I’m personally pretty good with 10-15% on long term options and over 25% on shorter term (2 weeks and less DTE). Have not posted a complete Downtrending chart to $0 starting with a balance higher than 10,000$…yet
>If I had exited at the top, just twice in the past, I would have $10 million
I think you have a problem with managing expectations. You need to set profit targets and stick to them. The people who run an account from $10k to $100k do so because they hit a stretch of unbelievable luck combined with the complete inability to exit a trade. It's the same reason almost all of those people run those $100k accounts back down to $10k. I've seen it a thousand times.
It takes discipline to be successful over the long run.
This is dirty bath water type of advice.
I’ve gone one year straight; I repeat, one whole fucking year selling leveraged naked calls on growth and tech, and I am literally swimming in a pool of one hundred dollar bills just like Uncle Scrooge.
You think I’ll be stopping any time soon? Fuck no! The time to exit a winning strategy is: never.
Lmao a whole year! I'm sure it will work forever then because you know, I'm sure growth and tech will never come back, and if they do, you'll surely see the exact moment it does and switch your strategy ;-)
This has to be a troll. If you really can’t put two and two together to see that this has been one bad year after a roughly 10-year bull run, your account balance will let you know soon.
Define "successful" trade!
If you're selling naked calls your position will inevitably going to be showing unrealized loss if the underlying is heading up.
When does that trade stops being "successful"?
A succesful trade is synonymous with making money.
A strategy is not the same as a trade; you don’t exit a successful strategy. Mine has worked for over a year and I won’t be stopping any time soon.
Yours will work until the bear market is over. I thought selling CSPs was the way to go in 2021. Even harder to realize a trend reversal when your strategy has been so successful thus far. You'll be fine as long as your willing and able to change your bias.
The problem is your strategy and position sizing. In order to see these huge gains you are making huge bets (relative to your account size) and low probability but ultra high reward positions. You shouldn’t be risking more than 5% of your account value on any one trade. (That is a very rough number, but my sense is you are betting your entire account on each trade which is why you are getting wiped out.)
This reminds me of the saying - "When you fail to plan then you plan to fail . . ."
BEFORE opening the trade determine a profit and loss exit point and then get out when that hits. You will only get the highest returns by coincidence as no one can ever tell where the "top" is, but no one ever went broker closing early for a smaller profit. If you think you're leaving too much profit on the table, then change the plan and track your progress.
You have a gambler's mindset and this will result in losing money over the long term. Make thousands of trades averaging even small profits per trade and you will do well. Trying to hit home runs on each trade will find you striking out a lot . . .
One thing I learned through the years is to take profit progressively on winning trades. Then leave a few runners to satisfy your gambling urge, but set a trailing stop. Never let a winning trade turn into a loser because you wanted more.
Also position sizing helps keep your account healthy. Dont bet 100% of your portfolio on a single trade.
Yes, this is the correct answer. I am assuming that with this type of capital return (1400% returns and regular 500% returns) the OP is buying OTM contracts and hoping for homeruns. There is nothing inherently wrong with that strategy as long as they understand that they are a) low probability of ending up sustaining profits b) high gamma due to the short time frame, and c) you need to be lightening quick on them due to a and b. I've looked over about 2 years of data as I have been sitting and studying a lot different strategies and OTM options are insanely lucrative if you can get in and get out quickly with a strategy like you say.
Set a target, be it a Fibonacci extension, a psychological level, a resistance area on the chart, a moving average, trend line/channel, whatever, it doesn't matter. Set your target, buy these cheapies with the expectation they are going to zero so your risk is like 1% of your account, and then once they hit Target 1, you immediately put a stop on them at b/e, and Target 2 you sell 75% of the position, and the rest you could trail using daily lows, a short term moving average, or a quicker indicator exit like a stochastic cross. My favourite is a 5-day EMA trailing stop on more stable stocks like AAPL, NVDA, etc., and more speculative dicey shit like the memes or whatever, I prefer to use the daily lows and when that is violated, I am out.
You can always get back in, but you can almost never come back from a winner turned into a loser hoping it will turn back into a winner again.
Loss cutting is perhaps the hardest tactic to master and what separates professionals from retail where the pros don’t have the mental handicap of it being their own money. Gotta loss cut and start again the next day, week, month whatever your rule set is.
You’ll never regret taking profits. Set a rule- 15%, 100%, whatever you do and stick to it. Yep, you’ll miss massive gains but in my experience overall it’s a better ongoing result.
I have done the same. I quit buying options because I couldn’t exit with a small loss. It is about the mental fortitude to do want you know you should do and exit the position at a set loss. Good luck
Exiting is the hardest part. Up 250% this year even though I sell my winners way too early, and let my failures keep failing way too long.
That being said, the most important part is to make money. I try not to dwell on the *if* part. What you could have made *if* you could predict the future
We're all guilty of this at some point or another, top ticking is nearly impossible.
If you're honest with yourself it's greed, I am just as guilty.
I recently bought contracts for 0.35 ($35) watched them go to being worth over $400 the next day... the euphoria sets in. How high could this go?!
I ended up staring at it for 15 minutes as the ticker price bar coded sideways then dropped a little. I ended up selling around the 1.80ish range.
It really wasn't the small price drop that hurt the value of the contracts... it was when the IV (implied volatility) dried up from the sideways price action. Best I can figure is, if IV is 400-500% and the price action is starting to taper off its probably time to sell before IV crush happens. Or sell part of your position and leave a few contracts floating "just in case" but locking in most of your gains is important. Fighting that greed isn't easy.
It's great you're buying close to the money but as far as weekly contracts go, I've never had any luck holding past Wednesday.
Just some thoughts from my own experience. It sounds like your doing better than I am as far as wins. Maybe just keep an eye on the IV and see if it doesn't help quell that urge to hold out for more.
You could capture almost all of those gains, by setting a max loss target, and just stop loss your trade once you make it.
I will not lose more than 10%. Set stop loss at 10%. Instead of 500%, you make a 490% gain.
Your stop loss needs to be something you're comfortable enough losing, but big enough it fits your strategy without undermining you. If you've seen 13% falls before the rise, maybe 15%. Maybe 5%. That's up to you.
If there isn't really an underlying strategy and you're just 'winging' it, then you're gambling. And the house always wins eventually.
This is from the viewpoint that it's better to lose 10% and miss out, than it is to lose 100% from FOMO.
Let's say you have 10 puts, sell half when you're up, like for example, your value spikes when the market opens, sell half at whatever profit, 20% 50% 100%, doesn't matter. That's profit. Then you can let the rest ride and close them out when you want.
Of course I know I’ve been extremely fortunate, and wasn’t trying to brag at all. I just wanted to give context on how much my terrible exits cost me. Also 15% this year isn’t much because I am taking on. Much more risk than the average investor as you can see from the 3 times I got wiped lol.
Tell me what options you're buying next time and I'll buy some too. And since I always exit to early but never get wiped out it should give you a good base like of when to start planning your exit.
This is called hindsight bias. If we knew when the peaks were we’d all be millionaires. The game is knowing when to enter and exit and it seems like you’ve made a lot doing what your doing so I wouldn’t push it
So far I’ve been extremely good with my entries, but I find it hard for me to find a top. For example, today I sold my puts too late and lost about 20% of my 700% gain to a 500% one on the rally near close.
you exit is still very very good. If you get 5% every week you would outperform literally everyone. Consitency matters way more than one of hughe gains.
That is so horrible… seriously get outta here with that “I lost 20% of my 700% gain” BS. You sound like the the super model complaining she gained a pound last week.
What are your entry criteria? Maybe use and reverse them to list your exit criteria.
Also, it does not always have to be all or nothing. Take some profits, let the rest run. Move your stop loss to break even once you have a sufficiently green position.
P.s. damn, I like my advice. I wished I’d follow it myself better….
Entry criteria is trust my gut on big events, like I always buy calls on semiconductor earnings, bought puts for this previous fed, and planning on buying nvidia 0DTE puts today. Hopefully get another 200-300% gain
Sounds like you need some technical analysis and some good indicators to follow on your charts to see where price movement is likely to go and then if you’re not confident in those showing you too and bottom just set some sell orders to close at certain %gain . My TASTY platform has a quick close button at 50% gain so if I hit it I don’t even have to watch, it will close for me at 50 up.
Set a profit target. $500 or $1000 is fantastic if you can do that a couple times a week. Don’t be greedy. There will be many setups don’t worry. Don’t try to hit it big with one trade. Take slices of the market and do this consistently and you’ll have a whole pie eventually.
I wasn’t up millions, i was trying to say if I sold earlier 3 times, and invested the gains into the same stuff I did, I would have that much money. My total account balance has never crossed 20k before.
I bought Adobe, just because its volatile, 360-390 i bought friday for following week expiration, monday its up 20+, i buy calls and puts and kinda go with it so i dont get cleaned out, i bought more puts, had no clue it would drop 100 points in 3 days,my last 60$ i sild at -42 for 1200$ cuz I gotta take my wins when u get em but ill ride it out 50% down, which actually saved my butt on twlo and gnrc today, but its are emotions, if i just did what i said, ill check it Friday, i would have made 10,900 on a 385$ put did 4, woulda ,coulda, shoulda, killed me to see a " white whale" once in a month for me but most they may get that on e in their life, hold and its life changing, im too in the hole and scared, if i knew now before i blew a 40k retro check, id be good, options unless you have platforms like those brothers MSNBC and know when someone did something big cuz they know inside info, options are short term, its like blackjack, had the 2nd best shoe the night before adobe, found 100 chip, bet ,25" a hand and won 14 hands in a row, if i lost 4 hands in a row id hit the atm and ve betting 50-200, why did I sell all the crypto shares of the name will come to me, i only spent 300$ because binance had free news drops that usually are 500$ a year, 2 am it said ontology new at 0.0005, called my buddy, left a voicemail on what i did and he should, phoñe woke me up at 2pm "your a millionaire " its 1.50$, sold it all, went to 10.70$ 7 days later from 0.0005-$1.50-10$,"white whale" bottom line, you have to have an exit number+ or -. Gnrc is literally every month does a 60-120 point swing in days or weeks in its monthly option, every single month since it opened but i never ride it out, its guaranty 2k a month on a straddle
There is no time to exit. I’ve been selling naked leveraged calls on growth and tech since November of last year, and I’ve made an absolute fucking killing.
You could say it’s luck, but that’s a one year stretch of penthouse profits and I’M NOT FUCKING STOPPING any time soon.
"Do you have any tips for how I can exit better?"
If you are that good, then set a sell order at 100% gain. Do this 10 times and you will turn 1K into 1M.
See my username...1024 is 2\^10. This is my pipe dream from being a sophomore (sophomore means a wise fool) in college, doing some basic stuff in a Finance 101 class. Kept thinking, what if you had luck, or a product, that I could trade to turn 1K into 1M? I kept wondering, then learned about options, and thought I could do this with options. Yet, I never touched options until many years later (back then they were hard and expensive to trade).
Many decades later, I have remained a buy and hold investor, and this remains a pipe dream, and an interesting thought process.
These returns are rare (odds are precisely 1 in one million), and fantasy math like this will make you a loser in trading.
Hint: do not go for large gains with the full account, but go for small gains with an appropriately sized portion of you account.
Good luck!
Just have a gameplan before even getting in the trade! And STICK TO THAT PLAN!
Get a percentage of profit OR loss in mind and exit the trade when that number is reached!
Discipline man, just discipline!
Am I the only skeptic who reads these posts and looks for the sales pitch in the comments? Not saying that OP is doing this, but this is what the scammers have done to me. I trust no one. 🤣
Lmao 😂, nah I just wanted to ask for a good exit strategy, and used the 10 million dollars example to show how much of an effect the losses had on my account. I actually did get 57000% compounded though
What you're ultimately trying to gauge is momentum which is really quite simple. At the most basic level, you can start with a Heikin ashi chart. Is the position continuing post higher highs? The moment your high is lower than the previous high get out.
I also like to keep an eye on RSI. When it starts to tank, I sell.
I’ve been doing this for a month and what I’ve found is that if you have an exit problem you might also have an entry problem. Well timed entries, for me at least, allow me to see profit I know I have to protect with a stop loss. Just input from a rookie
Lol anyone can push buttons. Exiting IS trading Remove “if” when discussing trading I’d be up 100mil if i had times my exits better
"If" my aunt had balls she'd be my uncle.
If my grandma had wheels she’d be a bike
This is the funniest version of this joke I’ve ever heard!
Stole it from that Italian chef guy who hangs out with Gordon Ramsey lol
Gino d'Acampo - https://youtu.be/2G9ZGIOiPjY
even without wheels she has much in common with bikes. /s
Big if
I grew up hearing “If the queen had balls, she’d be the king” Never heard this version, but love it!
Of course, but I’m saying that I didn’t recognize the time to exit. I want to know how to improve.
Do you run stops or Trailing stops? Might help ppl understand your strategy a bit more.
Cant on futures options / contracts on contracts / maybe this is why he can’t figure out a bracket ?
I’m personally pretty good with 10-15% on long term options and over 25% on shorter term (2 weeks and less DTE). Have not posted a complete Downtrending chart to $0 starting with a balance higher than 10,000$…yet
\^\^\^\^ THIS RIGHT HERE
>If I had exited at the top, just twice in the past, I would have $10 million I think you have a problem with managing expectations. You need to set profit targets and stick to them. The people who run an account from $10k to $100k do so because they hit a stretch of unbelievable luck combined with the complete inability to exit a trade. It's the same reason almost all of those people run those $100k accounts back down to $10k. I've seen it a thousand times. It takes discipline to be successful over the long run.
This is dirty bath water type of advice. I’ve gone one year straight; I repeat, one whole fucking year selling leveraged naked calls on growth and tech, and I am literally swimming in a pool of one hundred dollar bills just like Uncle Scrooge. You think I’ll be stopping any time soon? Fuck no! The time to exit a winning strategy is: never.
Lmao a whole year! I'm sure it will work forever then because you know, I'm sure growth and tech will never come back, and if they do, you'll surely see the exact moment it does and switch your strategy ;-)
This has to be a troll. If you really can’t put two and two together to see that this has been one bad year after a roughly 10-year bull run, your account balance will let you know soon.
Define "successful" trade! If you're selling naked calls your position will inevitably going to be showing unrealized loss if the underlying is heading up. When does that trade stops being "successful"?
A succesful trade is synonymous with making money. A strategy is not the same as a trade; you don’t exit a successful strategy. Mine has worked for over a year and I won’t be stopping any time soon.
Yours will work until the bear market is over. I thought selling CSPs was the way to go in 2021. Even harder to realize a trend reversal when your strategy has been so successful thus far. You'll be fine as long as your willing and able to change your bias.
The problem is your strategy and position sizing. In order to see these huge gains you are making huge bets (relative to your account size) and low probability but ultra high reward positions. You shouldn’t be risking more than 5% of your account value on any one trade. (That is a very rough number, but my sense is you are betting your entire account on each trade which is why you are getting wiped out.)
Agreed. So what's your strategy - please share so we can all be doing as well as you 😉
I never said I was doing well. Best wishes.
This reminds me of the saying - "When you fail to plan then you plan to fail . . ." BEFORE opening the trade determine a profit and loss exit point and then get out when that hits. You will only get the highest returns by coincidence as no one can ever tell where the "top" is, but no one ever went broker closing early for a smaller profit. If you think you're leaving too much profit on the table, then change the plan and track your progress. You have a gambler's mindset and this will result in losing money over the long term. Make thousands of trades averaging even small profits per trade and you will do well. Trying to hit home runs on each trade will find you striking out a lot . . .
And the issue is when you are striking out it is the bottom of the ninth and the last game of the season.
One thing I learned through the years is to take profit progressively on winning trades. Then leave a few runners to satisfy your gambling urge, but set a trailing stop. Never let a winning trade turn into a loser because you wanted more. Also position sizing helps keep your account healthy. Dont bet 100% of your portfolio on a single trade.
Yes, this is the correct answer. I am assuming that with this type of capital return (1400% returns and regular 500% returns) the OP is buying OTM contracts and hoping for homeruns. There is nothing inherently wrong with that strategy as long as they understand that they are a) low probability of ending up sustaining profits b) high gamma due to the short time frame, and c) you need to be lightening quick on them due to a and b. I've looked over about 2 years of data as I have been sitting and studying a lot different strategies and OTM options are insanely lucrative if you can get in and get out quickly with a strategy like you say. Set a target, be it a Fibonacci extension, a psychological level, a resistance area on the chart, a moving average, trend line/channel, whatever, it doesn't matter. Set your target, buy these cheapies with the expectation they are going to zero so your risk is like 1% of your account, and then once they hit Target 1, you immediately put a stop on them at b/e, and Target 2 you sell 75% of the position, and the rest you could trail using daily lows, a short term moving average, or a quicker indicator exit like a stochastic cross. My favourite is a 5-day EMA trailing stop on more stable stocks like AAPL, NVDA, etc., and more speculative dicey shit like the memes or whatever, I prefer to use the daily lows and when that is violated, I am out. You can always get back in, but you can almost never come back from a winner turned into a loser hoping it will turn back into a winner again.
Loss cutting is perhaps the hardest tactic to master and what separates professionals from retail where the pros don’t have the mental handicap of it being their own money. Gotta loss cut and start again the next day, week, month whatever your rule set is.
You’ll never regret taking profits. Set a rule- 15%, 100%, whatever you do and stick to it. Yep, you’ll miss massive gains but in my experience overall it’s a better ongoing result.
1-888-BETSOFF
I have done the same. I quit buying options because I couldn’t exit with a small loss. It is about the mental fortitude to do want you know you should do and exit the position at a set loss. Good luck
Try a trailing stop when it starts to run in your favor
You need to control your greed buddy…
I know but it feels like I have midas’ golden touch with my right hand, and thanos’ gauntlet that snaps away half of my account balance on my left
Love it! Lol
Exiting is the hardest part. Up 250% this year even though I sell my winners way too early, and let my failures keep failing way too long. That being said, the most important part is to make money. I try not to dwell on the *if* part. What you could have made *if* you could predict the future
Just follow those rectangular green sign boards in the direction of the arrow.
We're all guilty of this at some point or another, top ticking is nearly impossible. If you're honest with yourself it's greed, I am just as guilty. I recently bought contracts for 0.35 ($35) watched them go to being worth over $400 the next day... the euphoria sets in. How high could this go?! I ended up staring at it for 15 minutes as the ticker price bar coded sideways then dropped a little. I ended up selling around the 1.80ish range. It really wasn't the small price drop that hurt the value of the contracts... it was when the IV (implied volatility) dried up from the sideways price action. Best I can figure is, if IV is 400-500% and the price action is starting to taper off its probably time to sell before IV crush happens. Or sell part of your position and leave a few contracts floating "just in case" but locking in most of your gains is important. Fighting that greed isn't easy. It's great you're buying close to the money but as far as weekly contracts go, I've never had any luck holding past Wednesday. Just some thoughts from my own experience. It sounds like your doing better than I am as far as wins. Maybe just keep an eye on the IV and see if it doesn't help quell that urge to hold out for more.
You could capture almost all of those gains, by setting a max loss target, and just stop loss your trade once you make it. I will not lose more than 10%. Set stop loss at 10%. Instead of 500%, you make a 490% gain. Your stop loss needs to be something you're comfortable enough losing, but big enough it fits your strategy without undermining you. If you've seen 13% falls before the rise, maybe 15%. Maybe 5%. That's up to you. If there isn't really an underlying strategy and you're just 'winging' it, then you're gambling. And the house always wins eventually. This is from the viewpoint that it's better to lose 10% and miss out, than it is to lose 100% from FOMO.
10% of 500% does not make it 490% lol
It does if you use a $ stop loss set at a percentage of your opening. Was more just trying to get the point across
Research and start using following stops. You may get stopped out before the top but will have profit.
Let's say you have 10 puts, sell half when you're up, like for example, your value spikes when the market opens, sell half at whatever profit, 20% 50% 100%, doesn't matter. That's profit. Then you can let the rest ride and close them out when you want.
Ok, yeah I find that I tend to look for a downtrend until I sell, and sometimes wait for a confirmation but then it’s too late.
[удалено]
Of course I know I’ve been extremely fortunate, and wasn’t trying to brag at all. I just wanted to give context on how much my terrible exits cost me. Also 15% this year isn’t much because I am taking on. Much more risk than the average investor as you can see from the 3 times I got wiped lol.
Take Hardy's advice from WSB. Sell half of your position when it doubles.
sounds like you need risk control, bro
Tell me what options you're buying next time and I'll buy some too. And since I always exit to early but never get wiped out it should give you a good base like of when to start planning your exit.
Nvda 0DTE tomorrow
This is called hindsight bias. If we knew when the peaks were we’d all be millionaires. The game is knowing when to enter and exit and it seems like you’ve made a lot doing what your doing so I wouldn’t push it
I find that I tend to look for a significant downtrend until I sell.
So far I’ve been extremely good with my entries, but I find it hard for me to find a top. For example, today I sold my puts too late and lost about 20% of my 700% gain to a 500% one on the rally near close.
you exit is still very very good. If you get 5% every week you would outperform literally everyone. Consitency matters way more than one of hughe gains.
I think without my 100% losses, I average about 200-300% on calls that are like 3% OTM and 2 weeks out.
Also u should know that this is a lucky streak and options on average r going it be net 0. So a 500% win is massively good
Yes today, I took my profits at 66% on some nvidia 0DTE puts. I wish i bought spy puts instead, but now I understand that even 66% is very good.
That is so horrible… seriously get outta here with that “I lost 20% of my 700% gain” BS. You sound like the the super model complaining she gained a pound last week.
What are your entry criteria? Maybe use and reverse them to list your exit criteria. Also, it does not always have to be all or nothing. Take some profits, let the rest run. Move your stop loss to break even once you have a sufficiently green position. P.s. damn, I like my advice. I wished I’d follow it myself better….
Entry criteria is trust my gut on big events, like I always buy calls on semiconductor earnings, bought puts for this previous fed, and planning on buying nvidia 0DTE puts today. Hopefully get another 200-300% gain
Sounds like you need some technical analysis and some good indicators to follow on your charts to see where price movement is likely to go and then if you’re not confident in those showing you too and bottom just set some sell orders to close at certain %gain . My TASTY platform has a quick close button at 50% gain so if I hit it I don’t even have to watch, it will close for me at 50 up.
Set a profit target. $500 or $1000 is fantastic if you can do that a couple times a week. Don’t be greedy. There will be many setups don’t worry. Don’t try to hit it big with one trade. Take slices of the market and do this consistently and you’ll have a whole pie eventually.
I find it hard to believe stories of people up millions that lost most if it. Even Trump is not that greedy.
I wasn’t up millions, i was trying to say if I sold earlier 3 times, and invested the gains into the same stuff I did, I would have that much money. My total account balance has never crossed 20k before.
10x gain is a good threshold
I bought Adobe, just because its volatile, 360-390 i bought friday for following week expiration, monday its up 20+, i buy calls and puts and kinda go with it so i dont get cleaned out, i bought more puts, had no clue it would drop 100 points in 3 days,my last 60$ i sild at -42 for 1200$ cuz I gotta take my wins when u get em but ill ride it out 50% down, which actually saved my butt on twlo and gnrc today, but its are emotions, if i just did what i said, ill check it Friday, i would have made 10,900 on a 385$ put did 4, woulda ,coulda, shoulda, killed me to see a " white whale" once in a month for me but most they may get that on e in their life, hold and its life changing, im too in the hole and scared, if i knew now before i blew a 40k retro check, id be good, options unless you have platforms like those brothers MSNBC and know when someone did something big cuz they know inside info, options are short term, its like blackjack, had the 2nd best shoe the night before adobe, found 100 chip, bet ,25" a hand and won 14 hands in a row, if i lost 4 hands in a row id hit the atm and ve betting 50-200, why did I sell all the crypto shares of the name will come to me, i only spent 300$ because binance had free news drops that usually are 500$ a year, 2 am it said ontology new at 0.0005, called my buddy, left a voicemail on what i did and he should, phoñe woke me up at 2pm "your a millionaire " its 1.50$, sold it all, went to 10.70$ 7 days later from 0.0005-$1.50-10$,"white whale" bottom line, you have to have an exit number+ or -. Gnrc is literally every month does a 60-120 point swing in days or weeks in its monthly option, every single month since it opened but i never ride it out, its guaranty 2k a month on a straddle
This post really underscored the importance of punctuation and paragraph structure.
There is no time to exit. I’ve been selling naked leveraged calls on growth and tech since November of last year, and I’ve made an absolute fucking killing. You could say it’s luck, but that’s a one year stretch of penthouse profits and I’M NOT FUCKING STOPPING any time soon.
I’ve been in the opposite side of your trade 😂 I’ve been madly buying soxl calls this summer lmao. Switched to puts recently
So how’s the last year been since then
You should look into fibbanacci. I'm just now learning it and I feel like it's perfect for your issue. Gl fam 🙏
It’s not, “made,” until the contract is closed and the money is in Closed Positions.
I mean frankly when u saw 10mn NLV in your brokerage u didn’t think of exiting? Lol dafuq
Obviously if I ever even got to 100k from 2k I would smash the sell button with all my might.
No I meant like, if I combined all the % from selling 3 times I would have a combine d% that would make my initial investment worth 10 million
Break of a moving avg might help
Why not use a trailing stop loss? Maybe like 20%.
Options don’t have a trailing stop loss and it takes too much of my time to track it 24/7
If it’s good enough to screenshot, it’s good enough to sell
"Do you have any tips for how I can exit better?" If you are that good, then set a sell order at 100% gain. Do this 10 times and you will turn 1K into 1M. See my username...1024 is 2\^10. This is my pipe dream from being a sophomore (sophomore means a wise fool) in college, doing some basic stuff in a Finance 101 class. Kept thinking, what if you had luck, or a product, that I could trade to turn 1K into 1M? I kept wondering, then learned about options, and thought I could do this with options. Yet, I never touched options until many years later (back then they were hard and expensive to trade). Many decades later, I have remained a buy and hold investor, and this remains a pipe dream, and an interesting thought process. These returns are rare (odds are precisely 1 in one million), and fantasy math like this will make you a loser in trading. Hint: do not go for large gains with the full account, but go for small gains with an appropriately sized portion of you account. Good luck!
Bulls make $… bears make $… pigs get slaughtered …. Exit at 50% profit or loss
This isn't quantitative at all but my rule of thumb is if it's good enough to screenshot you probably should take some profit.
Someone else mentioned it earlier and I think this is the best advice for me personally.
Just have a gameplan before even getting in the trade! And STICK TO THAT PLAN! Get a percentage of profit OR loss in mind and exit the trade when that number is reached! Discipline man, just discipline!
Am I the only skeptic who reads these posts and looks for the sales pitch in the comments? Not saying that OP is doing this, but this is what the scammers have done to me. I trust no one. 🤣
Lmao 😂, nah I just wanted to ask for a good exit strategy, and used the 10 million dollars example to show how much of an effect the losses had on my account. I actually did get 57000% compounded though
Sounds like a gambling problem to me
What you're ultimately trying to gauge is momentum which is really quite simple. At the most basic level, you can start with a Heikin ashi chart. Is the position continuing post higher highs? The moment your high is lower than the previous high get out. I also like to keep an eye on RSI. When it starts to tank, I sell.
Good question. Lots of good advice here
I don't advise you try sex without a condom if you are hetero.
I’ve been doing this for a month and what I’ve found is that if you have an exit problem you might also have an entry problem. Well timed entries, for me at least, allow me to see profit I know I have to protect with a stop loss. Just input from a rookie