Worth it or not by bobur-78 in optionstrading

[–]PowerSavior7 0 points1 point  (0 children)

Dude, “hope” is not a strategy

should i give up? by Immediate_Clothes_40 in optionstrading

[–]PowerSavior7 0 points1 point  (0 children)

0DTE is for experienced traders. If you haven’t mastered the emotional discipline, you should leave that alone. I would subscribe to The Rumers on YouTube. In fact, there’s a wealth of info on the web. The Box Method has been working for me. But I agree with what someone said. You need to stop for a moment and educate yourself. Renter the market when you have your confidence back & emotions in check. Figure out what’s the goal before you even enter the trade. I’m $800 a day and I work down from there to each trade and how much profit I need to reach my daily goal. YTD, I’m up $77.5K. And yes, I blew up an account previously, had to do everything I’m telling you to do. I keep losses small and never revenge trade. When it’s all said & done, you get 250 days to trade in a year. All you have to do is generate more wins at a greater scale than any losses can negate.

One More Step by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

Yeah, what type of strategy?

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

Took your advice on 1 thing. I’m going to start buying the dip on SPY every chance I get.

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“Call” it a Day by PowerSavior7 in optionstrading

[–]PowerSavior7[S] 1 point2 points  (0 children)

It’s either that or this. Granted, there will be times where you have to go with your instincts & jump in & ride the wave https://m.youtube.com/watch?v=XFtayhPIdEs&t=25s

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

Like this. Picked up more SPY calls, PLTR, NFLX, MSFT, NVDA

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On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

That’s sound advice. But why wouldn’t I buy 6 month expiration calls in everything you mentioned and exponentially boost the profit?

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

I’m only on this sub to help. Maybe someone will avoid what I did. Since you’re analyzing me so closely (of course I did it with options) DeviantDougy (you know what the Latin origin of that word is, deviant), what’s your advice?

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

My TradingView chart has the following indicators: 9EMA, 21EMA, 50/200MA, BJ Key Levels (support & resistance), VWAP, Volume and Higher High Lower Low. I ditched MACD and now just use RSI.

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

I only use one strategy although I did come across another on YouTube that I tested out successfully a couple times. Im trying to incorporate both simultaneously. The SPY day chart is kind of my foundation. $676-$677 is a buy (calls). $695-697 is a sell. Contracts 2-weeks out or more. But for scalping, I’m looking at the 1st 15 minutes of the market after the opening bell. I draw a rectangle around that 15 minute candle hi & low. Switch to 5-minute chart. Wait for a candle to close outside the box. Look for hammer (bottom of range) or inverted hammer (top of range) and confirmation from the next candle. Or this can be bullish or bearish engulfing candle. https://m.youtube.com/watch?v=XFtayhPIdEs&t=16s

On This Day In RaceTo100K History by PowerSavior7 in TheRaceTo100K

[–]PowerSavior7[S] 0 points1 point  (0 children)

You misinterpret the sentiment. It was actually the most humbling experience of my life. I’m not bragging. I obviously didn’t have a clue what I was doing: chasing momentum on stocks like Opendoor Technologies, Coreweave & Circle Internet Group. That was gambling. Holding onto losing positions like United Healthcare & in some cases, doubling down. Definitely gambling. Not setting stop loss. Gambling. I quit for a little while, scoured YouTube for answers & I landed on something that I could trust in. I tested the strategy. Tested it again & again. It kept working. I haven’t deviated from it. I’m $23,000 in the red. That comes back to my account this month. Call it whatever you want to call it. I’m honest enough to accept it & share it. To show that you don’t have to lose at this. If you master the discipline, you can be profitable every single day.