And that is the real killer here. You KNEW it was going to be a massive day, yet your conviction did not allow you to slip your order by one tick, just to get into it, as Jack suggested? That's awful man.
you should have raised your price to 31 cents if it didn’t get filled immediately. That’s what I would have done. In my 10 years of trading independently did I find a broker hold an order for so long that I lost the offer. The broker ended up compensating me for 20k. there’s a phrase for what you did: “dick for a tick” one penny cost you dollars.
Actually, I see profitable trades like that almost every day. Never take them though. Well, I knew quite well that it's not a good idea to buy at exact tops or bottoms because other big traders will get preference over your order. However, I never actually make trades I only predict them and then other problems like fear or ADD keep me from following through. So, I had no real experience with my orders actually failing to get filled. Also, my strategy always involved predicting exact tops and bottoms. I was REALLY good at too. I always used exact tops and bottoms as a safety net incase the trade didn't go quite as far as expected. Tbh, I really need to trade with way smaller positions.
I got mental problems. I predict awesome trades every day. I used to make WAY bigger and more accurate predictions but my mental problems always got in the way. Racing thoughts, ADD, phobia of losing money... I can either seriously reduce my trade size OR I can make one or two huge trades and then I'll be trading regularly everyday I think. I really want to trade options at least $5,000 per trade.
We all have mental problems. Once you start actually trading you'll notice the win rate gets cut in half instantly . Hey I just called reebock busting their chops about a sneaker order I placed, and it took me almost 10 minutes to finally realize I had ordered from Rockport.
ps, how much money do you claim to have, to be wanting to play ootm short dated options at 5k per roll. remember this is not WSB, folks here at least pretend to want to win
My mental problems are completely debilitating. Only reason I was interested in trading was because it was something I was EXTREMELY good at predicting exactly tops and bottoms and even everything in between. Actually, I've always been extremely good at predicting most things I took interest in. While I agree that for most others their win rate would be cut in half, but MY win rate and profitably would not be. My imaginary trades are not imaginary to me. My pretend trades are almost 100% the same as they would be in real life. I only got $16k. I'm interested in ootm near expiration options because those move the best and have the best volume. In the money loses a lot of volume quick.
Cool., 5000 rolls on 16k bankroll. Thats pretty conservative. imo this is a troll, but good luck in all your endevours
No, $5k per options trade would be ideal if I had a lot more money to work with, like +$50k. Right now I'm trying to trade my whole account rather than something much more reasonable like 5% per trade. I'm good enough that I quite likely can turn $16k into $50k in one or two trades without losing everything. Then I'd be satisfied only trading 5% or 10% of my account. I said earlier that my current large trade sizes are causing too much fear and hesitation. Thanks for the best of luck though.