From $1000 to ? Trading SPX Weeklys in my Roth

[Trade Theory]

Well then make it a tradable account that you can reload.

I trade the same strategy in my taxable account as well. I'm doing this in a roth so if the account explodes, I'm not taxed on the gains.

 

[Overnight]

I am a bit of a gambling man and play poker at the casinos here in San Diego frequently. This has greater edge. I'm looking at the $1k as a small percent of my total net worth not as my whole account. Anyway not here for approval, I'm here to track and publicize my success and/or failure.

I *think* there is a slight difference between a "fuck it" account, and an account where you realize that "you can lose more than you invest", or whatever the wording is in the standard risk disclaimer for investing/trading.

Have fun storming the blackjack tables!

P.S. I will give you one nod...You cannot lose more than you put into the middle in poker. But you can in trading leveraged/margin instruments. So you have that going for you, at least.

 

[guru]

Can’t become a trader without actually trading or practicing. My kids got a piano for $2k that they used to discover they don’t have musical talent. But some discover they do.
I wonder how everyone else tests their trading skills or discovers they have talent for trading. With $100k accounts?

 

[ZBZB]

nah.... go mow your neighbor's lawn and get that to the $6500 limit.... you sound like a young dude... don't waste your time... both my kids are doing the $6500 limit plus extra money in a non retirement account... starting young you can let the compound magic work for you.

You are www.daveramsey.com !

 

[Sig]

I trade the same strategy in my taxable account as well. I'm doing this in a roth so if the account explodes, I'm not taxed on the gains.

Nor do you get to write off the losses. Which are far more likely.

 

[Trade Theory]

Trade 1:

tIP BOT +1 BUTTERFLY SPX 100 (Weeklys) 10 JAN 20 3265/3280/3295 CALL @2.00 CBOE

Starting Balance: $1001.75
Current Balance: $1001.75
PnL: 0

I'll only be updating balances and PnL when I close the position.

 

[Billicare]

Hi Guys! I've got a roth with $1001.75 in it. I plan to trade SPX weeklys purely speculatively with the objective of quick growth. Planning to trade butterflys condors and verticals and will be tracking my trades here. I'd say chance of blowing up my account maybe ~35%. I'll be placing my first trade this Friday. Wish me luck!

Starting Balance: $1001.75
Current Balance: $1001.75
PnL: 0

Trade 1: to be determined

Good Luck to you!

 

[Trade Theory]

Trade 1 closed:

tIP SOLD -1 BUTTERFLY SPX 100 (Weeklys) 10 JAN 20 3265/3280/3295 CALL @5.30 CBOE

+$330 Profit - $4.14 Commission

Starting Balance: $1001.75
Current Balance: $1327.61
PnL: +$325.86 = Account up 32.53%

 

[guru]

Nice. So far so good.

 

[El OchoCinco]

Why do 15-20% of your account on a trade? Why not just do 1.5 to 2%? You last longer when ye be wrong.

it is only $1000...I dont think he can buy options for $0.25 max and put on any position as he described....