Any AFB’ers make their living as retail options traders?

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    Posted: 27 February 2012 09:30 AM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

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  • Posted: 27 February 2012 12:14 PM #1

    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    In 2004 I filed bankruptcy after my business of 17 years failed (my fault). Starting with $500 I began trading AAPL options.  I fed the kitty that year losing $2,900, and next (losing $2,500).  I made my first annual profit in 2006 ($13,000). Since 2007 options trading has been my sole source of income.

    I now teach options trading (at no charge) locally.

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
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    Posted: 27 February 2012 12:28 PM #2

    Gregg Thurman - 27 February 2012 04:14 PM
    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    In 2004 I filed bankruptcy after my business of 17 years failed (my fault). Starting with $500 I began trading AAPL options.  I fed the kitty that year losing $2,900, and next (losing $2,500).  I made my first annual profit in 2006 ($13,000). Since 2007 options trading has been my sole source of income.

    I now teach options trading (at no charge) locally.

    Ever make it to the western side of this great state of ours?

         
  • Posted: 27 February 2012 01:00 PM #3

    madmaxroi - 27 February 2012 04:28 PM
    Gregg Thurman - 27 February 2012 04:14 PM
    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    In 2004 I filed bankruptcy after my business of 17 years failed (my fault). Starting with $500 I began trading AAPL options.  I fed the kitty that year losing $2,900, and next (losing $2,500).  I made my first annual profit in 2006 ($13,000). Since 2007 options trading has been my sole source of income.

    I now teach options trading (at no charge) locally.

    Ever make it to the western side of this great state of ours?

    Not often. Do you ever make it to the eastern side of this great State of ours?

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
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    Posted: 27 February 2012 01:56 PM #4

    Gregg Thurman - 27 February 2012 04:14 PM
    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    In 2004 I filed bankruptcy after my business of 17 years failed (my fault). Starting with $500 I began trading AAPL options.  I fed the kitty that year losing $2,900, and next (losing $2,500).  I made my first annual profit in 2006 ($13,000). Since 2007 options trading has been my sole source of income.

    I now teach options trading (at no charge) locally.

    Don’t forget, you also teach in cyberspace, right here, if informally.

         
  • Posted: 27 February 2012 02:20 PM #5

    aged almost 21 raspberry ( a few days to go) , I started investing at 16 in 2007 using a Moleskine , I read lots of books on options and started paper trading with options and communs ,I began investing in 2009 th? 2nd of March buying Apple ( with my first iphone) as soon as I had 18 years :D
    Options are th? Best Investment one could have done on Apple :D :D
    I m still a Uni student but trade options :D
    I love Options and mostly use only options vs Common as you make more money :D

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    “The market can remain irrational long than you and I can remain solvent ... ” Keynes

         
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    Posted: 27 February 2012 02:24 PM #6

    Gregg Thurman - 27 February 2012 05:00 PM

    Ever make it to the western side of this great state of ours?

    Not often. Do you ever make it to the eastern side of this great State of ours?

    Most likely will be glamping (glamor camping) this summer.  If we make it to your neck of the woods, will let you know!

         
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    Posted: 27 February 2012 03:50 PM #7

    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    I make my living trading but not strictly options.

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    For those who look, a flash allows one to see farther.

         
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    Posted: 27 February 2012 07:38 PM #8

    Eric Landstrom - 27 February 2012 07:50 PM
    hydrarx - 27 February 2012 01:30 PM

    Just wondering whether anyone here makes their living from trading (working for themselves).

    I would love to hear your story, please share! Thanks smile

    I make my living trading but not strictly options.

    What are you trading other than BAC?

         
  • Posted: 27 February 2012 10:56 PM #9

    In September of 2008 I opened my TD Ameritrade account. Began trading AAPL call options during the height of the financial crisis. Spent 6 months learning the ropes and patterns of AAPL underlying while also nearly breaking even. Actually bought a few front month call options at the 78 low at one point. Tried to get a few friends and family to buy AAPL, but do they listen to me? No.

    Anyway, finally hit a home run with the QE2 AAPL rally in the fall of 2010 and January 2011. With lesson’s learned from prior 2 years and impeccable timing I actually turned $5k into $200K over the course of 5 months by being very aggressive.

    In the meantime, my business income fell by half. Cashed out half my winnings to pay bills and lost the other half during 2011, most from the black swan Japan earthquake. Refocused the business on macminicloud.net and slowly making a comeback. Given my business tends to run on auto-pilot, I spend most of my work day trading AAPL call options… or more accurately waiting for those opportune moments to making 50% in a day or two.

    Yes, I make a living trading AAPL options.

         
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    Posted: 28 February 2012 02:31 AM #10

    I started trading stocks back in 2001, and was able to make some money (roughly $30K total) by betting on AMD, NVDA and other volatile stocks (not options).  I got out of the game mostly, until late 2008/early 2009, at which point I started again with $6K.  In 2009, I managed to make about $40K, in 2010 about $60K, and in 2011 over $100K (first year of using options/spreads).  It’s February 2012, and I’ve already made $200K+, with a conservative estimate of $1M profit for the entire year.

    So, although I do have a day job, which I like very much, I could easily “live off” my trading.  For the last two years, I have made more money trading than with my actual day job, so you could say trading is my “second job”.

    However, even if my portfolio goes over 8 or even 9 figures, I will definitely keep working.  I love the learning experience, challenge and reward of building extremely high performance software, along with the team camaraderie that goes with it.

         
  • Posted: 28 February 2012 12:59 PM #11

    Since I was young, I have always been careful with my money.  I mowed lawns and had a real job at 14.  My dad bought me my first mutual fund in 6th Grade…Fidelity Contrafund(FCNTX) with $1k of my own money and became quickly hooked.  Since then I have traded mostly common stock: BAC, JPM, NKE, UMPQ, MO, PM, KFT, AAPL.  My return since 2006 has been over 50% y/y.  I made my first million by age 22 and now at 26 I am sitting on about 2.5m.  I know I can do more with what I have, but have always been told to stay away from options.  I started learning about them around the beginning of the year and I read this forum frequently, but have never posted.

    I would literally fly somewhere just to learn in person, but I only know one person IRL that does options trading.

         
  • Posted: 28 February 2012 01:01 PM #12

    StumpTown - 28 February 2012 04:59 PM

    I would literally fly somewhere just to learn in person, but I only know one person IRL that does options trading.

    I think there are AAPL specific options talks at the Apple Investor Summit in LA in March.

         
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    Posted: 28 February 2012 01:22 PM #13

    StumpTown - 28 February 2012 04:59 PM

    My return since 2006 has been over 50% y/y.  I made my first million by age 22 and now at 26 I am sitting on about 2.5m.  I know I can do more with what I have, but have always been told to stay away from options.  I started learning about them around the beginning of the year and I read this forum frequently, but have never posted.

    IMHO, not wise to trade options in million of dollars.  Continue to do what you’ve been doing is probably the best course of action.  Just to rain on your parade, average annual return of AAPL since launch of iPod in 2002 is 60+% tongue laugh.  Having said that, since you’re trading many stocks not just AAPL, you’re a pretty good trader.  OTOH, if you want to keep $2mil safe and trade the other $500k, please read the book “Option made easy by Guy Cohen” before doing anything.  Btw, above are non-advice.

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  • Posted: 28 February 2012 02:13 PM #14

    Mace - 28 February 2012 05:22 PM

    OTOH, if you want to keep $2mil safe and trade the other $500k, please read the book “Option made easy by Guy Cohen” before doing anything.  Btw, above are non-advice.

    I am actually reading it already because you recommended it on another post.  Thanks!  smile