Yeah it's amazing how people like Lilu just aren't able to comprehend that concept.

It literally broke their minds that some people play for no reason at all other than to pass the time. The stake they are playing at is not any reflection of their current net worth.

It's not like I was broke grinding on PB and then I magically had that money in my brokerage account lol.

Congrats on the gainzzzzz Spyu. Well deserved

Ok man. It’s just very bizarre, and I’m sure even if it’s all true you can see how strange it looks to someone that just opened your thread and got caught up. It looks unbelievable.

I think what he’s trying to say is that someone with a high six figure net worth presumably shouldn’t be worried about having a few hundred lying around on an app.

(Just translating, not that it’s anyone else’s business)

I disagree with this logic, if true, given that you’re playing for fun.

Not to blow your mind even more, but I've also played *gasp* for play money. And even entered free roll tournaments.

Going to get assigned on my TSLA put at $470. So might be holding that for a bit.

Hoping NFLX stays under $510 through next week so I can keep selling calls on it.

You know assuming this is real and all. Because it's quite unbelievable.

I’ve always enjoyed your thread for the A+ storytelling/fantasy angle personally.
I would be disappointed to learn that any of this is real.

Gonna have to hold TSLA for awhile. Hope the price recovers a little so I can cut some losses on my call. Would be happy to just lose 1k on it at this point.

Your journey into the live abyss got me started. Be like water!

Cheers

Hey good to hear! You still playing now?

Woah! so cool to get a response from a poker hero of mine

Absolutely I am still playing, albeit nowadays it’s PLO... luckily I was relocated for work several years ago to the NOVA area just as MDlive opened (running good).

GL with everything you do

Cheers

Wow never imagined I would ever be considered a poker hero lol. Appreciate the kind words.

Haven't been doing anything in market as of late. Just selling biweekly covered calls on NFLX and TSLA. Haven't been exercised yet. Came close on NFLX this Friday as my strike was $505. I thought the shares would get sold for sure, but the day ended around $503. So Monday I'll just sell another covered call 2 wks out.

If AAPL ever reaches a share price of $400 again I'll probably look to finally move to Texas and retire. But I'm sure that's some years away.

Going to just sit tight until after the election otherwise.

In other news my son just had his 1st birthday so that was cool.

happy belated birthday to your son man.

A tiny little Spyu running around. Cute.
Is he wandering off on his own yet?
I recall that stage being a bit scary for new accident possibilities.

He can climb pretty well, but doesn't have the confidence yet to walk around without holding onto anything. Pretty sure he will pretty soon though.

Hahahahaha that’s awesome, cool climbing wall.
My guy started walking on his 1st bday exactly.
I bet he’ll start trying more soon too.
I miss that age still sometimes, but they’re all good in different ways.

Thank you!

Hey Man very nice thread! Just wanted to ask if you have any advice for someone getting into trading( relevant books, online resources etc)? I am studying a lot right now but not really sure if what i'm looking at is highest EV I understand if you don't want to share any secrets ofc. GL !

The Intelligent Investor. Ben Felix, Rayner Teo.


Depends how much capital you have and what you're trying to do. Investment timeline, risk tolerance and things like that.
Are you trying to day trade to generate income?

For me since I have a decent amount of capital I just use it to generate steady income through selling options and collect the premium. As I collect this income I slowly convert it into buy and hold shares.

What I do is basically what is known as the wheel strategy. I just sell cash secured puts and covered calls. I always take assignment.

I don't swing trade very often. Only when I see a decent opportunity.

Right now I'm mostly wheeling Tsla and Nflx.

My buy and hold shares are mostly AAPL, with a smaller mix of QQQ and NVDA.

That's about it, nothing really magical or complicated about it other than just have patience and discipline not to go outside of the strategy and do crazy gambles.

Awesome thank you. Im actually reading The Intelligent Investor at the minute haha. My wife has some Nvidia for long hold also I'm interested in giving day trading a shot. Utimately would like to invest a chunk into dividend stocks to retire on. I'm also invested in some interesting crypto startups but that's obviously very volatile :P Options trading is very enticing for me

Good luck man, day trading is a tough gig. I think most successful ones are basically just scalpers with a lot of capital. But definitely know your entry and exit strategies and stick to your plan.

Personally I wouldn't touch crypto. I basically view them as just another version of biotech penny stocks.

I don't want to invest a whole lot of resources scouring news and looking at charts all day which is the reason I go with the strategy I have.

On avg I pull in $3k-4k a month doing what I do and I'm fine with that. I'm not trying to hit a home run with any one trade. Ideally I'd like to retire within the next 5-7yrs, but we'll see how things shake out.

Lesser of 2 evils I guess.

Pretty fat value on these TSLA calls. I love selling these.

Plz forgive my noobish question, but is this just a daytime buy and sell?

This is a Sell of a call option. So for each contract(100 shares) I'm paid $1,470.

2 outcomes possible.

If TSLA closes below $480 end of next week, nothing happens. The contract expires worthless and of course I keep that $1,470.

If TSLA closes above $480, then for each contract I have to sell 100 shares of TSLA at $480. I still keep that $1,470.

I will do nothing further on this position except let it expire and collect the money.