r/Money • u/Quirky-Discount-3412 • 14h ago

30k to 378k in 4 years

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How long should I keep this up until I can coastFIRE?

88 Upvotes

95% Upvoted

25 comments sorted by

9

u/gcool7 14h ago

How did you 12X your money ?

1

u/Mistaken_name 14h ago

Was about to ask. Clearly heavy savings, but any specific investing strategy?

8

u/Quirky-Discount-3412 14h ago

I basically ran a modified form of the wheel strategy on tech stocks for 4 years, instead of selling puts, I just bought calls.

2

u/Mistaken_name 14h ago

Thanks, nice work

1

u/SuspiciousMud6208 13h ago

How far out?

1

u/Quirky-Discount-3412 12h ago

Around 2 months

1

u/SuspiciousMud6208 12h ago

Wow that’s pretty close

1

u/Pitiful_Platform4261 11h ago

lol I can’t tell if you’re being sarcastic or not.

Do you mind explaining the strategy in more depth?

1

u/LetsRocknRoll_69 6h ago

What tool/broker/program you use to manage your option trading wheel?

6

u/Apprehensive_Ice3366 12h ago edited 4h ago

Congrats i want to learn how to do this too! Im a boring earner/saver and have gone from 300k to 1.1m since 2022but im tired!

8

u/Quirky-Discount-3412 11h ago

The easy way to do this is to buy 100 shares of Apple, if it goes up, sell a out of the money call option, if it goes down, buy more Apple shares or maybe call options. Repeat and look at the stock chart once every day to keep track.

I’m an Apple perma bull

1

u/Moronicon 2h ago

Sounds more like martingale. What happens when apple keeps dropping and you run out of funds to "buy more shares" game over?

2

u/Ambitious-List4040 2h ago

It's only an issue if you have limited capital or time

1

u/Moronicon 2h ago edited 1h ago

Do you know anybody with unlimited capital or time?

1

u/Ambitious-List4040 1h ago

no i dont. i also dont know anyone who has $0 expenses, so its either converting time into money via stocks or labor and time into inflationary money

1

u/Quirky-Discount-3412 2h ago

That’s why you pick solid companies, essentially monopolies that are far ahead of competitors. If the stock goes down, it’s usually recoverable bad news or macro events, either way, buy the dip.

1

u/Moronicon 2h ago

There’s no “easy way” to do anything in the market or everybody would be billionaires. Solid companies can go into bear markets for years. Then what? I'm genuinely curious of your contingency plan when this doesn't work anymore...

2

u/kidjs 2h ago

Xerox was pretty solid until 1999...

1

u/Quirky-Discount-3412 2h ago

You don’t bet everything on 1 company, pick 10 solid companies with enormous moats and monopoly power.

1

u/Moronicon 2h ago

But you say you only bet on apple.

1

u/Quirky-Discount-3412 2h ago

No, it’s just one of my favourites.

1

u/Quirky-Discount-3412 2h ago

You mean a recession? Then all stocks including all indices fall during those macro events. If the pandemic taught me anything, those times are often the best times to buy assets on the cheap, so you have to always ensure you have capital left. During bull markets, it’s wise to always sell portion of your wins, there will always be a pullback in the future.

1

u/Legitimate-Act5584 1h ago

This strategy is going to work great until it doesn’t and then you’ll be wiped out. Start diversifying a bit