From $1000 to ? Trading SPX Weeklys in my Roth

[.sigma]

TradeTheory I really enjoy your journal. You know how to
communicate your message and structure your posts that
way, just saying I learn everytime u post.

anywho, I’m curious why stick strictly to the SPX?
Reason being is because I’ve been trading flys
on single names and have been pretty successful
even tho the indexes seem to be collapsing.

the magnitude of all movement is huge rn
and within these single names they are buzzing
like humming birds in place, flucuating but
Really not going anywhere.

 

[Trade Theory]

TradeTheory I really enjoy your journal. You know how to
communicate your message and structure your posts that
way, just saying I learn everytime u post.

anywho, I’m curious why stick strictly to the SPX?
Reason being is because I’ve been trading flys
on single names and have been pretty successful
even tho the indexes seem to be collapsing.

the magnitude of all movement is huge rn
and within these single names they are buzzing
like humming birds in place, flucuating but
Really not going anywhere.

I'm definitely not opposed to trading other products. I have more success focusing most of my trades on the S&Ps for a few reason. The most important is its liquidity. The bid ask spreads are much tighter on the SPY and SPX when compared to other products of relative size so I rarely have to worry about more then a few cents of slippage. Its easy to scale up with the SPX being 10x the size of SPY. Also I've had more success sticking to one single market. I'll daytrade ES futures on the trendier days so sticking to one market gives me a better feel for price action.

Trade 18:

BOT +2 BUTTERFLY XSP 100 30 MAR 20 247/244/239 PUT @-.03 CBOE



This is a short dated downside bet expiring Monday. I'm looking for the market continue lower on Monday. $400 at risk here, all to the downside. The risk comes from a big gap down on Monday's open. I took in a small credit to cover commissions so there's no upside risk on this trade.

 

[.sigma]

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.

thanks for not listening to this dudes weak advice!