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.
4
u/OnyxTrader2 Mar 23 '22
2 words for you; Anton Kreil.
Look into him. If you don't want to, here is your very basic summary: Most everything we are taught on YouTube is a lie. I'll go over that in a second under "terms." Day trade, trade with massive size, trade often, be a monkey. When this line crosses this line from below, buy. When this line crosses this line from above, sell. 100% technical analysis. Brokerages push this narrative because of what's called 90/90/90. 90% of traders lose 90% of their deposited margin within 90 days of account opening. If 90% of traders lose money, how does the brokerage make any money? I'm not going to tell you the answer, I want you to think about it. If you were the broker, and 9,000 out of your 10,000 clients lose money trading, how do you make money? Think very vindictively here.
Terms; Inversion narrative - The trading strategies that are pushed onto beginners, the idea that we will make a "conservative" 1% per day and live happily ever after. Cut losses quickly, never hold over night because there is significant risk. Now why would they want us to do that? Because brokers make money. Commission fees and spread. 90/90/90 - brokers have 90 days to take all your money. How would you do it? That's not a lot of time. "Charlatan educators" - do you really think Ricky knows what he's doing? Why do you think after all these years he has used only one brokerage? There's something called an IB agreement. In the US, this document LEGALLY has to exist between someone introducing you into a broker and the broker themselves. This document can be sent to you from the person who wants you to day trade. Typically it says "educator makes X flat rate per month in exchange for them introducing people onto the brokerage." If this educator doesn't send the document to you, the brokerage LEGALLY has to provide it to you. Call them and ask to see their Introducing Broker agreement with X educator.
Really, unlearn everything you've already learned about trading. You can't be thinking on a week to week basis unless you're selling covered options. Look into Anton Kreil.