Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Personally? I would take $1000, focus on IWM/QQQ weekly options. I'd trade between intraday pivots (support resistance) with a goal of 30% profit per day. I'd take profit daily and disregard any noise and never look back at how much I "could have made" if I stayed in the trade longer. I would compound my profits daily. I WOULD IMMEDIATELY SELL and wait for the next day to trade again if the trade went against me for more than 5%. The trade plan would look something like this with 30% daily target:
Day 1- $1000
Day 2- $1300
Day 3- $1690
Day 4- $2197
Day 5- $2856
Day 6- $3713
Day 7- $4827
Day 8- $6275
Day 9- $8157
Day 10- $10,605
You get the point...
Correlation and causation .... not good bedfellows
Nice
Speaking of which...I keep reading how foreign markets showing weakness will surely drag the US markets down with them. Devils advocate...what if we (US) are the new safe haven trade? Does it not make sense that if other markets fail, money will fly to healthier environments? Money finds a way to grow...and it's more often than not through the path of least resistance.
NFLX Could Fall 40% or More as the Stock’s Sizzle Slows
At 97 times earnings - Barrons
Bullish
Sector. Rotation.
My biggest concern with new traders is they set unrealistic profit goals from inadequate starting points....and that's before they ever get their teeth kicked in on a trading system based on a derivative in a market dominated by quants and algorithms. Nothing like a $0 in an account to turn new traders away before they ever get a legitimate chance to start. I meet and speak to hundreds of people a year (not exaggerating) who learn what I do and say it must be luck because "they tried that whole option thing and lost way too much money." Either that, or they want to trade the lazy mans way....just buy something and take profits X days later. Just not that way anymore.
I have my moments
Funny, my wife said pull out $10k for bills...
3 VERY common themes in the markets right now:
1. Inverted Head and Shoulder patterns everywhere
2. Nobody trusts this rally, everyone seems to be looking for a correction
3. Breadth is strong
Bullish
Aug or Sept $10, Dec $11, Jan $12 would be my first looks.
Putting together charts right now.
Profitability.....NFLX, TSLA, AMZN....*pshhh
I've sold previous positions a couple of times for small profits and rolled them into new positions a few times, nothing worth posting. Basically going to have a position at all times until the company lays to rest rumors of BO
No. This amount would limit you to only a few companies with liquid options, and even then, one trade and you will lose all your trading capital. 500 would at least give you a small bit of freedom, 1000 more so, but 5000 is much better. Here are some concerns:
1. With the absolute dedication necessary to learn to trade a successful system, the mental hurdles (these are 99% of trading) will be too much to handle if you are having to worry that every single trade will leave your account empty. This will make you trade scared, and you will lose money faster. Basically forcing you to practice bad habits and doom your experience from the beginning.
2. To truly win at trading and make a living out of it, you HAVE to be a consummate student. There is no quick way to get rich, it is hard hard HARD work...and if you have to worry that each and every trade will wipe you out, you WILL NEVER trade effectively.
3. Being that the number 1 rule in trading is patience, I would make this your first exercise in it....take time to add money to this account, and in that time develop a watchlist (smaller the better) and learn to chart these names on your list. While charting, note daily setups that you believe would trigger a trade, paper trade those, and see if you would have made a profit. If yes, why? If no, why? This would at least give you time to build an account you can trade and later be at least a little more equipped to handle what will ultimately teach you a whole new level of humility.
Good luck
Yep....100 Aug $20 Calls
X broke C&H today....measured move $24
Sold 1/3 IBB July 275 Calls @ 1.80 average from .55
Out GOOGL 717.50 @.40 from .20
Out rest of PCLN 1310 calls @16 from 7 ave
Day trading high betas all day. Thursday's and Friday's I generally make a killing on day trades
Haven't even looked at it today, have a lot of time on mine. Looks great