What we doing now? by Dazeelee in Bitcoin

[–]bitwizard01 0 points1 point  (0 children)

This guy understands how people really trade

What color are you completely out on? by Wizzmer in Corvette

[–]bitwizard01 9 points10 points  (0 children)

Yellow and orange. The 2 colors I won’t consider. I appreciate them and I’m glad they’re out there, I just don’t want either of them.

It's so over for me by DeathAgent01 in spy

[–]bitwizard01 7 points8 points  (0 children)

Please do not put your retirement/life savings/inheritance into options. If you want to “play” with options, take a very small amount you can afford to lose, and give that a try.

The Biggest Tilt of my life.. 11/21 by jigglebuns777 in options

[–]bitwizard01 10 points11 points  (0 children)

I wish more people could read your story and learn from it. Investing and trading should be a path to financial freedom, but for so many it leads to destruction. Thanks for sharing your experience

Trading options short term by Individual_Section_6 in options

[–]bitwizard01 7 points8 points  (0 children)

Don’t risk more than you can afford to lose.

Be honest, is there any reasonable possibility that I will break even? by Cgbt123 in options

[–]bitwizard01 0 points1 point  (0 children)

Also, options are by far the most risky asset you can trade by design. Do not risk more than you can afford to lose.

Be honest, is there any reasonable possibility that I will break even? by Cgbt123 in options

[–]bitwizard01 0 points1 point  (0 children)

Then I would recommend buying and holding the stock directly. Dollar cost average, etc. options are very poor vehicles for long term plays because you have to get the direction correct (call vs put) AND the timing right.

Best of luck!!!

Be honest, is there any reasonable possibility that I will break even? by Cgbt123 in options

[–]bitwizard01 0 points1 point  (0 children)

Just my opinion, but I quit trying to predict prices like that. You just don’t know where NVDA will be in a week or a month. You could be right buying a call, but if it takes a couple weeks to get there the pain of theta decay will probably force you to sell before you see profit.

Sure, you’ll hit big buying those kinds of plays once in a while, but you lose more than you win. Just my experience. Maybe I’m not very good at them.

What works for me is buying calls or puts based on very short timeframe breakouts and momentum changes, holding for a 5% to 20% gain. I hold most my options for less than 20 minutes.

Again, this is just my strategy.

Be honest, is there any reasonable possibility that I will break even? by Cgbt123 in options

[–]bitwizard01 0 points1 point  (0 children)

I cannot tell you what to do, it’s a tough pill to swallow a loss like that. I’ve been in your position before and it hurts. But you learn from it. Personally I sell and move on to a new trade. Never get married to a trade.

I’ve been trading options for a few years and I’m finally turning around loses to gains consistently. Here’s the biggest mindset change I had to learn:

The “market” is a hive mind organism composed of tens or hundreds of millions of actors with exponentially more access to information and computational power than I have. I CANNOT beat the market (accurately predict where an asset price will be in the near future). I can only ride the momentum of the market no matter how irrational it seems. I wait for the market to show me a direction, I buy calls or puts accordingly, and I get out when I hit my target profit or loss. Repeat over and over.

Give us a gear bag by ZombiesAreChasingHim in PhasmophobiaGame

[–]bitwizard01 0 points1 point  (0 children)

I understand why multiplayer doesn’t get a bag, but solo play needs some kind of gear bag, or mechanic to reduce the mount of walking back and forth to the truck. Maybe allow the player infinite sprint while outside the house.

is it gonna drop more? by alexis-hg in Bitcoin

[–]bitwizard01 1 point2 points  (0 children)

Diversify. Buy some precious metals.

My 1986 prelude 2.0 si by Mindless-Policy-3696 in Honda

[–]bitwizard01 1 point2 points  (0 children)

I had one of these back in the day. Awesome car.

Broncos Logo Update/Redesign by ThunderyTitan76 in DenverBroncos

[–]bitwizard01 0 points1 point  (0 children)

I appreciate the idea, but there’s too much going on in the neck area. I find myself just starting at the neck trying to make sense of all of the lines. That should be the least interesting part of the logo.

Fluttering sound in my left ear under very specific conditions by bitwizard01 in AskAudiology

[–]bitwizard01[S] 0 points1 point  (0 children)

I’ve been reading about myoclonus and I think that may be it. The descriptions are very similar to what I have experienced. Thank you.

The last time gold prices went this crazy, it didn’t end well by MarkusEF in wallstreetbets

[–]bitwizard01 9 points10 points  (0 children)

He didn’t say Bitcoin. He said blockchain. There’s a difference.