Im sure I’ll get like 7 sarcastic responses but hopefully one good one. Do you guys that have maintained a positive account for years years while trading options (on volatile stocks) have a process you follow religiously? Like “1. Trading a short term uptrend (within a larger timeframe uptrend) on a retest of the MA.” Or “I always create a 10% loss stop” or whatever? I highly doubt the ones that maintain an account just wing it with their smooth Limbic controlled brains .
Sincerely,
tiredofblowingupaccts
https://i.redd.it/catju4e2wbhd1.jpeg
Posted by Sea_Construction_351
36 Comments
Of course, I’m sure you’re sick of hearing sarcastic and stupid comments, as am I. It’s a shame as there are some quite talented individuals on this sub and they hide behind a comical facade when In fact, they are very successful investors and could help a lot of people make a lot of money. Now I don’t necessarily consider myself one of those people but I have been somewhat profitable in my time as a trader so I’ll do my best to help. The trick is you have to
be patient
STOP TRADING ON MARGIN ASSHOLE
Have you tried inversing sentiment?
If that didn’t work, have you tried inversing yourself?
If that doesn’t work, it might be because you know that your going to inverse yourself. So, simply inverse yourself again.
If that doesn’t work, inverse this comment.
Don’t yolo your account and if you’re trading 0dte options don’t hold them. If they go up 20% try to take some profit. Small consistent gains add up. At the beginning of the day make a plan of how much you’re willing to risk for the day and don’t chase your losses. It’s all about self control.
You need to start using stop losses and dont play earnings.
Some actual advise is be patient and utilize day trading patterns. Understand liquidity and try to limit swing trading. Although sometimes swing trade is the move. Im regarded tho so idk.
I’m not an expert and haven’t been profitable for years but I just started a few months ago and have been consistent
I can’t teach you about candles or market movement but I can give advice on how much to invest?
Limit your plays. Stop paying attention to the dudes that 300 bagged an option.
A 20% win in one day is huge!
$50 a day is 12k a year.
Set a goal for the day, if you hit move on with your day. If you miss, move on with your day
You don’t need investment advice, you need gambling counseling.
Stop chasing the moon!
Rewatch the seinfeld episode where George decides to do everything opposite of his first thought.
Don’t do round number 3?
Admit you suck at this and move on to something more reasonable?
And to be fair most day traders fail. Like 85-95%. Option trader stats are probably similiar. 70%+ of retail that trade individual stocks lose money. Most active fund managers fail to beat the S&P over extended periods of time.
Being bad at this is pretty common.
Hey man don’t give up. I decided to stop gambling a long time ago, and mostly only buy/hold or sell options. But recently I decided to hop back in and started a small trading account for fun with $200 two months ago . It’s currently at $8000 (down from $10k last week.)
I’m not going to pretend to be an expert, but the things that helped me are position sizing, stop loss targets, waiting for confirmation, and taking profits. Study charts, patterns, and trade only around strong support levels. Don’t overdo it with TA and don’t overcomplicate it with too many indicators. Don’t trade meme stocks. Large cap stocks only, or even better, stick with SPY and QQQ.
Also, it helps to have a bullish bias in general because stonks do go up. The ratio of bull/bear markets are like 9:1, so it’s just common sense to want to buy calls over puts generally. I know I’ll get a ton of bears calling me an idiot considering the past month has been a bear market, but believe it or not, I was able to grow that small account mostly off of calls, not puts.
Last thing I’d say is to completely ignore the noise, whether it’s on reddit, webull comments, or YouTube videos. Trust the charts and the TA. Also follow price action. I was able to save my ass today by offloading calls because the price action told me Nasdaq was going to drop.
If all else fails, it’s never too late to switch to buy and hold, keep 10-15% on tripled leveraged ETFs and keep holding for a decade or two.
Do the opposite? You want calls? Just buy puts.
Dont let WSB fuck up your perspective. 20% return on your money in 1 month is alot. Take it. You dont always have to shoot for 2, 3, 4+ baggers
Just send me the money instead
Make $4.91 and get it up to $666
I try to trade like I’m running my own business. Set a certain/amount of time I’ll be trading, even specific days if you want. Set how much I’m willing to spend/lose that day. What my goal earnings/profit is. A normal business does not yolo all their cash in one week, and when they notice their strategy is failing, they will change it.
Ok, serious answer. My guess by looking at that chart is that you had a few planned out trades in the beginning given the downs and ups. At some point you lost on a trade and then started chasing trying to make one big score to get back to even. Don’t do that. Size smaller, if you lose it’s fine, but you need time in the market to improve skills trading. Lose small means winning small but overtime it’ll pay off. Yoloing might work once or twice but it’s eventually going to kill this account again.
Boring, I know, but I don’t buy options, I sell them. I also short volatility when it gets high. 90% of options expire worthless so you need to nail that 10% if you’re buying. I don’t have any 1000% return days but I’ve also never blown up an account.
Buy shares
Go put money on lebron I don’t think this stock stuff is working out for you
Bet smaller, closer to the money and take profit sooner. Repeat.
Also, take a few calculated risks that aren’t correlated, longer term, as in LEAPS.
Also: unless very confident, buy time. (You’ll get more back when it fails.)
Do you have any background in macroeconomics, finance, or statistics? Or have you studied technical analysis (aka crayon theory)?
Many successful traders forget how much they know and take for granted…
word of advice: make my fries extra crispy and my double double extra cheese
Also, once you’ve set your target percentage gain (you should,) sell a call against the others at a higher but acceptable strike, same date. (I forget what that’s called.)
Just stop bro. If you keep losing with options try stocks only, or futures. Need to try something different 
$600! You could get a nice meal at a Steakhouse.
Trading isnt for everyone.
T2Kills gets it
lol get the fuck out of here bro your done
bro charge your phone
Keep buying in the large cap every time they dipped below the 200-day MA or the 50-week MA. You can have all the riches in the world; just not all at once.
You know as they say, 99% of people quit just before their big break! If you keep doing the same thing, you are sure to hit it the fourth time! Keep doing what you are doing champion!
Real talk?
Don’t panic sell. It saved my account a few times.
Don’t buy options that expire in less than 50 – 60 days. They still move and make you $. You can sell them before expiration. If the market goes against you, you have time to recoup something. (Unless it gets really bad). With options this close to expiration, 50 days out is like a play for 1 week. Theta sets in quick.
Do trade liquid assets.
Wait for entry points. I know not gambling for a day sucks because gambling is fucking awesome and I love it, but I gamble to make money. Not lose it.
And if we’re really getting for real here… start paying attention to what’s going on in the world. New war breaking out? Buy oil and gold. Consumers defaulting on maxed out credit? Puts on Consumer discretionary.
Read reports, not Zacks or Motley Fool. Try to actually give a shit about what’s happening in our country and the world. If these topics don’t interst you, maybe find a different side hustle.
Stop being greedy and take profit when it’s there. That’s my advice.
Idk if I can call myself an expert but I’ve been trading for over a decade (last 7 without a break and last 5.5 very profitable).
The thing is, you can day trade for profits but you need to accumulate many small percentage trades and together they’ll give you a huge percentage. Let’s say you make on avg daily 5%, you would have over 40k by the end of 90 trading days. So now you only need a working system to scout setups and get in to get your 5%/day.
DM me if you need more help but this is in big lines my switch from not so profitable to very profitable.
(Oh and I attached a picture of my July profit, and could add my June profit if you’d like as well. I’ve posted it already in this sub but just to confirm what I’m saying is actually based on real profits lol)
https://preview.redd.it/77m8t2v7bchd1.jpeg?width=1284&format=pjpg&auto=webp&s=bf9578be84ba4dff430ea3e943e20b04dc484bcb