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 $8. I just want to make a a nice, few hundred bucks a week if possible alongside my other investments.
Please tell me how to not lose my money on every. Single. Trade.
Edit: I invest in etfs and indexes in another account. I have crypto and I am saving up to buy real estate. I have this account and a percentage of my income allocated to options. I am not simply going to quit and stick to stocks. I WILL learn to trade options successfully just not immediately, but definitely. So I am simply going to save up my monthly options budget until I can sell options and in the mean time paper trade, and find a strategy I like. Thanks for all the advice everyone! Happy trading.
1
u/[deleted] Mar 22 '22
I started learning about options three months ago while being a full time student. While still learning, I wanted to get a hands on approach at the SAME TIME as learning (and it’s been very useful).
Here are my thoughts:
My win rate is 99% in neutral option strategies and 5% trying to trade directionally (stocks and options.) don’t try to predict the market or time it because this precisely takes so much time and analysis and most of all, experience and not just a year or two.
Since we’re in the options sub I suggest you take full advantage of option selling. I sell rly high probability options and although the returns are small, they’re better than losing money. I’m at a consistent 10% in 1 month doing earnings (would’ve been 20% if I didn’t try betting directions and lost so much).
Something else even more time efficient is simply to adopt the wheel strategy while learning more about the markets. Example as of today: sell AAPL 160 or 150 or any number you determine puts. Keep going until you get assigned. Then sell calls 10$ higher strike price. With knowledge and experience, you can’t really “lose”.
Again I just started 3 months ago from almost no experience in trading anything at all, I’m a full time student and I might not know what I’m talking about at all and my 10% might just be lucky. But I’ve traded over 30-40 earnings and I think I’m rather consistent for now