No day trader on this planet can make yearly profits

Discussion in 'Trading' started by teewoods, Nov 13, 2019.

  1. This is an oft-repeated trope that I have found to be neither true nor false . I'm not knocking you, by the way.

    If you are able to have some slight directional edge, options let you leverage like a mofo with a limited loss. I had a 60% swing trade on near dated options from last week that I closed this morning. I only put up a few K and over a few days... well, anyway. I've done this for a few weeks now. Called it on Twitter ahead of time before I got banned so anyone from here who followed me saw them.

    The only thing is that you have to be very smart about stop limits because near dated options can move fast. So if you're wrong, get out and wait for your next signal.

    In short, people who say that don't use options for what they're most useful and just want to play the lotto. In that case, what you say is true.
     
    #291     Nov 25, 2019
    speedo likes this.
  2. speedo

    speedo

    Yeah Noob, I don't know enough about options to have anything of value to offer regarding them. The buy/sell aspect is just something I've often heard.
     
    #292     Nov 25, 2019
  3. Makes sense.
     
    #293     Nov 25, 2019
  4. ironchef

    ironchef

    In general not true.
     
    #294     Nov 25, 2019
    Option_Attack likes this.
  5. notagain

    notagain

    good day for options
    Screen Shot 2019-11-25 at 6.01.19 PM.png
     
    #295     Nov 25, 2019
  6. ironchef

    ironchef

    #296     Nov 25, 2019
    Option_Attack likes this.
  7. Overnight

    Overnight

    At least it is not NG. I hear that one is a bitch. :)
     
    #297     Nov 25, 2019
    ironchef likes this.
  8. ironchef

    ironchef

    I don't trade NG. You have to ask @trader99, he trades NG and indeed often bitched about it.
     
    #298     Nov 25, 2019
  9. Overnight

    Overnight

    Nah, he likes NG because it "moves slow". He hates GC. And he needs to stay the hell away from GC. :)
     
    #299     Nov 25, 2019
    trader99 and ironchef like this.
  10. ironchef

    ironchef

    I stand corrected. So, best to ask him.
     
    #300     Nov 25, 2019