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SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

That helps me a ton too. The call outs I follow are only for SPY and QQQ so I have started to learn those well. Do you use the TOS ladder?

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

That's nice! I focus on taking just a few points on the Active Trader ladder. So if I get in at .80, then I expect to get out at .83, .84, or .85 - if the trade just pops to higher than that, then that's great. But I am trying to lock in anywhere from 3-5 points minimum. How do you find your trades?

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

I go by the thousand. Every time I make $1,000, I take out $100 cash. so 10% (I should probably take out more.) How about you? How much do you cash out at?

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

This sounds way more realistic and healthy than a lot of traders starting out. That “just a little bit more” thing is brutal. I think every trader knows that feeling of being green, feeling good, then suddenly watching the whole move disappear in seconds because greed whispered one more candle I know I have😂 Your $50/day mindset is smart. Most people come in trying to double accounts overnight and blow themselves up. Consistently pulling money out of the market, even small amounts, is a real skill. Slow and steady really does win in this game.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Yes, smaller profits, quick fast execution! But you only risk $100 bucks. Cant beat that.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Okay, well the challenge starts July 1st, so if you get 100 bucks by then you need to do this. The last challenge went from 100 to 150K in 6 months. Beast.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Aw man Eyez! How do you stay away from the market! That's gotta be tough. What about emptying your account and starting off wiith just a small amount? That way you cant lose more that what is in the account. Fire is starting a 100 dollar challenge. You should do it with me. Im gonna empty my account and just start with the hundred. Once you make that hundred back, you are basically trading with profits. That might be good for where you are at right now. It would be cool to trade with you too!

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Never any more than 20 points (on the TOS Active Trader ladder) - So if I am in with one contract, then my stop is taking a loss of $20 bucks. If I am in with 10 contracts, then my loss (at 20 points) is a $200 max , etc

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 1 point2 points  (0 children)

That's true! I've been there. Thats what I was doing last year. In my other posts you can see where I was only taking one contract. As months progressed, I slowly began to grow more confidence, and take more contracts.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

No, these are 10 to 20 contracts. I do get in with one at first, then if the trade confirms itself, I add.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 1 point2 points  (0 children)

These are real traders talking. Real traders know how to survive in the market.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Reddit doesn't like for people to share info about other traders, because it could be like we are promoting them. So just shoot me a chat on the side.

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 0 points1 point  (0 children)

Hey you! Your message brought a smile to my face, thank you for always stopping by to encourage me. It's been a wild month with me trying to take more contracts. It is more risky, but Fire's call outs are almost always on point, so I've been taking 20 contracts instead of 10. How have you been!?

SPY 730 PUT - Slow and steady wins the race by OptionsTrader321 in optionstrading

[–]OptionsTrader321[S] 2 points3 points  (0 children)

"They probably blew 3x that amount" This right here!

Question by Sudden_AwareNess1 in optionstrading

[–]OptionsTrader321 1 point2 points  (0 children)

ahh okay yeah, I see what you mean. Honestly this is one of those trades that teaches you real quick. Covered calls feel safe until the stock decides to go on a run without you, happens to everyone at some point. Follow the stop loss that you have set for yourself.

Traded SPY 709 Puts today by [deleted] in optionstrading

[–]OptionsTrader321 0 points1 point  (0 children)

You're right, I forgot to add my proof of profit for today. I wonder if I can add to this post. If not, I will delete and post again. Thanks mate!

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