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$30,000 Millionaire
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Taking a couple XSP 396C on this dip. Entry 0.74

Stop at 0.45
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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Letting sit for a few minutes. Low volume algo dump
You don’t trade for money, you trade for freedom.
WestTexAg12
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Had +75% on NFLX and SPY calls right before this also dump. Shoulda taken it.
SF2004
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FJ back charting last night and $30K shows up today.

I'm all in!
BlueTaze
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What's the latest sentiment here on WWR?

The chart is wedging, also looks to have found some support. I just can't get over Chris Jones bailing at this stage, wish I knew more about that "retirement", and also that of the CFO.

They promised that plant would be operational late 2022, and are now delivering a 2023 Q2 plant construction completion. So no telling when that processing will actually begin.

I might buy some leaps over next couple months. Hopefully a red wave in Nov will give this play some momentum, otherwise the WWR CEO needs to fork over 10% to big guy for some subsidy cash.
Jet Black
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sts7049
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i'm done with WWR options until it shows some life again.
cryption
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I have too many shares of WWR, I'd play puts as a hedge before buying calls or LEAPS - but there's not much premium there and no where to go but 0
Charismatic Megafauna
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Today i learned that aston martin makes a model called the valhalla. Next thing i know you guys are talking about wwr. Coincidence?
Spoony Love
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Nobody going to request rally girls?
Charismatic Megafauna
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I think they're all dancing on TTD's table this week
topher06
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WWR all time chart looks like they've just diluted over and over for a decade like they're a small pharma player.
Diggity
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luckily for them, they had us to scoop up their piles of crap
$30,000 Millionaire
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Odd close. Got profit on some stock longs I had, so happy with it.

Let's see what happens with Tesla! Like Ragoo, I'm here today for Tesla.
You don’t trade for money, you trade for freedom.
Charismatic Megafauna
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Low key 28% day for wtrh
Brian Earl Spilner
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Hit one more UPRO sell limit at $40. +10.3% on 25 shares for $94.

Still sitting on about $17k worth of TQQQ/UPRO at a combined -$1030, ~ -5.7%. (These are my highest cost shares.)

Weighing whether or not to cut losses on these or just ride it out in case the rally continues.

Sitting on $68k cash across both accounts with a whole bunch of buy orders set, but thinking I may want to adjust them up a bit in case we really did create a bottom this time.
$30,000 Millionaire
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Brian Earl Spilner said:

Hit one more UPRO sell limit at $40. +10.3% on 25 shares for $94.

Still sitting on about $17k worth of TQQQ/UPRO at a combined -$1030, ~ -5.7%. (These are my highest cost shares.)

Weighing whether or not to cut losses on these or just ride it out in case the rally continues.

Sitting on $68k cash across both accounts with a whole bunch of buy orders set, but thinking I may want to adjust them up a bit in case we really did create a bottom this time.
First off, great work.

Second, unrealized loss and realized loss are the same thing. My thought process is that we have moved 250 points in 5 trading days and we got rejected at gap resistance today. If I were in this I would have a stop at $39.

Edit: the risk/reward favors the downside here in my opinion. Can we continue? Yes, is it the most probably scenario without cooling off, I don't think so.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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Remember that there are a whole lot of people who are now bullish. We have clearly reversed to the upside, but we can reverse again.
You don’t trade for money, you trade for freedom.
irish pete ag06
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Ok... here to admit to you all what I did.


I feel like a relapsed addict of some sort showing up to admit it to my sponsor or something.

I tried a new strategy yesterday... I had a whole day near a computer. I was going to try and leave a runner contract. I usually buy 3-4 contracts... scaled in and scaled out. I never leave runners. To be TLR here... I ended up averaging down on puts (yeah... I know) to the tune of 17 contracts thinking I just needed a 6% gain to sell the other 16 to leave a runner (which would have obviously gone to zero or near it now). The trade actually was in the green on 3 separate occasions but I kept holding to get that 6% and leave a runner. The last time the trade flipped green it missed it by 1 cent. and then it immediately turned against me.

I should have cut it right then for a 10% loss or whatever it was, but I FOMO froze. What if it comes back... and I did.... nothing. The FOMO freeze is always caused by a position size too large.

And I still have them and my account is down about 50% again. So all that 13 days of work was erased (basically lost double my gains) because of all kinds of horrific decisions including:

1. Using a new, unfamiliar strategy
2. FOMO
3. Probably most important (position size way too damn big).


Once again, I'm fortunate that this is not life changing money I am learning how to trade with, but this sucks. I had a strategy of small base hits adding up and it was working. Scalping was building the account.

I should have just danced with the one that brung me.

I will continue to trade a plankton sized account. I had told myself I was going to double my account size once I hit 100% gains... I was a little over halfway there before this debacle.

I plan to stick to scalping from now on.

Thanks for listening to the ramblings of a relapsed idiot.

Edit to add, I don't have a legit P&L screen shot because I put more money into the account and it jacked with the P&L percentages.

$30,000 Millionaire
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sts7049 said:

i'm done with WWR options until it shows some life again.
You can't really trade options in the accumulation phase, which WWR is now in.

If you believe in the thesis, this is when you hold and wait.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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irish pete ag06 said:

Ok... here to admit to you all what I did.


I feel like a relapsed addict of some sort showing up to admit it to my sponsor or something.

I tried a new strategy yesterday... I had a whole day near a computer. I was going to try and leave a runner contract. I usually buy 3-4 contracts... scaled in and scaled out. I never leave runners. To be TLR here... I ended up averaging down on puts (yeah... I know) to the tune of 17 contracts thinking I just needed a 6% gain to sell the other 16 to leave a runner (which would have obviously gone to zero or near it now). The trade actually was in the green on 3 separate occasions but I kept holding to get that 6% and leave a runner. The last time the trade flipped green it missed it by 1 cent. and then it immediately turned against me. I should have cut it right then for a 10% loss or whatever it was, but I FOMO froze. What if it comes back... and I did.... nothing.

And I still have them and my account is down about 50% again. So all that 13 days of work was erased (basically lost double my gains) because of all kinds of horrific decisions including:

1. Using a new, unfamiliar strategy
2. FOMO
3. Probably most important (position size way too damn big).


Once again, I'm fortunate that this is not life changing money I am learning how to trade with, but this sucks. I had a strategy of small base hits adding up and it was working. Scalping was building the account.

I should have just danced with the one that brung me.

I will continue to trade a plankton sized account. I had told myself I was going to double my account size once I hit 100% gains... I was a little over halfway there before this debacle.

I plan to stick to scalping from now on.

Thanks for listening to the ramblings of a relapsed idiot.
I went through this at the beginning of my trading career. If you keep at it, I promise you'll eventually get over this behavior. You had some great success, you got overconfident, and the market is showing you who daddy is.

Couple pointers for you:

  • Every successful trader is good at risk management. There is no successful trader that is bad at risk management
  • You need to know when something is going against you (or not working the way you want) and it's better to gracefully exit when you can. I tell people a lot that the market rarely just straight up trends without any kind of wave like movement. You need to learn when to just GTFO and when to get out gracefully
  • In general, your day trades need to work almost immediately or you should be out. Swings are different obviously, but if you're trading 0 DTE and you're dealing with theta, the price movement has to exceed the theta decay. Theta decay is ferocious during the IB period once the market makers figure out the direction of the day. Sometimes it's better to wait for 9:00 AM to put something on
  • It sounds like you somewhat revenge traded. This is the most dangerous thing you can do to your account. Ask me how I know. You have to train yourself to step away when you take an L for a period of time to mentally reset yourself. When you remember that the market is always there the next day, you'll get over the idea of needing to make it back today.

Keep at it. You're making great progress. You cannot be a trader without going through this.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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AG
On runners: it's really hard to actually get into a position to have them.

I sometimes keep runners, but it's sort of loosely formulaic for me:

  • If up 100% (rarely happens), sell 75% and let rest go to expiration
  • If up 100% (still rarely happens), sell 50%, set stop on final 50% at B/E
  • If up 50%, sell 80%, set loose stop on final 20%
  • If up 20% (much more realistic scenario), sell 90%, set loose stop on final 10%

Sometimes a smarter move is to sell all, and then set up a profit roll at a higher strike so you can take advantage of IV and minimize price swings. ITM options really move with the stock (they tend to be Delta 70 to 100 depending how far ITM). OTM options, especially delta 20s just aren't as price sensitive and you'll know when to bail on a profit roll.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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One more thing, use moving averages on your options. If it goes below your MA, dump it.

1 minute or 5 minute chart on intra-day. Higher time frame on swings depending on how far out. Leaps would be weekly, 60 days out is daily, next week is probably 30 minute.
You don’t trade for money, you trade for freedom.
Brian Earl Spilner
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Thanks.
Ragoo
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TSLA is suck a freaking cock tease.
BrokeAssAggie
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All your bullet points hit the nail on the head with me.
Brewmaster
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chika eyeing 3650, just posted this...


@chikatrades

50m

let the games begin
-------------------------------------

Chika is similar to Tic, but far better IMO and no deleted posts. Chika has already started a put position.




irish pete ag06
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I did actually start buying SQQQ in my ROTH. Have acquired about 20% of a position size so far. Bought late yesterday and late today.
Brewmaster
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$30,000 Millionaire said:

On runners: it's really hard to actually get into a position to have them.

I sometimes keep runners, but it's sort of loosely formulaic for me:

  • If up 100% (rarely happens), sell 75% and let rest go to expiration
  • If up 100% (still rarely happens), sell 50%, set stop on final 50% at B/E
  • If up 50%, sell 80%, set loose stop on final 20%
  • If up 20% (much more realistic scenario), sell 90%, set loose stop on final 10%

Sometimes a smarter move is to sell all, and then set up a profit roll at a higher strike so you can take advantage of IV and minimize price swings. ITM options really move with the stock (they tend to be Delta 70 to 100 depending how far ITM). OTM options, especially delta 20s just aren't as price sensitive and you'll know when to bail on a profit roll.
.. I traded this morning like a dumbass and chased COIN. I traded the rest of the day and almost got back to even, but would be green without the mistakes this morning (chasing and averaging down).

for irish pete and BrokeAss etc. (I'm in your boat!) here's my revised version of 30k's 4th bullet point:

"If up 20%, sell ALL and move on!" Reason I say this is rarely do I buy 10 contracts (enough to sell 90%). If I buy 4 contracts, sometimes I will sell 3 on a nice pop and set a stop on the remainder. Keep on getting on base, over and over and over again.

Another thing we can do, sell ALL, wait for a dip and reevaluate, re-enter different strike, further out if need be etc. I've done that this week some and it has worked well.

I also quit playing 0dte's, they are freaking gasoline. I have my best luck scalping (SPY or Q's for example) with 5 to 7 days out, if it's a real quick move, I may play 2 days out.

hopefully this helps some, I'm still learning as well!


Brian Earl Spilner
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Took your advice and set a stop limit for most of my TQQQ at 29.05 / 29.

Gonna let my UPRO run for now though as it's only 100 shares and not a huge risk. Would rather not get stopped out on those.
Tabasco
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Ragoo said:

TSLA is suck a freaking cock tease.
What happened?
sts7049
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man, do I ever relate to this. I do well and as soon as I try to gamble or step out of what I know I should be doing I get kicked in the d***.

I ruined a good June by chasing NIO lottos and revenge trading.

but I am learning and becoming more disciplined slowly.
Ragoo
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Tabasco said:

Ragoo said:

TSLA is suck a freaking cock tease.
What happened?
shot up to 778 then sold off back to the close.
$30,000 Millionaire
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Directional 0 DTEs really only work if the market trends. Your win rate will be much higher if you sell premium or use spreads.

The biggest mental unlock you need with trading is to buy when uncomfortable and sell when comfortable. Unlock #2 is to always evaluate risk vs. reward. In simple terms, does the upside of what I'm doing make sense?

Let's say you bought calls at HOD today? Why? Did you think it would just keep going?

Let's say you bought puts at the close a couple days ago? Why?
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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Because I'm posting - I think a lot of you would probably benefit from trading micro futures during the cash session. Just don't use TOS. I think they charge $2.50 each way so you need a point to break even.

Micro futures are $5 per point and you don't have to worry about theta decay. You do, however, have to be really good with stops.
You don’t trade for money, you trade for freedom.
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