Taking a couple XSP 396C on this dip. Entry 0.74

Stop at 0.45

FJ back charting last night and $30K shows up today.

I'm all in!

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.

i'm done with WWR options until it shows some life again.

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

Today i learned that aston martin makes a model called the valhalla. Next thing i know you guys are talking about wwr. Coincidence?

I think they're all dancing on TTD's table this week

luckily for them, they had us to scoop up their piles of crap

Brian Earl Spilner said:

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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.

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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.

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.

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.

sts7049 said:

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i'm done with WWR options until it shows some life again.

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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.

irish pete ag06 said:

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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.

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.

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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.

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.

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.

All your bullet points hit the nail on the head with me.

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.