[转贴] $35k -> $1.25M in 4~ months / 期权交易

https://www.reddit.com/r/wallstreetbets/comments/hnk0r9/35k_125m_in_4_months/

350多笔交易还没仔细看，肯定有运气的成分也跟对了大势，但确实敏感抓住了大题材，平均下来每天才5笔交易。。。每天辛苦daytrade future真不好意思比较😂😂

回头好好学习一下，特别是怎么做的风险控制，现在根本不敢下大单总hold不住😅

$35k -> $1.25M in 4~ months

submitted 15 hours ago*bymori226

22.5k points submitted 15 hours ago * by mori226Paid $1.25m to change his flair& 30 more

Alright boys. This is going to be my final gains post. I cracked the 7-figure mark, and then some. I started with $35k in my ROTH IRA in late February/early March. I took out $50k, so current balance is after this amount. Total balance: ​ https://preview.redd.it/aza8wfympn951.png?width=620&format=png&auto=webp&s=9bf62f41c7548042e7155fc7988cb55b63e74f69 YTD graph, it's been an insane wild ride. The top balance on graph is balance from yesterday, this graph only updates overnight: ​ https://preview.redd.it/4ujrx8gtpn951.png?width=503&format=png&auto=webp&s=9e7dfbddc461ba03ad0dce267a78002a797407b0 Unlike my previous post, I'm going to post every single one of my trades I've ever made. There was a total of about 350 trades I made. Here are all my winning trades: ​ https://preview.redd.it/fu0a7hn4qn951.png?width=1169&format=png&auto=webp&s=0a2fcc6bb5b52e10ba50301aa0374feb8d0fe863 ​ https://preview.redd.it/dzsx6d2aqn951.png?width=1165&format=png&auto=webp&s=06a5639feb386ebd2ca83bfaed92b6b70d197803 And here are all my losers: ​ https://preview.redd.it/50o2gaufqn951.png?width=1159&format=png&auto=webp&s=d08b45c387251b1ad9d89fb13ba9ed733cb98503 Paid over $14k in commissions to Fidelity: ​ https://preview.redd.it/6jsl4utqqn951.png?width=472&format=png&auto=webp&s=1238eed7f211baf66e79fbb8a3a9d8c8f1ec6d38 I will update this post if anything else comes to my mind. But to put it succinctly. There is a process I follow. I outlined pretty much everything I do in the series of edits and comments I made in my original gains post here: https://www.reddit.com/r/wallstreetbets/comments/h83cfp/35k_590k_in_3_months/?utm_source=share&utm_medium=web2x If you have any questions in addition though, ask away, I will try to get to everybody. And yes, it fucking feels amazing. Also, gaymods... can I please get a flair change to "$35k to $1.25M"? I'm copying and pasting the tips I had in my other post into this since many of you retarded fucks can't even seem to click a link. The following are the general rules I follow in my trades. They have served me well. Luck has a lot to do with it. Probably 60% or more, but learning to click the damn sell and buy button when you don't feel like it (due to greed or fear) is the second biggest component. EDIT: Let me try to answer some of the common questions. I started with $35k in my ROTH. That was money I saved up from previous job. Hold 50% cash reserve at all times as a minimum. YOLOs on FDs are not how you build wealth using options. Go into OTM positions but only about 10-15%, and a reasonable chance that you personal feel the company can get to the strike before expiration Learn the greeks. Check current IV levels of the company. Try not to get into trades where the IV is at the top tippy top of a 12 month period. Learn to not beat yourself up over your trades/mistakes/woulda-shoulda-coulda's. <- This right here was the biggest lesson I learned. Staying focused and not killing myself over my huge mistakes. That sense of dread and horror after seeing your account run up to $550k and then plummeting below $100k in a matter of a week or so, I know is horrific, but learn to focus on what you still have left and climb back up. LET YOUR WINNERS RIDE. If you are cashing out on a hugely green position, consider taking out only a chunk or better yet, put a trailing stop loss around 20%. I put t-stops once a position goes green about 50%. I don't put trailing stops on currently red positions. I exit my losers by hand usually. I think psychologically I prefer to kill the red deals myself because I'd feel even more horrific and blame the system of the broker if I had a losing position exit out on a trailing stop. Do not put more than 25% of your account into a single position. We celebrate YOLOs and retardism around here yes, but that doesn't mean you need follow the ultra-retards. Don't hold 20 different positions. I see so many people holding fucking LUV/AAL/UAL/DAL positions at the same fucking time. No, just pick one and focus on it. Doesn't fucking matter which one, currently besides maybe LUV, the airlines move in lockstep. LEARN TO CUT YOUR LOSSES. Even at -90%. That 10% through the magic of options trading can easily be used to make the 90% again. Try to climb back out of a hole with 0% left though. I'll edit more in if I think of anything else, but overall, try to stay disciplined. Learning to control (I admit still very ineffectively but enough to usually put a rein on a runaway destructive thought process) my emotions was key. Losses don't kill options traders, calculating your alternate universe net worth on your woulda-coulda-shouldas do. EDIT 2: I will say this. My undergraduate degree was in Economics, and I'm finishing up my MBA in Finance right now. My education I think did give me a great deal of edge, over the average person just plunging into options. That doesn't mean you can't educate yourself. First and foremost go fucking watch some videos on options and their greeks. Implications of volatility on price as well is a basic knowledge you should have. EDIT 3: I usually buy contracts 1-2 months out. My plan is to sell around the half way point. Leaving a lot of theta meat on the bone so that they are still more valuable. 10-15% OTM. I never buy ITM. That 10-15% level has worked for me. I go for a strike price that I personally feel the stock can hit within the expiration. Almost all my winning trades have been ITM by the time I sold I believe. EDIT 4: If you look at my history, I followed the trends down, and then the trends up. If there's one "strategy" to what I do, you can say I ride trends. Knowing the trend was more instinctive. When China, the second biggest fucking economy in the world, was willing to take an extreme measure of forced quarantine of almost 500 million of its citizens, I understood just how fucking serious the virus was. Was that getting priced in the US stock market though? The potentially similar lockdowns in the US? No. Market was fucking hitting ATH at the same time. I shorted the shit out of everything about a week after (including DIS, $80p I bought when it was at $130) market hit ATH I think. My instinct was right, I went up to $550k~ or so from this. But then I made the mistake of holding when the trend had reversed. The market was no longer responding to the bad news. More death count than any other source of death in the country per day? Green. Record setting unemployment? Green. I went from $550k down to $91k. Bought ballsdeep calls from here and rode the wave back up. Learning to get a sense of the current trend is the hardest part I think. And who is your best friend? The trend. Who gives you your giant pile of tendies? The trend. Who buys your wife a new iMac pro? The trend. Never try to "outsmart" the market. You're going to lose you fucking shirt. EDIT 6: Almost forgot one of the biggest lessons I learned. I never ever close a position within the first ~1 hour of market opening. I usually close them in the last hour instead. Contract pricing is usually way out of wack across the board you are going to have massive amounts of slippage, mispricing, and just retarded level of lag and shit, even on the big boy brokers like Fidelity. (The only exclusion here would be for SPY...I don't go into SPY anymore, but if I did, I will sell at market open. The liquidity and the price movement is already built in when market opens for SPY. Any other tickers like AMZN, this rule applies) EDIT 7: I will add one more thing that led to my biggest gain trades. When a stock currently is at ATH, I mean actual ATH not high of 52 weeks, then there's a massive momentum going for the stock and chances are it will keep that momentum for a while. Using this logic, I went into AMZN calls. Many people asked me why I got in when it had already run up from $1.9k to like $2.1k or something, it's because I used that logic. (Be aware of buying into meme stocks ATH though, I'd be ready to cut my losses the next day if I got into a meme stock and it didn't continue going up/down) EDIT 8: Let me make one point clear. You are nothing. You are a nobody. Nobody gives a fuck about your gut feeling, or TA voodoo, or this, and that, and the market doesn't owe you shit. You are a dumbass. You are a dumbass. Repeat after me, you are a dumbass. The sooner you get this fact through your thick skull and learn to respect the trends of the market, the better it will be for your trades. Learn humility, stop fucking bragging about your 1 or even 10 wins, and more importantly, don't delude yourself into thinking you figured out the secret after your few trades. You haven't. Learn to be humble, and always fucking respect the market trends. It may feel like it, but this is not a fucking game, unless you want it to be and think the #'s you see on the neo screen are not real. You are trying to make serious $, not be proven right or how smart you are. I'll repeat, take ego out of it. Or not. But for me to get to this level over about 350 trades, these tips I outlined above worked remarkably well. EDIT 9: Many people seem to miss my points from the above giant ass retarded fucking post. So let me write another paragraph you can ignore. Hopping on the same trend is not enough. People pull out too soon, or worse they insist on going the wrong fucking direction. Even with my gains, I pulled out early on so so sooo many trades, with lost gains to the tune of approximately $3~ mil by my rough estimate. Letting my winners run and not pulling out too quickly let me get some big wins. This was not something easy for me to do, I was always tempted to pull the plug early on my positions but I held most and relied on tight trailing stop losses.