Red Red Wine said:

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I have honestly learned more in the last three weeks following this thread than I have in 20 years of doing bits and bobs on books and articles. Obviously, observing, doing, win/lose in real time is a better teacher than a book.

I appreciate what you guys do on this thread.

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100% agree

BREwmaster said:

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I've obviouisly missed a good entry on it, but interesting fact on TIGR: Here's to our calls mooning!

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I'm not in this one but would love to be. Lately I've had to put the mouse in the other room to not hit buy on things.

NRD09 said:

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Wow...so say you want to do this for a living and pay yourself 100k a year. If you think you can clear 8% a month (taking a monthly paycheck), your trading account only needs to be $104,167. Guess it makes sense because 2% a week is 104% a year without compounding. But wow...

Edit to add: 401k benefits have lost all their attractiveness as an incentive for me going back to working for the Man, as i have full confidence i will be able to grow my (slowly being consolidated) current rollover 401k balances into more money than I'll ever be able to spend in retirement

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Not going to tell you what to do for a career, but include the cost of your health/medical insurance on top of that salary you calculated. Get a quote on the insurance, because it will cost a lot more than if it is company subsidized working as an employee.

If your 401K happens to be a 401K-Roth, leave it with your former company. If things don't work out on the trading career and you re-enter the workplace, hopefully the new employer has a 401K-Roth you can roll it into. The objective here is, as long as you roll 401k-Roth's from one employer to the next employer during your career, if there's enough money in that 401K-Roth at age 55, you can quit your job,...or get quit from your job, retire and pull distributions from the 401K-Roth without the 10% early withdrawal penalty and distributions are tax-free. Rule 55 - Google it.

Now, back to regularly scheduled programming.

$30,000 Millionaire said:

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If you're new, for the love of God, please read "options for dummies" or at a minimum, read this thread up to this point.

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This sounds like the book for me.

Red Red Wine said:

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I have honestly learned more in the last three weeks following this thread than I have in 20 years of doing bits and bobs on books and articles. Obviously, observing, doing, win/lose in real time is a better teacher than a book.

I appreciate what you guys do on this thread.

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I am in the same boat as you. this is fun and I have learned an incredible amount so far and this thread and the discord are great!

Keep the tips coming

Ags helping Ags

Prognightmare said:

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$30,000 Millionaire said:

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Red Red Wine said:

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Absolutely. If it is a solid pick, why not. No different than having 75% of my portfolio in AAPL, FANG, VLO, AMZN, etc. only a slightly more risky downside (just put in an exit strategy to save me from a zero result!).

But, you didn't answer what was next week's pick. I guess you have until Sunday night to answer that one though!

Thanks again!

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I always post anything I see that's a good setup. Lot of others do too. I have brought solid picks in JMIA, FUTU, SQ, PINS, V, APPS, AMZN, and CWH to the board. I'm not even close to OA's level, but we need everyone to bring their ideas here.

Next week is digestion or down in my opinion.

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I'm in the same camp here. I'm not liking the actions of the indexes at the close of the day. I'm scalping trades but I return to cash.

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Feeling the same above.

Sold all my SPY & other stocks the week of Jan 11th and went to cash (first time in my life to have a no equity position, had cash & bonds). The pullback the market gave was less than I expected so my re-entry point never came about. Re-entered SPY and others this week.

Sold Feb 5/388 Calls and I want the market to exercise me out of my position, once again, to carry cash into next week.

Holding WWR, MBIO, CLOV, AAPL, AMZN, T and will continue to carry those positions.

Somehow this thread and The amount of OA trades have gone into hyperdrive the past few weeks. Having a hard time keeping up, used to be a couple names a day and tickers flying all over the place on Twitter now.

Fat chance I ever keep up with discord too.

Mostly Foggy Recollection said:

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Write down a goal and measure it.

Wise man once told me, "what gets documented gets measured"

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Yep, you can't manage what you don't measure.

Realized. Unrealized is the 10 you want when you're a freshman, but if you don't execute, she may end up a 1 when the lights flip on after that dance.

done

NRD09 said:

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Wife has a good job/salary/ insurance and that is definitely part of the equation

Regarding the roth 401k....i had one with my last employer, and it's substantial. I was planning to roll it into an old regular roth ira that i have with td and trade that. Why would i not do that?

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I had this all typed up and sent and the computer glitched. Here goes again..

You do what you need to do; however, if you leave that substantial 401K-Roth at your old company and begin trading as a career, see how you like trading and if you are successful. If not successful and you have to re-enter the workforce, hopefully you land at a company with a 401K-Roth. Next, roll your former company 401K-Roth into your new company 401K-Roth. If you stay at your new company until age 55 and that substantial 401K-Roth has become a MEGA-substantial 401K-Roth and you want to retire - you can. You will be able to take distributions from that 401K-Roth at age 55 without an early withdrawal 10% penalty. In all other cases, you have to wait until age 59 1/2 to withdraw penalty free, unless disabled and a couple other life changing exceptions. Your distributions from that 401K-Roth are tax free.

If you roll that former company 401K-Roth into your Personal Roth, you can do NONE of what I wrote above.

ETA: https://www.thebalance.com/what-is-the-rule-of-55-2894280#:~:text=(t)%20distribution.-,The%20IRS%20Rule%20of%2055%20allows%20an%20employee%20who%20is,10%25%20penalty%20for%20early%20withdrawal. SCROLL TO TOP OF ARTICLE

FbgTxAg said:

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AW 1880 said:

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I've been watching some of the YouTube videos that have been posted. Also following other's trades as well. I thought I was ready to buy some AAPL calls today and found out I didn't have options permissions on my account.

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Prog says just lie.

So I did.

It works.

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Red Red Wine said:

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I have honestly learned more in the last three weeks following this thread than I have in 20 years of doing bits and bobs on books and articles. Obviously, observing, doing, win/lose in real time is a better teacher than a book.

I appreciate what you guys do on this thread.

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100%.

I can only learn so much through watching videos. Reading books. Trial & error. Application is the best learning I've ever done. I am so thankful for the patient folks on this thread that are miles ahead of us but so willing to help.

Edit to say that I only wish I had found this thread waaaay sooner and learned about "net free" before I sold all of my SAVA in December that had a cost basis of $6 per share.

leoj said:

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5,000,000 TexAgs investors selling calls on WWR does not a short squeeze make.