Yeah... It sounds bad. But I've been spoiled by Robinhood "zero commission" model. That's why I feel that paying $450 in commission is such a big deal. $450/$3000 is a 15% transaction cost! That's crazy in any other markets...
Made a lot of progress, but feel like there's so much more to go...
- Thread starter trader99
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Yeah... It sounds bad. But I've been spoiled by Robinhood "zero commission" model. That's why I feel that paying $450 in commission is such a big deal. $450/$3000 is a 15% transaction cost! That's crazy in any other markets...
Mmm. What does your PnL window indicate after the commies are taken out? What is the number there?
Ahh crap, it is 23:30 hours here, cannot wait for your response and have a silly thread convo. But basically, just look at that final PnL number after commies and think of what you can do with that money you HAVE earned, not the money you COULD have earned.
Shit, imagine the money you could have earned if you played your local Lottery and won the jackpot. But you did't, so don't sweat it. And if you play $450 worth of lottery tickets and win $3K, do you complain? Nope!
It is certainly a lot better than spending $450 and winning nothing!
Get connected with your perspective!
Shit, imagine the money you could have earned if you played your local Lottery and won the jackpot. But you did't, so don't sweat it. And if you play $450 worth of lottery tickets and win $3K, do you complain? Nope!
It is certainly a lot better than spending $450 and winning nothing!
Get connected with your perspective!
I get it. I get what you are saying. But it's still fair to look for the lowest cost broker/platform. That's why I use IB and Robinhood.
I'm grateful and glad I've done really well in cryptos with like 90%+ win-rates.
holy sh*t! My gold call options just evaporated! I was up $10K on 3 separate occasions with these call options! I couldn't believe I didn't get out totally. Yesterday, I got out some but not enough.
Now I realize options trade very differently from stocks. LOL.
I still in shock! wow. I should be more grateful of my gains and taken them when I can..
Now I realize options trade very differently from stocks. LOL.
I still in shock! wow. I should be more grateful of my gains and taken them when I can..
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That’s why noob (not saying you are one) shouldn’t start with option and should begin with trading stock first. Only when you are able to consistently be profitable then you could move to option, future etc.
This is where the back up plan comes in, sometimes you just get bored ordinarily even when there are no loses. But doing something else helps in another way; it eases you up and reduces your anxiety in the market.
Well, in 2018 I made 110% trading options in my Robinhood account. So, I'm not a newbie to options per se. But I'm still taken back by its movements. Such rapid rise and fall. Now that I understand that viscerally, I would exit at big swings.
Options don't behave like stocks in the sense that even in a trending market stocks can take a breather and rest. But options can't do that. Even when it's moving up and rest options LOSE values due to theta decay and a host of other factors. So it's better to get out at the local highs so to speak..
I understood this theoretically. But now I understand it viscerally...
But everyone here said let your profit run?
If you are net long options, the challenge is if you don't get a few occasional outsize profits, the law of average will catch up with you sooner or later and those small losses will add up and wipe out your net profits.
Just to be clear. I'm not down $10K. I'm down $10K from the highs. My calls are still up $7K. Hopefully that doesn't vanish too. I'll monitor tonight and be supercareful tomorrow.