#150to50k Option Challenge ($150 into $50k in 2 weeks)

Am I reading this right? Yes you are.

This isn’t possible?! Some things in life may seem impossible but if you focus and put your mind to it, it is possible!

To validate this accomplishment this was an open document to follow at the time and people who have followed turned small amounts into large amounts as well. Just ask the 4,000 followers of this document who viewed.

Being one of the first option Traders(as far as I know) to start with this specific small amount ($150) and turn it into $46,974 within 2 weeks. Was it easy? No, but I knew it was possible.

IMPORTANT MESSAGE: (ITS A MENTAL THING)

Ive noticed that when I do these challenges there are account value peaks. Or in other words Market Value resistance. Once I got to $2k getting to $5k took about 2-3 days. But once I touched $5k it became a mental imprint that I cannot lose more than 10% from here so size had to be managed accordingly. Going from $5k to $10k was the easy part. Doubling that amount to start with isn’t as easy just mentally through challenge for some reason it was. Then theres the 15k resistance this one came in about 1-2days and then I hang there  and back to 10-12k I go. Its a mental process because here I go all cash scared to drop below $10k. Then I sit back analyze everything then go back in. Once I got back to $15k then it was $17k  after that $20-$22k comes quick. Its like support and resistance(the most important thing to learn about when you start trading) you go through ups and downs before breaking highs of your account. 

 

Below you will find the step by step trades and breakdowns…also to make it simple the spreadsheet link is HERE

 

 

First Trade: Day 1. 8/24/17

 

Day 2: 8/28/17

(Closed position)

 

(Opened New Position)

 

Day 3: 8/30/17

(Sold $IBB .17-.90 @5 cons)

 

Day4: 8/31/2017

(Sold 5cons.80 from .14)

(Added two position below)

(closed some positions)

(Sold below .08-2.05) $40-$1,000

(3 NEW POSITIONS OPENED)

 

Day 5 9/1/2017

(IF THERE ISNT SALES FOR CURRENT POSITION THEN THEY ARE EXPIRED WORTHLESS)

 

Day 6 9/3/17

 

(opened new position)

Day 7 9/5/17

 

(Closed Dow calls converted to shares from being exercised)

(7 New Position Opened)

 

Day 7: 9/6/17

(Opened 3 new positions)

(Closed 1 position)

(opened 2 new positions)

(sold 1 position)

(added to ALLE)

(Opened)

Day 8: 9/7/17

(Closed out $XLE calls)

(opened new positions)

(closed last XLE)

 

(Opened 2 new positions)

Day 8: 9/8/17

(Sold IMAX for a 80% loss but rolled loss into ABBV lotto made it back and more)

(position standing)

(Opened position)

 

(closed IBB for loss)

 

(closed 3 positions on the day)

(Market value after closed positions)

 

(opened 3 new positions)

(closing Account value at close)

Day 9: 9/11/17