--- title: "Commemorating the first 1 million in my life" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/41991449.md" description: "As mentioned in a previous post, I lost 200,000 in one night by playing Tesla's weekly options, and I held onto Xiaomi, resulting in a loss of 280,000. Over two years, I continuously transferred a principal of 700,000, with the peak loss reaching 600,000 and a maximum drawdown of 85%. Now, on June 18th, after a year and a half, the total profit and loss in the account is 1.3 million. The biggest risk-taking turning point, from loss to profit, was on April 29th this year with Tesla. I opened a long position, took profit, went short, then switched back to long, took profit again, and went short again. Subsequently, I went all-in long in the final session and cleared all positions around May 12th..." datetime: "2026-06-18T11:08:32.000Z" locales: - [en](https://longbridge.com/en/topics/41991449.md) - [zh-CN](https://longbridge.com/zh-CN/topics/41991449.md) - [zh-HK](https://longbridge.com/zh-HK/topics/41991449.md) author: "[石头老弟](https://longbridge.com/en/profiles/17160603.md)" generator: "portal-rs" --- # Commemorating the first 1 million in my life I mentioned in a previous post that I lost 200k overnight playing Tesla's weekly options and held onto Xiaomi stubbornly, resulting in a loss of 280k. Over two years, I continuously transferred in 700k in principal, with peak losses reaching 600k and a maximum drawdown of 85%. Now, on June 18th, after a year and a half, the total P&L of the account is 1.3 million. The biggest risk-taking turning point, from loss to profit, was on April 29th this year with Tesla. I opened a long position, took profit and went short, then turned short back to long, took profit and went short again. Later, I went all-in long before market close and held until around May 12th when I liquidated everything. The biggest profit point afterwards was on June 5th this month. After Tesla broke below 414, I turned all long positions to short, took profit at 388, and turned back to long. Also on the 9th, after it broke below the zero axis, I went short, took profit at 385, and turned back to long. And the same long-to-short move on the 10th. It took me three months to break even from an 85% loss, and another month and a half to go from break-even to profit. To break even, I did three things: 1\. Only trade on the right side, meaning only trade in established uptrends or downtrends, and only trade when there's a signal (like quickly breaking below the 5-day moving average or the 20-day moving average without a rebound). 2\. Strictly adhere to the trading system. Maximize execution. That's why I could quickly switch from short to long, or long to short, and get on board once I decided. 3\. Maintain a good mindset and accept losses. It took me a month and a half to go from break-even to a 200% gain. I did two things: 1\. On May 28th, I liquidated 60,000 shares of Xiaomi at 28.8. This trade marked the end of a year's effort, resulting in a 280k loss upon exit. 2\. I chose options with longer expiries. On June 15th, I rolled my September options to December options. Just this one rollover operation significantly reduced the leverage on my position, saving me at least 50k in losses. I talked about my trading system in my June 2nd post. Interested friends can go take a look. Now, my short-term goal has been achieved. I said before that I would stop after making 1 million. Now, I don't know what to do. Now, standing before me are two paths. First, stop playing, withdraw the money, buy a house and a car, and secure the profits. I've already withdrawn 850k HKD, and there's still 1.2 million RMB in the account. Second. With the 1.2 million RMB in the account, can I reach the next level relying on my existing trading system and trading records? I did make money with this current system, but it was also largely due to favorable market conditions, or you could say luck played a bigger part. I want to use 1.1 million and 1.5 million in the account as boundaries. If the account falls below 1.1 million, I'll withdraw another 600k. If it breaks above 1.5 million, I'll also withdraw 500k, leaving a 1 million position to continue testing my own execution. I never imagined I could be like those legendary traders who turned 100k or 200k into hundreds of millions. Whenever I hear these stories of the greats, my heart also surges with passion. Maybe I'm just me. I haven't yet attained enlightenment, haven't fully understood the market's logic. The trading system probably still needs more refinement. If there's a chance, when I make 5 million or 10 million, I'll make another post like this. I've secured the principal. I'm now securing another 500k, and with my own savings, I'll buy a house and a car. To give myself and my family a sense of security. I'm 26 this year, graduated over four years ago, and I've had no savings, no house, no car all this time. I think since I've made so much this time, I should give back to my family who trusted me. I've always shared my actual holdings. I know many people say I love to gamble, that it all came from gambling. I've always understood that. So now I've set a rule for myself: only trade options with 6+ months to expiry, and short-term options cannot exceed 5% of the total position. I still need to keep learning. I also want to thank those who have given me advice and criticized me over these past few months.$Tesla(TSLA.US) ### Related Stocks - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md) - [TSDD.US](https://longbridge.com/en/quote/TSDD.US.md) - [TSLL.US](https://longbridge.com/en/quote/TSLL.US.md) - [TSLQ.US](https://longbridge.com/en/quote/TSLQ.US.md) - [09366.HK](https://longbridge.com/en/quote/09366.HK.md) - [07766.HK](https://longbridge.com/en/quote/07766.HK.md) - [07366.HK](https://longbridge.com/en/quote/07366.HK.md) ## Comments (69) - **谨记买入不急不急不急 · 2026-06-24T18:11:13.000Z**: That's amazing. The more daring the people, the greater the output of the land. - **ljf3011 · 2026-06-23T23:03:33.000Z**: Can I ask, when buying this kind of far-month out-of-the-money option, do you buy both call and put at the same time? A strangle strategy?The delta for far-month options is small, can the stock price volatility keep up with the decay of time value?I recently tried doing QQQ's expiration week strangl - **上海阿宝 · 2026-06-23T16:44:12.000Z**: This strategy is very high-risk, my approach is very laid-back, buy the broad market index on dips, then shut down the computer, I don't have many desires anymore.. - **石头老弟** (2026-06-23T18:15:01.000Z): Perhaps it's because your trading amount is relatively small, so you're definitely content and desire nothing more. I have more leverage. - **Longvictory扬帆** (2026-07-11T03:44:23.000Z): What counts as low? Several times after buying, it continued to fall, which really wears on your mentality. - **上海阿宝** (2026-07-11T05:34:56.000Z): What type did you buy? - **X(今年先挣一个亿) · 2026-06-23T16:26:04.000Z · 👍 1**: Do you only trade Tesla stock? I've been holding it stubbornly, with no profit, and I'm still down a few thousand dollars. - **石头老弟** (2026-06-23T18:15:42.000Z): Why hold onto Tesla so stubbornly? You can profit from both short and long positions. Even if you don't do both, you can day trade. - **X(今年先挣一个亿)** (2026-06-23T18:22:17.000Z): Thank you - **石头老弟** (2026-06-23T18:26:10.000Z): If the situation doesn't look right, run first, wait for it to stabilize before getting back in. Not necessarily to make money, but at least the win rate is high. - **ljf3011 · 2026-06-23T15:54:34.000Z**: Adoration🤩, let's learn something. - **青蚨公子 · 2026-06-23T15:26:28.000Z**: I'm doing it, Niu Fu, bro - **junadv · 2026-06-23T15:00:20.000Z · 👍 1**: This curve is really exaggerated, doesn't seem like a sustainable strategy, but making money is awesome. - **加杠杆做多中国 · 2026-06-23T14:49:18.000Z**: Xiaomi is really hard to describe in a few words. - **最大的交易陷阱是报复 · 2026-06-23T14:42:08.000Z**: I'm still down 50% this month, and I've already recovered over 100k by yesterday. Without taking profits, today saw a 40k drawdown. But my mindset won't be like before where I'd cut losses as soon as it drops. However, I'm still holding a high-cost position in my heart, and I'm not confident about i - **石头老弟** (2026-06-23T18:16:39.000Z): Losing 50% should be a good start to enlightenment; rather than being so afraid, it's better to stay in cash. - **跟时间做朋友 · 2026-06-23T14:40:47.000Z**: So much drive!! Excellent!! - **Li-Adam · 2026-06-23T14:35:12.000Z**: What identity is trading? Domestic restrictions are in place. - **知行合一924** (2026-06-23T14:49:14.000Z): I have a way. - **Li-Adam** (2026-06-23T14:49:45.000Z): Is it convenient to talk? - **Adam暴富 · 2026-06-23T14:35:09.000Z · 👍 4**: Congratulations and may you be prosperous.At its peak, I made almost a million from Xiaomi, but I didn't sell and ended up losing hundreds of thousands. Sharing my perspective as someone who's been through it: Know when to stop, preserve most of your profits. You can withdraw your principal or take - **石头老弟** (2026-06-23T18:17:28.000Z): Xiaomi, I want to buy it back again, but I'm thinking of using the Stock Connect to do it, still hesitating, really can't accept the loss. - **新手保护期lll · 2026-06-23T14:32:20.000Z · 👍 1**: Can you guide me?!! I'm really losing so much that I'm about to get emo. - **石头老弟** (2026-06-23T18:20:33.000Z): With stocks, you can only learn from others and refine your own trading system. You can't make money by just following others. I used to like following experts, but now I only follow my own path. - ***烟火声* · 2026-06-19T16:13:58.000Z**: Awesome - **武則天 · 2026-06-19T12:40:52.000Z · 👍 6**: People who can trade options are really impressive. I've been learning all along, but never had a live trading account. Starting in '24, I entered Longbridge to buy Hong Kong stocks, slowly accumulated to two hundred thousand (units) through compound interest, and in June of this year, I firmly stoo - **Jason4HK · 2026-06-19T10:52:31.000Z**: Dude, that's awesome! Doing a right-side trade on Tesla is almost like walking on a knife's edge. I don't have the skills for that myself, it's too exciting, can't sleep at night 😅 - **大头同学 · 2026-06-18T19:14:45.000Z**: What's the most you've ever lost? Check your pinned post. - **三思又三思 · 2026-06-18T17:05:38.000Z**: Bro, I wanted to ask, are they all options? - **佳影 · 2026-06-18T14:18:07.000Z**: Admiration🤩 - **CMwealth · 2026-06-18T13:44:10.000Z**: Okay; 9 look, look,, --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**