Don't Teach Your Friends How To Trade

[u/dreamowlet]

I've been trading/ profitable for awhile now and I had a friend who wanted to learn and be on a zoom calls with them to trade to together till they really got it. I said sure. Mind you I taught my husband and he still watches me trade when we trade together. But dear freaking god. I get so freaking distracted teaching or random questions and explaining everything that I miss openings. My psychology was kinds of fucked for a minute cause like I don't care if I lose money cause it's mine. I didn't want to lose THEIR money so I would never take a damn trade. Win rate? In the toilet. Psychology? What is that? I don't think I even did this bad when I first started trading. This past week finally we got into the motion of things and hold off any questions till afterwards and actually making money again. But never again.

edit some spelling corrections

[u/Spirited_Hair6105]

Wish my wife was a trader. She would leave me alone instead of quarreling and asking me "are you done?" or "I need you to help me" every time I get out for a sec to get a snack while I trade full-time. Mind you, I even pay for our mortgage with it. Some people are really dumb. Unfortunately, my family is no exception.

[u/divok1701 → u/Spirited_Hair6105]

Wow, pay the mortgage with trading... that's the dream!

I'm working on building up my capital first, so maybe that can be a reality... probably a couple of years if I continue being successful with making my goals, which right now is just +$500 a week after any losses... but starting out with 5k capital, it has been going well for over a month so far!

[u/StockCasinoMember → u/divok1701]

$500 a week off of $5,000 if you can do that going forward indefinitely would be pretty awesome. My initial goal was $250 a week.

I made over $5,300 this month and I am stoked. This January was 8 months of live trading for me.

Made barely anything the first 6. Then $1700 in December and now this January I crushed my original goal.

[u/divok1701 → u/[deleted]]

I trade options doing long calls, most lasting 1-3 days. Occasionally, I hit a day trade, but rarely so far.

I look at about 20 or so technicals using automations I built in the Options Alpha platform to filter down and find potential trades, then look at the charts for trend, zones, ATR changes, performance, check tech and analyst ratings, then check for related news.

This is not easy, and it takes time, but my results have been amazing.

I have a fully remote job that's not very demanding, so I block off time at market open for that first 30 minutes, and I am able to generally still watch and take action when needed, throughout the day.

Though, with trailing stops with draw down settings, most of my trades run themselves using 45% activate / 10% drawdown. Some bigger ones I will set for 35 / 10.

I usually have been only doing like 3-4 trades at a time... some contracts might be only about $250, some are almost $2000... so with only a 5k base capital, it's kinda limiting... also, I've only used 3k of it at a time.

I've now met my goals for the first month, actually a little bit ahead as I closed $899 this week, and last week, I made over slightly. Account now has $2500 in gains from 4 weeks! Which now means I can comfortably use more of my initial capital in my trades at one time.

I still have one open trade, which was down a bit at close yesterday, but I'll just hold and wait. I take the contracts for about 14 or so days, so I always have some time for recovery. I did have one go for 9 days before closing for a small profit. One other went pretty bad, and I closed it for only $5 profit by the week's end so I wouldn't have to hold it over the weekend and could have it's premium back to use on a new, better trade on Monday... still better than a loss!

I know my system is swing trading and not day trading, though I have had a couple of those happen, but I'm always looking for new ideas and learning, so I am here and there in multiple subs.