Day 9: 5K to 1 Million Trading Stocks and Crypto - Market Crash Coming?

Quick Recap:

Starting September 23rd, 2019, I embarked on the journey to turn $5000 into one million dollars by trading stocks and cryptocurrencies in a way that anybody can replicate. I am using Tastyworks as my main trading platform for stocks and options (You can sign up for your own account with my referral link)

For crypto, I am mostly using Binance and KuCoin.  You can sign up for Binance and KuCoin with my referral links as well. See the Day 1 Blog for my exact trading strategy

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Day 9 - Tuesday Oct 1st, 2019

The Institute of Supply Management's manufacturing index showed a significant drop in US manufacturing activity, revealing that the US factories are in big trouble.

This caused the market to crash down for the entire day.  The S&P 500 opened at the 2990 level and ended the day at 2940.

That is a 50 point drop in one day, which is significant. 

So does that mean a complete market meltdown is coming? 

I don't know. 

And frankly I don't care. 

Using the Iron Condor trading strategy, it really doesn't matter to me which direction the market is moving in.  I am going to make money either way.

So for tomorrow, I have the SPX trade expiring.  The SPX is still a little ways from the 2915 PUT level that I have set up.  Since I am traveling tomorrow, I will most likely close this trade in the morning and lock in profit just to be safe.

Trades Made Today:

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I added the PUT legs to the Vertical Call of SPX that I did yesterday.  This completes the Iron Condor.  Doubling my profit potential without using additional capital. 

New trade detail: Exp: Oct 9 - Stirke: 2850/2860 - 3030/3040 Premium: 1.00 from CALL leg, 1.10 from PUT leg.  Total = 2.10

Extra income from PUT leg after commission = $105

Potential ROI = 20% in 9 Days

Trade 2: RUT Iron Condor

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Trade detail: 

RUT Iron Condor - EXP: Oct 11 - Strike: 1415/1425 - 1575/1585 - Premium: 1.11

Income after commission = $105

Model Portfolio (Starting Amount = $5000): Day 9

Model Portfolio total (all calculated AFTER commissions): $5511 + 105 + 105 = $5721

Current Options Position: 4

1. SPX expires Oct 2, Oct 9
2. VXX expires Oct 25
3. UNG Call expires Nov 15
4. RUT expires Oct 11

Position Remaining: 0

Cash Position Remaining: 1

Crypto Position (I won't keep track on the Dollar value until I sell, as that fluctuate too much)

1. GTO (3649) starting value = $50
2. FTM (3649) starting value = $50

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Disclaimer:

All contents that I produce are for entertainment purposes ONLY and should NOT be construed in any way as financial or trading advice.  All trades that I will be writing about are purely theoretical and should NOT be construed as a real trade.