SPY trade challenge

SPY trade challenge.

I will be attempting to trade spy with a strategy that I found on online and see how much profit it actually yields. I will be posting updates everyday starting on Monday. :3

SPY Options Trading Strategy - Yield Consistent Profits - YouTube

Rules:

  1. Starting balance 1k
  2. Always take profit around 10 to 20%
  3. Not holding anything overnight
  4. Try to stick to the strategy as closely as possible
  5. Aim for 5 percent overall gain per day.
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Might not be the worst idea to practice this strategy for a week or two in a paper account.

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Agree; I use their indicator set on my charts and I’ve watched that video… in my experience, 10-20% is extremely lofty.

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I would edge towards the 10 more than the 20 -

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Yeah; if you look at daily options price fluctuations, you can compare them with SPY moves and see that catching 10-20% every time isn’t terribly easy to do, unless you’re timing tops and bottoms very precisely.

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Thanks for all the suggestions, I don’t mean 10% total account yield, it’s more like take profit within these boundaries type of deal. I’ve been seeing a lot of hate in TF and I get it, I guess people just really wanna see me fail :smiling_face_with_tear:

I’m only going in with 1k to test the strategy like the title said. It’s a CHALLENGE to see if the strategy works or not. So please be more gentle criticizing.

We don’t want to see you get blown out.

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I am considering doing a 50k to 1mil SPY challenge. I have been testing my scalps on a paper account tho and will continue until I am very confident in my strategy.

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I got a lot of harsh comments in TF but I am still excited to see how far the challenge can go. Thanks for the all the helpful comments, I’ve actually played a bit on a paper trading account already and it’s been pretty consistent.

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I agree that it is easy to profit off of spy, But I think the point is that it needs to be consistent while keeping the risk to bare minimum. The reason I chose 10-20 is because JB always mentions that 10 to 20 is when he usually takes profit, and seeing how you rolled your account each day with 2% was the reason that I started this challenge. I guess we will wait and see how far this challenge can go. :money_with_wings:

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Try not to take TF to heart too much, bud.
This is a good challenge, and for as long as you follow JB and others who trade SPY often, you should be green and good every week.

Might I suggest you give the title more distinction so we associate it with your tag, faster.
Good stuff and happy hunting.

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Hey bud! I like the thread but I’m going to move it out of blogs and into trading journals just to keep things tidy.

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Update Day 1

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Actually started the account with 880, that’s just how much I had in the account from a previous challenge. Day one was a success and everyone made bangers today so congrats to Valhalla! :money_with_wings:

I saw the 8 EMA and 21 EMA crossed pre market today which indicated a downward sign.
Looked for confirmation on the squeeze momentum chart and saw a tick of red as well as a couple of red candles. I grabbed a couple of put 4/27 419s and sold when it was close to support (Sold right after conq sold his :joy:)
I could of stayed in the position a bit longer and got 10% more but I wanna stay consistent and keep the risk low. I’m happy with the gains and I hope I can keep this up.

See you guys tomorrow, CHEERS!

Update Day 2

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Got in got out, quick scalp JB style

Chart wise pretty standard, held the position until I got 20 percent profit, Greed is my biggest enemy,
there is probably a lot more profit to be made but got to stay with the guidelines.

See you guys tomorrow, CHEERS!

Update Day 3

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Actually made 10 percent at first but then I over traded and stuck in a bad position. Entirely my fault, will take note and avoid these mistakes.

Update Day 4

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Quick scalp and I’m out. Gonna stick with the philosophy, learned my lesson from yesterday.

Update Day 5

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Caught call out and grabbed some calls, Sold for a solid 20 percent profit.
Week 1 now done and overall port is up 50%

Super excited and we’ll see how it goes next week.
Cheers!

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Update Day 6

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Was up to 1700 but lost 4 percent on a bad trade. Can’t complain about green though.
Cheers!

Update Day 7

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Took a L today, Didn’t cut in time, a little bit overleveraged on one of my positions. Lesson learned.

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That’s a bit tilting, I could of broke even. :smiling_face_with_tear: