“Today was a good day I didn’t have to use the AK”
The FOMC play worked perfectly I sold a little too early but green is green. Tomorrow could turn into a trend day if the GDP is positive green green green if it’s negative red red red. I’m betting red and I have 402 puts at 3.05. Tomorrow, please don’t go chasing because the GDP comes in a hour before the open. Please wait for pullbacks to buy and use the fibs like a robot does.
Now I would like to talk about trading strategies with small accounts. In construction we say “if you can’t handle the small things, how can I trust you to handle the big things.” Everyone wants that PDT account but what if I told you its over rated? Focus on the little things so when the big ones happen you are ready. One last quote from Bruce Lee, “I fear not the man who has practiced 10,000 different kicks once, but I fear the man who has practiced one kick 10,000 times”
If you have a small account, please make sure it’s a cash account not margin. You can day trade options all day and the cash will settle the next day. But remember with stocks, it takes 2 days. If you have 500 bucks do only 1 trade a day keep it close to the price of spy if it’s at 390 do a 391 call or 389 put. Don’t get greedy…30% is good enough to start compounding. Please use a hard stop loss not a mental one. They tend to go -30%, then -50%, then you get on the hopium and you lose it all. If you’re wrong, get out and try again. If you have a 5,000$ account only trade 3 contracts when it’s green, sell 2, then leave one as a runner. Put your stop loss at even. At the end of the week pay yourself with the profits made once you have breathing room in your life then start building to that 25k goal. Everyone should have their own personal profit margin PPM whether it’s 20% or 100% when you hit it, get out. Always play defense! Its all about risk management. This is a business and you are the company. We trade in probabilities not certainties. The market is neutral and we are the ones pushing it one way or another. That’s why I always say trade what’s in front of you. If you are taking a screenshot of your gains you should be selling instead. Nobody cares about your 100% gainer! Take your ego out of it please as the market will humble you fast. Base hits all week long. If you need help please send a message. I’m always willing to help those that want to better them selves. I hope this helps! I could keep going but the green chile pork and sopaipillas are almost ready. Good luck and remember its a zero sum game. Believe in yourself!
The FOMC play worked perfectly I sold a little too early but green is green. Tomorrow could turn into a trend day if the GDP is positive green green green if it’s negative red red red. I’m betting red and I have 402 puts at 3.05. Tomorrow, please don’t go chasing because the GDP comes in a hour before the open. Please wait for pullbacks to buy and use the fibs like a robot does.
Now I would like to talk about trading strategies with small accounts. In construction we say “if you can’t handle the small things, how can I trust you to handle the big things.” Everyone wants that PDT account but what if I told you its over rated? Focus on the little things so when the big ones happen you are ready. One last quote from Bruce Lee, “I fear not the man who has practiced 10,000 different kicks once, but I fear the man who has practiced one kick 10,000 times”
If you have a small account, please make sure it’s a cash account not margin. You can day trade options all day and the cash will settle the next day. But remember with stocks, it takes 2 days. If you have 500 bucks do only 1 trade a day keep it close to the price of spy if it’s at 390 do a 391 call or 389 put. Don’t get greedy…30% is good enough to start compounding. Please use a hard stop loss not a mental one. They tend to go -30%, then -50%, then you get on the hopium and you lose it all. If you’re wrong, get out and try again. If you have a 5,000$ account only trade 3 contracts when it’s green, sell 2, then leave one as a runner. Put your stop loss at even. At the end of the week pay yourself with the profits made once you have breathing room in your life then start building to that 25k goal. Everyone should have their own personal profit margin PPM whether it’s 20% or 100% when you hit it, get out. Always play defense! Its all about risk management. This is a business and you are the company. We trade in probabilities not certainties. The market is neutral and we are the ones pushing it one way or another. That’s why I always say trade what’s in front of you. If you are taking a screenshot of your gains you should be selling instead. Nobody cares about your 100% gainer! Take your ego out of it please as the market will humble you fast. Base hits all week long. If you need help please send a message. I’m always willing to help those that want to better them selves. I hope this helps! I could keep going but the green chile pork and sopaipillas are almost ready. Good luck and remember its a zero sum game. Believe in yourself!
Commento:
It’s important to pay yourself once you have your initial investment out of the market know you have a infinite return of money coming back to you. When it comes to taxes always try to save 20% of what you made from the market trust me it’s hard at first but it will save you so much stress, again this is a business and you are the product, manger, customer, insurance etc. Okay I’m done rambling I hope this helps
Commento:
You are player 1 in your world just like I am player 1 in mine. They can raise rates cut rates do whatever they want I’m going to play what’s in front of me I’m not in the business of predicting weeks out let a lone a day out. We adapt and survive.
Trading in the zone get it