How to become a millionaire in 10 months – Updated
This blogging was on:
HOW TO BECOME A BILLIONAIRE IN 20 MONTHS BY TRADING STOCK OPTIONS
HOW TO BECOME A MILLIONAIRE IN 10 MONTHS BY TRADING STOCK OPTIONS
Below are the revised rules:
FIRST THE RULES:
RULE #1 – Your monthly trading cash has to earn 100% compounded for 10 months starting with $2000 in your account. You can start with lower just add on 5-10 more months starting with as little as $300.
RULE #2 – You can only buy a stock option price out of the money or below $2 if it is right next to a known positive event (Apple Mac Expo or earnings). If not then only trade in-the-money.
RULE #3 – Your stock has to be volatile enough to move $1-3 in less than 1 trading month.
RULE #4 – You can do 1-4 trades a month for the next 10 months and your 1-4 trades will equal 100% a month. As soon as you hit your 100% goal, even with 1 trade, stop trading and start researching and practicing your next trade for next month. Try to trade less than 50% of your trading cash to do 1-4 trades making 50-100% each to reach monthly increase goal.
RULE #5 – You can not add money to your account. It makes it easier to lose money and if you don’t add money you really know where you are at with you goal.
RULE #8 – You can trade any type of option, stock, ETF, or index fund in your account.
RULE #9 – Remember to extract big gains for taxes next year. (MOST IMPORTANT RULE)
RULE #10 – Greed is a killer. So if you are 200% for the month on your option I’d consider selling and getting out of your house, turning off your internet, and accept a smaller % gain next month because you are further ahead.
IF YOU HAVE BETTER RULES, SUGGESTIONS, ADDITIONS LET ME KNOW.
I’M STARTING Nov 2006, LETS SEE HOW FAR I PERSONALLY GET!
NOV 06 : +17,000 – Pulled $15,000 out to pay off second mortgage.
DEC 06 MONTH 1: $2,000 – Down @ $1,700 12/14/07
JAN 07 MONTH : $6,000 – Up @ $7986 1/12/07
FEB 07 MONTH 3: $12,000 – Up @ $39,724 2/24/07
MAR 07 MONTH 4: $24,000 – Down @ $31, 645 3/15/07
APR 07 MONTH 5: $48,000 – Down @ $20,980 4/20/07
MAY 07 MONTH 6: $96,000 – Down @ $9,786 5/21/07
JUN 07 MONTH 7: $192,000 – Down @ $5,790 6/18/07
JUL 07 MONTH 8: $384,000 – Up @ $8,625 7/24/07 Added $2,000
Crap, I just broke rule #5.
AUG 07 MONTH 9: $768,000
SEP 07 MONTH 10: $1,536,000 @ +$26,400
OCT 07 MONTH 11: @ +21,100
NOV 07 MONTH 12: @ +1,300 (actually account amount, holy shit. Yes, I got whiped out with a very very risky trade. Knowing the DJIA was falling into the fall months would of helped a bit on not buying risky out of the money Calls for NOV 07 expiration).
Updated 11/20/07 =D So here I am again starting with $1000 basically. I’ve made my monetary trading goals for 2007 and pretty much lost it all too. Hmmm….”easier said then done” they say. But if you are a great trader, keep losses to a minimum, and you are up for the challenge you might be able to pull it off. I’m not quitting. I’ve got years ahead of me. One year I WILL BE SUCCESSFUL. I can do it. I just need to trade better and more consistent.
CONTINUE FOR 10 MORE MONTHS TO BECOME A BILLIONAIRE
DO YOU HAVE WHAT IT TAKES? DO YOU LIKE THE CHALLENGE?
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This entry was posted on January 14, 2007 by Paul Awol. It was filed under 2010 successful home-based businesses for under $100 a month, how to become a millionaire, stock option trading rules, trading stock options and was tagged with home-based business success in 2010, One24 online home-based business.