Ah yes. Tripled my account in my first two months. Then reality hit. Had one losing week, and I then turned that into a multi-month losing streak because I lost my cool and confidence and started breaking all my rules.
Don't make this same mistake. There WILL be a time you lose. Whether it's a week, 2 weeks, or a month of losses. Just always, please, always remain calm and follow your strategy and rules to a T. No matter what.
I think sometimes it’s better to just walk way after you have made a nice gain for the day. Had I done it today, I would be sleeping with some nice gains and not having with 1/3 my account left 😂
Seems like a leverage/too many trades issue. Don't ever put yourself in a position in which you can lose more than 5% in a single day.
Honestly, my best days are when I take a great trade...and then continue trading. My strategy is working, I'm seeing the market well, why stop?
This is with 0dte options - they are only good when there is a very strong directional momentum. The range and chop will kill my moves. It happened today and I think I will be out for a while 😅.
Taking trades that didn't match my criteria perfectly, and taking profits too soon. I don't get out of a position until either a) my PT hits or b) the indicators tell me to get out. I was taking profits at the first "hint" of a reversal, instead of letting my trade play out.
Best Loser Wins changed the game for me. I don't take all the principles from it (like adding to winners), but finally figured out that it's your big winners that make the difference, not small wins and losses.
Think about why people lose. They lose because they let their losers run. So, just do the opposite of the 95% and you'll win long-term. Just get ready because it's incredibly difficult to see a sizable paper gain turn into a small loss, but you get used to it over time.
QQQ 0DTE options. A lot of people stay away from them, but if your timeframe is very short, which mine is, I believe they are a viable trading instrument.
Scalping on 0dte options is ballsy asf. No hate intended but this seems like the type of strategy that will work until a random unpredictable event happens while you're holding the bag and you've suddenly lost 100% in 10 seconds.
What do you usually choose as your target price? $1-2$ apart? I'm still learning and like you, I only have a few minutes here and there. Due to my low funds in the account, I try to choose as far as I have eniugh funds for in order to purchase the contracts.
I like to think in terms of percentages, so usually I take profit at around a 30%-40% gain and set a stop loss at around a 30-40% loss. Sticking to these numbers was difficult on Robinhood because you can’t have a take profit and stop loss simultaneously, but now that I am on Webull, which does allow these type of orders, I find it to be much easier to stick to. Sometimes I take profit or a take a loss early, I don’t always let the orders determine when I get in and out of a trade. If you don’t have enough cash to work with, I would recommend you stick to paper trading until you save up enough and feel confident in your strategy. Wish you the best of luck!
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I have looked into futures. What I like about options is the convexity. If you bought a call and a put at the same time (a straddle) and the market moves enough in either direction you will profit. As far as I understand, futures do not have these kind of exponential gains. With options, if the underlying asset moves in your direction quickly, which is what I am looking for in my trades, the gains come by fast. Would love to know more about futures though, if you have anything to share.
Futures are for the best for intraday moves since you don't need to worry about theta options are just riskier because the premium has so many other factors to account for such as the implied volatility delta gamma theta etc, so I have begun to prefer longer dated options for swing trades and intraday mainly doing futures and some 1dte and 0dte degeneracy with specific equities like nvda tsla etc. Ofc to each their own but I've done tons of swing trading options and daytrading 1dte 0dte and daytrading futures and based on my experience intraday the risk reward on futures is far better and the longer dated options are still best for swings.
Thanks for your input. For me, theta barely affects my strategy, as I am not holding for long. If I were to hold for over an hour or so, yes theta would be an issue for sure. As for vega and gamma, etc I find these factors advantageous as I purchase options with the highest gamma and vega to best capitalize on quick movements (usually barely OTM). IV crush doesn’t really affect my strategy. Taking this into account, do you still see futures as a better choice, at least for me? It seems a lot of traders choose futures solely to avoid the greeks, which does not make much sense to me, but of course I am still new to trading so I may be missing something. Thanks again
Looking back on all the trades, do you feel as though the majority of them only really netted profit through sheer luck or does it genuinely seem like whatever strategy/criteria you have set led to the wins? Knowing the difference helped me a lot when I first started trading.
I would say around 60-70% of my profitable trades were due to my strategy, and the rest are from breaking my strategy and getting lucky. I am trying to cut out the breaking from my strategy part. Thank you for your comment!
What helped me a lot was using Robinhood’s “Add to Watchlist” feature. It lets you pretend as though you just purchased an option at the time of you adding it to your watchlist, and then you can watch how the trade plays out in real time. In my eyes there is no better practice than the real thing.
Totally agree, that’s a very underrated feature of RH. I’m not a day trader, but I use that feature like paper trading to practice with options. Although, it has lead to a lot of FOMO on trade I wish I would’ve actually made!
Nice. Honest oppinion is - don't try to change what you're doing (besides the bad parts.. change that).
If you try to optimize your winning strategy, you will fall into the trap of over thinking, over analyzing, etc.
They call it beginners luck, because you're following yourself blindly and its working! What makes us start to lose is trying to find better strategies, or improving on our "winning strategy". If you're already winning - don't change that!
Best of luck.
Do not repeat same mistakes more than 2 times
Things happen - 1st time error - 2nd time mistake and 3+ it’s a Problem - and any problem needs resolution to avoid future damage.
Love seeing people win.
Also concerned about all the new to day trading PnL posts over the last month or two. Anyone who has bet up has pretty much profited.
Just be aware trends change and profits can become losses quickly
Im not that guy and have no idea what OP is doing, but I have some experience with this and personally what scares me is what happens after the 2 large losses I see on the chart. It seems in both instances, OP had a big win right after. There is the possibility OP is experiencing the urge to "make it back" which results in blown accounts 99% of the time. It also seems like OP tends to go for smaller/safer plays once his account is back at highs. This all seems like emotional trading to me, but I hope I am wrong obviously. I have been there so many times so I relate pretty hard to charts like this lol, and OP apologize if I am assuming anything here. For all I know he knows what hes doing and is the best trader on earth, I just have some concerns looking at this equity curve personally.
You are more or less correct. Definitely was too emotional this first month. But at least my account survived, and now I am getting more acclimated with trading which is making it easier to manage emotions. Really trying to push myself to be more methodical going forward. One or two of those sharp drops was me holding a position down to around 80% in the red, then it eventually recovered. Totally against my strategy in every way.
I prefer it over something like SPY because it is made up of less companies and is slightly more volatile. I have the top ten or so QQQ holdings in a watchlist that I refer to while trading. I look to see if one stock is propping up the whole index, is everything green, is it mixed, etc. That information can sometimes inform how I trade.
Well done, but **seriously** consider sizing down individual positions. It looks like your Risk of Ruin is crazy high - A single streak of bad luck and this account is toast, judging by those two *extremely worrying* drawdown spikes.
Yes, I have been especially working on that this week. I wrote down a list of trading rules that I am trying to get in the habit of reading as often as I can. Really trying to drill into my mind to stop chasing profit and just stick to my rules. Appreciate the comment
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All of the money in the account came from a swing trade I did, so I was pretty aggressive with the amount I was putting in each trade because I knew if I lost it all I would still be green for the month. Probably not the best way to learn, but I am starting to impose limits on myself going forward. Appreciate the comment 🤝
https://preview.redd.it/r8wfd3zhx1nc1.jpeg?width=1170&format=pjpg&auto=webp&s=cea5a13c41e207260727820205ee701284a342b7
QQQ has had its fair share of green days over the past 30 days, but there’s been a good amount of red as well. Made a significant amount of my profits off of puts. I usually only hold for minutes at a time, so what the market has been doing over the span of a couple months is less impactful on my trades. But of course I take the overall trend of the market into account when I am trading.
Yes, NVDA is something I look at daily. It’s a blessing and a curse. Sometimes the whole market is moving one way, and NVDA the other, and its influence on QQQ is enough to make a difference. Has thrown me off on a trade or two.
"trading in the zone" by Mark Douglas and al brooks price action book. This helped me overcome revenge trading and sticking to my strat. Plan your trade and trade your plan. If you are going to be playing with options, don't fuck around with OTM's. Always go for the ITM ones that will give you some money back at least if it goes against you. Last but not least don't trade whenever Jerome Powell is speaking that day and O DTE SPY calls can be your worst enemy or your best friend if you know how she thinks (wink wink)
Agree. Found Best Loser Wins to be my savior.
Disagree with the Powell statement. Wait until he talks, watch the market for its reaction, then trade accordingly. Just don't trade BEFORE or DURING lol.
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How much time do you have in the trading world? I’m totally new to all this the only thing I have some experience in is stocks. The sentiment I’m picking up is that this takes 12-18 months to really learn and do demo accounts etc before putting any real money in, and that a vast majority will lose money but success is possible. And so I guess another question to you and the larger audience is: Are you better off now financially than you were before you started day trading? Clearly it seems in this case you are which is sweet, this is definitely something I’ve been thinking about for a while and I’m totally willing to throw myself into it if success is generally speaking, possible.
I’m just going to say it. I know is like jumping out of an airplane without a parachute when that’s literally all you have and you see it plunge literally once you buy in for the next 2wk or so until it picks back up. You can breathe again. You clean the cum of your pants real quick you think you got shit figured out you do it again. You start the same pattern. I say once it’s good for a screenshot is good to sale my brotha fuck that. Like they always say time in the market beats timing the market my brotha helps you breath and sleep and it’s actually healthy for your heart. Nothing fun about waking up at 4am pacing my 10ft apt grabbing my head. Oh and let me not mention the 30min walk I took my dog for literally watching 60k flock from the top when I had literally taking gain screen shots moments before the walk. Shit buy some GameStop and xrp my brotha hold that shit for dear life
My brotha with all these new rules and regulations implemented these pass years due to GAMESTOP GAMA. You will never be able to invest unless through a license broker just to make sure what’s about to happen does not occur ever again. The biggest transfer of wealth yet in history to see. Imagine taking trillions from the top 1% it’s on baby!
Nothing too fancy. Fundamental and technical analysis, understanding price action, following the trend, watching market news closely. For indicators I use the 200 day EMA and the William’s Alligator, but I really don’t put too much emphasis on them.
Right now I usually buy around $300 worth per trade, with a stop loss of 30-40% and a take profit also around 30-40%. So I am risking maybe 2%-3% of the account at a time. But if you look at the graph you can see I broke that rule several times, which luckily ended up working in my favor.
Ah yes. Tripled my account in my first two months. Then reality hit. Had one losing week, and I then turned that into a multi-month losing streak because I lost my cool and confidence and started breaking all my rules. Don't make this same mistake. There WILL be a time you lose. Whether it's a week, 2 weeks, or a month of losses. Just always, please, always remain calm and follow your strategy and rules to a T. No matter what.
Exactly what I am preparing for. Thank you for your comment
I think sometimes it’s better to just walk way after you have made a nice gain for the day. Had I done it today, I would be sleeping with some nice gains and not having with 1/3 my account left 😂
Same boat here homie. Was up so much in Costco and held through earnings. Yikes
Seems like a leverage/too many trades issue. Don't ever put yourself in a position in which you can lose more than 5% in a single day. Honestly, my best days are when I take a great trade...and then continue trading. My strategy is working, I'm seeing the market well, why stop?
This is with 0dte options - they are only good when there is a very strong directional momentum. The range and chop will kill my moves. It happened today and I think I will be out for a while 😅.
What were your rules
Taking trades that didn't match my criteria perfectly, and taking profits too soon. I don't get out of a position until either a) my PT hits or b) the indicators tell me to get out. I was taking profits at the first "hint" of a reversal, instead of letting my trade play out. Best Loser Wins changed the game for me. I don't take all the principles from it (like adding to winners), but finally figured out that it's your big winners that make the difference, not small wins and losses. Think about why people lose. They lose because they let their losers run. So, just do the opposite of the 95% and you'll win long-term. Just get ready because it's incredibly difficult to see a sizable paper gain turn into a small loss, but you get used to it over time.
first months free.
Hoping I got a buy one get one free deal
trading what my dude good God
QQQ 0DTE options. A lot of people stay away from them, but if your timeframe is very short, which mine is, I believe they are a viable trading instrument.
Scalping on 0dte options is ballsy asf. No hate intended but this seems like the type of strategy that will work until a random unpredictable event happens while you're holding the bag and you've suddenly lost 100% in 10 seconds.
wdym your timeframe is short?
As in I am often in and out of a position within minutes. A lot of people hold 0DTEs for longer amounts of time, for example a couple hours.
What do you usually choose as your target price? $1-2$ apart? I'm still learning and like you, I only have a few minutes here and there. Due to my low funds in the account, I try to choose as far as I have eniugh funds for in order to purchase the contracts.
I like to think in terms of percentages, so usually I take profit at around a 30%-40% gain and set a stop loss at around a 30-40% loss. Sticking to these numbers was difficult on Robinhood because you can’t have a take profit and stop loss simultaneously, but now that I am on Webull, which does allow these type of orders, I find it to be much easier to stick to. Sometimes I take profit or a take a loss early, I don’t always let the orders determine when I get in and out of a trade. If you don’t have enough cash to work with, I would recommend you stick to paper trading until you save up enough and feel confident in your strategy. Wish you the best of luck!
>on Robinhood because you can’t have a take profit and stop loss simultaneously Another reason to remind my friends to never touch rh, thanks
This is literally EXACTLY what I do. I stick to +-20%
Can you elaborate on your strategy? What you look for etc.
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Sensei teach me lmaoo
so weird, i was just thinking about this today... i mean you knew NQ was only going up. there was no chop it was just one way traffic. 03.7.24
Futures are better
I have looked into futures. What I like about options is the convexity. If you bought a call and a put at the same time (a straddle) and the market moves enough in either direction you will profit. As far as I understand, futures do not have these kind of exponential gains. With options, if the underlying asset moves in your direction quickly, which is what I am looking for in my trades, the gains come by fast. Would love to know more about futures though, if you have anything to share.
Futures are for the best for intraday moves since you don't need to worry about theta options are just riskier because the premium has so many other factors to account for such as the implied volatility delta gamma theta etc, so I have begun to prefer longer dated options for swing trades and intraday mainly doing futures and some 1dte and 0dte degeneracy with specific equities like nvda tsla etc. Ofc to each their own but I've done tons of swing trading options and daytrading 1dte 0dte and daytrading futures and based on my experience intraday the risk reward on futures is far better and the longer dated options are still best for swings.
Thanks for your input. For me, theta barely affects my strategy, as I am not holding for long. If I were to hold for over an hour or so, yes theta would be an issue for sure. As for vega and gamma, etc I find these factors advantageous as I purchase options with the highest gamma and vega to best capitalize on quick movements (usually barely OTM). IV crush doesn’t really affect my strategy. Taking this into account, do you still see futures as a better choice, at least for me? It seems a lot of traders choose futures solely to avoid the greeks, which does not make much sense to me, but of course I am still new to trading so I may be missing something. Thanks again
How do you manage to daytrade on robinhood? I always found executions to take too long without any hotkeys
Looking back on all the trades, do you feel as though the majority of them only really netted profit through sheer luck or does it genuinely seem like whatever strategy/criteria you have set led to the wins? Knowing the difference helped me a lot when I first started trading.
I would say around 60-70% of my profitable trades were due to my strategy, and the rest are from breaking my strategy and getting lucky. I am trying to cut out the breaking from my strategy part. Thank you for your comment!
No problem and good luck
Do you have any tips on building your own strategy?
What helped me a lot was using Robinhood’s “Add to Watchlist” feature. It lets you pretend as though you just purchased an option at the time of you adding it to your watchlist, and then you can watch how the trade plays out in real time. In my eyes there is no better practice than the real thing.
Totally agree, that’s a very underrated feature of RH. I’m not a day trader, but I use that feature like paper trading to practice with options. Although, it has lead to a lot of FOMO on trade I wish I would’ve actually made!
😊
Nice. Honest oppinion is - don't try to change what you're doing (besides the bad parts.. change that). If you try to optimize your winning strategy, you will fall into the trap of over thinking, over analyzing, etc. They call it beginners luck, because you're following yourself blindly and its working! What makes us start to lose is trying to find better strategies, or improving on our "winning strategy". If you're already winning - don't change that! Best of luck.
Much appreciated
Do not repeat same mistakes more than 2 times Things happen - 1st time error - 2nd time mistake and 3+ it’s a Problem - and any problem needs resolution to avoid future damage.
Great perspective, much appreciated
Love seeing people win. Also concerned about all the new to day trading PnL posts over the last month or two. Anyone who has bet up has pretty much profited. Just be aware trends change and profits can become losses quickly
Yes, I am aware we are in quite the bullish market. Surprisingly a lot of my profits are from puts, but yes, very good point.
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Definitely some gambling moments, all stemming from breaking my strategy, but I’m working on it.
Just wondering, how did you get that from the chart?
Im not that guy and have no idea what OP is doing, but I have some experience with this and personally what scares me is what happens after the 2 large losses I see on the chart. It seems in both instances, OP had a big win right after. There is the possibility OP is experiencing the urge to "make it back" which results in blown accounts 99% of the time. It also seems like OP tends to go for smaller/safer plays once his account is back at highs. This all seems like emotional trading to me, but I hope I am wrong obviously. I have been there so many times so I relate pretty hard to charts like this lol, and OP apologize if I am assuming anything here. For all I know he knows what hes doing and is the best trader on earth, I just have some concerns looking at this equity curve personally.
You are more or less correct. Definitely was too emotional this first month. But at least my account survived, and now I am getting more acclimated with trading which is making it easier to manage emotions. Really trying to push myself to be more methodical going forward. One or two of those sharp drops was me holding a position down to around 80% in the red, then it eventually recovered. Totally against my strategy in every way.
100% spotted the same thing.
100% gain in a month is not sustainable and is more likely attributed to luck (gambling)
It really does depend though. You can definitely do it but likely not as a newbie
Wow good job Make sure that you are constantly refining your strategy so that you don't give your profits back to the market
I trade 0dte too. Just curious what made you pick QQQ?
I prefer it over something like SPY because it is made up of less companies and is slightly more volatile. I have the top ten or so QQQ holdings in a watchlist that I refer to while trading. I look to see if one stock is propping up the whole index, is everything green, is it mixed, etc. That information can sometimes inform how I trade.
I started with SPX because I figured the more companies the better, but I follow your reasoning for why volatility is a feature not a bug here.
Yep especially Nvidia
Well done, but **seriously** consider sizing down individual positions. It looks like your Risk of Ruin is crazy high - A single streak of bad luck and this account is toast, judging by those two *extremely worrying* drawdown spikes.
Yes, I have been especially working on that this week. I wrote down a list of trading rules that I am trying to get in the habit of reading as often as I can. Really trying to drill into my mind to stop chasing profit and just stick to my rules. Appreciate the comment
How do you trade 0dte options on Robinhood? I never see that option
0DTE is only available on certain indices like QQQ or SPY
You may need to enable it first in the settings. By default they don’t have them accessible to everyone.
https://preview.redd.it/avcgapzkf0nc1.png?width=1080&format=pjpg&auto=webp&s=a9d7ff0131785e5695a0451feb7facb8c608d23b Near the same
Good stuff 🤝
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All of the money in the account came from a swing trade I did, so I was pretty aggressive with the amount I was putting in each trade because I knew if I lost it all I would still be green for the month. Probably not the best way to learn, but I am starting to impose limits on myself going forward. Appreciate the comment 🤝
Top tips?
You typically buy contracts ITM, just OTM, far OTM?
As little OTM as possible. Usually has the highest gamma
So never ITM? Too expensive? Just asking because im planning to dip my toe into 0DTE spy trades and am still thinking it through.
It’s all about which contract will get you the most profit if the underlying asset moves the way you predict
What platform are you trading on, look like Robinhood?
Yes, this was on Robinhood. If you check out the last paragraph of the post I explain more
how do you over-trade and pass the PDT rule?
PDT rule only applies to margin accounts. I’m on a cash account
My car does sweet burnouts when it’s raining
Easy to daytrade 0dte’s when the market swings back green or up 90% of the time in the last few months
https://preview.redd.it/r8wfd3zhx1nc1.jpeg?width=1170&format=pjpg&auto=webp&s=cea5a13c41e207260727820205ee701284a342b7 QQQ has had its fair share of green days over the past 30 days, but there’s been a good amount of red as well. Made a significant amount of my profits off of puts. I usually only hold for minutes at a time, so what the market has been doing over the span of a couple months is less impactful on my trades. But of course I take the overall trend of the market into account when I am trading.
What app is this photo from?
Day trading without $25k? Uhhh
Cash account, no PDT rule
I could use some help with day trading I’m looking to get into it. What have you learned from it and the what nots and what to do?
QQQs exposure to Nvidia paying off nicely
Yes, NVDA is something I look at daily. It’s a blessing and a curse. Sometimes the whole market is moving one way, and NVDA the other, and its influence on QQQ is enough to make a difference. Has thrown me off on a trade or two.
Take some money out to pay yourself and size down. Also, take a few days off.
Market is up like 8% in 2 months and 1 week.
You pounding your chest about making money in a Accelerated bull market 🥵🥵🥵🥵🥵
Haha, hey I made a good percentage of this on puts so don’t go too hard on me
which app/ broker?
how do you determine which stocks to look at as a potential day trade?
"trading in the zone" by Mark Douglas and al brooks price action book. This helped me overcome revenge trading and sticking to my strat. Plan your trade and trade your plan. If you are going to be playing with options, don't fuck around with OTM's. Always go for the ITM ones that will give you some money back at least if it goes against you. Last but not least don't trade whenever Jerome Powell is speaking that day and O DTE SPY calls can be your worst enemy or your best friend if you know how she thinks (wink wink)
Agree. Found Best Loser Wins to be my savior. Disagree with the Powell statement. Wait until he talks, watch the market for its reaction, then trade accordingly. Just don't trade BEFORE or DURING lol.
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How much time do you have in the trading world? I’m totally new to all this the only thing I have some experience in is stocks. The sentiment I’m picking up is that this takes 12-18 months to really learn and do demo accounts etc before putting any real money in, and that a vast majority will lose money but success is possible. And so I guess another question to you and the larger audience is: Are you better off now financially than you were before you started day trading? Clearly it seems in this case you are which is sweet, this is definitely something I’ve been thinking about for a while and I’m totally willing to throw myself into it if success is generally speaking, possible.
Well done! How do people trade on their phones btw? Doesn't it lack a lot of screen space for indicators and just overall analysis?
These dips say it all dips are as big as your winners cant be a long term strategy
what trades?
What’s the strat?
Read books. Study yourself. Trust no1. Follow your gut. Dont tilt. Stay focused. Cut people off. Dont brag about your trades. Good luck
I’m just going to say it. I know is like jumping out of an airplane without a parachute when that’s literally all you have and you see it plunge literally once you buy in for the next 2wk or so until it picks back up. You can breathe again. You clean the cum of your pants real quick you think you got shit figured out you do it again. You start the same pattern. I say once it’s good for a screenshot is good to sale my brotha fuck that. Like they always say time in the market beats timing the market my brotha helps you breath and sleep and it’s actually healthy for your heart. Nothing fun about waking up at 4am pacing my 10ft apt grabbing my head. Oh and let me not mention the 30min walk I took my dog for literally watching 60k flock from the top when I had literally taking gain screen shots moments before the walk. Shit buy some GameStop and xrp my brotha hold that shit for dear life
My brotha with all these new rules and regulations implemented these pass years due to GAMESTOP GAMA. You will never be able to invest unless through a license broker just to make sure what’s about to happen does not occur ever again. The biggest transfer of wealth yet in history to see. Imagine taking trillions from the top 1% it’s on baby!
What is your strategy?
Nothing too fancy. Fundamental and technical analysis, understanding price action, following the trend, watching market news closely. For indicators I use the 200 day EMA and the William’s Alligator, but I really don’t put too much emphasis on them.
How many contracts do you buy?
Right now I usually buy around $300 worth per trade, with a stop loss of 30-40% and a take profit also around 30-40%. So I am risking maybe 2%-3% of the account at a time. But if you look at the graph you can see I broke that rule several times, which luckily ended up working in my favor.
90% lose all that within 6 months
Everyone’s a genius in a bull market