Taking a couple XSP 396C on this dip. Entry 0.74
Stop at 0.45
Stop at 0.45
You don’t trade for money, you trade for freedom.
First off, great work.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.
You can't really trade options in the accumulation phase, which WWR is now in.sts7049 said:
i'm done with WWR options until it shows some life again.
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.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 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).$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.
What happened?Ragoo said:
TSLA is suck a freaking cock tease.
shot up to 778 then sold off back to the close.Tabasco said:What happened?Ragoo said:
TSLA is suck a freaking cock tease.