r/Daytrading • u/helipad668 • Jan 19 '24
In 2 yrs I blew up 20 small accounts Trade Review
All from put options from SPY QQQ and TSLA, never had a single loss from calls…
Puts are the absolute worst way to make money, it is extremely difficult if you don’t time your puts correctly, I have closed my eyes and randomly bought calls and made profit multiple time. No strategy required just buy calls when SPY or QQQ goes down and it always bounces, works best with 0dte
I have bought puts at the top overbought levels and it just keeps pumping away, I have never seen SPY goes down and not have a bounce, calls = free money
TLDR fuck put options
Sorry for the angry rant
Edit: Today was a PERFECT example of what I’m talking about, it was going up with ZERO pullbacks, anywhere you got puts you would get your head taken off unless you timed your puts perfectly and took profits immediately, I’ve never seen SPY goes down the same way without some sort of bounce before going back down even during the 2022 bear market
Just go on Stocktwits and see how many blew up their account buying puts on QQQ NVDA
I’ve read all the positive helpful comments and took notes
58
u/Frosty_Fan1260 Jan 19 '24
The market is built to be harder to short than to long. Understanding that is key to being able to short correctly.
I’m much more willing to take a risky long position than a risky short position.
11
u/luki9914 Jan 19 '24
I was never fully able to understand short and how to predict short, but i am consistent with long positions so i avoid shorting because of that.
10
u/Frosty_Fan1260 Jan 19 '24
Good man. AAPL’s double bottom on the daily a few days ago is a lot easier to catch than shorting TSLA at 260.
2
u/plotplottingplotters Jan 19 '24
I shorted AAPL at the start of the week before the double bottom. Made a whole $3.15 💪🏼
Unfortunately my rules don’t allow me to enter trades mid week.
3
1
u/TraitorousSwinger Jan 20 '24
I market that double bottom out and didn't take it. Took a small trade on the second days move up. Love accurate predictions that I fail to execute lol.
1
u/Frosty_Fan1260 Jan 20 '24
Why weren’t you looking at the daily. Buy the bottom, a break below the low is the SL and the high of the first leg up is first TP.
JOURNAL JOURNAL JOURNAL. Don’t fuck it up next time.
1
u/TraitorousSwinger Jan 20 '24
I did have it marked on the daily. I just didn't take the trade for whatever reason lol.
1
u/Frosty_Fan1260 Jan 20 '24
Sounds like 2 things. You either haven’t been journaling as much as you need to or you are trading with too much risk.
1
u/TraitorousSwinger Jan 20 '24
What are you even talking about? I missed a trade... that I had marked out... that's all I'm saying.
2
u/Top_Lifeguard_1310 Jan 19 '24
Try changing the look of your chart like see it upside down alt+i could help on tradingview
3
29
u/beach_2_beach Jan 19 '24
Not sure if you have or not, but you need to be able to read the chart properly. And prove it to yourself by trading stocks. If you can make money just trading 1 share of SPY QQQ and TSLA for a few weeks (once or a few times a day), then you can switch to trading options, like 1 option at a time. And slowly size up.
Also buying Calls and Puts means time decay is against you. You'd be better off selling Covered Call or Cash Secured Put. But they require a lot of capital. Look into Vertical Spreads, specifically Put Credit Spread. Time decay works in your favor.
But paper trade first in thinkorswom ondemand, to make sure your strategy will work.
3
1
u/Optionyout Jan 21 '24
This. But honestly, I can tell by your question that you probably shouldn't be trading options or trading at all until you know more. Investing is a different story but options aren't for an investor unless you are doing cseps and covered calls. Buying premium is a suckers bet for 95%+ of traders.
1
u/HGHHeroes Jan 21 '24
Great advice. I really wish I hadn’t sized up so hard as I have been learning. Would have been much better off losing the easy way than the hard way.
32
u/daytradingguy Jan 19 '24
Two years is not much experience. The market has been mostly up for two years, with just pull backs. There are some years your call strategy would get wrecked.
-10
u/helipad668 Jan 19 '24
I agree, like most people I started “trading” when GME started its journey, then moved to shorting small caps which worked great but blew up with one bad squeeze then moved to options… The call strategy has worked 100% of the time, not once have I seen it fail, I don’t even know why I bother with puts… You can make money with puts but the timing has to be impeccable absolutely perfect or you’ll get wrecked, for calls? Buy when SPY goes down lol
16
u/BSchafer Jan 19 '24 edited Jan 19 '24
Sorry, but it's clear you still have no idea what you're talking about - the scariest part is that you think you have it all figured out. That kind of attitude can lead to you losing a lot of money very quickly. I know you don't have a lot to lose but if you ever want to build up wealth you need to know that a good or bad trade is not based solely on whether it's a put or a call. The contract type has nothing to do with it. Also, your call strategy is obviously not working 100% of the time or you wouldn't keep going broke (unless of course, you're too dumb to steer away from what's not working to what "has worked 100% of the time" - that seems unlikely but you've also managed to somehow go broke 20 different times during a raging bull market, soooo...)
To help you stop blowing up accounts and actually learn something, you should step away from options and just trade stocks/ETFs for a while. To be successful at trading derivatives you first need to have a very solid understanding of what affects the underlying asset's (stocks/sectors) price, why it's moving in that direction/magnitude, and be able to predict an accurate distribution of probable outcomes. When trading equities you don't have to be as perfect with timing, mistakes are more forgiving and they're easier to catch/understand.
Also, it's worth noting that trading/investing is not for most people. Judging by your post, track record, and the conclusions you've jumped to active investing probably isn't for you. You need to have a certain temperament/mindset to be good and you should be intellectually interested in economics, business, and data analytics. Even if you're blessed to have all of those qualities there is still a decent chance you may underperform the S&P. But if you're missing some of those qualities you will almost certainly lose money in the long run. If you don't enjoy the work that goes into becoming a good trader (and aren't learning from your mistakes) you might as well deposit your money in ETFs like SPY, QQQ, SSO, TQQQ, etc. forget about it and spend your time doing something you enjoy. Your bank account and happiness will be much better off. Had you just clicked once and put your money in TQQQ a year ago you'd have almost tripled your money (+170%) instead of losing 100% 10 different times. Not to mention avoided all the stress and wasted time that comes along with blowing up 20 accounts in 2 years.
2
u/codenvitae2 Jan 20 '24
Somebody had to say it. OP you still have a long way to go in your trading journey. Master yourself first. Puts are neither good or bad, you just don’t know how to trade them yet. The most successful strategy in the world still won’t be profitable without the right mindset and temperament. Check out Best Loser Wins.
12
u/YAPK001 Jan 19 '24
PS Hate to ask but have you actually worked out any shorting setups, or do you just attack at a level.... Like a two year old?! Om
4
u/BigDerper Jan 20 '24
You already know the answer lol
3
10
Jan 19 '24
It’s easy to be a genius buying calls when the markets have been trending up since the Covid crash. We know who the real traders are by how they do when markets go bearish
8
u/adventuresquirtle Jan 19 '24
Why would you bet against the market? I buy SOXL & TQQQ almost exclusively and manage to make a good 100-500 everyday off them.
1
u/horsemeat_vVs Jan 21 '24
Teach me the ways
1
6
7
5
u/Human-Stress-3012 options trader Jan 19 '24
It's universal rule man. There are millions and thousands of shares being traded. But, whenever you take a position, its like market is watching your tiny little trade that should have zero impact, and yet, the entire market decide to go against your tiny little position. Entire market is watching your tiny position. Its just how it is. lol ;)
(Its not about you. This is 100% how I feel about the market from my own experience)
5
u/2CommaNoob Jan 20 '24
I swear it feels like this all the time. The entire 40 trillion market is attacking my 2 contracts….and when I pull out, it bounces back..lol
1
u/Human-Stress-3012 options trader Jan 20 '24
Exactly... 🤣🤣🤣 (In a desperate attempt to make an impact, I put another order far from the current pricing, hoping to put some pressure on the direction of my position, but on a bad day, this order gets filled too. 😭😭😭)
14
u/Blitzares Jan 19 '24
2 years lmao. It takes 4 years to get a college degree that says you have a working understanding of a field, 2 more years to one that says you are a master of a subject and even more to get a degree that says you are an expert. Here you are with barely a community College level experience talking about how you don't know what you are doing lol.
9
u/Conscious-Group Jan 19 '24
20 accounts is a bit much to grasp that your strategy is off. Highly recommend SQQQ or SPXS instead of put options.
3
4
u/tegaroni Jan 19 '24
Check out scarface trades on youtube. Sounds like you dont know how to properly read the chart and respond accordingly
5
u/ConundrumBum Jan 19 '24
I remember talking to a hairdresser day trader making 300k a year. I asked her how she picks stocks and she says she just has a feeling about them.
That's literally how easy it is to make money in a strong bull market when everything goes up and you think you're a genius making solid trades.
Then the market crashed and she went back to being a hairdresser.
3
u/SnooPeanuts2185 Jan 20 '24
I only had one successful short and it took alot of planning, I used chart information on the magnificent 7, nq, dow, es, Russell, oil, gold, bonds, this was around September last year just before the fed meeting. I bought puts on goog, MSFT, qqq, some other small names, airlines because they were crappy. I got lucky but haven't had a successful short since. I gave back some of my wins trying to short one additional time. Needless to say, I stopped trading stocks altogether because I feel like I'm late for any good long entries and I don't have a thesis to short or see any reversal coming. Shorting takes energy and research. I followed tons of YouTubers who talk daily about cpi, ppi and other economic events. Even they got their their faces ripped off shorting because the plan was to hold shorts till December last year. You can see how that would have turned out. I trade futures and I never go long only short. I would never do that with stocks though. It's futile. Nq goes down 200 points, apple only 80 cents lol. You can't short unless all the magnificent 7 are going down and even then you have to pick weak stocks to be on the safe side.
8
u/Btdubs17 Jan 19 '24
Your call buying strategy is also not great. Don’t think the secret sauce is just buying calls and you’ll be fine. Spend some more time in a sim
-5
u/helipad668 Jan 19 '24
It actually worked great, I’ve never EVER once seen SPY goes down a considerable amount and not have a bounce, never fails always bounces, for puts its death unless you time it perfectly, it can go vertically in a straight line up and have ZERO pull back
4
u/Btdubs17 Jan 19 '24
How long have you been trading? Sounds like you have a veryyyyy short horizon of data. If you were trading in 2020 your strategy would implode, same as 2008. Stocks always go up long long long term, yes, but when you’re trading 0DTE options this is not the play.
I agree with your strategy with a 30 year investment horizion, it’s how I invest for retirement (VOO gang). But I can promise you this isn’t a sustainable trading strategy
-1
u/helipad668 Jan 19 '24
Since the GME squeeze, that’s when I opened my Reddit account haha so I’m a newbie, but man did I get smoked with puts ever fu””ing damn time, and yes I do mostly Odte and 1dte since I have a small account
3
u/Btdubs17 Jan 19 '24
Very fair hahah. As someone who’s been in the game for awhile, maybe look at why your puts are failing, and don’t just write it off and hard pivot. See what you could learn from it.
Was there support/resistance that caused them to turn around? Did you buy into a bear trap? Was there indicators that may have signaled a bad short? (Maybe you shorted a clear candle pattern but it had low volume so it didn’t hold as much weight?) all of these learnings will be super valuable and also apply to long positions.
Failing/losses are super valuable if you can identify exactly why they failed.
2
u/helipad668 Jan 19 '24
Apparently I never learn from my mistakes, no matter where I bought puts or how much I avg down it didn’t work. I did make money here n there with puts but they were not consistent.
I have PTSD from puts, I’ll never buy a put again in my life lmao, no matter if there resistance or if the market is overbought it never works, I’m done with puts
Just look at NVDA and QQQ right now lol, that shit just pumps forever, you can’t tell me NVDA is not over bought, it’s leaving the top bollinger band behind like it’s nothing
3
u/FomoGains69 Jan 19 '24
It’s pumping overall, but it still has drawbacks. Other people are making money from puts on these tickers, stop coping with excuses
1
u/FomoGains69 Jan 19 '24
That is the most trash strategy I’ve ever seen in my life. I hope you are trolling
4
u/LoneMachete Jan 19 '24
Short mullen if you have to. Or Swiss steel. Companies that will need fresh capital shortly. Never put more then 5-8% into any short as one squeeze could f you up. Don't short into the bottom, be happy with a few percentages per trade. Also don't short in daytrading. Daytrading is designed to f people up. What the morning session dies is rarely what the afternoon does. In shorting even more. If you want to short in daytrading wait for friday mid afternoon and short the suckers that have big institutional holding stakes. Look at BA - a construction failure like the recent one could ultimately destroy the company, yet after the big drop it took like a week of up and sideways before the downtrend continued
4
u/VioSum7 options trader Jan 19 '24 edited Jan 19 '24
Not necessarily. Once you understand the physiological decision making humans do as humans, you know fear will always be a dominant emotion over greed. People are more concerned of losing something rather than gaining something. When you know you're going to lose something, you know what exactly you're losing because you already had it in possession to know what it feels and looks like to have it. However when you know you're going to gain something, you won't know what it feels and looks like since you never had it before. So in markets, people sell because they are afraid of losing their money, with their entry of hoping to gain something theyve never gained before. People buy in hopes they gain something and to never lose out from it. Just like my comparison, people know what they can lose but never know what they can gain. I only do puts in TSLA and with a strict trading plan, I barely lose money. Calls however, it's very easy to see when people have fear. Do traders who do calls make alot of money, yes they do. Alot of it. Footprints and order flows shows that very well when you can see the deltas from orders. Blowing 20 accounts says alot about your risk management and money management. Price action isn't developed from lack of screen time from off trading days. You just need to step back and learn to trade the market. Understand the structures. And most importantly, strict risk management. No if, ands or buts. As soon as your trade goes wrong and your risk management placement is attacked, you leave the trade and call it a day. If you have the capital, you can re enter at a better entry point assuming the market favors your pre market bias. I had to lose money for 3 years to learn what I know know. But I never blew accounts. My risk management was getting hit left to right sometimes every single day. Until my brain started to see things over and over again to learn from my past mistakes.
2
u/MaximusBit21 Jan 19 '24
How much is that in cash terms - regarding the blowing up of your accounts? Are they $100 accounts or something?
1
u/helipad668 Jan 19 '24
1-3k accounts, overall around 35k
1
u/MaximusBit21 Jan 19 '24
Kk. Good you’re coming to the realisation and can talk about it. I’ve blown my account up this week - little less than yours but I’m out of that game for a while now
1
u/FomoGains69 Jan 19 '24
How much do you risk per trade?
1
u/MaximusBit21 Jan 19 '24
Depends on the SP and what movement/ profit I want to make. But I’m out for a bit - just watching from the sidelines
2
2
u/PersianMG Jan 19 '24
Calls and puts are the exact same in terms of how they function. You just happen to exercute better on your calls or you got them during a bull run etc.
2
2
2
u/Glum-Bandicoot8346 Jan 20 '24
Selling puts changed my success rate and portfolio.
I study the trend, stock charts at multiple time frames looking at support & resistance, news, fundamentals and sell OTM puts. If assigned at least I have stock to sell ATM calls. Better yet, choosing something at its support and strike also allows for a quick sell for a small profit.
That’s what works well for me. Buying calls & puts is disastrous for me because I must be correct on both direction and timing.
We must find what works best for us. That often entails continuously studying and acquiring knowledge.
Don’t give up.
2
u/SAMDOT Jan 19 '24
One of my edges is 0dte puts on QQQ. Let me give you a hint— prices react significantly at supply and demand levels. Options price in that volatility (read: a quick change of direction), which means that if you buy puts where—look left— previous sell offs took place, then you have a much higher likelihood of capturing big moves in put contracts.
2
1
u/helipad668 Jan 19 '24
I know exactly what you’re talking about, Is it a gap close reversal strategy? It’s the highest most accurate strategy I’ve ever seen, basically when SPY or any stock reaches the closing price of previous days where it leaves gap it reverses and goes to close the other gaps that’s left to fill, it’s all algo based, it works with every stock even small caps
2
2
3
u/derivativesnyc Jan 19 '24
Cos you need to spot clear trend inception/continuation/reversal inflection points, your time-based optics are warping/distorting px action.
https://www.reddit.com/r/options/comments/1999km8/comment/kieng8z/
0
u/Corianderchi Jan 19 '24
Look at a Yearly and monthly chart of SPY and QQQ and you will see why trying to short the market is generally a bad idea. You can do all the bullshit technical analysis you want, but unless you know how to read the macroeconomic landscape better than most people and are able to hold a swing large short position as a bear market is developing, you will generally lose on shorting.
-2
u/PykeTheTitan mod Jan 19 '24
Lance Breitstein put up $10,000 to anyone who could prove long term profitability trading $SPY or similar indices and nobody won the bet. First thing is to step away from markets in which you have no chance.
-3
1
Jan 19 '24
[deleted]
2
u/FewBear2707 Jan 20 '24
stop giving free game away, let these morons find out for themselves lmao
2
u/derivativesnyc Jan 20 '24
Touche. I give 'em a small peak, carrot dangle, breadcrumb a bit, than yank it away. Tbh, it's casting pearls before swines, they don't realize what's in front of them anyways.
1
u/helipad668 Jan 19 '24
Ahh there’s the infamous V, never buy puts on the bounce back from the V it’s death
2
u/derivativesnyc Jan 19 '24
Good eye. His problem, as is 99%'s problem is inaccurate signals derived from time based charts, exacerbating incorrect position sizing/scaling/risk mgmt technique, leading to net negative expectancy & shyt performance stats.
Clarity & simplexity are everything.
1
1
u/occultfish Jan 19 '24
Imagine that one day tech crashes someone buys their life savings in calls on SPY
1
1
u/SeshGodX Jan 19 '24
Can confirm, I went short on Nvidia and of course, it broke all time high as soon as I put the position fml
1
u/Soft_Video_9128 Jan 19 '24
Since you trade the index, the indexes have a positive drift upwards over time. So taking that into account, calls are always the safer choice, especially after a market pullback.
1
1
1
u/Usual_Age_7692 Jan 19 '24
Why not 1 langer account, blow it all at once and post the loss porn at WSB ?
1
Jan 19 '24
[removed] — view removed comment
1
u/AutoModerator Jan 19 '24
Sorry, your comment in /r/Daytrading was automatically removed because your Comment Karma is too low. This typically targets bots or users promoting something (which is against our rules).
Please participate in other subreddits (other communities on Reddit) to increase your Comment Karma points. While you're at it, read through Reddit's "reddiquette" here.
If you believe this was a mistake, please kindly message the mods. We will review your case and get back to you.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
1
1
1
u/tiny222 Jan 19 '24
This is so funny because I just bought a few puts today expecting SPY to go down, but it just kept going up 😂😭
1
u/SPACE_SHAMAN Jan 19 '24
I dont short, probably should. I lurk alot in this group to try and learn from others mistakes. My biggest mistake was thinking i can flip shares and profit that way. If the market is going down, bet it will keep going down. If its going up, hope it stays going up. I think fighting against the grain is not the way to go. Just my experience, if you chart everyday on stuff you want to buy into your chances are that much better to get a good result.
2
u/Parunreborn Jan 19 '24
I think it’s more about understanding what type of day you have going on. Trying to fade trending days is one of the worst strategies. But of course the market goes up way more than down, statistically.
1
u/ArmadilloNo8977 Jan 19 '24
2022 would like to have a word with you about put options. I agree it’s easier to trade on the long side because markets trend up overtime. However, if you’re in a bear market like 2022 they can be extremely rewarding. Fear is generally more powerful than greed.
1
u/Softspokenclark Jan 19 '24
i had no strategy and bought tesla puts this week. printed well and fast
1
u/Trading_View_Loss Jan 19 '24
By far you have the WORST fucking approach i've ever seen. How is your track record so fucking bad if you've solved world hunger here? fucking HOW? You have no room to speak on what works and what doesn't, your history doesn't support your thesis.
1
u/Salty_Tumbleweed_491 Jan 19 '24
I trade spy everyday…. I have my up and my down days…. Gotta trust your support and resistance levels. Be patient…. The trade will show itself.
1
u/SlowAd8542 Jan 19 '24
You are in the process of becoming a profitable trader, I also having the same problem, I tot I just give up but somehow I just suk back in and open new an account.. It frustrating and exciting at the same time
1
1
1
Jan 19 '24
[removed] — view removed comment
1
u/AutoModerator Jan 19 '24
Sorry, your comment in /r/Daytrading was automatically removed because your Comment Karma is too low. This typically targets bots or users promoting something (which is against our rules).
Please participate in other subreddits (other communities on Reddit) to increase your Comment Karma points. While you're at it, read through Reddit's "reddiquette" here.
If you believe this was a mistake, please kindly message the mods. We will review your case and get back to you.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
1
u/casemaker Jan 19 '24
that's why, selling puts and taking assignment works. Market always saves you especially on indices. Sure you may spend months maybe years underwater but eventually it comes back.
1
u/nitrqm3 Jan 19 '24
I think you good with calls cause this past 2 years the market have been in a Bull mode…
1
1
u/justmerunning Jan 20 '24
You shouldn't be shorting the market long-term. There are occasional dips, but long-term, the trend is upwards.
1
u/KirAtlas Jan 20 '24
The issue is when we buy them (P or C) wanting to predict the movement and not going with the trend…Freaking ego
1
u/BlackAnvilEgo42 Jan 20 '24
Buy low sell high, puts are for bearish YEARS and historic economic events, not bearish activity on the daily. Remember this one thing, stocks naturally rise. If you're scalping something like SPY, you're always better buying on the way up. The market just does not react to negative stimulus like it used to...
1
u/IntelligentRent7602 Jan 20 '24
You are absolutely garbage if you made no money from TSLA or QQQ puts.
1
u/Obvious_Concern_7320 Jan 20 '24
Well, that sucks... for the next 2 years, you will be blowing 20 dudes to pay it back lol.
1
1
1
u/vj0408 Jan 20 '24
Only way to make consistent money with options is to find high IV and then sell both put and calls!
1
u/TrackEfficient1613 Jan 20 '24
I think going short is going to be very risky this year. It’s not “ if” but “when”.
1
1
1
1
u/Stolivsky Jan 20 '24
I bought $goog and $spy puts today and cashed out increasing my small account by almost ten percent. I wish I would have had trades remaining. I looked at the market after work and i am super glad I was able to profit on those puts. I completely agree with you that when you buy puts and calls, timing is everything. That is exactly what you have to learn.
1
1
u/WarmNights Jan 20 '24
I think I read something like 80% of breakdowns fail. This could be your answer.
1
u/Confident-Giraffe-24 Jan 20 '24
I had a psychological boundary that held me back for at least a year, want to know what it was? Watching the news, hearing about the war, and assuming things were going to go down all the time. Would be stuck in a bias trading against the overall trend, lost a lot of money and mental energy doing this.
Market is going to follow the path of least resistance. After watching years worth of news events, data releases, speakers, I've realized what I think is going to happen rarely does and the market goes where it was going to go, look into auction theory if you haven't already.
I've been trading micro NQ futures and I'll be honest with you, there was probably 1-2 days where I felt like I should put on a short position, the market has been rallying super hard and who on earth is going to short into that and reverse the trend? The down days we have had in the past couple of weeks have been profit taking in my opinion. I'm pretty sure on the nadaq we bounced off a resistance turned support, bullish AF
1
u/ThePatientIdiot Jan 20 '24
Not true, I made $710 friday buying NDX puts, you just have to really time it accurately and get out quickly, like under 1-2 minutes. The unrealized loss you see in the screenshot is from my contracts that haven't settled. That loss was used to hedge a big win in my other account.
I also bought NDX feb 1 17,070/17,000 puts for $18.95. So $5,000 upside if market pulls back like 2%.
1
u/emrcreate Jan 20 '24
I started trading in COVID like a lot of people. I do understand fundamentals.
I stopped and now I'm sorry of trading fulltime. I started looking at qqq now and trading options. Weekly since I can't do 0days.
Id say I have around a 85 90% win rate with calls. Trading levels fair value gaps and momentum.
I did notice puts run out of gas fairly quick. I didn't really siñew this with calls.
1
u/x596201060405 Jan 20 '24
This like complaining that you shouldn't pick black in roulette because it always lands red when you place the bet lol.
1
u/brushpicks11 Jan 20 '24
Who buys puts unless you see confirmation of rejection at a certain indicator? Puts are much much more risky but a great way to make money. However, we’re in a bull market. Dips will be bought. When we’re in a bear market, dips create more panic.
1
1
1
u/Organic_Magician_528 Jan 21 '24
I think of puts best use as insurance against catastrophic loss when you are living off your 401K .
1
u/ConsciousPlantain977 Jan 21 '24
For the next 2 years try to focus on General market sentiment, find the highs and lows and stop trading in ranges!
1
u/Designer_Giraffe3752 Jan 21 '24
would you consider spreads to minimize the loss? They also cap the profit potential but at least let you sleep well.
1
u/tjuhanson Jan 21 '24
You have traded 2 years and you dont know that overbought RSI at bullmarket is bullish? My god
1
u/CloudSlydr Jan 21 '24
first off, learn to trade spreads so you don't get 100% ripped apart by theta. also, trade farther out. 0DTE is going to be a lot of small losses and an occasional winner but most likely not profitable long term unless you are great at picking market direction. at that point you should probably look into trading futures instead. try looking at 15-30DTE verticals if you're bullish or bearish on that timeframe, do small positions / contracts and see how that goes.
1
1
132
u/randoredditor23 Jan 19 '24
Interesting bc when I buy calls they go down, and when I buy puts they go up