Journey To 100K Before December 2007!

[Theta2000]

Just decided to make this thread a journal - online reference for my trades. The balance in the account that will be used in this journal is $1,790.67. If trading plan pans out well, I intend to double the capital about 6-7 times using straight options, and before December 2007 rolls out.

Below are the trades called thus far:

07/23/2007 Sell To Close 8 BIOHP BIO AUG 80 Call $2.20 $1,745.02
07/12/2007 Buy To Open 8 BIOHP BIO AUG 80 Call $1.50 ($1,214.95)
06/29/2007 Sell To Close 5 EOUSS MSTR JUL 95 Put $2.40 $1,185.03
06/21/2007 Buy To Open 5 EOUSS MSTR JUL 95 Put $2.70 ($1,364.95)
06/07/2007 Sell To Close 4 PEGSQ PEG JUL 85 Put $3.60 $1,425.02
06/01/2007 Buy To Open 4 PEGSQ PEG JUL 85 Put $1.80 ($734.95)
05/21/2007 Sell To Close 2 SYHFU SPY JUN 151 Call $3.30 $645.03
05/14/2007 Buy To Open 2 SYHFU SPY JUN 151 Call $2.55 ($524.95)

Will update as soon as new trades are initiated.

 

[Hoggums]

Just decided to make this thread a journal - online reference for my trades. The balance in the account that will be used in this journal is $1,790.67. If trading plan pans out well, I intend to double the capital about 6-7 times using straight options, and before December 2007 rolls out.

Below are the trades called thus far:

07/23/2007 Sell To Close 8 BIOHP BIO AUG 80 Call $2.20 $1,745.02
07/12/2007 Buy To Open 8 BIOHP BIO AUG 80 Call $1.50 ($1,214.95)
06/29/2007 Sell To Close 5 EOUSS MSTR JUL 95 Put $2.40 $1,185.03
06/21/2007 Buy To Open 5 EOUSS MSTR JUL 95 Put $2.70 ($1,364.95)
06/07/2007 Sell To Close 4 PEGSQ PEG JUL 85 Put $3.60 $1,425.02
06/01/2007 Buy To Open 4 PEGSQ PEG JUL 85 Put $1.80 ($734.95)
05/21/2007 Sell To Close 2 SYHFU SPY JUN 151 Call $3.30 $645.03
05/14/2007 Buy To Open 2 SYHFU SPY JUN 151 Call $2.55 ($524.95)

Will update as soon as new trades are initiated.

Am I the only one with the morbid fascination of watching traders blow their accounts?

 

[Lightning McQueen]

Whatever has happened to the nice warm friendly welcome to new T2W members and their first post and what about the good luck wishes for their trading in the journal

 

[bond_trader1]

Am I the only one with the morbid fascination of watching traders blow their accounts?

This is not a very encouraging comment but then again is $1,000 - $1,000 in less than six months, realistic?

At any rate, I hope you do manage it.

Good luck.

 

[Hoggums]

Whatever has happened to the nice warm friendly welcome to new T2W members and their first post and what about the good luck wishes for their trading in the journal

In order to turn £1790 into £100K by y/e you need to be making a consistent 20% per week on average on your capital. Based on the trades that I have seen he is going to have to more than quadruple his trading activity.

Take a look at the trades - he is buying options worth $1364 with a $1800 account - risking 70% of capital on a single trade. I can't condone such reckless action and such a trading style should not be encouraged or promoted.

 

[Lord Flasheart]

hmmm I wish him good luck and look forward to seing the trades posted at the time of execution

 

[Theta2000]

Bought 10 contracts of FTI AUG 85 Put @$1.70

Stop loss: 1.20

Trade should last 3 trading days max.

Will update.

 

[Lord Flasheart]

theta did u buy them at the time of posting, not that we mistrust you of course
Good luck

 

[Theta2000]

theta did u buy them at the time of posting, not that we mistrust you of course
Good luck

Attached is the screen shot of the order when it was filled:

 

[Lord Flasheart]

Hmmm ok why didnt you post as soon as your placed the trade, please could u do that next time then we can all jump on the wagon

 

[Theta2000]

The stop loss originally set for FTI Aug 85 Put has been adjusted from 0.50 below the cost basis to 0.80; that is, I will re-evaluate ther position if premium drops to 0.90 tomorrow.

 

[Theta2000]

Hmmm ok why didnt you post as soon as your placed the trade, please could u do that next time then we can all jump on the wagon

my apologies for the delay; will make it timely next time.

 

[Theta2000]

FTI position was closed at $2.70/contract for 58.82%

Account balance: $2775.75

will update asap!

 

[Theta2000]

Bought 7 contracts of STLD Nov 45 Call @$2.57/contract

Option symbol: .RQLKI

Stop loss: will close position if stock drops to 40.90 by Friday, otherwise will hold position until thread is updated.

Note: 5 contracts was filled at $2.60/contract, while 2 contracts was filled at $2.50/contract; so cost basis is $2.57/contracts

 

[croker]

Good luck with the journal. Speaking as a reader it would be good to know why you are entering the trade - technical or otherwise.

 

[Theta2000]

I closed STLD Nov 45 Calls @ $2.80/contract for 16.67% profits.

Will update this thread next week.....

 

[Dinos]

Thetha

Welcome and good luck, I will follow your thread with interest

 

[Theta2000]

Buy To Open 6 contracts of SNDK Nov 55 Calls @ $3.60/contract.

Stop Loss: will close trade if stock drops to 53 today.

 

[Theta2000]

SNDK Nov 55 Calls position scrapped at $3.60/contract:

Loss: Commissions!

Account Balance: $2,319.57 - after some withdrawals!

 

[Theta2000]

Buy To Open 6 contracts of RIO NOV 32.5 Call @$3.10/contract

Options' symbol: .RIOKZ