IWM Reddit Mentions | ChartExchange

Day 2, Week 17. Green. It is not a challenge, doing normal trades as all of you 🙂
IWM trying its best to see her 300 or going back to cheat down with 295. Still with cheap contracts after third friday and FOMC. Be careful, being cheap does mean I can trade as if there is no tomorrow, not today 😅
My entry time may look similar over last few times, it is just a coincidence. Don't try to force it all the time, you will get burn. Either way, any entry has 50% of it moving in your direction and being profitable. Simple maths. Those who think they are intelligent people will tell me off and say it is not simple. It is! You get in, there is 50% chance it will move and get a profit. Ofcourse, you want to be greedy and get RR ratio before you take profit and get burnt, maybe it is your kink 🤷🏻‍♂️ just like the hunter coming back to the bear to get screwed over again.
I was not trading first hour when I started, I was getting burned many time whe trying to find a consistent strategy. I then traded later in the day (afternoon my time in UK). It is when everyone says it is nap time and market is slow moving, no movement etc. If I were listening to all the popular strategies, I would still be like so many saying I need to reach 5-10 years to start being profitable 🤯 I don't have this time on my plan.
As I write this at 10.08 ET, I am done for today.
I never use Risk Reward (RR) ratio, it works for some people, but this maths does not work me to grow a small account.
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: 30 contracts = $300 total profit.
Total options cost = $1,050
29 % profit
Time in Trade : 13 min. Not really 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 instead of trying to fix psychology.
You have seen even with $10 per contract per day, it makes a huge difference with time. Don't be greedy every time.
Started with $300, just 3 contracts, 17 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.
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 2.51 is 9.51 ET.
I trade on my phone, screenshot is from TastyTrade. EMA 200 and VWAP on the screenshot for TradingView