More than a few people have asked me how I managed to grow a $100,000 virtual account into, at one point just a week ago, over $15 million.
Well, the answer is…………I allow myself to go crazy. In other words, since there is absolutely no real risk at all, I have allowed myself to go completely and totally berserk. This appears to work, strangely enough. My biggest gains have been from ridiculous short-term plays in heavily traded options such as for the SPY or QQQ.
There are two sides to this insanity coin, however. Losses come, too. Indeed, in just a week, I’ve “lost” over $3 million, as the chart above indicates. My positions as of Friday’s close are below, and almost all the losses from come just a few monster-sized positions which expire next Friday. Like I said, this is crazy trading that no one would ever actually do, but frankly that’s a part of the psychological experiment of virtual trading. It can be eye-opening to see what you can achieve if there is absolutely no consequence to your action.
COMPLIMENTARY BONUS CONTENT: Berserk comes from Old Norse berserkr, which combines ber- (“bear“) and serkr (“shirt“). According to Norse legend, berserkrs were warriors who wore bearskin coverings and worked themselves into such frenzies during combat that they became immune to the effects of steel and fire.