Blog - Road to $1million Trading Options

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Quote from FullyArticulate:

If I got it right, you bought $7500 in short dated SPY options and sold $14,500 worth of SPY short right before the 2/27 crash.

It seems unrealistic to call this a "$30k" account. You committed 75% of it to two trades on one underlying going in one direction.

Any reasonable trader would need an account of at least $350k to make these trades and not risk more than 2% equity on just the option position.

Otherwise, their probability of ruin is up in the 95%+ range.
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Anyway, I'm pulling for you hitting your $1M target, but calling it a "$30k" account seems disingenuous.
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Thank you Full Arti;
for kindly telling us the truth, wish Bud Fox well also.

Think risk of ruin is only 95+%?????;
why not 99%, since Buddy Fox has admitted to 75% hit rate.
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Now i am not making a prediction, actually one [1] to isure NO RISK of Ruin is to withwraw 7.77% of Buddy Fox profits.

Keeping it on a positive tone;
however while keeping him from blowing up another account,
that would cause one to laclk 7.77% making 7 figures:cool:

Have to respect Bud Fox honesty for admitting he has already blown up one accont;
me too, options too.:cool: :D
 
with a decent winning rate, I only allocate a certain % on each trade. I usually add heavy when I am very confident on the position.
 
Quote from BudFoxx:

with a decent winning rate, I only allocate a certain % on each trade. I usually add heavy when I am very confident on the position.
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Sorry, but self-reported profits are zero proof. If you want to prove something, use a tracking system, like Collective2.com that actually proves it happens. (yes they handle options)

Otherwise, this is all noise to me and is little more than a self attention getter.
 
Quote from atticus:

Where are the unrealized gains/losses? Is this paper trading account? I know etrade's sim used the same interface.
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REAL ACCOUNT.. Realized gains only posted
 
I have watched Budfoxx post trades real time and had some breif chats with him. IMHO he is the real deal and this is not BS.

Cheers :D
'R'

PS: This was an unsolicated reply.....to be honest I highly doubt Bud cares if people believe what he is doing or not....LOL...I sure would not if I were him.
 
Quote from BudFoxx:

REAL ACCOUNT.. Realized gains only posted
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Why not post unrealized losses? Just for transparency.

I don't dispute the results, but it's not an audit. Why simply post a blotter? Why not more position posts? As rcanfiel suggests, a collective2 or even an IB papertrading account is warranted here. It's not as though anyone can front-run your positions.
 
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