This sort of post/story isn’t new to most people in this sub, but here you go:
Started options trading approximately five years ago. I was watching my Roth, personal brokerage account, and 401k from work slowly go up. I got bored. So fucking bored. That’s kind of why we are all here, right? That and to get rich or whatever. Anyway. Ended up blowing a few options accounts (luckily didn’t touch the 401k or Roth). Made some good money along the way, but not enough. Always wanted MOAR. Still do.
After seeing my options gains slowly dwindle, and realizing that I was being too impulsive, I slowed down.
If you have a regular job that brings in income and aren’t relying on trading for your day-to-day expenses, this approach to options might help you to NOT LOSE money. If you’re looking to get rich quick and you’re unemployed – probs not for you.
- Don’t put money in your options trading account unless it’s down to zero. You’ll just end up with less money. There’s always a play, even with fifty bucks.
- Always withdraw when you can, and put it in your savings account. Play with house money. Unless you really want to full-time day trade, you don’t need that 25k in there. You might make more mistakes (I do, at least) when you feel like you’re “up.”
- If you float around the ~5 to 10k amount, only buy one or two options contracts at a time. You’ll miss out on some huge gains, but you’ll not have huge losses. And along the way, in my experience, you can net $500 + a week. It seems so small compared to the gain porn posts on here, but when you withdraw that shit – nah.
- When you DO want to make a big play – have all your day trades available.
- If you can, pull some of the amounts you transfer from your brokerage to your bank out in CASH. There is something about it that helps you to remember that, yes – it is REAL money.
- Don’t tell anyone about it.
- Enjoy the casino with less stress, and more money in day-to-day life.
Disclaimer: I only follow these rules about 50% of the time. My willpower can’t fully embrace them, especially if I’m intoxicated. But they do work.
My boring, but relatively successful way to not LOSE money.
byu/Reasonable_Mud_3470 inwallstreetbets
Posted by Reasonable_Mud_3470
12 Comments
Yeah is like make some give your kiddos some
You have to have at least 25k to day trade your options.
If you’re intoxicated? Markets open 930 to 4. If you’re tanked then you might have a bigger problem.
Let me do this for few months and see how it goes
I just 401k and chill, some in CDs, some in gambling account and experimenting
Legitimately I’m not reading your post it has way too many words. Don’t even care if you explaining the cure for cancer. You’re gonna need to learn how to cut to the chase pal.
Sir this is casino
A better approach (especially if you have a full time job) is to just sell calls and puts (like covered and cash secured, respectively). Have theta work for you and you get decent side income each month.
But this advice is not suited to this sub, but I’d choose this boring way instead. Otherwise, you need to keep doubling down on your winnings to make it big, and this is what this sub is for.
I respect it, I just 401k, HYSA and fiddle around with 1-2k worth of individual stocks for fun, I come here to watch gain porn and people ruining their lives by putting Roth accounts on EOD calls
>it is REAL money.
Is not and what compelled you to post this fucking shit here.
Sir, this is the waiting line for people aspiring to work at Wendy’s. I think you’re looking for someplace else where people are actually trying to make smart financial decisions.
No way you’re here with this shit …
>Disclaimer: I only follow these rules about 50% of the time. My willpower can’t fully embrace them, especially if I’m intoxicated. But they do work.
Okay, now I get it. Welcome home.