He probably traded options. High risk, high profit.
I'm glad to see this thread is still alive. Not able to prove it but I'm the one that started it over a year ago. I survived the Corona market panic and am up around 105% for the year while the market only being up around 4%. If things continue I should get to my goal of one million in 5 years.
I mostly trade futures contracts, and leveraged ETFS. I do trade options, but theta gang mostly. Still, It annoys me to know that so far, I could've had so much more profit if I just bought some LEAPS on SPY or QQQ or some shit rather than doing all this other fancy shit and trying to be cute. I just can't wait until the day I don't have to suck dick at work anymore.
The key for a retard like me is leverage. Whether you get it through options, futures, leveraged ETFS, or normal margin buying. The only way for retards like us to make outsized gains is to take on extra risk and "trade" (more like invest), using as much leverage as we can possibly afford to withstand 2008 type drawdowns.
Take micro mini contracts for example. Right now one micro mini nasdaq contract has a value of around 23K. What do I mean?
I mean the nasdaq is at 11555, and for every 1 point move in the nasdaq, the micromini contract moves by 2 dollars. So for every micro mini nasdaq contact you hold, it's like you're holding the nasdaq, but 2X. But how much does it cost to open one micromini nasdaq contract? 1.5k. Yes, for every 1.5k you have a brokerage will let you act like you have 23K in the stock market. That's leverage. Currently, I'm holding 8, and I bought into gold because of Buffet. I have a feeling he's going to get cucked just like he did with airlines though. And of course with futures contracts you need to have a margin buffer to withstand drawdowns since in the micro mini nasdaq example, the 2x can movie AGAINST you as well.
If you don't have the money for futures, take 1/3 of your investable capital and buy a call option on QQQ minimum 6 months in the future. You might have to go with a pretty high strike but that's the best you can do. Then while you're waiting for that to increase in profit, sell weekly options at a higher strike against your position to reduce your cost basis. Close your long dated option after a few months, and do it all over again. This is known as a "Poor maPost too long. Click here to view the full text.