Lotto's $10,000 Challenge

smallStops · May 13, 2014

lotto said:
I tried real hard today
...
I just couldn't get it done today - definitely a discipline-related issue.

Hahaha !!!
I was very surprised about this.

Could it be that you are actually afraid of losing the 10k ?
Also, you are certain to lose this as this is the goal, right?

TulsaTrader · May 13, 2014

I got this...

Here ya go - buy 10K worth of this:

http://finance.yahoo.com/q?s=SODA140517C00065000

lotto · May 13, 2014

TulsaTrader said:
I got this...

Here ya go - buy 10K worth of this:

http://finance.yahoo.com/q?s=SODA140517C00065000

I am looking to lose the right way. Buying those calls would be tantamount to just setting fire to the $10K in my backyard. Where's the story? Where's the catalyst? What's the set-up? The idea is to lose it properly.

Redneck · May 13, 2014

lotto said:
I tried real hard today to find something somewhere where I could risk losing some $$$,

I just couldn't get it done today - definitely a discipline-related issue.

Seen many people come here touting how they are going take X amount.., to Y amount.., in Z time

Vast majority of those attempts have failed - miserably

And it appears.., apparently..., so to will you

Refreshing

RN

smallStops · May 13, 2014

Redneck said:
Seen many people come here touting how they are going take X amount.., to Y amount.., in Z time

Vast majority of those attempts have failed - miserably

And it appears.., apparently..., so to will you

Refreshing

RN

Interestingly, no matter if it is about increasing or decreasing,
it looks like psychology comes into play.

lotto · May 13, 2014

Redneck said:
Refreshing RN

Some, like you, get it, RN. Many never will. I'll be back at it on Thursday. Tomorrow, I'll be chaperoning a 6th grade field trip

lotto · May 13, 2014

Rules for Success

xelite777 · May 13, 2014

lotto said:
I am looking to lose the right way. Buying those calls would be tantamount to just setting fire to the $10K in my backyard. Where's the story? Where's the catalyst? What's the set-up? The idea is to lose it properly.

You will soon find out that it is just as hard to lose as it is to win.

Because make no mistake, if you could find a guaranteed way to lose big in a very short period of time, then you would make a fortune just by reversing the trading rules.

lotto · May 14, 2014

xelite777 said:
You will soon find out that it is just as hard to lose as it is to win.

Because make no mistake, if you could find a guaranteed way to lose big in a very short period of time, then you would make a fortune just by reversing the trading rules.

dom993 · May 14, 2014

I have a trade idea for you. I am pretty sure it will reach your goal, although possibly not instantaneously:

Short 1 CL futures, and stay short (rollover when necessary) until your broker closes that position as you no longer have the maintenance margin. Short again 1 QM futures, same method. Once this one is closed again, you'll be left with about $1600 of the initial 10K: withdraw that and go celebrate your success on this challenge.

Interestingly, you can most likely reach your goal doing the exact opposite, ie. go long CL then QM.

Of course, you can accelerate your success by taking a larger initial position, with 10K you should be able to carry 3 contracts overnight at least once. Then 2. Then 1. Then QM.

To your success,
Cheers,
Dominique