I'm very conservative with my investments. Almost all my money is invested in ETF funds across 401k, Roth IRA, HSA and 529 accounts. I also have some money on a taxable account on Wealthfront for an eventual down payment when I move out of the bay area.
With the exception of the Wealthfront account, I have no plans to touch any money on these accounts over the next 10 years.
This year I decided to conduct a more active trading experiment. I opened an account on Robinhood with $1K and the explicit goal to turn this into $25k over a couple of years.
In particular, I want to focus on trading options (calls and puts only) as I want to learn about it and this seems like a faster way to end my experiment by either reaching the $25k goal or $0.
Do you guys have any tips on growing a small account and trading call and put options?
My current portfolio includes call options on $COMS, $INFI and $RKDA and $TRCH stock.
Edit: I have no ilusion this will be easy. I just want to have a challenging goal to make it fun. :)
#trading #options
TC: 530k
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Then buy put options expiring the next day on a stock pumped by Reddit that will be instantly dumped because the company is essentially bankrupt. And then you can retire that weekend.
Majority of day traders end up losing or doing worse than the broad indexes.
However, I won't learn anything by just playing that money in the casino.