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This isn't just any old wheel strategy.

Refresh my memory between the two of us who's driving the (2008) Lambo?

Sold a put! It was a typo...I bought to close at .05. Tao you should be able to deduce that from the information. :) P.S this is why edits should be atleast 24 hrs...and quotes should be updated when op is updated.

Sry typo as mentioned...sold a CSP. I bought to close it for .05.

(2008) Lambo :) I was only risking $5400 in the trade...well technically that's the maximum risk... statistically risking 1SD and that's only if you close the position.

Hey! I was talking about the the no risk management approach like last year.

Wrong. Markets are never irrational. Traders are irrational.

I told you I've run the numbers. Doesn't matter!

Don't fall for these trick questions that D always comes up with... selling puts or selling calls have a higher chance of profit than buying puts or buying calls. That's the answer.

By managing risk, do you mean realizing losses? Then no, I don't do that. In my opinion, any strategy that involves closing positions for a loss will guarantee you lose money in the long term. At the very least, it won't perform any differently than if you just let everything run what you lose...

I've run the numbers for the worst case scenario and it doesn't matter. What made this one funny is I was almost trying to lose money but the market wouldn't let me lol. I mean it tried but I ignored it...you guys would have folded.

I almost completely forgot about the trade. Honestly, the best trades are the ones you don't even know you made money on.

That's exactly how it works. The reason traders lose money is because they lose money. Actually I was applying foresight that the trade would likely go against me, but I know I have numbers and stats on my side so I went for it anyway. .

I bought a CLSK Mar8 18 put a few days ago, and it was down and over $4 ITM, and I was down over $1200 on the trade. Did I close it? Did I have stops in place? No way. Today it was OTM and I closed for .05. THIS is why I never close a trade for a loss. :) The funny part is when I sold the puts...

Well technically rent isn't increasing because of inflation, its increasing because mortgage rates have quadrupled.

Yes, I buy leaps all the time... Not going to buy one at these levels though. I'll wait for some sort of capitulation.

I come from the view point that if bitcoin doesn't go to zero and cease to exist, then it will continuously reach ath's. This has been as dependable as the sun rising every morning. I am a million percent certain that if bitcoin doesn't go to zero it will go to 1 million.

Great example of the determinism of the market. The chart is moving through a large C&H, and the news is just aligning to facilitate the C&H. The news has no consequence on the actual price. You have to flip the way you think on this, but essentially the C&H is inevitable. It is a pattern that...

All markets should be 24/7. Risk management, THE most important factor of trading success goes out the window when you are left unprotected during the most crucial time of the market. Hmmm almost seems like the game is rigged...it's like making a law that says you can only where your seatbelt...