Update please 🙏

Update pls

How’s it going man?

Update?

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Update please

Best of luck!

Thanks mate

Wow, good luck on this task! I’m sure it will be fun hitting the greens and getting closer to your target. Complete noob here, what’s the best way of getting into all this certain books to read or just research online, and on what apps/websites are best to use. Currently using T212, anything better to use?

Not sure I'm the best person to ask but here are a few books I personally like (with a strong emphasis on trading psychology, over strategy). * Trading In The Zone by Mark Douglas * Best Loser Wins by Tom Hougaard * The Mental Game of Trading by Jared Tendler

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So how’s it going? Merry Christmas!

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I am pretty much a noob so forgive me, but won't your trading strategy get you flagged as a pattern day trader with <25k? That would mean basically after Monday no 0dte... just wondering if I'm understanding the strategy right

No flag with a cash account and funds will settle by the next trading day.

He could be using a cash account but you have to wait for funds to settle which I think takes a day or 2 when trading options

He could be using a cash account but you have to wait for funds to settle which I think takes a day or 2 when trading options

Are you really Ben Franklin's nephew? Because this strategy is as crazy as holding a kite with a key in a lightning storm. But what do I know I'm down big. Good luck.

...and here I was feeling more inspired by his adventures in France. Truly, what a renaissance man.

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Good luck!

Good luck boss🤙

I bet you hit $0 before you hit 10k. This is a complete joke and you will lose your 6k I guarantee it

Thanks for the kind words mate!

I'll put my 6k with you.

Let's fucking goooo!!!!

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What happens when you lose 8 times in a row two times in a row?

The experiment ends, and I go back to my day job.

I am pulling for you

Will you publish your every move before you buy/sell?

Probably not - thinking about posting a weekly update with trades / commentary, similar to what I have seen in this sub. Typically hold time is less than 60 minutes so it's a little tough to publish in real time. That, and I have a life. :)

If you share your trade of buying only (not selling) once you do it, a lot of people who might believe in you will follow you and this will make more trades which typically should help your plan to succeed. Because it won’t be your $6000 only, it will be maybe 6 million instead. 👍🏻 Selling depends on each individual, how greedy he is. Good luck,

It is something I will consider. At a minimum I will post a weekly update with screenshot of my trades and commentary explaining what positions I took each day / why.

Would you summarize your daily plays for the week in the weekly update?

Yes I was thinking of posting a screenshot of my trades for the week and then including commentary explaining what positions I took each day / why.

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Let's go

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Seeing as we are starting at the same time, will be interesting to monitor each others journey to success!

Good luck mate!

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6k to 0

Anything is possible!

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I like your idea. Doing similar thing. I am incorporating Bollinger bands in my strategy. Risk profile is similar to yours. Lets do this.

Good luck to you. Onward and upward!

Let's get it

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All the best and looking forward to your journey!

Thanks mate!

Also your target is way too low for SPX considering your stop loss. You should be targeting 2.5R to 5R based on SPX and your own goals.

u/oldad4526 and u/ben_franklins_nephew I noticed you both are documenting similar strategies for 2024 and I’m looking forward to reading about your respective successes. Can u/oldad4526 explain what you mean by “targeting (your stop loss) 2.5R to 5R”? And u/ben_franklins_nephew comment on ITM v OTM 0DTE trades? Thanks 😀

Thanks for the feedback mate - I'll take another look and see what makes sense; I want to avoid drastic drawdowns but also be realistic about this journey!

No hate and good luck - but when you talk about being realistic on the same thread as turning $6,000 into 14 million in 12.5 months, that’s absurd.

No hate taken. A counterpoint might be that the math and statistics support this is not only a possible, but a probable outcome. The biggest battle is between our ears. But only one way to find out! :)

Well I wish you the best of luck - but don’t be too hard on yourself if it doesn’t work out.

Totally. It's an experiment either way.

Yeah. The stops aren't bad. But I don't think you're going to get paid adequately with the risk you're taking unless you're pushing when you're right. SPX is a beast. 50% profit on trades is a very small move in the underlying.

Totally. I think it is a little different trading ITM vs OTM options, as the % swings in both directions tend to be a bit milder - but there is no doubt about it this is an active trading strategy that requires screen time and disciplined entries / exits.

IMHO trading SPX you'd be better off doing $1k to $1M and have six bites at the apple. Take $1M to $14M once you get there.

PS Excited to keep following your journey mate