversation went: Me: Do I need a police report to be filed: Him: If it is a one vehicle accident, then typically there does not have to be one filed. Me: What if I the insurance company asks for me? Him: Then we can write one up. I walk away from the car. Minute later he calls...
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    From $10,000 to $100,000 in 6 months.

    I wouldn't do such a challenge because $100k is material enough for me not to through it into a challenge or an experiment. If things go completely rouge with this challenge, I might repeat it again. The first losing trade I took on the account really hurt the morale of the challenge. I have...
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    From $10,000 to $100,000 in 6 months.

    Negative criticism on my trading style or lack of inaction don't really faze me. What does get to me is when people make assumptions on my financial situation. My dad is a programmer and my mom is a nurse. They drive a leased Honda CRV. I do not come from a family of wealth. My family is as...
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    From $10,000 to $100,000 in 6 months.

    Not passing the blame over to theta. I am just emphasizing that on this trade, it was the time decay that piled on the loses. If I had taken a deeper ITM call, then the losses would have been very minor. There are folks that watch the videos and threads that are just getting their feet wet and...
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    From $10,000 to $100,000 in 6 months.

    AMEX still reports to credit bureau. My credit score right now is just shy off 800.
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    From $10,000 to $100,000 in 6 months.

    Day 3: https://www.youtube.com/watch?v=MEZMlH_79Gc&feature=youtu.be
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    From $10,000 to $100,000 in 6 months.

    Appreciate the comment. It is crazy when you see people splurge on things left and right when they are holding onto a five figure credit card debt. It's a slippery slope. I don't even utilize visa or mastercards. The only cards I have are American Express charge cards that get paid fully at...
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    From $10,000 to $100,000 in 6 months.

    I would like to point out that on most occasions, if I am initiating a new position and the trade either stays near my entry or against me, I will tune out all the noise on the internet and focus strictly on watching the market. So if the updates aren't there throughout the day constantly, it is...
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    From $10,000 to $100,000 in 6 months.

    Day 2: https://www.youtube.com/watch?v=S8LK5vGDxQM&list=PL9qd9RGCm8pYyDEFQCwZovdnGzlTbZLkG&index=3 Not much action on the closing price compared to my entry. I did pick up an additional $600 in losses, primarily due to theta burning away. Apple has been fairly range bound now for the past 7...
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    From $10,000 to $100,000 in 6 months.

    Sorry, edited. I knew I was missing something.
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    From $10,000 to $100,000 in 6 months.

    Trade opened. Apple $592.50 calls. Expiration is this Friday. 9 contracts. $2.84 fill.
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    From $10,000 to $100,000 in 6 months.

    I am not going to post such private detailed information on a public forum in which I am using an identity that easily links to me. This needs to be done privately, and it needs to be done for money.
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    From $10,000 to $100,000 in 6 months.

    Wait, I offer a full tax return, and you come in with a 281x46x cropped image? Second of all, the bet was not on how much you make, but what I make. You said that I can't fund beyond $10k and me calling this a social experiment is bullshit. Once again, referring to the fact that I am some...
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    From $10,000 to $100,000 in 6 months.

    You are beyond delusional at this point if you possibly believe my only stake is at $10k. Downpruf, I have said something similar along the lines before, I will say it again. Let us put our mouth where our money is. We pick a moderator here. I will provide them with my tax returns for the...
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    From $10,000 to $100,000 in 6 months.

    I have now wired the remaining balance of $3,880 to a new TOS account. It will clear today but they likely wouldn't post it to my account until Thursday.
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    From $10,000 to $100,000 in 6 months.

    This challenge was specifically done to replicate a reasonable starting balance for a new trader. To trade options back and forth, they would need at least $25k in their account, which many would not have. I've stuck to trading futures mainly during off peak hours whenever the market is looking...
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    From $10,000 to $100,000 in 6 months.

    I would also like to point out that it is a bit difficult to come back to this thread right away when the very first post after posting my entry is: I was down about 7-8 points at that moment but the hate just started to come in rolling. There is obviously a personal vendetta against me here...
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