This video helped a lot, thanks. I appreciate more tutorial type videos with the teaching information you give over at SMM. In all honesty I think you are far better at teaching and advising and trading, then trying to give out option picks to the mass public with all of its pitfalls. Other then the recent covered calls in the bull market we’re in, which have done well, the track record has not been good.
But the thought of which options I should be in and why we should weed out certain tickers is important and needs to be shown more. There are many reasons to not choose a ticker for a stock, but even more why you shouldnt choose it to trade options. This sort of knowledge doesnt usually come in the run down of the positions were currently in every day. It helps to look at tickers we are not trading options in to see why we arent trading them (for example). SMM helps to teach you what to avoid in charts, but in options there are many other pitfalls to avoid. More of a overall option analysis for the day. Not 20 tickers or anything, just a few different ones that may intrigue someone but really should have red flags for options, instead of the same rundown of covered calls to hold. I do like what I have been able to get from here, but compared to SMM, the knowledge that comes in the videos is not even close.
With this following story of my trading I’m in no way trying to say you should have taught me to avoid this. You have taught me to, I just have a hard time following discipline. This is just my story and how it relates to this video (really a great video). This is a trading account, only options, with the full ability to lose the whole thing, so I do trade aggressively (read: recklessly). Its teeny small.
I last week lost money to weekly bullish calls. Google was higher, but not enough in time, ect. The option was profitable, twice. I shouldve sold, but I have a hard time sticking to my discipline when I’m swinging for the fences. I have a lot of profitable options that I buy and hold, usually I trade 1-3 calls. When I trade apple or google I only buy 1. Always Out of the Money because with my very small account thats all I can afford to trade comfortably. I either hit it big or lose it all. Just two weeks I made 400% in a google. Its that sort of big win that keeps me doing it. But then I just lose all of the money and all the money I make in my other stocks and more in it.
I have made incredibly good money trading apple and google. Apple was the first, and I got my account and ego puffed up pretty big with my account up 25% in a week. I quickly lost 25% of my new account which means I had even less then before. But I knew that if I tried hard enough I could hit it again and get the money back. It took a few trys, and another 25% but I hit it, and good too, I put most of my account in the day trade and made back 90% of my over all account putting me back up to my peak. I tried so hard to not let it get to me. I knew I got lucky and I backed off from putting more then 25% of my account in one ticker and that was the most, usually going for 10%. Slowly I bled myself away being to aggressive trying to trade every up and down and always end up missing. Id hit nice winners all the time, but just a few losers would take away the wins from everything else.
My account has bounced up and down, its much smaller then $20,000 and I was trading $PCLN (sold april calls at a huge loss after holding them climb down, only to sell them near the bottom for it to rocket off to make those calls worth a pretty penny) apple, google, $CMG and other high beta tickers. Well no more. I’m done with them. I’ve made so much money in other stocks I need to learn to not give it all back by over leveraging.
This wasnt intended to be long, but maybe if I put it in writing I’ll stick to it. My account is now down (again) 50% of what I started with so all the big wins that these big money stocks get you, turn to big losses so quick its amazing. So my account is what I have for my account. I’m not trying to make it back, I’m just trying to make it bigger, staying in the right names.
Thanks. You’re keeping me “sober”.
This video helped a lot, thanks. I appreciate more tutorial type videos with the teaching information you give over at SMM. In all honesty I think you are far better at teaching and advising and trading, then trying to give out option picks to the mass public with all of its pitfalls. Other then the recent covered calls in the bull market we’re in, which have done well, the track record has not been good.
But the thought of which options I should be in and why we should weed out certain tickers is important and needs to be shown more. There are many reasons to not choose a ticker for a stock, but even more why you shouldnt choose it to trade options. This sort of knowledge doesnt usually come in the run down of the positions were currently in every day. It helps to look at tickers we are not trading options in to see why we arent trading them (for example). SMM helps to teach you what to avoid in charts, but in options there are many other pitfalls to avoid. More of a overall option analysis for the day. Not 20 tickers or anything, just a few different ones that may intrigue someone but really should have red flags for options, instead of the same rundown of covered calls to hold. I do like what I have been able to get from here, but compared to SMM, the knowledge that comes in the videos is not even close.
With this following story of my trading I’m in no way trying to say you should have taught me to avoid this. You have taught me to, I just have a hard time following discipline. This is just my story and how it relates to this video (really a great video). This is a trading account, only options, with the full ability to lose the whole thing, so I do trade aggressively (read: recklessly). Its teeny small.
I last week lost money to weekly bullish calls. Google was higher, but not enough in time, ect. The option was profitable, twice. I shouldve sold, but I have a hard time sticking to my discipline when I’m swinging for the fences. I have a lot of profitable options that I buy and hold, usually I trade 1-3 calls. When I trade apple or google I only buy 1. Always Out of the Money because with my very small account thats all I can afford to trade comfortably. I either hit it big or lose it all. Just two weeks I made 400% in a google. Its that sort of big win that keeps me doing it. But then I just lose all of the money and all the money I make in my other stocks and more in it.
I have made incredibly good money trading apple and google. Apple was the first, and I got my account and ego puffed up pretty big with my account up 25% in a week. I quickly lost 25% of my new account which means I had even less then before. But I knew that if I tried hard enough I could hit it again and get the money back. It took a few trys, and another 25% but I hit it, and good too, I put most of my account in the day trade and made back 90% of my over all account putting me back up to my peak. I tried so hard to not let it get to me. I knew I got lucky and I backed off from putting more then 25% of my account in one ticker and that was the most, usually going for 10%. Slowly I bled myself away being to aggressive trying to trade every up and down and always end up missing. Id hit nice winners all the time, but just a few losers would take away the wins from everything else.
My account has bounced up and down, its much smaller then $20,000 and I was trading $PCLN (sold april calls at a huge loss after holding them climb down, only to sell them near the bottom for it to rocket off to make those calls worth a pretty penny) apple, google, $CMG and other high beta tickers. Well no more. I’m done with them. I’ve made so much money in other stocks I need to learn to not give it all back by over leveraging.
This wasnt intended to be long, but maybe if I put it in writing I’ll stick to it. My account is now down (again) 50% of what I started with so all the big wins that these big money stocks get you, turn to big losses so quick its amazing. So my account is what I have for my account. I’m not trying to make it back, I’m just trying to make it bigger, staying in the right names.
Thanks Dan, I needed this.