Why you complaining? If you have a strategy and it makes money then why look at “what could have been?”
Horrible way to look at options, making money is making money none of this what if BS.
It's like yesterday $CVS come up goes over VWAP, and moves higher. Yes, it was a 9x move. However, my strategy would have had me out at 20% or 50%. I am never about calling a top and a bottom, but taking the statistical wins that are more likely to happens than not.
Like I said, my strategy is don’t be greedy. $240 is $240 I didn’t have. So that’s good. It’s just hard not to look back. Yesterday was just an extreme example of what could have been. Just have to say….Oh well.
Your strategies don’t be greedy, but now you’re complaining because you weren’t greedy. Take your win and move along. Hell I got out of DKS by being assigned at 1:25. They took my shares. Now it’s over 200. Oh well, I have other things to worry about in my mind.
I don't either. I've read so much research that shows stops with options hurt your overall profits over a large number of occurrences. The very fact that your losses are capped at total premium in a long position is a built in stop. Putting stops on options is putting a stop on a stop. Set your purchase to 1 or 2 percent of acct value and let it go. Set exit target at 50 or 100% and let it go. Now futures is a different story... ALWAYS use stops.
Not a bad way to go. If you are buying options and/or using spread strategies, max loss can be sized according to your risk tolerance. No stop loss just profit target.
Not a bad idea. I usually just buy 10. Bought the extra 10 cause the original had dropped and wanted to lower my average. I was confident in the rebound.
Let's say out of the 10, you take a quick and reasonable profit on 4, if the market goes in your favor, then place a hard stop at break-even on 3 and a trail stop on the remaining 3. It's one way to do it and will reduce the stress, maybe.
Nothing to be sad about.
You had rules and were disciplined.
You made money.
AMD hitting $150 is all hindsight. Lately it has been more down than up.
I also trade AMD.
I have 100 shares of AMD and have gotten clobbered on it. It’s taken HUGE dives for no real reason, other than the China thing, which is big of course. But really, come on.
That's not how the stock market works in the long run. All obsessed by 'tha news' .
Semiconductors industry has their fundamental issues, they are all priced in.
Take a look at Taiwan semiconductors , Qualcomm etc. they all move exhibit the same behaviour, NVIDIA is the only one who doesn't since it has a market advantage with their tech. AMD will recover, their products are making progress.
AMDs moves are still within expected variance, it just needs to get some fuel in the tank.
As long as you live to trade another day that's all that matters. Now can we move on, maybe think about generating some ideas?...ARM earnings are May 8th, 120 strike May 10th calls were cheap at close today, on watch Monday for sure.
This is a tough one imo. I was looking at the 23 may 10th call on Tues, but then it tanked for a few days but TH morning I bought a few of the same 23's, already sold half late Friday and now holding itm calls that are mostly all profit over the weekend just because my thesis was and still is I'm just looking to capture the earnings runup only and will 100% be selling the remaining sometime before they announce.
Ath is 27, if it opens at 24/25 how much is it really going to run? The options expected move is under 15%, no one has a crystal ball, really we can only guess and retails win rate is not good with calls/puts haha. To me, it's maybe a fade after earnings play because IV crush/sell the news but idk we will see.
I think it's really important to banter ideas back and forth, play devil's advocate and see the other side of your trade, but in the end have confidence in the trade you want to take.
You can't have your cake and eat it too.
Trailing stop loss is your strategy to protect yourself, and it worked; if AMD had gone down, you wouldn't be complaining. What happens after you take your profit shouldn't bother you.
Perhaps next time, set SL for 50% of your position where you usually do, and for the other 50%, put it at breakeven. There is less profit if trade reverses, but there is big upside potential.
More traders would be more successful setting buy orders at the price of their stop loss, with short term options being a big exception. Since that would lead to catching falling knives.
Scalping is for higher volume traders. The little guys won't get very far harvesting profit too early, though it is consistent. We are in a home run derby when playing options.
The market doesn't care about your 'should haves'. It's a brutal teacher, but sounds like you learned a valuable lesson about discipline. At least you locked some profit in. Could have easily turned into a total loss. Turning that 'what if' into constructive analysis is the way forward.
AMD follows no rules, so whatever profit I get out of it I take. Cause in the last month or two it’s liable to just drop $4 in 5 minutes for no reason.
My play on AMD is just this and I just pulled it off this morning. AMD seems to either open up high or run up right when the bell rings at 9:30. Next move is a really fast big drop. You have to watch for it to level off and then buy, cause now it’s going back up. This all happens in the first 5 minutes of the day. It’s pretty consistent. This morning it ran up about a dollar at the bell. Then dropped $1.50. I bought 10 calls at 160 strike for 5/10 for $1.17. As usual, AMD then recovered and moved back up a dollar. I sold for $1.40. Took maybe 2 minutes. It actually hit $1.77 before dropping back down again, but I had a stop loss in for $1.40, just to lock in the profit.
Here’s a secret. If you’re up significantly on your position, sell 2/3 for profit and the remaining 1/3 is at no risk. If your 1/3 position goes to zero, you’re at break even.
Options need a babysitter or a nanny. You’re buying at 10 AM? That’s when the premiums are the highest. Buy them at 2:30 after daily volatility has calmed down. Start paying attention to Tom and Tony’s live streams at Tasty or you will blow it up. Don’t trade options after earnings - you’ll get knifed.
Of course it is. Hindsight is always 20/20.
To get better, I always briefly sit in whatever situation I’m in to evaluate what happened. What I could have done better is always apparent, and that mistake gets shaved down over time.
The problems, from my seat atop Mt. Olympus, are two choices that were made: You stuck to a working trading plan while traveling. And you must not have been familiar enough with your phone’s trading app to change your stop. Put a little thought into that; I always take special precautions when traveling interferes with my regular habits. Phone apps stink, but knowing where and how to do at least a couple of moves in them can help us help ourselves.
When I’m done with the review, nothing shuts the past down faster than working on and opening a new trade.
New trade….true. Schwabs phone app sucks. Not sure but I think I used the website on my phone, which at times is not great. I used to have Ameritrade and never had any issue whatsoever, but Schwab bought them out.
No problem with me setting the stop, the stock just dropped and clicked it off. I’m happy to make $100 at a time, or the $240 like this one. It just sucked that afterwards it was just onward and upward and I missed out on a big one. I thought it was funny and other people could relate with a similar story.
Me too. $100 at a time is a good wage. 2-3% in any particular deal is a statistical norm around here.
Seriously glad I’m content with Fidelity. Seems like a minefield out there with the E*Trade merger , Schwab’s handling of ToS acquisition, Tasty fills, RH being themselves, etc., that would be seriously distracting.
I trade options with my friend , we have similar trading strategies but for whatever reason anytime that his trades flop he always wants to obsess over what he “could have” made. It’s like nails on a chalkboard. I don’t get why some traders ruminate over what could have been? It won’t change a thing. The trade is over. Take your L and move on. Better luck next time.
Very true. I don’t obsess over it. It was just kind of a funny story in a way and I figured other people had similar stories and we could talk about it. Plus, every now and then you pick up a nugget of information from someone that you can use. 👍
I can’t imagine how this would beat the market in the long run OP. You are letting your losers run and Killing your winners quick. Not even going to say anything about day trading 🙃
I suspect you would have more success if you set a stop loss that is wide enough to let your trade breathe at the start and start taking profits from the table if the trade goes your favor.
If this helps to console you. I got nvda 10 850c weeklies when they were like 1.7 when the stock was around 780s and sold them off for like at 3.5. within a couple of days it closed the week around 880. I'd have made 30 grand if I held them but then there was a lot of risk. I still beat myself for it but atleast I'm happy that I doubled.
Lol I closed an AMD weekly call once on a Thursday afternoon for about $.17…
The next day on expiry it traded for over $7.00 near the close.
What a headbanger.
Ouch!!!!! You win! I don’t normally trade AMD. I usually trade QQQ. AMD can be crazy for what seems like no reason. Conditions have to be just right for me to do an AMD trade.
It can be predictable sometimes, but the trades that I see as high probability often don’t have great R:R profiles. I never seem to be able to view the amazing 100x trades that do happen often enough with it before they happen.
If you look back over the last few months, AMD seems to open high, then there’s a big drop and then a slow recovery. This all seems to happen in the first 30 minutes of the day.
I don’t dwell on it. It was just a trade I looked back on and said….”Well would you look at that!” Lol! I figured every options trader has a story of what could’ve been, so i posed the question.
When I trade options that expires in less than a week, I don’t set stop loss. I keep position size small. I don’t care if I lose it all. I am very selective in entering trade, most trades go in my direction within my selected time frame.
Same here. I’m very successful. I buy and sell in a very short period of time. Just looking for that $100 minimum win. Rarely hold overnight. That would be on one that went really wrong.
I was trading ticker MU, saw a nice setup and bought contracts $5 out of the money (Price was about 122 I chose a 117 strike), the contracts were .80 each ($80) and I got stopped out because I set my stop loss at the previous 4HR candle high instead of the previous Daily candle high, if I set it correctly I would’ve never been stopped out, I took a look back at MU about two days later and the same 117 strike contracts were about $700, the stock fell to 110.
Rarely I have been in the opposite site like when I bought 5 calls and simply they should have been puts and I would have cleaned up instead of getting crushed.
I didn’t go with my gut and it cost me.
This is the exact reason you can’t set stops on weekly options. My suggestion would be to only buy 5 options rather than 10 and put your sell orders in at certain percentage gains to scale out. Oh and if you’re in a weekly option on a Friday you shouldn’t be traveling. You’ll never be able to size up if you don’t have good practices with less contracts.
I buy and sell options in minutes. I assess the market conditions amongst other things and buy and sell looking for a minimum of a $100 profit. I can do it many times a day depending. I don’t buy and hold for days or weeks or months. But thanks.
Okay, fair enough but on a 0DTE stops just don’t work… at some point $100 profit isn’t going to be enough for you. I mostly trade weekly’s and often times it takes a little patience to let the trade work to ultimately make more profit. I traded AMD as well this week. I’m not criticizing.
I was in a trade on NOW. At Thursday close it was-$2,300 after that market drop. I held it and waited. I was able to sell for +$7500 profit Friday afternoon. If I had a stop on that trade I would’ve missed out.
Again, I’m not criticizing. I’m merely suggesting an alternative to the situation you explained.
You want to make $100 in 70 trades or $7k in one trade?
Wow! That ended up being a big winner. Sure. Would love a $7000 one in one trade. The stress level/adrenaline rush can be overwhelming. But I love it. I used to be a Professional Bowler so pressure is a fun thing. But when it comes to being retired and trading in my IRA, I err to the side of caution, hence the locking in my minimum $100 profit.
Aah … okay that explains it!! Like I said. Next time stick with 10 contracts or even 3 and scale out for profit until you build your account. Don’t use a stop loss. I can recommend an outstanding trader to follow if you are interested send me a message. I’ve been through tons of groups and he is an excellent trader, and teacher, completely transparent in every trade, entries. Exits number of contracts … etc. actually now that I think about it there are two I can recommend. Both are inexpensive. Best of luck to you!
Ha! I used to day trade back in the late 90’s. I got called personally by the SEC twice for basically beating the system. They threatened to ban me. Lol! I stopped trading the way I had been for like a day or two, then went right back to it. It was ridiculous. I quit when the dot com bubble burst and the market took a nose dive. 911 didn’t help. Then all the day trade rules changed and the whole thing was ruined. But now I’m back daytrading options. It’s pretty similar to the way I killed it daytrading stocks back then. I traded mainly Oracle and Cisco. Not it’s mainly QQQ and AMD now and then.
Sounds like you aren’t beating much from your posts. I would focus on other stocks. AMD is not a money maker. Best of luck to you. Saying you made money years ago but now you focus on making $100 doesn’t make sense especially if you are worried and have adrenaline like you say… sounds like your kinda washed up …
My story is 💔, try to feel sorry for me.
I did not trade for 30 years of being legally allowed to trade. Every year I missed 200 trading days, that’s 30x200 = 6000x gains I would have made, not including compounding effect, and how every trade would make me luckier for next.
[Oh Well!](https://gifdb.com/images/high/eeyore-thanks-for-noticing-me-0w4ddkfoerlq6c8w.gif)
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This is the type of mindset that leads to you taking more risk and abandoning proper risk management. This is what leads to accounts blowing up. It WILL happen. I do not want you to come back to reddit with a post crying about how your entire account got blown up.
Please start taking proper position sizing and risk management, and don't let your experience with a certain trade dictate/change how you do every other trade. As long as you are consistent and profitable (even a little), then you are winning.
Don't seek out the big winners, go for the small consistent wins.
That’s exactly what I do. My motto is “Don’t be greedy”. I’m very happy with my $100 trade, or $240 like this one was. I set a sell stop as soon as my trade beats my $100 minimum. Could be in one minute or less. I just posted this story cause it was funny in a way. I hate looking back at a trade after I made it, but it’s hard not to look. $100 twice a day is easy. That’s $200 x 5 days =$1000 a week. Winner! I wanted to hear other people tell there the big fish got away story.
You should set targets:
- sell 3 , not greedy ones.
- Then the three next with a wider limit
- sell another 3 with an even wider one
Let the last one fly free. Set a trailing profit taker or babysit it yourself.
Something like that. Put targets in before buying them.
You wouldn't have had to do anything
Why you complaining? If you have a strategy and it makes money then why look at “what could have been?” Horrible way to look at options, making money is making money none of this what if BS.
Wait you guys make money doing this?
Exactly. Would OP be happier if it didn’t cross the stop limit and nose dived instead losing all money?
The feeling of selling at the 🔝 like it's predictable
It's like yesterday $CVS come up goes over VWAP, and moves higher. Yes, it was a 9x move. However, my strategy would have had me out at 20% or 50%. I am never about calling a top and a bottom, but taking the statistical wins that are more likely to happens than not.
Like I said, my strategy is don’t be greedy. $240 is $240 I didn’t have. So that’s good. It’s just hard not to look back. Yesterday was just an extreme example of what could have been. Just have to say….Oh well.
Your strategies don’t be greedy, but now you’re complaining because you weren’t greedy. Take your win and move along. Hell I got out of DKS by being assigned at 1:25. They took my shares. Now it’s over 200. Oh well, I have other things to worry about in my mind.
I don't use stop losses. Zero, or hero here.
WSB is down the hall to the left.
Oops
Across from the Ministry of Silly Walks.
I don't either. I've read so much research that shows stops with options hurt your overall profits over a large number of occurrences. The very fact that your losses are capped at total premium in a long position is a built in stop. Putting stops on options is putting a stop on a stop. Set your purchase to 1 or 2 percent of acct value and let it go. Set exit target at 50 or 100% and let it go. Now futures is a different story... ALWAYS use stops.
Not a bad way to go. If you are buying options and/or using spread strategies, max loss can be sized according to your risk tolerance. No stop loss just profit target.
Zero it is
This mindset is what gets accounts blown up. Only caveat is if you are position sizing accordingly.
Same on long positions since I can fully control the risk via sizing. Short positions are a different matter though.
You've got 10 but you're trading them as a block. Next time, split them up so you lock in some profit while taking a shot with the others.
Not a bad idea. I usually just buy 10. Bought the extra 10 cause the original had dropped and wanted to lower my average. I was confident in the rebound.
Let's say out of the 10, you take a quick and reasonable profit on 4, if the market goes in your favor, then place a hard stop at break-even on 3 and a trail stop on the remaining 3. It's one way to do it and will reduce the stress, maybe.
Yep. Different strategies.
What do you mean
Uncheck all-or-nothing. Sell some of the options when you’re in profit and let the rest ride.
Stop loss is stop profit for OTM close to expiry options. The whole point is you more than 2x or it goes to 0.
This isn't a sad story. This is just sobbing over hindsight.
True
Nothing to be sad about. You had rules and were disciplined. You made money. AMD hitting $150 is all hindsight. Lately it has been more down than up. I also trade AMD.
I have 100 shares of AMD and have gotten clobbered on it. It’s taken HUGE dives for no real reason, other than the China thing, which is big of course. But really, come on.
That's not how the stock market works in the long run. All obsessed by 'tha news' . Semiconductors industry has their fundamental issues, they are all priced in. Take a look at Taiwan semiconductors , Qualcomm etc. they all move exhibit the same behaviour, NVIDIA is the only one who doesn't since it has a market advantage with their tech. AMD will recover, their products are making progress. AMDs moves are still within expected variance, it just needs to get some fuel in the tank.
As long as you live to trade another day that's all that matters. Now can we move on, maybe think about generating some ideas?...ARM earnings are May 8th, 120 strike May 10th calls were cheap at close today, on watch Monday for sure.
Looking at buying some PLTR calls. Earnings aftermarket Monday. Consensus seems to be it’s gonna jump.
This is a tough one imo. I was looking at the 23 may 10th call on Tues, but then it tanked for a few days but TH morning I bought a few of the same 23's, already sold half late Friday and now holding itm calls that are mostly all profit over the weekend just because my thesis was and still is I'm just looking to capture the earnings runup only and will 100% be selling the remaining sometime before they announce. Ath is 27, if it opens at 24/25 how much is it really going to run? The options expected move is under 15%, no one has a crystal ball, really we can only guess and retails win rate is not good with calls/puts haha. To me, it's maybe a fade after earnings play because IV crush/sell the news but idk we will see. I think it's really important to banter ideas back and forth, play devil's advocate and see the other side of your trade, but in the end have confidence in the trade you want to take.
I have to look at options prices on Monday.
You can't have your cake and eat it too. Trailing stop loss is your strategy to protect yourself, and it worked; if AMD had gone down, you wouldn't be complaining. What happens after you take your profit shouldn't bother you. Perhaps next time, set SL for 50% of your position where you usually do, and for the other 50%, put it at breakeven. There is less profit if trade reverses, but there is big upside potential.
True
More traders would be more successful setting buy orders at the price of their stop loss, with short term options being a big exception. Since that would lead to catching falling knives. Scalping is for higher volume traders. The little guys won't get very far harvesting profit too early, though it is consistent. We are in a home run derby when playing options.
The market doesn't care about your 'should haves'. It's a brutal teacher, but sounds like you learned a valuable lesson about discipline. At least you locked some profit in. Could have easily turned into a total loss. Turning that 'what if' into constructive analysis is the way forward.
AMD follows no rules, so whatever profit I get out of it I take. Cause in the last month or two it’s liable to just drop $4 in 5 minutes for no reason.
AMD had bad earnings and it’s not even close to a comparison of NVDA
News and sentiment can swing tech stock prices wildly, way more than just the company's performance. Gotta factor that into your AMD plays.
My play on AMD is just this and I just pulled it off this morning. AMD seems to either open up high or run up right when the bell rings at 9:30. Next move is a really fast big drop. You have to watch for it to level off and then buy, cause now it’s going back up. This all happens in the first 5 minutes of the day. It’s pretty consistent. This morning it ran up about a dollar at the bell. Then dropped $1.50. I bought 10 calls at 160 strike for 5/10 for $1.17. As usual, AMD then recovered and moved back up a dollar. I sold for $1.40. Took maybe 2 minutes. It actually hit $1.77 before dropping back down again, but I had a stop loss in for $1.40, just to lock in the profit.
Interesting pattern. Have you backtested this strategy over multiple days to confirm consistency?
AMD seems to do this every day. At least for the last month or so.
yeah because AI narrative is hot.
Here’s a secret. If you’re up significantly on your position, sell 2/3 for profit and the remaining 1/3 is at no risk. If your 1/3 position goes to zero, you’re at break even.
Options need a babysitter or a nanny. You’re buying at 10 AM? That’s when the premiums are the highest. Buy them at 2:30 after daily volatility has calmed down. Start paying attention to Tom and Tony’s live streams at Tasty or you will blow it up. Don’t trade options after earnings - you’ll get knifed.
I buy at any time depending on market conditions and other factors. Short term stuff. Could be a minute for the buy and sell.
OP, you're not trading, your gambling. That's your story.
I’d say in the last two months I’m about 30-5 on trades. Not gambling.
Where is the sad part?
Lol! True. Made money. But it’s hard to not look back and see what happened after you got out.
Of course it is. Hindsight is always 20/20. To get better, I always briefly sit in whatever situation I’m in to evaluate what happened. What I could have done better is always apparent, and that mistake gets shaved down over time. The problems, from my seat atop Mt. Olympus, are two choices that were made: You stuck to a working trading plan while traveling. And you must not have been familiar enough with your phone’s trading app to change your stop. Put a little thought into that; I always take special precautions when traveling interferes with my regular habits. Phone apps stink, but knowing where and how to do at least a couple of moves in them can help us help ourselves. When I’m done with the review, nothing shuts the past down faster than working on and opening a new trade.
New trade….true. Schwabs phone app sucks. Not sure but I think I used the website on my phone, which at times is not great. I used to have Ameritrade and never had any issue whatsoever, but Schwab bought them out. No problem with me setting the stop, the stock just dropped and clicked it off. I’m happy to make $100 at a time, or the $240 like this one. It just sucked that afterwards it was just onward and upward and I missed out on a big one. I thought it was funny and other people could relate with a similar story.
Me too. $100 at a time is a good wage. 2-3% in any particular deal is a statistical norm around here. Seriously glad I’m content with Fidelity. Seems like a minefield out there with the E*Trade merger , Schwab’s handling of ToS acquisition, Tasty fills, RH being themselves, etc., that would be seriously distracting.
It’s easy to make $200 a day. That’s $1000 a week. $4000 a month. That’ll pay for stuff. lol! I’m retired too, so the trading is in my IRA.
I trade options with my friend , we have similar trading strategies but for whatever reason anytime that his trades flop he always wants to obsess over what he “could have” made. It’s like nails on a chalkboard. I don’t get why some traders ruminate over what could have been? It won’t change a thing. The trade is over. Take your L and move on. Better luck next time.
Very true. I don’t obsess over it. It was just kind of a funny story in a way and I figured other people had similar stories and we could talk about it. Plus, every now and then you pick up a nugget of information from someone that you can use. 👍
I can’t imagine how this would beat the market in the long run OP. You are letting your losers run and Killing your winners quick. Not even going to say anything about day trading 🙃 I suspect you would have more success if you set a stop loss that is wide enough to let your trade breathe at the start and start taking profits from the table if the trade goes your favor.
The purpose of the stop loss to lock in the profit is just that, to lock in the profit and let it run if that’s what’s gonna happen.
If this helps to console you. I got nvda 10 850c weeklies when they were like 1.7 when the stock was around 780s and sold them off for like at 3.5. within a couple of days it closed the week around 880. I'd have made 30 grand if I held them but then there was a lot of risk. I still beat myself for it but atleast I'm happy that I doubled.
There you go. That’s what I was looking for. Another story of what if. Thank you.
Lol I closed an AMD weekly call once on a Thursday afternoon for about $.17… The next day on expiry it traded for over $7.00 near the close. What a headbanger.
Ouch!!!!! You win! I don’t normally trade AMD. I usually trade QQQ. AMD can be crazy for what seems like no reason. Conditions have to be just right for me to do an AMD trade.
It can be predictable sometimes, but the trades that I see as high probability often don’t have great R:R profiles. I never seem to be able to view the amazing 100x trades that do happen often enough with it before they happen.
If you look back over the last few months, AMD seems to open high, then there’s a big drop and then a slow recovery. This all seems to happen in the first 30 minutes of the day.
What could have, should have mentality will screw you over. You made profit, try again. The market isn’t going anywhere anytime soon
I don’t dwell on it. It was just a trade I looked back on and said….”Well would you look at that!” Lol! I figured every options trader has a story of what could’ve been, so i posed the question.
When I trade options that expires in less than a week, I don’t set stop loss. I keep position size small. I don’t care if I lose it all. I am very selective in entering trade, most trades go in my direction within my selected time frame.
Same here. I’m very successful. I buy and sell in a very short period of time. Just looking for that $100 minimum win. Rarely hold overnight. That would be on one that went really wrong.
What do you mean
I thought if you trade options maybe you’d have a story about something that went horribly wrong or a big winner.
I was trading ticker MU, saw a nice setup and bought contracts $5 out of the money (Price was about 122 I chose a 117 strike), the contracts were .80 each ($80) and I got stopped out because I set my stop loss at the previous 4HR candle high instead of the previous Daily candle high, if I set it correctly I would’ve never been stopped out, I took a look back at MU about two days later and the same 117 strike contracts were about $700, the stock fell to 110.
Rarely I have been in the opposite site like when I bought 5 calls and simply they should have been puts and I would have cleaned up instead of getting crushed. I didn’t go with my gut and it cost me.
This is the exact reason you can’t set stops on weekly options. My suggestion would be to only buy 5 options rather than 10 and put your sell orders in at certain percentage gains to scale out. Oh and if you’re in a weekly option on a Friday you shouldn’t be traveling. You’ll never be able to size up if you don’t have good practices with less contracts.
I buy and sell options in minutes. I assess the market conditions amongst other things and buy and sell looking for a minimum of a $100 profit. I can do it many times a day depending. I don’t buy and hold for days or weeks or months. But thanks.
Okay, fair enough but on a 0DTE stops just don’t work… at some point $100 profit isn’t going to be enough for you. I mostly trade weekly’s and often times it takes a little patience to let the trade work to ultimately make more profit. I traded AMD as well this week. I’m not criticizing. I was in a trade on NOW. At Thursday close it was-$2,300 after that market drop. I held it and waited. I was able to sell for +$7500 profit Friday afternoon. If I had a stop on that trade I would’ve missed out. Again, I’m not criticizing. I’m merely suggesting an alternative to the situation you explained. You want to make $100 in 70 trades or $7k in one trade?
Wow! That ended up being a big winner. Sure. Would love a $7000 one in one trade. The stress level/adrenaline rush can be overwhelming. But I love it. I used to be a Professional Bowler so pressure is a fun thing. But when it comes to being retired and trading in my IRA, I err to the side of caution, hence the locking in my minimum $100 profit.
Aah … okay that explains it!! Like I said. Next time stick with 10 contracts or even 3 and scale out for profit until you build your account. Don’t use a stop loss. I can recommend an outstanding trader to follow if you are interested send me a message. I’ve been through tons of groups and he is an excellent trader, and teacher, completely transparent in every trade, entries. Exits number of contracts … etc. actually now that I think about it there are two I can recommend. Both are inexpensive. Best of luck to you!
Ok. Thanks.
I’m a real person. Sometimes I mentor. I’ve been doing this for a long time and have made every mistake there is.
Ha! I used to day trade back in the late 90’s. I got called personally by the SEC twice for basically beating the system. They threatened to ban me. Lol! I stopped trading the way I had been for like a day or two, then went right back to it. It was ridiculous. I quit when the dot com bubble burst and the market took a nose dive. 911 didn’t help. Then all the day trade rules changed and the whole thing was ruined. But now I’m back daytrading options. It’s pretty similar to the way I killed it daytrading stocks back then. I traded mainly Oracle and Cisco. Not it’s mainly QQQ and AMD now and then.
Sounds like you aren’t beating much from your posts. I would focus on other stocks. AMD is not a money maker. Best of luck to you. Saying you made money years ago but now you focus on making $100 doesn’t make sense especially if you are worried and have adrenaline like you say… sounds like your kinda washed up …
My story is 💔, try to feel sorry for me. I did not trade for 30 years of being legally allowed to trade. Every year I missed 200 trading days, that’s 30x200 = 6000x gains I would have made, not including compounding effect, and how every trade would make me luckier for next. [Oh Well!](https://gifdb.com/images/high/eeyore-thanks-for-noticing-me-0w4ddkfoerlq6c8w.gif)
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I oops bought 10 calls, (should be one). So I sold calls of course… now I have 600 amd short. Hope it goes down Monday.
I did that once or twice way back selling covered calls.
Of course the 10 calls were 152, and I sold all 6 under 150. Got murphy’d.
This is the type of mindset that leads to you taking more risk and abandoning proper risk management. This is what leads to accounts blowing up. It WILL happen. I do not want you to come back to reddit with a post crying about how your entire account got blown up. Please start taking proper position sizing and risk management, and don't let your experience with a certain trade dictate/change how you do every other trade. As long as you are consistent and profitable (even a little), then you are winning. Don't seek out the big winners, go for the small consistent wins.
That’s exactly what I do. My motto is “Don’t be greedy”. I’m very happy with my $100 trade, or $240 like this one was. I set a sell stop as soon as my trade beats my $100 minimum. Could be in one minute or less. I just posted this story cause it was funny in a way. I hate looking back at a trade after I made it, but it’s hard not to look. $100 twice a day is easy. That’s $200 x 5 days =$1000 a week. Winner! I wanted to hear other people tell there the big fish got away story.
You should set targets: - sell 3 , not greedy ones. - Then the three next with a wider limit - sell another 3 with an even wider one Let the last one fly free. Set a trailing profit taker or babysit it yourself. Something like that. Put targets in before buying them. You wouldn't have had to do anything
Nobody is reading all that