No no no Mike, I don’t believe that I can do the same. I was only using it for an example that it can be done. I’m just looking to be in the black, not turn a 5000% profit! The guy who did this wasn’t a novice by far, and even with all of his experience it would be hard to do again by any means. On his last trade he could have lost ~ 35k or something a long those lines when everyone else was jumping ship. He stayed in which was a big gamble on option expiration day so I don’t necessarily agree with everything he has done, but hell, it worked so more power to him. I probably wouldn’t have done the same.
I started to watch AMZN last night when I was searching for that next pick and picked a put that increased today by .75 and the market hasn’t even taken that ‘next’ plunge yet!
There is no comparison between “paper trading” and trading with real money. It’s apples and oranges. The difference is that with real money, you can’t just ignore a bad trade. In addition, with real money, there is a commission that gets charged for every transaction and that is constantly eating away at your account balance. Finally, with real money, you can’t convince yourself that “I would have gotten out there”. You’re either in or out and the result is real money. Also, the math works against you with real money. If you lose 50% of your trading account, then you need to gain 100% just to get back to even!
Oh absolutely. I was going to mention that it obviously isn’t the same as using your real, hard earned money and that the emotions are completely different, but I thought that went without saying. I also know about the commissions. I know I can’t convince anyone without opening an account and showing my transactions, but I’d post my short comings just as I would my winners. I really don’t have anything to prove, or lose I guess in this case. I really just need to open an account and go from there with some risk capital that I have laying around. If anything, I think you’ve just convinced me to stop playing around and get serious! Thanks Mike!
Chris
I’ll bet that makes RookieNYC feel silly - he’s a professional in this business and only up 10%
Ive avoided posting on this forum for sometime due to lack of interest in debating…There are some very smart people here and I enjoy the banter…As for my 2008 gains all I can say with a sincere amount of honesty is that I worked my butt off to make %11.7 (as of today)…When you trade a sizeable account its not as easy as trading a 10k,-30k or even 100k…I wont take the same risk using the whole boat as I will with some small option plays…But at the same time I dont enjoy high risk plays (options) using my own money…Options trde very differently than stock but the gains can be amplified,same goes for losses…But yes I will trade proshares,to me its just different…What can I say…As for using these hyped up websites and that Steven parness fool who claimed to have turned 30k into 3mill I say :bs… For every one person that has made these type of gains there are 100k others who are now on food stamps because of foolish trades…I trade in the real world with real money…If trading stock were so easy everyone would be doing it and they are not…Please be careful and watch your money because there is a pro around the corner waiting to take it from you…
I wish you all a good holiday as I’m taking the remainder of 2008 off and hitting Los Cabos with the wife for 2 months…I can be reached via PM…God Bless all and good health to all…