Major Milestones Achieved
A little more than a month ago, John and I started this friendly competition to turn $3000 into $100,000. (original post) Today, I was able to clear two major milestones on my journey to $100K.
Milestone #1: Achieve an account value of $10,000 and remove my original $3000 investment.
Milestone #2: Double the account twice
I withdrew my $3000 investment meaning I am playing with only profits. In regards to the second milestone, reaching 100K requires doubling the account value approximately 6 times. Doubling it twice means that I am 33% through the journey. Unfortunately, with stocks and options, that journey could go backwards but achieving 2 doubles in just over a month is a positive start.
With the withdraw of funds, my account value sits just over $10K and I am holding almost $3000 of it in DE calls. The other $7000 is in cash and will be put to work as trades appear.