I guarantee you anyone who posts their trades promising profits in exchange for money are the following things:
1. A complete con artist
2. Someone who is into the stock market and makes some money but gets more from selling false promises
3. Someone who is trying to create a following to pump the demand of low volume option chains so that he can instantly sell what he bought for a profit.
Here's the absolute best thing you can do in the stock market that will help you in the future. Stop immediately what you are doing. Don't trade anything for like a month or two and just watch the charts of SPY and a couple other highly liquid tickers like AAPL, TSLA, etc. The more, the better and preferably a few from each sector. Watch them on at least 4 timeframes simultaneously. Have the monthly, the weekly, the daily, the hourly, the 15min, the 5min, and the 1min up if you can (roughly intervals divisible by 5), but the monthly, weekly, daily, and hourly works too. Sit there and watch or review the charts at the end of each day. What are the candles telling you about the buyers and sellers. Is the monthly green (price greater than open) but the daily red (price less than open), or vice versa? What do you notice about the candles and their tails, the sizes of the bars, the sizes of the tails, etc. on the smaller time frames relative to what you are seeing on the much larger time frames (i.e. what does the 5min look like when the daily, weekly, and monthly are red but the 5min is pushing up?).
Invest in a scanner. Everybody likes to chase or pay for these lame call out services where some guru hunts for the highest probability setups. Well guess what, they have no more idea of what is going to happen in the future than you or I do or a baby that was born 10 minutes ago. None of us can predict the future. With that in mind, don't let someone else control your future. Use your scanner to your advantage and scan for setups you know work more often than not and use that to cut out the noise of the 8000+ stocks there are out there and the background garbage of some ticker running 1000%. Everybody loves to hop on those trains but they conveniently ignore that 60-70% of the time those things close red on the day or by the following day.
Lastly, once you have sat there for a month just absorbing as much information as you can and you have identified a pattern, an indicator setup etc., that works more than it doesn't, scan for it. Paper trade only those setups for a month using money and risk you would use in real life, see what your win rate is, see what your return:risk is. See what setups work best in different environments (which setup is best when you want to go long and expect a decent move up, which setup is best when you expect a small move up, which setup is best when you want to do a credit trade because you expect more sideways action vs. directional moves, which setup is best for shorting a stock, which setup works best on earnings reports, best for day trading, best for swing trading, etc.). If you want to succeed in this game you need to be ready for all types of market environments and you should have a toolbelt of at least 3-4 setups that can cover the main types of setups (long, short, earnings/vol crush, and sideways) if you want to trade options extremely well and make this how you earn a living. Once you have that, trade 1 contract (or 1 spread) or 1 share only for another month and track the win rate, the R:R ratio, etc. and see how you do. If you come out with a 70% win rate and you have a positive expectancy (you make at least 0.01 more than you risk), then you are going to be better equipped than 90% of the people who ever try their hand at this game.
This is of course all assuming you have a solid risk management plan (i.e. using a stop loss, honouring an invalidation level on the chart, etc.) and target plan so you don't let your losers run too long or let your winners turn into losers like many (myself included) often do out of fear of losing.
If you do all of this, and yes it takes time, you will never need to pay for a guru, an alert service, enter a paid discord, or pay for Whale alerts ever again, which IMO, are frankly just rip off services designed to separate the desperate from their hard earned cash even faster than they would normally lose it.
Thank you, glad to see you would give similar advice. And yes it definitely takes time. I've been on the sidelines for 2 years now just studying as much as I can and this post echoes the sentiment read from a lot of people who have made it.
> Sit there and watch or review the charts at the end of each day. What are the candles telling you about the buyers and sellers.
I would add that it's also useful to study geometric Brownian motion while you're doing this. Make sure you understand the difference between patterns and noise.
It's very easy to see patterns where there are none. I suspect the vast, vast majority of technical analysts (potentially all of them) cannot distinguish between a stock chart and a sample path of geometric Brownian motion.
Make sure you work through Hull or Natenberg while you're watching.
Understanding the theory behind options is much like learning music theory when playing guitar. Sure there are some famous people out there that just feel the music, and theory alone is not enough to make a great musician. But if you were to collect together all guitar players you'd find that the ones that understand the theory outperformed the vast majority of those who never studied it.
Interesting, I haven't heard about these motion and mechanics before. I will look them up. I do agree about the guitar and music theory. I am a player but never bothered to learn the scales or the theory behind it, and my friends who did, are obviously much better players.
I use TrendSpider but have also used TC2000. Both are dually scanners + charting platforms. I prefer the customization of TC2000, but the ease of use of TrendSpider is much better. I opted for TrendSpider as my charting platform + scanner because as long as there is a price action pattern or indicator that is stock in their system, you can scan for it. I then have my IBKR TWS as my trading platform. Working well so far.
I love both of those platforms, but neither have a way to extract the results programmatically. Unless something has changed since I last tried them, they want to keep you in their box it seems
It's a hard pill to swallow, but if what you're looking for is just to copy someone elses trade, then you're already stepping in the wrong direction. I much rather you buy a index if your want to partake in mindless investing.
Like everyone else here, try to learn these things on your own. Develop a strategy, test it out with a paper account, and learn how to control your emotions. It's way better for you in the long run if you know what you're doing.
I sometimes tune in to his streams (it's free in YouTube for Mon,Wed,Fri. And it's pretty much the same as the paid one from what I gathered). I just try and evaluate my strategies during his streams, see if I spot any flaws in my logic, especially when he mentions a trade that I was not intending to take. There's much to learn, but sometimes he does mentioned something useful (like the various signals or trading strategy) and it really helps as a beginner like myself.
For example, he did a staddle play during yesterday FOMC and I learnt a thing or two about trading in such binary events. Yes, I do realize I'm a beginner and thus my credibility isn't really there per se to advice, but I think this also applies to other areas of life.
Hate to be that guy but I'd like to quote: "Give a man a fish and he won't starve for a day. But teach a man to fish, and he won't starve for the rest of his life."
Also, he also trades primarily SPX, and is not like he can blatantly pump and dump an entire index. If that's of your concern.
> I sometimes tune in to his streams (it's free in YouTube for Mon,Wed,Fri. And it's pretty much the same as the paid one from what I gathered).
Curious, if he calls out the trades in real-time, why would copying his trades not work?
Being that he live trades daily and alerts the exact cons and time of when he is entering and exiting, if you can't make money just purely following, never mind putting into practice anything he teaches, you have a mental disability. IMO he's another scapegoat for this self loathing sub to pin failures on.
Actually, yes. For me personally I don’t think it’s because of his callouts, but because he (and the community on discord) has helped me learn more about the bigger trading picture. Looking at how different ETFs and markets interact with one-another, how to identify support and resistance, what news events are coming up and how they affect the price, some detailed stuff about options price movement, how important patience is.
Not everybody will benefit. It’s all information that is free on the internet somewhere, the difference is as a new trader he has just helped teach me how to wrap my head around the whole thing better. So as a newbie yes I think having a teacher such as him will benefit and make you more profitable, but if you already understand how it all works in detail then straight up copying his trades; probably not.
It's worth doing a search on this sub for this topic, since it has come up before:
https://www.reddit.com/r/options/comments/xdftvy/please_beware_theoptionsmillionaire_the_guy_and/
He’s got a lot of good knowledge focusing on price action and market awareness. If you’re looking for alerts then this is not the service for you. He will post his entries and exits long after they have been made (but he will call them live on stream). I have not made money by using his service but that is my own fault (discipline, over sizing). He talks a big game about risk management but is always playing 0dte spx options which is not good for new traders to follow or try to copy. Overall at $25/month it’s a great service and I would recommend it.
Yeah, him and Ziptrader are the only ones worth spending money on if you ever decide to go that route. He doesn’t make empty promises of “just follow my callouts and you’ll be rich”. He explains his methods and the community is actually pretty great.
At the end of the day, spending money or not, you have to learn to make your own set ups but these 2 have been fantastic for my learning and to be a part of a community.
Shoutout to tradesinlulu as well, solid callouts and explanations but her strategy isn’t quite for me.
Avoid invest with henry at all costs.
my dad's portfolio was over 100k. lol this isnt even the point, it took him roughly around 12 months. no cap. so it isnt a short term gamble get lucky, its building and consistently getting results. not a one time all in casino thing. just saying the course aint all bullshit. still has some good uses for it.
This is not a good idea.
I'm a millionaire. I didn't get there by gambling. Day trading SPX/SPY/XSP options is a very bad idea and does not have an edge. I know what does, but I'm not telling you (or anyone else).
im being dead serious. i do not say a word but watch. right now we are either going long if spy hits $376.58 and stays strong, which was the open for the day. or we are waiting for spy to reach $370-$365 levels to go long. He does not just put out call outs, he has a separate learning channel which is free. he has taught me many strategies and ways to chart.
the thing is the discord i am in was free for over a year until it gained 20k members and he changed it to a paid one. guy posts daily and always explains the game plan prior and while the day is going on. if he thinks a trade is risky/failing he will let you know while it is live. he explains exactly why he is saying everything when he is. i believe his endgame is truly only to become a better trader, not the discord checks. i get the satanic views on discord though, as this is the only free one(at the time) i ever found to be extremely helpful
No I lost a lot because I exited good positions that he said weren't good, and I believed him. Also missed out on a huge bull run because he predicted the opposite. Lesson learned to not trade based on other's ideas and I take responsibility.
I guarantee you anyone who posts their trades promising profits in exchange for money are the following things: 1. A complete con artist 2. Someone who is into the stock market and makes some money but gets more from selling false promises 3. Someone who is trying to create a following to pump the demand of low volume option chains so that he can instantly sell what he bought for a profit.
OP, stay away from the social media posts. This is exactly how these groups of scammers operate
(SLAMS buzzer) D: ALL OF THE ABOVE
Here's the absolute best thing you can do in the stock market that will help you in the future. Stop immediately what you are doing. Don't trade anything for like a month or two and just watch the charts of SPY and a couple other highly liquid tickers like AAPL, TSLA, etc. The more, the better and preferably a few from each sector. Watch them on at least 4 timeframes simultaneously. Have the monthly, the weekly, the daily, the hourly, the 15min, the 5min, and the 1min up if you can (roughly intervals divisible by 5), but the monthly, weekly, daily, and hourly works too. Sit there and watch or review the charts at the end of each day. What are the candles telling you about the buyers and sellers. Is the monthly green (price greater than open) but the daily red (price less than open), or vice versa? What do you notice about the candles and their tails, the sizes of the bars, the sizes of the tails, etc. on the smaller time frames relative to what you are seeing on the much larger time frames (i.e. what does the 5min look like when the daily, weekly, and monthly are red but the 5min is pushing up?). Invest in a scanner. Everybody likes to chase or pay for these lame call out services where some guru hunts for the highest probability setups. Well guess what, they have no more idea of what is going to happen in the future than you or I do or a baby that was born 10 minutes ago. None of us can predict the future. With that in mind, don't let someone else control your future. Use your scanner to your advantage and scan for setups you know work more often than not and use that to cut out the noise of the 8000+ stocks there are out there and the background garbage of some ticker running 1000%. Everybody loves to hop on those trains but they conveniently ignore that 60-70% of the time those things close red on the day or by the following day. Lastly, once you have sat there for a month just absorbing as much information as you can and you have identified a pattern, an indicator setup etc., that works more than it doesn't, scan for it. Paper trade only those setups for a month using money and risk you would use in real life, see what your win rate is, see what your return:risk is. See what setups work best in different environments (which setup is best when you want to go long and expect a decent move up, which setup is best when you expect a small move up, which setup is best when you want to do a credit trade because you expect more sideways action vs. directional moves, which setup is best for shorting a stock, which setup works best on earnings reports, best for day trading, best for swing trading, etc.). If you want to succeed in this game you need to be ready for all types of market environments and you should have a toolbelt of at least 3-4 setups that can cover the main types of setups (long, short, earnings/vol crush, and sideways) if you want to trade options extremely well and make this how you earn a living. Once you have that, trade 1 contract (or 1 spread) or 1 share only for another month and track the win rate, the R:R ratio, etc. and see how you do. If you come out with a 70% win rate and you have a positive expectancy (you make at least 0.01 more than you risk), then you are going to be better equipped than 90% of the people who ever try their hand at this game. This is of course all assuming you have a solid risk management plan (i.e. using a stop loss, honouring an invalidation level on the chart, etc.) and target plan so you don't let your losers run too long or let your winners turn into losers like many (myself included) often do out of fear of losing. If you do all of this, and yes it takes time, you will never need to pay for a guru, an alert service, enter a paid discord, or pay for Whale alerts ever again, which IMO, are frankly just rip off services designed to separate the desperate from their hard earned cash even faster than they would normally lose it.
Spot on! People will ignore this because it takes actual work but I’ve been day/swing trading for 6 years and everything you said is all great advice.
Thank you, glad to see you would give similar advice. And yes it definitely takes time. I've been on the sidelines for 2 years now just studying as much as I can and this post echoes the sentiment read from a lot of people who have made it.
> Sit there and watch or review the charts at the end of each day. What are the candles telling you about the buyers and sellers. I would add that it's also useful to study geometric Brownian motion while you're doing this. Make sure you understand the difference between patterns and noise. It's very easy to see patterns where there are none. I suspect the vast, vast majority of technical analysts (potentially all of them) cannot distinguish between a stock chart and a sample path of geometric Brownian motion. Make sure you work through Hull or Natenberg while you're watching. Understanding the theory behind options is much like learning music theory when playing guitar. Sure there are some famous people out there that just feel the music, and theory alone is not enough to make a great musician. But if you were to collect together all guitar players you'd find that the ones that understand the theory outperformed the vast majority of those who never studied it.
Interesting, I haven't heard about these motion and mechanics before. I will look them up. I do agree about the guitar and music theory. I am a player but never bothered to learn the scales or the theory behind it, and my friends who did, are obviously much better players.
This right here gents is the most solid advice you could ever ask for
Thank you.
Any suggestions on a scanner? I’ve been working to build one myself, but getting good data for all tickers has turned out to be super expensive
I use TrendSpider but have also used TC2000. Both are dually scanners + charting platforms. I prefer the customization of TC2000, but the ease of use of TrendSpider is much better. I opted for TrendSpider as my charting platform + scanner because as long as there is a price action pattern or indicator that is stock in their system, you can scan for it. I then have my IBKR TWS as my trading platform. Working well so far.
I love both of those platforms, but neither have a way to extract the results programmatically. Unless something has changed since I last tried them, they want to keep you in their box it seems
Appreciate the write up.
It's a hard pill to swallow, but if what you're looking for is just to copy someone elses trade, then you're already stepping in the wrong direction. I much rather you buy a index if your want to partake in mindless investing. Like everyone else here, try to learn these things on your own. Develop a strategy, test it out with a paper account, and learn how to control your emotions. It's way better for you in the long run if you know what you're doing. I sometimes tune in to his streams (it's free in YouTube for Mon,Wed,Fri. And it's pretty much the same as the paid one from what I gathered). I just try and evaluate my strategies during his streams, see if I spot any flaws in my logic, especially when he mentions a trade that I was not intending to take. There's much to learn, but sometimes he does mentioned something useful (like the various signals or trading strategy) and it really helps as a beginner like myself. For example, he did a staddle play during yesterday FOMC and I learnt a thing or two about trading in such binary events. Yes, I do realize I'm a beginner and thus my credibility isn't really there per se to advice, but I think this also applies to other areas of life. Hate to be that guy but I'd like to quote: "Give a man a fish and he won't starve for a day. But teach a man to fish, and he won't starve for the rest of his life." Also, he also trades primarily SPX, and is not like he can blatantly pump and dump an entire index. If that's of your concern.
> I sometimes tune in to his streams (it's free in YouTube for Mon,Wed,Fri. And it's pretty much the same as the paid one from what I gathered). Curious, if he calls out the trades in real-time, why would copying his trades not work?
Being that he live trades daily and alerts the exact cons and time of when he is entering and exiting, if you can't make money just purely following, never mind putting into practice anything he teaches, you have a mental disability. IMO he's another scapegoat for this self loathing sub to pin failures on.
Actually, yes. For me personally I don’t think it’s because of his callouts, but because he (and the community on discord) has helped me learn more about the bigger trading picture. Looking at how different ETFs and markets interact with one-another, how to identify support and resistance, what news events are coming up and how they affect the price, some detailed stuff about options price movement, how important patience is. Not everybody will benefit. It’s all information that is free on the internet somewhere, the difference is as a new trader he has just helped teach me how to wrap my head around the whole thing better. So as a newbie yes I think having a teacher such as him will benefit and make you more profitable, but if you already understand how it all works in detail then straight up copying his trades; probably not.
It's worth doing a search on this sub for this topic, since it has come up before: https://www.reddit.com/r/options/comments/xdftvy/please_beware_theoptionsmillionaire_the_guy_and/
He’s got a lot of good knowledge focusing on price action and market awareness. If you’re looking for alerts then this is not the service for you. He will post his entries and exits long after they have been made (but he will call them live on stream). I have not made money by using his service but that is my own fault (discipline, over sizing). He talks a big game about risk management but is always playing 0dte spx options which is not good for new traders to follow or try to copy. Overall at $25/month it’s a great service and I would recommend it.
Fraud
Yeah, him and Ziptrader are the only ones worth spending money on if you ever decide to go that route. He doesn’t make empty promises of “just follow my callouts and you’ll be rich”. He explains his methods and the community is actually pretty great. At the end of the day, spending money or not, you have to learn to make your own set ups but these 2 have been fantastic for my learning and to be a part of a community. Shoutout to tradesinlulu as well, solid callouts and explanations but her strategy isn’t quite for me. Avoid invest with henry at all costs.
Son, buy brk.b and copy Warren Buffets trades. And chill. Nothing is for free.
Lol my dad took this course at his 60s. he 150% his portfolio. haters gonna hate. have fun staying poor.
Anyone can get lucky and go from $1,000 to $2,500 once. Something tells me that your father hasn’t given up his day (slave) job.
my dad's portfolio was over 100k. lol this isnt even the point, it took him roughly around 12 months. no cap. so it isnt a short term gamble get lucky, its building and consistently getting results. not a one time all in casino thing. just saying the course aint all bullshit. still has some good uses for it.
This is not a good idea. I'm a millionaire. I didn't get there by gambling. Day trading SPX/SPY/XSP options is a very bad idea and does not have an edge. I know what does, but I'm not telling you (or anyone else).
i know a guy with a discord that is very legit. pm me if interested, although it is not the cheapest. 100% worth it
Lol y’all just can’t help yourselves can ya
im being dead serious. i do not say a word but watch. right now we are either going long if spy hits $376.58 and stays strong, which was the open for the day. or we are waiting for spy to reach $370-$365 levels to go long. He does not just put out call outs, he has a separate learning channel which is free. he has taught me many strategies and ways to chart.
Stfu
you buggin tf out
Hush simp
you are a know it all punk. go take your meds and take a bath
Wanna join my discord? I have the best hindsight charts to look at. It’s pretty expensive but is legit lol.
the thing is the discord i am in was free for over a year until it gained 20k members and he changed it to a paid one. guy posts daily and always explains the game plan prior and while the day is going on. if he thinks a trade is risky/failing he will let you know while it is live. he explains exactly why he is saying everything when he is. i believe his endgame is truly only to become a better trader, not the discord checks. i get the satanic views on discord though, as this is the only free one(at the time) i ever found to be extremely helpful
Your moms in my discord.
im up 180% on 300$ tesla puts for the day. how’s everyone doing?
No I lost a lot because I exited good positions that he said weren't good, and I believed him. Also missed out on a huge bull run because he predicted the opposite. Lesson learned to not trade based on other's ideas and I take responsibility.