ET Reddit Mentions | ChartExchange

Day 2, Week 16. Green. It is not a challenge, doing normal trades as all of you 🙂
With IWM levels between 300 and 305, it is moving around these psychological levels. IWM seems to go to its former lover of 300 closer each day. Summer time in UK, Europe and northern American, FOMC meeting tomorrow, this is why SPY, QQQ also have some long wicks or shitty candles, still tradable during the day.
If you are not sure, sit on your hands, wait a few days, the market will be still be here.
I got in a bit early as I was a bit bored. Ideally, I should have waited and sat on my hands instead of staying so long in the trade while theta was burning my little cash 🥺
As I write this at 10.16 ET, I am done for today.
Use money you can afford to lose to practice. That's it. Don't use your savings, save money by not buying coffee outside, or give up something, make a sacrifice to get the money to start trading instead of easily taking from your savings.
I never use Risk Reward (RR) ratio, it works for some people, but this maths does not work me, for small accounts and ordinary people who are in day trading and want to profit consistently.
I don't like fancy options strategy like iron condor, selling etc. Using simple EMAs, VWAP etc to see the trends and levels.
One and done: 20 contracts = $200 total profit.
Total options cost = $ 1,320
15 % profit
Time in Trade : 20 min. Not a morning glory trade 🥺
Life is short. One trade a day is more than enough to grow an account. Be lazy. If you have one choice, one trade, you would think twice before entering. No over trading after profit or loss. No hours on psychological stuff to avoid trading or whatever.
You have seen even with $10 per contract per day, it makes a huge difference with time. Don't be greedy.
Started with $300, just 3 contracts, 16 weeks ago, and growing it to $60,000 with 1 trade a day in 6 months target.
My trading plan and strategy is trading one trade a day, 2-5 times a week depending on availability.
No shame or pride to start to trade with 1 contract to practice profit and loss.
If you are learning by yourself, give it 2-3 months to see how you are progressing.
If you believe I am lucky every day with the trades and posts 🤷🏻‍♂️ so be it. I believe I have no choice, I put in the effort and keep doing, any loss is my loss as it is me executing my own trades and money.
I only day trade options on ETFs like SPY, QQQ, IWM etc. Timestamp on the broker is UK time. So, entry time of 2.52 is 9.52 ET.
I trade on my phone, screenshot is from TastyTrade.

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