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50k account profits POLL
- Thread starter mcgene4xpro
- Start date
It doesn't matter what your math says. You are not going to make 8% a month forever.
You are short gamma. As a matter of fact, if you're managing to get 8% a month doing this, you're very short gamma. Your vega would also be very deep in negative territory.
I've only been doing the same thing for a few months, and I've already figured out that 3% is relatively OK, 4% is pushing it, and 5% means you have to be ready to constantly adjust somehow. I'm between 3 and 4 in these first few months, and already I have to figure out how to adjust in my third month, and I'm not sure I'll be successful either. So I know even that 3 to 4 figure is purely hypothetical, pending my success in coming up with a workable, consistently effective strategy for squirming out of months when the market goes against me.
I can't begin to imagine what you would do or how short gamma you have to be to claim 8% per month. The market isn't just giving you that. I hope you have a very good strategy for when things go against you.
And I will say this again, because it's worth emphasizing: every bp you make over Treasuries you make because you are taking on risk. At 8% per month, you're taking on a monstrous amount of risk.
You are short gamma. As a matter of fact, if you're managing to get 8% a month doing this, you're very short gamma. Your vega would also be very deep in negative territory.
I've only been doing the same thing for a few months, and I've already figured out that 3% is relatively OK, 4% is pushing it, and 5% means you have to be ready to constantly adjust somehow. I'm between 3 and 4 in these first few months, and already I have to figure out how to adjust in my third month, and I'm not sure I'll be successful either. So I know even that 3 to 4 figure is purely hypothetical, pending my success in coming up with a workable, consistently effective strategy for squirming out of months when the market goes against me.
I can't begin to imagine what you would do or how short gamma you have to be to claim 8% per month. The market isn't just giving you that. I hope you have a very good strategy for when things go against you.
And I will say this again, because it's worth emphasizing: every bp you make over Treasuries you make because you are taking on risk. At 8% per month, you're taking on a monstrous amount of risk.
Quote from trefoil:
It doesn't matter what your math says. You are not going to make 8% a month forever.
I've only been doing the same thing for a few months, and I've already figured out that 3% is relatively OK, 4% is pushing it, and 5% means you have to be ready to constantly adjust somehow.
If you want to share your trades with me either privately or publicly, I'd be glad to comment on them with respect to my methods.
My methods do not require constant management. Five minutes a day after trading closes is about it. (Full disclosure; I spend a little extra time each day as I use my journal as training material for the course I teach)
If the market is trending, I may roll the profitable side to collect some additional credit. This may take thirty minutes on that day. For the October expirations, I have rolled the put spread twice so I'm working on my third credit on that side of the iron condor for that one month.
Quote from ProfLogic:
You know Joe (or whatever your name is), I don't sell a thing on this site. I don't make exaggerated claims that I can't back up, I don't make snide unintelligent remarks abouts about people and situations I know nothing about and pulling my pants down isn't a requirement when I talk.
I'm a professional trader (that means I earn a full time living trading) and I develop software (something I do part-time and am good at). I have lots of references. References that are smart enough to test something before they make ignorant comments about stuff they are clueless about..
Well, at least the spelling is generally correct. Most of the other stuff is generally wishful thinking and overlooking your lengthy posting history. And if you don't want to get scraped, stop interjecting in the conversations of others trying to look "intelligent".
This poll shows most people here are morons. 10% a month? With 50k youdd be a billionaire in less then 1- years using compounding
so many dreamers...
guys 1% a month is the most you can do! 2% a month in 2008 when you go hsort and just hold.
so many dreamers...
guys 1% a month is the most you can do! 2% a month in 2008 when you go hsort and just hold.
Quote from failed_trad3r:
This poll shows most people here are morons. 10% a month? With 50k youdd be a billionaire in less then 1- years using compounding
so many dreamers...
guys 1% a month is the most you can do! 2% a month in 2008 when you go hsort and just hold.
Your chosen pseudonym says a lot to inform me of how to interpret your post.
I don't know how many "1-" years are in real life. Any way, don't forget that tax liabilities do impact accounts that are not tax protected.
My pseudonym on this board is my real name. I am known for my veracity and am unwilling to risk that reputation by making statements about my results that can be proven false.
Quote from failed_trad3r:
This poll shows most people here are morons. 10% a month? With 50k youdd be a billionaire in less then 1- years using compounding
A 10% return per month from a 50K account for 12 months (1 year) equals an account size at the end of that year at approximately $142,555.83.
(This is allowing for no increase in position size over the year, keeping a solid 10% a month return on the beginning monthly balance & reinvesting 100% back into your trading account on a monthly basis.)
Morons?? Billionaire? Start counting to a billion and get back to us when you finish.
Quote from JoePaterno:
Well, at least the spelling is generally correct. Most of the other stuff is generally wishful thinking and overlooking your lengthy posting history. And if you don't want to get scraped, stop interjecting in the conversations of others trying to look "intelligent".
Sorry to see the "white out" get beat. I'm a Buckeye but do truly like Joe PA.
The purpose of these threads is "open discussion" whether you like it or not.
If you knew me, you would know I don't look intelligent . . . I am intelligent. I don't bother to comment on that which I am not personally familiar with unless it is to ask questions to learn.
Quote from ProfLogic:
A 10% return per month from a 50K account for 12 months (1 year) equals an account size at the end of that year at approximately $142,555.83.
(This is allowing for no increase in position size over the year, keeping a solid 10% a month return on the beginning monthly balance & reinvesting 100% back into your trading account on a monthly basis.)
Morons?? Billionaire? Start counting to a billion and get back to us when you finish.
i meant less then 10 years...
do you guys even know how little billionaires are in the world? less then 1000....