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nguyen74's TopStep $150,000 Trading Combine


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nguyen74's TopStep $150,000 Trading Combine

  #21 (permalink)
 scoter 
italy
 
Experience: None
Platform: ninja
Posts: 12 since Aug 2010
Thanks Given: 8
Thanks Received: 2


nguyen74 View Post
One of them does a lot of spreads on SPY and he does it while still holding a job. He trades using a few systems that he developed and back-tested over the years. He does simple calls/puts to more complex option plays. I'm not familiar with the specifics of his systems as I am not yet privileged to that information....yet.

The other guys are mostly directional traders. One of them went from some ridiculous amount (I don't remember exact but somewhere $1000-$2000) and compounded into over $1 million in a very short period of time (Again, I don't remember exact but within a month or two). He just showed me his 5-6 of his LEAPS trades that he currently has and they're 200-500%+ at this point.

I've seen one of them getting in on a trade right before the stock moves up and get out right before stock goes down. It still amazes me every time. Most of the time they get out with 20-30% only to buy back in on a pullback for another 20-30% in the same day. Every now and then they hit a home run with 100%+ but that doesn't happen often.

From what I know most of them focus only on one or two underlying stock but do make lotto plays from time to time on earnings, news, rumors, etc. Focusing on one or two particular stocks year after year has made them very aware of how that stock behaves. While they do hold longer-term plays, the bulk of their trades last a day or two.

I'm pretty confident with enough discipline, one can compound $1k to over a $1 million by following the same trades they take. That's what I plan to do...break my bankroll up into $1k each and compound each to $1mil.

thanks ,one last thing, the options that are traded in the money or out of the money?

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  #22 (permalink)
 nguyen74 
Baton Rouge, LA - USA
 
Experience: None
Platform: NinjaTrader, RTrader
Trading: Emini ES, Crude CL
Posts: 61 since Sep 2016
Thanks Given: 24
Thanks Received: 67


scoter View Post
thanks ,one last thing, the options that are traded in the money or out of the money?

So far from what I see, they've been mostly out of the money about 2 strikes away and 1-3 weeks from expiration. Many times depending on trend and outlook of the underlying, they would build positions further out and then scalp around those positions.

Today I also heard the systems guy mention something about a "straddle" and being "delta neutral" and "gamma scalping".

One guy currently has a position in AAPL 10/20 $150 calls and he's scalping AAPL 3/10 $138 calls. I'm pretty sure he is also holding AAPL LEAPS which were bought last July when AAPL was in the 90's. Those are probably 300-500%+ right now. This guy trades mainly AAPL for years and tends to get in right before AAPL takes of and get out right before AAPL pull back...amazing accuracy.

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Last Updated on March 1, 2017


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