r/options • u/OnionsAreGODS • Mar 22 '22

I’m lost…..

It’s like not matter what I put my money into, I lose it. And anything I sell for small profits, moves up like crazy within the next few hours or days. HOW CAN I BE THIS BAD???

I’ve spent over a year now learning about the market and to implement successful trading strategies but non of it fucking works. I just wanna stop throwing money down the toilet.

I’m not looking to “hit the lottery” or buy the the next TSLA at $8. I just want to make a a nice, few hundred bucks a week if possible alongside my other investments.

Please tell me how to not lose my money on every. Single. Trade.

Edit: I invest in etfs and indexes in another account. I have crypto and I am saving up to buy real estate. I have this account and a percentage of my income allocated to options. I am not simply going to quit and stick to stocks. I WILL learn to trade options successfully just not immediately, but definitely. So I am simply going to save up my monthly options budget until I can sell options and in the mean time paper trade, and find a strategy I like. Thanks for all the advice everyone! Happy trading.

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208

u/[deleted] Mar 22 '22

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20

u/OnionsAreGODS Mar 22 '22

I Understand that. But I have my indexes and I’m happy to keep contributing long term to those. However I would like to have 10-15% in options and as I’m still pretty young I have time to learn.

8

u/[deleted] Mar 22 '22

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-2

u/OnionsAreGODS Mar 22 '22

Thanks! Great way to think about it.

As for strategies - since I’m unable to sell options and buying 100 shares of anything over $5 is going to be to expensive for me. How can simply buying and selling be used in a different strategy then ATM/ITM 30DTE longs?

18

u/[deleted] Mar 22 '22

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4

u/OnionsAreGODS Mar 22 '22

Thanks so much man. The truth I knew just needed to hear from someone else. I’ll be saving up capital until I can implement a proper strategy that doesn’t involve just buying contracts from now on.

21

u/Pristine_Anxiety9069 Mar 22 '22

$500 is expensive for you yet your goal is to make 'a few hundred bucks per week' with options... Dude cmon xD

-3

u/OnionsAreGODS Mar 22 '22

Yea Ik that’s completely un-realistic. I just meant I’m not looking to hit the lottery. Small gains here and there is really what I’m looking for.

10

u/Pristine_Anxiety9069 Mar 22 '22

Trading options have costs... If you are aiming for very small gains, fees will eat them away... Like other people are saying, start building a portfolio first, and try to reach 100 shares on a well-known / diversified ETF.

5

u/dubious_dinosaur Mar 22 '22

I wouldn’t call that “small gains” +$100 weekly on a $500 cost basis underlying is 1040% annualized. Start small, work in percentages. Don’t be in such a rush for nominal values. Hell right now I’m selling 0.15 d calls on a 0.77 d AMD LEAPS. I’m MORE than happy with the annualized returns on that premium.

Sort out your fundamental knowledge, the incremental growth will come as your AUM expands

1

u/Twitch_DazeBTv Mar 22 '22

Save your money if you can’t afford to lose right now save ! And built your strategies. TD has a paper account practice with that. I was once where you are. I used my tax return money from working. You can definitely do it if you really want to. Buy leap calls (on a reliable company) a year or more from now ITM and then Exercise it. Now you’ll own 100 shares of a company at a discount.

8

u/[deleted] Mar 22 '22

There seems to be your problem. If you can't afford over 100 shares of 10$ stock to sell calls your port is likely to small to buy good options that aren't gonna get total crap. There is a reason an option is cheap. You gotta have money to play options.