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Jimmy $2k Mirror UPDATE (8-14) – START DAY!

Folks,

Just a quick update on the $2k mirror challenge. Please email optionmillionaires@gmail.com with any questions you may have. Make sure you have read this post and the others linked on it ( https://www.optionmillionaires.com/2012/2k-portfolio-mirror-challenge-update-for-diamond-members-only/ )

The $2k account will start trading today finally!!! I spook to DITTO trade last night and all trades completed today (tuesday Aug 14th) by any jimmybob followers will be commission free. You will see a credit at the end of the month.

With that being said, I only plan on doing one trade at the most today. There is more that can go wrong then right trying this out, and one trade to start will be a good test. It will also be a very small trade, 5-10 contracts total value of $100-$200. You can see my watch list on the DITTOTRADE dashboard, but the strikes will probably be SINA $60/62.50 calls or SHLD 62.50 calls - both are for premium build into earnings and would hope to lock some in for a double before the close thursday, then hold a few as lottos.

Expect the majority of trading to happen later in the week, as thats the best time for the 10x+ baggers. Here are some answers to questions I am getting:

Q. How will you alert followers?

A. Dittotrade, then twitter, then email... then Chatroom

Q. Am I on the email list?

A. I am still working on the email list and will have a test blast sometime this week.

Q. It says share for share on my dashboard, not percent.

A. Dittotrade will only let my account be share for share due to followers. If your account is less then $2k expect trades to be a max of $200-$300.

Q. How often will you place trades?

A. To start I will be very diligent and place a max of maybe 1 trade per day, if i see something. Expect most of the trading to occur on Thursday and Fridays.

Q. I have not had my private twitter request accepted.

A. PLEASE EMAIL optionmillionaires@gmail.com right away!!!

Q. I missed a trade what do I do?

A. Nothing! You can mirror every trade, get into ones you want, or just watch. I will run this challenge as long as I can.

Q. What will you do when your capped on followers, can i still join?

A. You can still follow via twitter and email. I will have a waiting list for the ditto trade service.

Q. Is UPB or anyone else doing the service?

A. Looking into adding more accounts to follow.

 

Lets have some fun and make some money. Was very hard for me to sleep last night! Appreciate all the kind words! Please email with any questions and I will get back to you as soon as i can!

 

HAPPY TRADING!!!!

 

- Jimmy

$2k Portfolio Mirror Challenge UPDATE (FOR DIAMOND MEMBERS ONLY)

Folks,

I have been very busy making sure this goes EXTREMELY smooth for everyone. The response to participate in this mirror challenge has been overwhelming to say the least and the pressure has been building on myself every day. I apologize if there has been a delay in email responses, but please understand we will get to you as soon as possible. I just want to UPDATE you on some of the things I am working on to make sure we are up and ready to go by Wednesday the latest.

First, make sure you read my blog posts on what you needed to do: https://www.optionmillionaires.com/2012/jimmy-2k-mirror-trade-update-qa-8-4/ - This post pretty much answers any question you may have.

Second, I have setup a GOTOMEETING with DITTO trade Wednesday Morning, PLEASE MAKE SURE YOU REGISTER ASAP: Registration Web Link: https://www3.gotomeeting.com/register/353735726 (I HAVE EMAILED DITTORTRADE AS THE WEBINAR SAYS AUG 22nd, I AM SURE IT IS AUGUST 8th and will let you know when its fixed)

Third, If you are still pending in twitter and by Tues AM and you already sent an email, please send another email to option millionaires@gmail.com with your twitter handle and OM nick.

Fourth, I have been sent two lists of DITTOtrade accounts to approve: One set on friday and the other this afternoon. Those are both back in DITTOtrades hands with proper approvals. I will speak to them on Tuesday to ensure everyone who should be approved gets approved.

Here is the big point I think some folks may miss... The great thing about the DITTO trade platform is it trades off percentages. So if i make a trade worth 10% of my account, it will do the same for yours if your in the full throttle mode. If you miss a trade, it won't be as big a deal as you may think. Either way I plan on running this challenge for as long as I can. I am curious how a lo liquid options may work out with the service, but we will cross that hurdle when we get there.

Some last points, and I will say this many times over the next few days: YOU MAY OR WILL LOSE ALL YOUR MONEY TRADING OPTIONS AND FOLLOWING MY TRADES. I AM NOT A REGISTERED INVESTMENT ADVISOR! MY PAST TRADES AND EXPERIENCE MAY BE LUCK AND MAY OR WILL NOT BE REPLICATED!!! PLEASE KEEP THIS IN MIND!!!!!

Keep the emails coming with any questions!!

 

THANKS and looking forward to this challenge!!!!

 

Live! The Week Ahead For Option Traders – Host UPB

 

 

This Sunday at 10:30PM est I will be hosting a walk through of the week ahead.  We had a great earnings week this past week including a 10,000%+ move for CMG puts holders.   I covered all the major movers and potential trades last weekend and I will do the same this Sunday.  Join me at 10:30PM for an interactive look at the week ahead.  Eanrings season is in full swing.  I will go over all the major companies that are reporting earnings and how I intend to position myself for a profitable trade.  I had several great trades presented in my last event.  Don't miss this one.

This is the link for the event:

 

https://www.optionmillionaires.com/live-event-classes-jtv/

Three Out of Five Ain’t Bad

A Baseball player need only get a hit once every 3 at bats to be called a great hitter.  If a basketball player hits 50% of his shots hes doing better than almost all of his peers.  A weatherman need never be right he can just blame his forecast on the weather.  How about an out of the money options trader?

I wasn't having the best of weeks heading into the trading day yesterday.  I sat on my hands as we gapped lower and continued to sink.  I saw a few opportunities and started to get into some positions.  I bought LVS $40 calls for $.29,  I ended up exited at $.19 for a loss, I then bought the GDX $41.50 calls at $.12.  I alerted these trades in the chat room in real time.  The GDX calls I was able to get at the low of the day.  GDX rallied from that point on and I sold half at $.70.  I was able to sell the rest today at $.80.  That's $.12 into $.75.

After buying those GDX calls I looked for more opportunities.   With GDX recovering its losses I saw that FCX was lagging.  I opened up $32 FCX calls for $.29.  Once again I alerted this in the chat room in real time.  I was able to sell half those FCX calls yesterday and the rest today for a tidy profit.  They hit $1.32 from my entry of $.29.

With the big China data coming last night I entered into some BIDU $110 calls for $.40.  I ended up selling for a loss today as BIDU couldn't must much of a rally.

Later on in the day I wanted to take a trade on JPM without actually buying JPM options.  I entered into the $95 GS calls at $.38, and again posted this trade in real time in the chat room within seconds of making the trade.  Those calls traded mostly flat the rest of the day yesterday, but today they soared hitting almost $3.00!

To recap I opened and posted 5 trades in the chat room yesterday and three of them surged several 100%.

GS $95 calls at $.38 hit $2.80  that's potentially $380 into $2,800 = +$2,420

BIDU $110 calls $.40 to $.28   that's potentially $400 into $280 =  -$120

LVS $40 calls  $.29 to $.19    that's potentially $290 into $190= $-100

FCX $32 calls at $.29 hit $1.32  that's potentially $290 into $1,320= +$1,030

GDX $41.50 calls at $.12 hit $.93  that's potentially $120 into $930= +$810

Potential profit:  $4,400

 

An options trader can be wrong and yet be more profitable than any other trader, while also putting less capital at risk.