Why Are We SO Excited?!
We did it... again.
For the second time, we made $100k in just ONE day.
I love bringing my kids into these moments with me so they can realize what's possible. When someone tells them they can't do something... they can look back and remember that anything is possible.
I'm going to walk you through step by step of my "$100k in one day" day trade experience.
Breaking Down The Trade
On Friday, September 2nd, I had placed put options on the SPY.
At this time, the SPY was getting smacked down and selling off.
By watching what was happening, I realized there was a potential of making $100k if the market could get there.
The SPY was currently at $395.54. I just needed it to fall to around $394...
After dropping for a while, there was a moment when the stocks turned bullish and it made me a little nervous.
But I knew the bears had it.
The bulls keep trying to fight, but the bears were succeeding in bringing it back down.
I had enough profit to be patient to see what can happen. I wasn't at the point where I need to urgently get out, but can wait and see.
I still want to be prepared... these seconds are costing money.
Ready To Sell
As we get closer to the $100k goal, I want to be ready to sell so we can take advantage of the momentum. A second delay could change my profit.
As soon as I saw the $100k profit in my account, I went in and set a limit order for the $8.92 price - and it got filled.
$100k in a day, complete.
Lessons Learned During A Volatile Market
The most important part of day trading is to not be greedy.
I could have waited and tried to get every cent out of that trade... or I could have lost it all.
Watch the market. Set a goal for yourself and when you hit that goal, get out.
Want to learn more about Options Trading and how you could possibly profit from day trading?
Check out our Options Explained course at Power Trades University.