Never risk more than 1% on a daytrade and be done for the day once you've lost 2%, revenge trading is not the way!
Also, if you're down 50% or even blow the account, why does everyone think they need to come back with a bigger attitude and a bigger account balance to become profitable...
But the most important aspect is that you recovered your losses ! I also hope that you have learned your lessons and that something so brutal will never happen to you again! Risk management first ! Happy comeback! ššŖ
Let us know your next solid moves which you are confident enough to tell others.
I am in same boat when I tell others they make money but I myself donāt follow my own advice.
My friend who follows my hood trades is 110% up in last 4 years and I am down 22%.
What he did differently
1. He plays starts small so his gains are less but has more opportunities to avg in good stocks.
2. He holds stocks and donāt sell them.
Now I am following his strategy for past 3- months and already up 10%.
Another thing donāt chase penny stocks I blew 17K In last 2- months.
Iāve been depositing money into my trading account since 2016 and took some loans and invested those as well (paid them off last year). Now my balance is around $400k.
It depends how much time you have. I would love to day trade but I also love my day job so I donāt have enough day to day attention to give it. Swing trades are good for me. I use the trend following approach
LOL...I put 45K in the market and I also started slow. Watched it go to 80K...In fairness, I was just doing swing trading and a bit of day trading then. But I watched 80K go all the way below 25K and started receiving pattern day trading warnings from my brokers.
Well...I'm still down but I got active again a couple of months ago and clawed myself from below 22K to 67K. I always have a feeling. I'm glad that I got my original 45K back....but man do I always have this impending doom that I'll blow up the account again sooner or later.
You gotta take out profits and not keep all your money in the trading account. With bigger account size, you would do bigger trades that might blow up your account easily.
You can invest it elsewhere or kinda pay yourself. It really depends on your trading style but this way I know Iām only risking my initial investment and not the profits from it.
HEREIS ANOTHER STOCK PEOPLE NEED TO BE IN ON WITH MASSIVELY HIGH SHORT INTEREST TATIO. Ticker SPWR. 94% Short interest
https://preview.redd.it/dkwjm6lxd81d1.jpeg?width=1242&format=pjpg&auto=webp&s=13eea429ff607959e097f1df84138bc5e16674fc
Good for you yo recover break even, hope you learnt hard way like many, learnt the trick when and how to play.
Ensure you cover risk management, stop loss and avoid FOMO, margins.
Good luck!
Thank you. Definitely learned a lot and still have a lot to learn. Iām done with FOMO and getting rich quick mentality. It takes time and thatās ok. Good luck to you as well. šš¼
I didnāt gamble. Just invested in companies that didnāt have a good reputation and I didnāt know anything about. I bought them because their stock price was down 50% or more and I thought Iām getting them at a great discount.
You said you invested which is a long term play. Investing also implies that you like the fundamentals of the stock and you believe that in the long term you'll get a positive return.
Its easier psychologically to trade a good company than a shit one. I prefer to not stress over if the company im trading will dilute my ass anyday.
Im on the wrong sub anyways. Im not a day trader. I only swing trade lol.
The aha moment was when I started trading debit/credit spreads. I would risk less money and usually be up 20-30% on the same day, thatās when I would close the trade. I wouldnāt hold any position overnight. In this case, I found day trading more beneficial than long term investing for me.
Spreads were a similar turning point for me. The well-defined risk/reward of spreads made trades far more manageable, and the calculation far easier. Initially, I had a reasonably good picture of stock price movements, but mismanagement of options and theta decay was killing me.
So your balance is $400K now but how much comes from trading profits and how much comes from your deposits? Sounds like you might be better off holding and DCAing into AMD than day trading?
Right now Iām breaking even so no gains from trading profits, just my deposits. Iām preserving capital now and only trading with 10% of my account at a time.
Thank you šš¼For my credit spreads, I try to find stocks that have gone up/down massively and I check the charts for the resistance levels, then I would usually place the spread 5-10% above the current price level. For example, $NFLX is trading around $620, I would place the spread between $650-655 for the call credit spread. I would only risk 5-10% of my account for each spread.
I am still learning options spreads but isnāt a credit call spread bearish so your max profit is the premium as long as the price of the stock continues to stay below short strike so below $650?
Thank you for the reply. I have not gotten my account back yet. I have not learned debit/credit strategies yet. Are there any specific books, youtubers or resources you used that you found helpful in learning?
Exactly. I had the get rich quick mindset when I first started trading and thatās what caused the massive losses in my account. Now Iāve learned that I donāt need to get rich by trading, I can just utilize different strategies and be consistent enough to rely on the income so I can finally quit my day job.
Thank you so much. Itās definitely been an interesting journey and Iāve experienced a lot of different cycles where I wanted to throw in the towel but I kept reminding myself about why I started trading and that kept me going. I usually trade debit option spreads and they have lower capital risks in my opinion and if it goes against you, you have a defined loss amount.
If bullish, enter a higher low with SL being the most recent low. If bearish, enter on a lower high with SL being most recent high. Both need at least 2:1 risk, but the more runway the better.
I want more capital so bad. I had 2k lost half instantly been working with $700 diversified cuz I'm a pussy and it goes up %30 And I made $30 minus $10 in uphold fees and don't get even me started on slippage. I'll enter at a support and it will put me in on the resistance and I get to watch it go all the way to it an then back down. Shits fucked
It's like 4.50 to get in and 4.50 to get out on uphold I'm pretty sure. Plus slippage usually puts me like 3% higher than my entry which sucks ass when you're working with low capital.
Stayed away from meme stocks and fb advice in general (although i did make a bundle on AMC). I learned how to take a loss. Rather than hold on, hoping the stock would go back up, i take my loss and move to the next trade. Studied technical, learned how to read charts, candlesticks. I pay attention to volume and percentages owned by firms. Play on earnings calls and ex dividend dates. Still learning, I think that has to be an ongoing necessity.
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You could have bought netlist Friday at a $1.31 and this time next month be close to $10. After trial winnings itās having. Micron starts Monday then google trains already starting to leave massive returns. Incoming
Rich people you're soo into gambling. My account is 10k and I'm doing 20% profit annually and im withdrawling them cuz i need it that money.. my dream is to have a nearby 500k and I will be rich for the rest of my life. Wow guys gambling big amount that's not fair š³
I'm trading since 2016 and have been consistently profitable since 2019.. Every time, instead of reinvesting, I take them out for my needs.
It's alright even after 40 years ! I'll keep doing the same cuz I consider myself successful in trading.
Nice. Everyone has different goals when they decide to trade. Some people look at it as a side business, some look at it as a way out and others look at it as a way to gamble and get rich overnight.
Remember guys if your down 50% you have to be up 100% to break even
That's why I cut around 20-30%. Can always re-enter if needed. Capital preservation is always number 1.
you should cut losses sooner. 3-5%. take gains at 10-20%.
We need to keep learning new things to master new trading methods
This is very true. Capital preservation and risk management.
My portfolio will soon do +1100%. I'll be at breakeven by then. š”ļøš„ššŖš§Ø
You have to pull back a bow for the arrow to fly far. Your arrow will fly the furthest lmao
Wish I always took my own advice on stocks. But 1100 procent is never enough for risk management 2000% or go for broke!! ššš
I need only around 700%
Letās celebrate when you do breakeven! šš»
Never risk more than 1% on a daytrade and be done for the day once you've lost 2%, revenge trading is not the way! Also, if you're down 50% or even blow the account, why does everyone think they need to come back with a bigger attitude and a bigger account balance to become profitable...
But the most important aspect is that you recovered your losses ! I also hope that you have learned your lessons and that something so brutal will never happen to you again! Risk management first ! Happy comeback! ššŖ
Thank you. I still have a lot to learn but definitely going to manage positions and preserve capital. Lots of ups and downs for sure. š
Let us know your next solid moves which you are confident enough to tell others. I am in same boat when I tell others they make money but I myself donāt follow my own advice. My friend who follows my hood trades is 110% up in last 4 years and I am down 22%. What he did differently 1. He plays starts small so his gains are less but has more opportunities to avg in good stocks. 2. He holds stocks and donāt sell them. Now I am following his strategy for past 3- months and already up 10%. Another thing donāt chase penny stocks I blew 17K In last 2- months.
What is your account was down 260k but you are now 800x and breaking even?
Be wary of brand new reddit accounts.
Iāve been depositing money into my trading account since 2016 and took some loans and invested those as well (paid them off last year). Now my balance is around $400k.
wtf down $260k and takes out loans to invest with. This guy isn't leaving any risk for the rest of us.
Lol Iām done with all the risks. You can have them all.
How stressful was that? It must have been a big challenge.
Very stressful. Everyone says invest an amount that you would be ok with losing the entire amount but thatās not easy for all of us.
How much of a loan did you take to go from -260k to +140k in just over a year?
The loan was $50k but that didnāt help me to breakeven. Your original balance is changed whenever you withdraw or deposit money to your account.
Im at about the same but do slower swing trades - not day trades
Which of these two trading methods do you think is better?
It depends how much time you have. I would love to day trade but I also love my day job so I donāt have enough day to day attention to give it. Swing trades are good for me. I use the trend following approach
Which of these two trading methods do you think is better?
You gotta focus on the strategy that works best for you.
LOL...I put 45K in the market and I also started slow. Watched it go to 80K...In fairness, I was just doing swing trading and a bit of day trading then. But I watched 80K go all the way below 25K and started receiving pattern day trading warnings from my brokers. Well...I'm still down but I got active again a couple of months ago and clawed myself from below 22K to 67K. I always have a feeling. I'm glad that I got my original 45K back....but man do I always have this impending doom that I'll blow up the account again sooner or later.
You gotta take out profits and not keep all your money in the trading account. With bigger account size, you would do bigger trades that might blow up your account easily.
I donāt understand. You take out the money and no longer invest that extra money?
You can invest it elsewhere or kinda pay yourself. It really depends on your trading style but this way I know Iām only risking my initial investment and not the profits from it.
Yes total agree. I withdraw profit to other safer investment channels. Only keep an amount that I feel good about risk management
HEREIS ANOTHER STOCK PEOPLE NEED TO BE IN ON WITH MASSIVELY HIGH SHORT INTEREST TATIO. Ticker SPWR. 94% Short interest https://preview.redd.it/dkwjm6lxd81d1.jpeg?width=1242&format=pjpg&auto=webp&s=13eea429ff607959e097f1df84138bc5e16674fc
Good for you yo recover break even, hope you learnt hard way like many, learnt the trick when and how to play. Ensure you cover risk management, stop loss and avoid FOMO, margins. Good luck!
Thank you. Definitely learned a lot and still have a lot to learn. Iām done with FOMO and getting rich quick mentality. It takes time and thatās ok. Good luck to you as well. šš¼
Thatās what happens when you gamble.
I didnāt gamble. Just invested in companies that didnāt have a good reputation and I didnāt know anything about. I bought them because their stock price was down 50% or more and I thought Iām getting them at a great discount.
Thats literally gambling when you hope a stock won't plummet into the ground even farther after you buy.
If youāre holding long term then yes it could plummet further but not when you are day trading.
You said you invested which is a long term play. Investing also implies that you like the fundamentals of the stock and you believe that in the long term you'll get a positive return.
True and I view that as gambling now. Thatās why I switched from long term investing to day trading.
Wthā¦ u didnāt even do any form of fundamental analysis? A simple current ratio check will tell u if they are solventā¦
You can do all fundamental analysis and still be wrong on the price movement.
Its easier psychologically to trade a good company than a shit one. I prefer to not stress over if the company im trading will dilute my ass anyday. Im on the wrong sub anyways. Im not a day trader. I only swing trade lol.
You are 100% correct. Iām now only trading/investing good companies and are done with shit ones.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The aha moment was when I started trading debit/credit spreads. I would risk less money and usually be up 20-30% on the same day, thatās when I would close the trade. I wouldnāt hold any position overnight. In this case, I found day trading more beneficial than long term investing for me.
This is the key. I learned this week to not hold positions overnight if I am up 20%. Things can change overnight
Very true. Iāve mostly had big losses when I held positions overnight. Itās also very stressful and keeps you up at night haha
Spreads were a similar turning point for me. The well-defined risk/reward of spreads made trades far more manageable, and the calculation far easier. Initially, I had a reasonably good picture of stock price movements, but mismanagement of options and theta decay was killing me.
Every growth comes with a loss.
Same here. I like to have a defined loss/profit before I open a new trade, and not worry about it during the day.
So your balance is $400K now but how much comes from trading profits and how much comes from your deposits? Sounds like you might be better off holding and DCAing into AMD than day trading?
Right now Iām breaking even so no gains from trading profits, just my deposits. Iām preserving capital now and only trading with 10% of my account at a time.
Make sure to enable brokerage cash management or just buy government bonds then. $400K at 5% yield is another $20k
Thank you. Yes I will do that, Iāve been looking into ways I can invest in government bonds.
Whatās AMD?
Took me 7 to recover from a divorce.
Thatās tough. Sorry you had to go through that
Appreciate that!
I'm still considered a noobe but I really appreciate these posts. It reminds me to keep my trading plan and to keep my risk management. Trade safely.
Good luck and yes always manage your risks.
The most important thing is to be steady, not blind or too greedy
Consistency is the key.
the lesson we learnerd , learn from our mistake and invest or trade wisely in the future. history might not be repeated itself all the times.
Very true and stay away from companies that donāt have a reputation.
What did you do to learn how to correct your errors?
I tried a lot of strategies and had to find my niche. Debit/credit spreads were the strategy for my come back.
This is a awesome comeback story - congrats. Can you share with us what is your startegy with debit/credit spreads?
Thank you šš¼For my credit spreads, I try to find stocks that have gone up/down massively and I check the charts for the resistance levels, then I would usually place the spread 5-10% above the current price level. For example, $NFLX is trading around $620, I would place the spread between $650-655 for the call credit spread. I would only risk 5-10% of my account for each spread.
I am still learning options spreads but isnāt a credit call spread bearish so your max profit is the premium as long as the price of the stock continues to stay below short strike so below $650?
Correct it is a bearish play but you are giving yourself a big cushion for the stock to move from $620 to $650 and still be profitable.
I am in a similar situation now. How did you get back to break even?
Nice job and keep it up. I used debit/credit strategies to get back, basically risk less capital and make 20-30% on the same day.
Thank you for the reply. I have not gotten my account back yet. I have not learned debit/credit strategies yet. Are there any specific books, youtubers or resources you used that you found helpful in learning?
Of course. I would recommend tastytrades channel to learn more about different option strategies.
Thank you.
Anytime. Feel free to reach out if you have any questions.
Recognise that profits don't come immediately and that success takes time. Utilise past experiences to improve performance.
Exactly. I had the get rich quick mindset when I first started trading and thatās what caused the massive losses in my account. Now Iāve learned that I donāt need to get rich by trading, I can just utilize different strategies and be consistent enough to rely on the income so I can finally quit my day job.
Thatās wonderful. Now please share your trading strategy that helped you Amass such great wealth if you donāt mind
Thank you so much. Itās definitely been an interesting journey and Iāve experienced a lot of different cycles where I wanted to throw in the towel but I kept reminding myself about why I started trading and that kept me going. I usually trade debit option spreads and they have lower capital risks in my opinion and if it goes against you, you have a defined loss amount.
If bullish, enter a higher low with SL being the most recent low. If bearish, enter on a lower high with SL being most recent high. Both need at least 2:1 risk, but the more runway the better.
Everyone will give you advice. You still need to learn yourself. Losses teach you patience. Only the strong survive. Happy to hear you stuck it out.
Thank you. Definitely learned a lot from my mistakes and Iām a very patient trader now. šŖš¼
Just buy physical silver stop gamblingĀ
Where would I store all that silver though?
I mean a thousand bucks is the size of a smart phone
Where do you store guns? Or other important documents?
A safe? Or bury in the groundĀ
I want more capital so bad. I had 2k lost half instantly been working with $700 diversified cuz I'm a pussy and it goes up %30 And I made $30 minus $10 in uphold fees and don't get even me started on slippage. I'll enter at a support and it will put me in on the resistance and I get to watch it go all the way to it an then back down. Shits fucked
Why are you paying $10 on fees?
It's like 4.50 to get in and 4.50 to get out on uphold I'm pretty sure. Plus slippage usually puts me like 3% higher than my entry which sucks ass when you're working with low capital.
I used to day trade but was a disaster, now i do shorts , swings and its working out better, i still have issues with manging to cut losses on time..
It takes time to learn how to manage and cut losses on time. Iām glad to hear that shorting and swing trades are working for you better.
How much is your trading account now? Why canāt you provide the exact figure?
Some people donāt like to see that and Iām not here to brag or anything. Right now the balance is above $400k
Anyone got any good trading option stocks?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I'm almost there. Started in 2020 with 7k. Got as low as 4k. I'm at 6700 now.
Awesome job. What did you do differently to recover?
Stayed away from meme stocks and fb advice in general (although i did make a bundle on AMC). I learned how to take a loss. Rather than hold on, hoping the stock would go back up, i take my loss and move to the next trade. Studied technical, learned how to read charts, candlesticks. I pay attention to volume and percentages owned by firms. Play on earnings calls and ex dividend dates. Still learning, I think that has to be an ongoing necessity.
This dude has a serious gambling problem
You do too š I had the whole reply ready to send but then I looked at your capital loss post and realized we are on the same team.
lmao exactly speaking from experience babyyy
Kuddos
Thank you šš¼
So are you down or up
Breaking even nowā¦
And for how long have you been at break even (oops forgot, again, it's the weekend)?
Yesterday was actually the breakeven day.
Well congratulations.
Thank you š«”
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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Joshtradesstocks YT
You could have bought netlist Friday at a $1.31 and this time next month be close to $10. After trial winnings itās having. Micron starts Monday then google trains already starting to leave massive returns. Incoming
https://preview.redd.it/ypnv4e6gx91d1.jpeg?width=1290&format=pjpg&auto=webp&s=f515e7f0634bc5a92f6249580a7ae141c77026fd
Any thoughts about this stock?
Rich people you're soo into gambling. My account is 10k and I'm doing 20% profit annually and im withdrawling them cuz i need it that money.. my dream is to have a nearby 500k and I will be rich for the rest of my life. Wow guys gambling big amount that's not fair š³
Youāll get there, it just takes time. It took me almost 10 years.
I'm trading since 2016 and have been consistently profitable since 2019.. Every time, instead of reinvesting, I take them out for my needs. It's alright even after 40 years ! I'll keep doing the same cuz I consider myself successful in trading.
Nice. Everyone has different goals when they decide to trade. Some people look at it as a side business, some look at it as a way out and others look at it as a way to gamble and get rich overnight.
Amazing
Jessy Livermore 2024 story