I told you guys...closing positions for a loss is for fools.

Discussion in 'Options' started by wxytrader, Mar 8, 2024.

  1. The difference with stocks is you don't have a time limit forcing you to take a loss. With options closer to expiry the delta can be obliterated overnight making your position worthless, even if its just a temporary downturn. So you might be out 8k over night on a dip that barely moves the needle on your stock position, which recovers anyway.
     
    #151     Mar 10, 2024
  2. newwurldmn

    newwurldmn

    macbookpro was a racist.

    edit: so is Quanto.
     
    #152     Mar 10, 2024
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  3. newwurldmn

    newwurldmn

    proper lambo size.
     
    #153     Mar 10, 2024
    taowave and wxytrader like this.
  4. First 0 dte trade I took was 100 long. I was up 8k in 5 minutes trying to sell but the sell order was throwing errors. I don't even know if I was entering it wrong or what the problem was...I ended up wasting time having to call in. (I was new to the platform) I ended up closing for a 5k profit...never been so pissed at making 5k.

    Anyway I swear 50% of my losses come from clerical errors not trading errors. I should also include gains because my first big win (70k) came from placing a buy order for 5000 thinking it was $5000 not shares.
     
    #154     Mar 10, 2024
    ondafringe likes this.
  5. ondafringe

    ondafringe

    Watch out... it doesn't take much to get blocked by him! lol
     
    #155     Mar 10, 2024
    semperfrosty likes this.
  6. newwurldmn

    newwurldmn

    He temporarily unblocked me, so I blocked him.
     
    #156     Mar 10, 2024
    semperfrosty and ondafringe like this.
  7. ondafringe

    ondafringe

    Oh, that will frustrate the hell out of him!

    He blocked me, as well, but I took a different approach.
     
    #157     Mar 10, 2024
    semperfrosty, taowave and newwurldmn like this.
  8. taowave

    taowave

    I get the fat fingering mishaps,but the second half of your story is a bit of a stretch...

    You thought you were filled purchasing $5000 worth of stock.which is a tiny notional,yet accidentally bought 5000 shares which must have been apx 700k-1.5 mil worth of stock as you made 70k on the trade...

    Your broker didnt notice it,you didnt notice it?

    On a million notional,you sat back and rode the stock up 7%??

    I call BULLSHIT


     
    #158     Mar 10, 2024
    ironchef, ondafringe and semperfrosty like this.
  9. i think it was doge.
     
    #159     Mar 10, 2024

  10. I call it falling backwards into profits I call it :)

    The stock was about $5. I averaged down as the price dropped until I had about 15k shares. My rationale was that the company would rebound and return to its highs someday. A couple weeks later I woke up to a 70k profit because of a hostile take over :)

    I was so dumb, that I was almost disappointed that I didn't get to ride the stock back up to its highs lol.

    This is why I say, sometimes you can be too smart to make money in stocks.
     
    Last edited: Mar 10, 2024
    #160     Mar 10, 2024