First things first… Don’t tell my wife. Second. I know what I did wrong, and it was SO many things. Third. Shake it off. I know it’s months of work gone, but I live to trade another day. It’s by far the largest loss I’ve ever had. 30% of my trading account evaporated in minutes. … Read more
Back in my World of Warcraft days, we had a small guild of tightly knit friends (many of us are friends IRL). While there were guides online for new dungeon and raid mechanics, we had our own guild motto: learn by doing. Reading detailed step by step guides and watching strategy videos give good overview … Read more
Today is day 12 that $SPY, the S&P500 index ETF has been on a green tear upwards. The Nasdaq index NDX is slowly creeping upwards while the Russell2000 index RUT is largely flat. With this kind of slow grind upwards, it is very scary to actively trade in the market. As the analogy goes, when … Read more
Today’s stock market after the opening gap up stayed largely flat. But there was still money to be made. In a flat day like today, it is the perfect opportunity for an Iron Condor. The Iron Condor is a Put Credit Spread combined with a Call Credit Spread. As long as the Short Strikes are … Read more
The Financial Industry Regulatory Authority FINRA designates individual as a pattern day trader if he/she executes more than three day trades in a rolling five business day period. If you get flagged, your account is locked from trading any new positions for 90 days. (oh, tt has to also be in a margin account and … Read more
When it comes to competitive nature, everyone is different. Some need to win at all cost. While others just want to have fun and winning doesn’t matter at all. In team games such as League of Legends, sometimes when a team is about to win, someone will put up a surrender vote. Obviously this makes … Read more
The stock market decided to take a dive at about 10:10 am this morning. The S&P dropped 1.0% over the next 40 minutes. DIA dropped 0.8%. And what I really care about was TSLA falling from the market open at $843.15 all the way down to $800.02. TSLA spent the rest of the day teetering … Read more
It’s worth taking time everyday preparing for the next day. You’ll be more focused and less prone to distractions. And with increased efficiency, you’ll save time. When it comes to trading, it’s good to take some time the evening before to scan for potential trades. Set rules for yourself so when market conditions appear you’ll … Read more
This is on my To-Do list. I need create a plan for trading. I need to define the strategy. What to look for; the conditions to determine when to enter the trade. Pick my trade sizes. Select my profit and stop loss targets. Figure out which platform to do all of this in. And then … Read more
Robinhood. Webull. Tastyworks. This morning, these brokerages of mine got shut off from the ability buy stocks or open new option positions on GME and a handful of other stocks. But the ability to sell was still there. And institutional traders can still buy these stocks. There were other brokerages too that shut the ability … Read more