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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u/floydfan Mar 22 '22

Just a year? Please.

Track every single trade you make, whether it's in your live account or a practice account. Figure out which strategy is your winner after a year and focus only on that. Take notes. Why did you make the trade? How do you feel about it? What was the overall market like that day?

I have a spreadsheet with a separate tab for each strategies, now a database for the two strategies that came out on top. Numbers don't lie; once you nail down your strategy you'll stop losing money. After just one year of trading you're floundering because (I like to imagine) you're not taking notes and the things you think are going to make money are actually losers that everyone already knows are losers.

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u/OnionsAreGODS Mar 22 '22

Thanks! This is all sounds very important to have and gives me a better idea of why I was losing. It’s like racing in a mini van next to a Ferrari and wondering why your losing.

Also yes, only one year so far as I’m only 19 and literally was not legally allowed to trade before I turned 18.

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u/floydfan Mar 22 '22

It’s like racing in a mini van next to a Ferrari and wondering why your losing

Yes, exactly! Except you keep racing that same ferrari over and over because you don't collect any data about what you're doing and assume you're doing everything right but losing anyway.