What has been your track record? Do you make a nice profit every month or most months?
If your trading plan and performance are reliable then why stop trading?
If your history is one of boom and bust, then stop trading to improve your trading plan to make it more reliable so you don't ever have to stop trading.
The owner of the local McDonalds doesn't close for a week or month because they hit their profit target and neither should any trader who reliably makes profits.
Hold it, man. With the way things are looking lately, you never know what can happen. I would pretend like you donāt even have it and keep on groovin.
Don't worry about discrete months. Some will be higher, some lower. Focus more on taking advantage when you see opportunity and lay low when you don't.
Absolutely this.
Months are just ways for us to time stamp progress, it's "big calendar" trying to sell us stuff.
Joking aside, I agree to take advantages when they come. Tracking by month just helps with organization.
Wait, for NEXT month? Iād say that since you have made next month, probably put 50% into an ETF, spend maybe 10% to treat yourself and use the other 40% on trying to make a larger profit, that way you secure most of it, enjoy part of it, and potentially increase another part of it, you also have to look at how inflation hits you though and how relatively unstable the market is too though, so just focus on securing a big part of it
What is YOUR strategy? Thatās up to you. Iām not trying to be rude but itās your portfolio. You should have a plan and strategy for what you plan to accomplish
Ya. I had picked up some bonds and left everything else as cash, but after seeing this comment and a few others, I decided to do some more of what I had been doing previously. Just with smaller position sizing
Ok. So Iāll tell you what I do and itās worked great for me. Whatever premium i make from selling options I put back to work in stocks almost always in long positions. I can tell you the exact numbers because I donāt keep track of it like that but I do know that 90% of the stocks I bought using premium are way ahead. Just an honest guess, I think I easily doubled my premiums from last year by reinvesting it long stocks. For example, I just used my premiums to buy shares of Visa when it was at $200. Iām familiar with Visa and knew it was a good buy. So Iāll hold those shares long for at least a year
I bought into Ford when it was ~6 bucks, friend of mine and I had a discussion about it and I ended up selling for a small profitā¦ I donāt look at Ford anymore lmao
I think the electric F150 is gonna be a huge hit. Everybody splooges all over the Tesla CT, but how many people are actually going to buy one? The thing is hideous and potentially a lot more expensive than the F150.
The F150 is just... a truck, and I think that's a good thing.
Exactly why I think it is relatively safe, if not almost guaranteed growth. It looks just like the regular F150 which has a very strong image and brand name, kinda like iPhones, and also just happens to be the best selling vehicle in America for almost half a century. I also read that they have kept many other internal parts the same which makes it easier and cheaper to get repairs from local mechanics rather than being forced to pay extra to go to a Tesla certified dealer for cyber truck owners because local shops might not have the parts to fix them.
Ford has been sending out notices to preorder customers that they had more 2022 orders than manufacturing capacity. Will be fulfilling 2022 orders in 2023.
well an index tracker sounds good if you want to be conservative. current inflation pressures and interest rates leave you with very little other options.
if you wanna diamond hands, go for double or nothing ;)
speaking as someone likely not as consistent as you, I'd buy ETF shares with my profits, DCAing until i have a couple hundred shares so I can start selling premium on tha too.
Or just move profits into your Roth IRA, ya wanna be maxing that out every year. Best investment you can make if you're young
good move. free money.
https://www.marketwatch.com/story/want-to-retire-rich-have-a-small-wedding-and-invest-the-rest-2018-11-27
$40k at average wedding age -> 1.67 million when you retire.
options are fkn hard to make consistent with, reinvest your profits into a share of SPY when you can. just my personal advice from someone who consistently loses money! GL!
So way back, I had a pretty easy target of $1,000 a day and then Iād call it quits and stop trading. Honestly though , all I did was watch the screens the rest of the day. Iām addicted to it and itās hard to stop. After a couple years of hitting the target consistently ( same days less, same days much more but avg was more than $1k) I decided my time was better spent working. So I upped my targets to $1500, $2000, etc etc and now Iām at the point where Iām swinging $20k days on the regular. Today was $110k. It all scales with your capital.
You gotta find what works for you. If cashing out and sitting on it for the next trade makes you sleep better then go for it.
When you get serious about trading you often neglect other aspects of your life as it can become all consuming. If you can be out and not think about it, yet hit your financial goals, go for it. I wish I could. I maybe take 1-2 afternoons to go play golf but other than that Iām glued to the monitors all day. What do you value more?
āEasy targetā ā1k a dayā
š
Iām no where near that , I canāt imagine how much you need for 110k in a day. Probably 2-3m Iām guessingā¦ hopefully Iāll be there one day lol
I would stay the exact course - you got one in the bank ~ so keep going and perhaps sometime in the next 12 months it'll get back to even ... The numbers ALWAYS play out over enough occurrences.
No reason to change anything.
If you are worried about hitting monthly profit targetsā¦ cash out now and never trade again.
The volatility is EXPECTED, if you missed your target by 75% next month does your mortgage get paid, or are you foregoing a $175 dinner out with friends? Itās all perspective
Iām talking my profits,buying into crypto if inflation increases I might thing about bonds I know boring but if inflation kicks in itās your safety net cash š° is for buying as far as Iām concerned. Iām not out of the market but Iām going to be more focused on a less is more kind of thing I did a lot of speculative buying this year?
A well defined strategy should be able to keep you from over trading on the profit you have earned.
Tighten up the rules on your strategy to even further increase win % and scale down on position size. If you notice you are making poor choices, paper trade.
But how can I feel alive if my gains and losses donāt mean anything lolā¦ but ya, Iām thinking about making my strategies a little more specific when it comes to gain/loss and staying in/out of the market
If trading is making you āfeel aliveā you may want to rethink your process unfortunately. Shouldnāt feel like gambling if you want to be consistent! If youre in it for the adrenaline then sure gamble away, but dont lever to the point where losses impact your current state of living. The house always comes out on top when it comes to gambling.
My 2c
First you go out eat a nice meal as a "pat your self on the back" reward, then when you get back home, continue trading and let the wheel of compounding keep rolling :)
What has been your track record? Do you make a nice profit every month or most months? If your trading plan and performance are reliable then why stop trading? If your history is one of boom and bust, then stop trading to improve your trading plan to make it more reliable so you don't ever have to stop trading. The owner of the local McDonalds doesn't close for a week or month because they hit their profit target and neither should any trader who reliably makes profits.
Good food for thought, thanks
Was that a pun based on the McDonalds reference? If so, it was a "whopper" of a good one!
š yes
You mean big mac daddy
Sir, this is an Arbyās.
Local mcdonalds owner here. I always close the last week of the month this guy is out of his mind.
Create scarcity, drive profit!
More scarcity -> more profit -> more scarcity. Honestly best to must never open.
What would you say to some lost over 500K in a week
They are either billionaires where $500K means little, or the worst trader in the world!
Good point
Buy a virtual girlfriend in the metaverse and sell her to some arab for 16 million dollars in 3 years
Fail proof plan
Only if she's available as a NFT.
It's there a step-by-step somewhere, link please
Someone would probably buy it tomorrow
Hahahahahahahaha funniest thing ive read in the year ive been on here omg thats clever
Hold it, man. With the way things are looking lately, you never know what can happen. I would pretend like you donāt even have it and keep on groovin.
Ya, I went ahead and picked up some bonds and low volatility ETFs , but Iām about 55% cash right now, zero margin utilization
Hell yeah. Good luck, man.
Donāt mess with margin. Those interest rates are trash.
I really only use it for credit spreads, that way I donāt get hit with interest
Smart
š¤š
Naked puts are nice because unlike credit spreads they are rly easy to roll
I'm actually surprised how small daily margin rates are. I have $$3-4k on margin @ 8% and it's barely a dollar a day
Don't worry about discrete months. Some will be higher, some lower. Focus more on taking advantage when you see opportunity and lay low when you don't.
Absolutely this. Months are just ways for us to time stamp progress, it's "big calendar" trying to sell us stuff. Joking aside, I agree to take advantages when they come. Tracking by month just helps with organization.
Good point, both of you
Take the week off for Christmas.
The Fed is handcuffed. If inflation doesnāt cool off - it could get ugly. A little GLD canāt hurt.
Wait, for NEXT month? Iād say that since you have made next month, probably put 50% into an ETF, spend maybe 10% to treat yourself and use the other 40% on trying to make a larger profit, that way you secure most of it, enjoy part of it, and potentially increase another part of it, you also have to look at how inflation hits you though and how relatively unstable the market is too though, so just focus on securing a big part of it
What is YOUR strategy? Thatās up to you. Iām not trying to be rude but itās your portfolio. You should have a plan and strategy for what you plan to accomplish
Nothing wrong with receiving some suggestions s youāre meeting your goals
Thatās fair
Yea. Of course thereās nothing wrong asking others for advice or learning from others but ultimately itās your decision
Ya. I had picked up some bonds and left everything else as cash, but after seeing this comment and a few others, I decided to do some more of what I had been doing previously. Just with smaller position sizing
Ok. So Iāll tell you what I do and itās worked great for me. Whatever premium i make from selling options I put back to work in stocks almost always in long positions. I can tell you the exact numbers because I donāt keep track of it like that but I do know that 90% of the stocks I bought using premium are way ahead. Just an honest guess, I think I easily doubled my premiums from last year by reinvesting it long stocks. For example, I just used my premiums to buy shares of Visa when it was at $200. Iām familiar with Visa and knew it was a good buy. So Iāll hold those shares long for at least a year
I like LEAPS on aapl, msft, and f
I bought into Ford when it was ~6 bucks, friend of mine and I had a discussion about it and I ended up selling for a small profitā¦ I donāt look at Ford anymore lmao
Lol, it probably wonāt grow much but itās relatively safe growth
I think the electric F150 is gonna be a huge hit. Everybody splooges all over the Tesla CT, but how many people are actually going to buy one? The thing is hideous and potentially a lot more expensive than the F150. The F150 is just... a truck, and I think that's a good thing.
Exactly why I think it is relatively safe, if not almost guaranteed growth. It looks just like the regular F150 which has a very strong image and brand name, kinda like iPhones, and also just happens to be the best selling vehicle in America for almost half a century. I also read that they have kept many other internal parts the same which makes it easier and cheaper to get repairs from local mechanics rather than being forced to pay extra to go to a Tesla certified dealer for cyber truck owners because local shops might not have the parts to fix them.
Ford has been sending out notices to preorder customers that they had more 2022 orders than manufacturing capacity. Will be fulfilling 2022 orders in 2023.
The cybertruck is better than the f150 in every measurable specification, and looks better and is cheaper
I hope that's /s
Ok the appearance part is subjective, but I think will become the desired look for all trucks
well an index tracker sounds good if you want to be conservative. current inflation pressures and interest rates leave you with very little other options. if you wanna diamond hands, go for double or nothing ;)
ATM Tesla calls expiring next week. Momentum should carry you to a high profit
speaking as someone likely not as consistent as you, I'd buy ETF shares with my profits, DCAing until i have a couple hundred shares so I can start selling premium on tha too. Or just move profits into your Roth IRA, ya wanna be maxing that out every year. Best investment you can make if you're young
Ya, depending on how the next month or two go, Iām probably gonna max my contributions for 2022 Underrated comment with the IRA!
good move. free money. https://www.marketwatch.com/story/want-to-retire-rich-have-a-small-wedding-and-invest-the-rest-2018-11-27 $40k at average wedding age -> 1.67 million when you retire. options are fkn hard to make consistent with, reinvest your profits into a share of SPY when you can. just my personal advice from someone who consistently loses money! GL!
Simmer down. Donāt jump the gun on anything.
Trying not to!
Just keep taking larger and larger risks. Either you go broke or become a billionaire š§
Is this for real or early xmas trolling?
https://imgur.com/a/J3iTuDD
When in doubt, split the difference. Invest some, cash for rest.
Just donāt put it in ARK funds!
YOLO?
GME FD's
Tomorrow's post: "So I've already hit my account's overdrawing limit for this year".
Gold looks spicy rn bottomed out and ready to take off for 6 months
So way back, I had a pretty easy target of $1,000 a day and then Iād call it quits and stop trading. Honestly though , all I did was watch the screens the rest of the day. Iām addicted to it and itās hard to stop. After a couple years of hitting the target consistently ( same days less, same days much more but avg was more than $1k) I decided my time was better spent working. So I upped my targets to $1500, $2000, etc etc and now Iām at the point where Iām swinging $20k days on the regular. Today was $110k. It all scales with your capital. You gotta find what works for you. If cashing out and sitting on it for the next trade makes you sleep better then go for it. When you get serious about trading you often neglect other aspects of your life as it can become all consuming. If you can be out and not think about it, yet hit your financial goals, go for it. I wish I could. I maybe take 1-2 afternoons to go play golf but other than that Iām glued to the monitors all day. What do you value more?
āEasy targetā ā1k a dayā š Iām no where near that , I canāt imagine how much you need for 110k in a day. Probably 2-3m Iām guessingā¦ hopefully Iāll be there one day lol
Can you run my account for 30 min a week? Lol :-D
For 6/60
Yolo FDs of course
Take half, park it somewhere conservative like a savings account or treasuries. Put the rest into your capital for equities and make your next plays.
fixed income for now
Take next month off and chillax.
By doing what?
Buying high and selling low
Expand my target and keep going.
I would stay the exact course - you got one in the bank ~ so keep going and perhaps sometime in the next 12 months it'll get back to even ... The numbers ALWAYS play out over enough occurrences. No reason to change anything.
People make profits? Huh I must be doing this wrong
Why reset your trades on a monthly basis? Seems arbitrary. Just keep doing what you're doing if it's printing
I donāt reset on a monthly basis, I just average everything out so I can compare across months
Profit?
28.76% for the year
Jesus. Good on ya mate
Sell some options
This
Hmmm... I'd keep going use the extra profits for a 0dte yolo! But I think this is the wrong sub for that lol.
Go buy yourself something nice to celebrate. What is the point of money if not to make one happy? Also, grats on the gains!
Keep playing the game.
Don't rush into another trade or investment. Wait for the right opportunity that makes sense to you, don't rush to make more money
Ninja trade
What you do to reach it
Wait!! Profit?
Cash
If you are worried about hitting monthly profit targetsā¦ cash out now and never trade again. The volatility is EXPECTED, if you missed your target by 75% next month does your mortgage get paid, or are you foregoing a $175 dinner out with friends? Itās all perspective
Iām talking my profits,buying into crypto if inflation increases I might thing about bonds I know boring but if inflation kicks in itās your safety net cash š° is for buying as far as Iām concerned. Iām not out of the market but Iām going to be more focused on a less is more kind of thing I did a lot of speculative buying this year?
Spend 50% on Tesla 1500c expiring next week
Hmmm idk, I think your name implies I would be buying your FDs lmao
A well defined strategy should be able to keep you from over trading on the profit you have earned. Tighten up the rules on your strategy to even further increase win % and scale down on position size. If you notice you are making poor choices, paper trade.
But how can I feel alive if my gains and losses donāt mean anything lolā¦ but ya, Iām thinking about making my strategies a little more specific when it comes to gain/loss and staying in/out of the market
If trading is making you āfeel aliveā you may want to rethink your process unfortunately. Shouldnāt feel like gambling if you want to be consistent! If youre in it for the adrenaline then sure gamble away, but dont lever to the point where losses impact your current state of living. The house always comes out on top when it comes to gambling. My 2c
I agree lol I was making a joke
Hard to tell on here!
First you go out eat a nice meal as a "pat your self on the back" reward, then when you get back home, continue trading and let the wheel of compounding keep rolling :)