IWM Reddit Mentions | ChartExchange

4th day of week 5. Green. I am not yet summing the profits. I don't look at my P&L, it is one thing I learnt when I started. Market does not care about my cash once I did my trading plan. Only the number of contracts matters. Today, IWM was going up, waited for a pullback, got in calls. Ofcourse, I was greedy, I did not close on my $15 profit per contract. It is risky to get in on a pull back and reversal. Many times it works but it can also burn you and drop back all the way. It is like getting out of a junction, you get out based on the speed of the approaching car.
Again the number I keep mentioning in previous posts here, 290. Even though it dropped to 286.66 a few minutes after open, the reversal was quick, then it kicked off back to 288, it can't stay long away from its new lover of 290 (280 was the previous one)
I did not hold my calls until it 290, I would have had 100% profit. I got out around 289.50. My goal is to grow the account, get profit each day trade, not milking it dry. It does not mean leaving money on the table, money is never yours until it hits your bank account.
When you look back on the chart, it is easy to say, you could have held 🙄
No fancy options strategy like iron condor, selling etc. Using simple EMAs, VWAP etc to see the trends and levels.
I have other work things to do. When it went up again, I closed the profit on $25 per contract. Done for the day.
One and done: 6 contracts = $150 total profit Total options cost = $510 30% profit
Time in Trade : 13 min. Getting closer to a morning glory 🤤
Start small, money you can afford to lose, then grow your account. There are other tickers which moves much slower, cheaper to practice with. Make the effort to research and practice.
Don't rely on alerts.
If you believe I am lucky every day with the trades and posts 🤷🏻‍♂️ so be it. I believe I have no choice, to put in the effort and keep doing, any loss is my loss as it is me executing my own trades and money
Started with $300, 5 weeks ago, and growing it to $60,000 with 1 trade a day, is still my goal. If you were also trading, even $10 per contract per day, you will have progressed a lot. IT devs jobs nowadays, you have to these useless online assignments or mini projects as techical tests. The hiring team, barely bother to look at what you have done. They are humans and expect only an answer according to their taste. If not, they just discard and ghost you. You wasted 5-10h of your own unpaid time to work on just a first stage interview. Well, if you add all these time and try to learn day trading, maybe when all these jobs dry out in the near future, at least, I will have money 🤷🏻‍♂️ who knows for them.
My trading plan and strategy is trading one trade a day, 2-5 times a week depending on availability.
I only day trade options on ETFs. Timestamp on the broker is UK time. So, entry time of 2.58 is 9.58 ET.
I trade on my samsung s10e and screenshot is from TastyTrade.