5k in 1 day

[Bill Stacy]

Had a pretty good day yesterday. Made (after costs) a little over 5k on two trades. Last Friday I started with around 21k and made $3,500 in 4 trades (1 overnight, 1 break even and two winners). I followed that with a loss yesterday of around -$2,000 (it's not all beer and biscuits) but yesterday made a little over $5,000 on two winning (easy) trades that blind Freddy would have picked (and many did).

That's a little over $6,500 in 3 trading days.

Here's proof by way of this morning's statement...



You can do this!

[JasonH]

Thanks Bill,
Keep posting your winning trades of the day regularly for us.
These are among the most inspiring and motivational things for us want to be day traders.
Jason

[Shona]

Yes I agree... very inspiring for future day traders. Thanks Bill. I haven't felt this positive about trading possibilities for a while... love the trade of the day! Thanks too for being honest about losses. Can I ask which stock was the loser on that day?

[SergioA]

Hi Bill,

What % are you using on your trading account?

Using $20K per trade you must have a massive account in order to do "proper risk management" as a trader?

Regards
Serg

[Bill Stacy]

Hi Serg, I left "proper" alone a loooooong time ago. "Proper" doesn't work for me and to be frank, kept me in a job until I started dismissing it as an "excuse word" to be used as a reason not to take charge of my life. As soon as I started doing "whatever it took" to gain my freedom I found many of the old "guidelines or rules" just didn't apply or work for me.

The rule to which you refer (old investment rules - made up for bad traders I'm sure - suggest that traders should risk no more than 3% - or some other insanely conservative figure - of your investment capital) is applied prior to trading. That is, I do my money management outside my trading bank and only trade with (or deposit into my trading account) money I can afford to lose. When I trade I use as much power as I can. You kind of have to with my style of trading.

However, I can't see any reason why I should wait until I have $666,666 to risk just 3% of it and leave the rest in the bank when I can just save up the 20k and gain my freedom this lifetime when I can use it.

[SergioA]

Hi Bill,

Thanks for your response.

So you keep on doubling every single time with your trades, if I understand you correctly? Options is a lethal weapon one can make and one can loose it all, dont you fear this when you go into battle with the compounding ?

What do you teach if someone has 10K or 20K to begin with in terms of money management?

I have tried options for 18 months without much success and that includes long call/or long puts or credit spreads and I can tell the thing that made loose was risk management. The double or nothing approach is for dreamers only.

regards
Serg

[Bill Stacy]

The only thing I fear is losing my freedom and ending up back in hell (work) so I will always use all my power to make as much as I can as soon as I can.

Options can lose you money (I'm not sure about being deadly though) if you have no rules or trading methods or a strategy. But by far the riskiest part of options trading (and hilariously the most popular!) is holding options overnight.

The double or nothing approach is for people who are sick of being broke or who hate their jobs and believe that life is for living now and living fully...and people who know what they are doing.

What do you teach if someone has 10K or 20K to begin with in terms of money management?

I teach them how I trade. How they trade is up to them. I rarely advise people personally what to do.

The double or nothing approach is for dreamers only.

lol...I suppose it is. But thanks for calling me a dreamer as well. I'm a HUGE dreamer. I'm grateful for it and would not live any other way.

[SergioA]

The double or nothing approach is for people who are sick of being broke or who hate their jobs and believe that life is for living now and living fully...and people who know what they are doing.

"YOU WILL BURN PEOPLE WITH THIS APPROACH"...I hope you can prove me wrong Bill. Option is not an escape from every day reality. Buying options is a very difficult game. No matter how good you are as a technical trader.

Options are very RISKY even if you are a successufl trader, and know what your doing and without years of experience they will get hurt badly.

Good trading for today Bill and everone here!

Serg
P.S I would love to hear stories from new traders who are trading like yourself and how their risk measures are being taken seriously so not too loose ones shirt.

[Bill Stacy]

"YOU WILL BURN PEOPLE WITH THIS APPROACH"...

Whoa there Nelly!!! Settle down Buckeroo. I will do what?! Lol...lol...lol

Please don't make comments like that. I'm likely to get extrememly offended by the insinuation that I would do anything like that to anyone. I don't do anything to anyone. I sell education and my methods to grown adults who are well capable of making their own decisions and like every trading method; if they ignore the rules they will burn their own bank. I personally won't be doing anything to them. I think you are not giving traders any credit for being able to think for themselves.

Perhaps it might be wiser to stay away from comments like that until after you know more about my methods. I don't have to prove anyone wrong. This is what it is. I use it, people use and it makes money. I think you've been listening to a few too many failed traders and are really scared of options.

I suggest that if they scare you so much they are definitely not for you. Run a mile!

[SergioA]

No further comments regarding what I think about risk management.

I have traded options for 18 months, so I know risk management is key to ones long term survival in the markets regardless what time frame you trade. 5 / 10 miniutes or whatever time frame, short term trades (either via bear call/bull put credit spreads) or 3-14 days or even long term using leaps.

For me personally in order to teach how to trade, money management is the most important element in any type of trading.

Is that the case for yourself? If not what is?

I'll be carefull not to point any gun at you! Its not my intention.

Regards
Sergio

[Louise Driver]

I believe that Bill's style does have money management rules. And yes, Sergio, money management is "one" of the Keys to successful trading. Been there, done that, been burnt and now I am finally making back all my lost money in lessons.

And as you would know after being an experienced options trader of 18 months, loss of money through lack of money management is an individuals responsibility of not following a plan. I don't know of any teacher out there who doesn't teach some sort of money management, be it the traditional type or otherwise. But that doesn't mean all people follow those rules.

In my opinion Bill's falls under otherwise.
Though his style is to place the full bank on a trade for powering up options, the management side is contained by the stop losses used and not holding overnight. Should any trader not follow their stop losses or hold over night with options, they risk losing a large chunk to all their bank. So as like ANY system out there, it comes back to
FOLLOW THE RULES
I learnt the expensive way and only now am I looking at this style.
This style requires great discipline. If you have that...welcome to freedom.

Lou

[Bill Stacy]

@ Lousie. Thanks.

@ Serg. Lol, that's ok 'm used to it but others might be making the wrong assumptions as well so I need to set the record straight at every opportunity.

Actually I don't think that money management is the most important element. I think profit is the most important element. Make much more than you need and if you have a loss or two it won't matter so much. Money management means "make more than you lose" (in my mind anyway). But if I was to use the generally used form of the term I would again suggest that you do all your managing outside of the trading bank you're going to use for this extreme style of trading. If you can't afford to lose the money you are trading with you have either accepted the risks or should wait until you make some free money somewhere (internet income?) and use that.

I can only deal with the money that you have allocated to this method of trading. However if you demand a massive increase in cashflow you have to either use insane amounts of money or take elevated risks. If you want to risk massive amounts of money than I suggest share trading. You'll make bugger all but you'll lose bugger all as well. Or, if you want to really see how much financial muscle you have you can try my method with some throw away money and let it build into a powerful money trading engine capable of generating large amounts of money at will or as the opportunities arise.

[Ray Chensee]

Hi Serg. Bill sets out entry and exit rules and signals and as stated one of his exit rules is a maximum of 15% loss. I am relatively new to trading options and have never traded options before joining Bill. I did a trade a few weeks ago .I decided at the last minute not to buy when the first entry point came up but went on the next one .My return was 12%, It would have been over 20% if I went in on Bill's first entry point. I do not know of anyone who has lost 100% of their trading bank in one day. Once you have done Bills course and have access to the trading room you will meet a great bunch of people who are only too willing to answer any questions or give their opionions. Hope this helps

[SergioA]

Hi Ray,

That's a great start! You can't go broke on winners.

Keep at it, and follow the rules you have been given. Stay diciplined and trade smart.

Stay in touch with your results.

Trade well.

Regards
Serg