maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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what's your basis?

maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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Diamond hands on mine, at least until next week

stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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Diamond hands on mine, at least until next week

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At this point, if you're already down ~70%, may as well make a YOLO play for next week.

$30,000 Millionaire said:

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stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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Diamond hands on mine, at least until next week

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At this point, if you're already down ~70%, may as well make a YOLO play for next week.

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Exactly my line of thinking

I'll use BAC as a nice little loss harvest. No biggie

IrishTxAggie said:

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$30,000 Millionaire said:

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stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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Diamond hands on mine, at least until next week

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At this point, if you're already down ~70%, may as well make a YOLO play for next week.

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And this is how accounts get blown up. I speak from experience. If you've held a loser past -50%, you set yourself up for failure IMO. It's not smart trading

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TSN 7/17 calls (sad face)

Is anyone in on AMD?

Yeah at this point its a hail mary but I also do not want to take any more risk than I need to. My basis for the original statement was because I didn't know if the Fed saying interest rates won't be raising interest rates till 2022 would affect anything immediately

topher06 said:

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IrishTxAggie said:

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$30,000 Millionaire said:

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stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

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Diamond hands on mine, at least until next week

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At this point, if you're already down ~70%, may as well make a YOLO play for next week.

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And this is how accounts get blown up. I speak from experience. If you've held a loser past -50%, you set yourself up for failure IMO. It's not smart trading

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TSN 7/17 calls (sad face)

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You have time on these so I think it's OK. Correct me if I'm wrong but I think Irish was saying that adding on to a loser (already down 70% then adding a moon shot) is what kills accounts. If you bought in once TSN 7/17 it's ok to ride it for a while longer. Time has as much to do with it.

Aggies1322 said:

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Is anyone in on AMD?

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I was. Looking like I made a good move selling at 3.05. This level of good instinct is rare for me.

Still holding a bunch of shares that I bought at $10

OA said he still likes TSN calls and I believe bought some more today

YNWA_AG said:

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Still holding a bunch of shares that I bought at $10

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That's a payday for you, dang.. I hopped in some options since it's in a squeeze. I was hoping someone had a price target.

TecRecAg said:

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Aggies1322 said:

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Is anyone in on AMD?

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I was. Looking like I made a good move selling at 3.05. This level of good instinct is rare for me.

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You dont see any momentum to the upside?

I bought in the BAC 6/19 $30 at $.42 and I am not planning on buying anymore just in case something does happen. I was seeing if it was a lost caused or not but there is still a good amount of time left on these. I don't have a ridiculous amount of options placed but I am a little bit exposed

YNWA_AG said:

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Still holding a bunch of shares that I bought at $10

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So awesome, congrats

IrishTxAggie said:

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$30,000 Millionaire said:

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stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

---

Diamond hands on mine, at least until next week

---

At this point, if you're already down ~70%, may as well make a YOLO play for next week.

---

And this is how accounts get blown up. I speak from experience. If you've held a loser past -50%, you set yourself up for failure IMO. It's not smart trading

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what Irish said! I have a small options account, so I use my 3 day trades like stops. I also limit the amount of stuff I'm playing at one time.

I've been back at options for just 3 weeks and have gone from $800 to $4k!

big thank you McInnis and AgShaun for Duckingmoney, the guy knows his stuff!

So for us amateur traders... is there a good guideline we can use to determine when to get in/out of a trade? (I know this has been asked a lot, but there is never a complete answer.)

We have some posters saying there is still time on XXX, so wait it out. And some saying, if you're down over 50% cut your losses and get out. I know it's a personal decision, but a general guideline would be helpful until each of us can develop our own strategy.

Any thoughts?

Been holding those bags since 7 dollars a share!!

Aggies1322 said:

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TecRecAg said:

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Aggies1322 said:

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Is anyone in on AMD?

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I was. Looking like I made a good move selling at 3.05. This level of good instinct is rare for me.

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You dont see any momentum to the upside?

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I was purely basing it on the move I made today as it closed at $1.89. I had 6/12 56C. It absolutely could go up in the next 2 days. I'm more of a base hit vs. home run guy. $1.14 -> $3.05 was good enough for me.

This is the answer. Absolutely this. Got out of nflx myself after taking a few hundred loss. You can always make it back. Don't prostitutie your money.

What is a good % stop loss rule on unhedged short term options?

TecRecAg said:

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Aggies1322 said:

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TecRecAg said:

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Aggies1322 said:

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Is anyone in on AMD?

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I was. Looking like I made a good move selling at 3.05. This level of good instinct is rare for me.

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You dont see any momentum to the upside?

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I was purely basing it on the move I made today as it closed at $1.89. I had 6/12 56C. It absolutely could go up in the next 2 days. I'm more of a base hit vs. home run guy. $1.14 -> $3.05 was good enough for me.

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Ohh okay, I gotcha. Thanks.

AgEng06 said:

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So for us amateur traders... is there a good guideline we can use to determine when to get in/out of a trade? (I know this has been asked a lot, but there is never a complete answer.)

We have some posters saying there is still time on XXX, so wait it out. And some saying, if you're down over 50% cut your losses and get out. I know it's a personal decision, but a general guideline would be helpful until each of us can develop our own strategy.

Any thoughts?

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Exit strategies are what make the difference in winning traders and losing traders. Having targets and stops are what protect you to having small losses and letting winners run.

This isn't a pinpoint answer but your goal should be to develop rules that help you identify targets and protective stops

McInnis 03 said:

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AgEng06 said:

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So for us amateur traders... is there a good guideline we can use to determine when to get in/out of a trade? (I know this has been asked a lot, but there is never a complete answer.)

We have some posters saying there is still time on XXX, so wait it out. And some saying, if you're down over 50% cut your losses and get out. I know it's a personal decision, but a general guideline would be helpful until each of us can develop our own strategy.

Any thoughts?

---

Exit strategies are what make the difference in winning traders and losing traders. Having targets and stops are what protect you to having small losses and letting winners run.

This isn't a pinpoint answer but your goal should be to develop rules that help you identify targets and protective stops

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Absolutely, I get that.

So what are yours?

AgEng06 said:

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McInnis 03 said:

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AgEng06 said:

---

So for us amateur traders... is there a good guideline we can use to determine when to get in/out of a trade? (I know this has been asked a lot, but there is never a complete answer.)

We have some posters saying there is still time on XXX, so wait it out. And some saying, if you're down over 50% cut your losses and get out. I know it's a personal decision, but a general guideline would be helpful until each of us can develop our own strategy.

Any thoughts?

---

Exit strategies are what make the difference in winning traders and losing traders. Having targets and stops are what protect you to having small losses and letting winners run.

This isn't a pinpoint answer but your goal should be to develop rules that help you identify targets and protective stops

---

Absolutely, I get that.

So what are yours?

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You don't want mine lol. I'm still working on it. Though I'm shaping them from the book I just finished and have mentioned here a few times, "Mastering the Trade". You'll see me mention the opening gap play sometimes here in the morning (fade the gap and exit at gap fill, depending on volume pre market), 3:52 trade (I may kill this one soon, it's not logging well, fade the move that occurs from 2:30p to 2:52p, enter at 2:52, exit 3:12p), HOLP (high of the low point, reversal play, I'm playing roku on this now, enter on the daily once daily bar closes above the high point of the low bar on a 20 day down trend and trailing stop loss stays 2 bars back at the low)......etc

Each play has a different entry and exit strategy.

IrishTxAggie said:

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$30,000 Millionaire said:

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stxag8 said:

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maroon19 said:

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So if I have BAC 6/19 calls, I should probably take the L and sell them right?

---

Diamond hands on mine, at least until next week

---

At this point, if you're already down ~70%, may as well make a YOLO play for next week.

---

And this is how accounts get blown up. I speak from experience. If you've held a loser past -50%, you set yourself up for failure IMO. It's not smart trading

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I'm assuming most people here are not putting all their eggs in one basket and can live with an option expiring worthless on occasion.

speak for yourself. YOLO

Yep, I get it. I watch/read everything in this thread and will probably get Carter's book soon.

But you're kind of making my point... No one will just give a general guideline, but they will tell people when they have done wrong. How is that supposed to be used to learn?

Edit: And I'm definitely not just referring to Irish's post earlier. Please don't take it that way.

I have strategy that will make anyone a lot of money...trust me.

.......all you need to do is short the stocks I buy.

Filthy rich u will become.

McInnis 03 said:

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AgEng06 said:

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So for us amateur traders... is there a good guideline we can use to determine when to get in/out of a trade? (I know this has been asked a lot, but there is never a complete answer.)

We have some posters saying there is still time on XXX, so wait it out. And some saying, if you're down over 50% cut your losses and get out. I know it's a personal decision, but a general guideline would be helpful until each of us can develop our own strategy.

Any thoughts?

---

Exit strategies are what make the difference in winning traders and losing traders. Having targets and stops are what protect you to having small losses and letting winners run.

This isn't a pinpoint answer but your goal should be to develop rules that help you identify targets and protective stops

---

Another amateur here - that's great advice I wish I'd been reminder of earlier. I've been on a good run the past few weeks and lost big chunks of gains simply b/c I didn't put stops. Lesson learned for me.

This could be the next big one in the cloud/tech space

thirdcoast said:

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What is a good % stop loss rule on unhedged short term options?

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If it's a weekly ,I'll only give it 25% usually. For me it depends on the expiration, how much volume, and where it is at on the chart. There really isn't a single % I will use. Each trade is a different beast.