You could be averaging down with BITI while you wait.
What a stupid study
- Thread starter wxytrader
- Start date
TDOC is one of them....
The PnL potential is garbage...puts are too expensive. Will be better if bitcoin drops enough to trigger fud and pick up some cheap calls. The price targets below would require price moving fairly quickly towards them too.
Just eyeballing it for BITO, 28 looks like a realistic target for May17. This would be the Pnl if your (100) May17 28 put strike was reached by May10.
Just eyeballing it for BITO, 10 looks like a realistic target for May17. This would be the Pnl if your (100) May17 10 call strike was reached by May10.
That looks rough. I usually avoid stocks that have dropped a certain percentage from their ath's. You also have to be wary of a reverse split limiting any potential profits should price ever recover.
A lottery ticket. This one will expire worthless, a total loss unless I stop loss and get out.
What's absolutely useless is your opinion
You posted 1 trade you did,selling ONE put on an 18 dollar stock. Stock cratered,put tripled in your face,you doubled down,and got lucky.
The only reason you lived to tell is you trade 1 lots. I'll give you credit on that. You aren't a "trader", ,i.e exert risk control,and compensate by trading small enough so you can turn investor when wrong.
And again, maybe what you do works for you,but your approach is no doubt flawed.
You don't make money when you are right.
You posted 1 trade you did,selling ONE put on an 18 dollar stock. Stock cratered,put tripled in your face,you doubled down,and got lucky.
The only reason you lived to tell is you trade 1 lots. I'll give you credit on that. You aren't a "trader", ,i.e exert risk control,and compensate by trading small enough so you can turn investor when wrong.
And again, maybe what you do works for you,but your approach is no doubt flawed.
You don't make money when you are right.
What's absolutely useless is your opinion
You posted 1 trade you did,selling ONE put on an 18 dollar stock. Stock cratered,put tripled in your face,you doubled down,and got lucky.
The only reason you lived to tell is you trade 1 lots. I'll give you credit on that. You aren't a "trader", ,i.e exert risk control,and compensate by trading small enough so you can turn investor when wrong.
And again, maybe what you do works for you,but your approach is no doubt flawed.
You don't make money when you are right.
Come on Tao, that trade was many premiums ago. I am testing a mechanical trading system so I pulled the trade even though price was clearly going to drop. I don't think I doubled down...just let it go deep itm and then it expired otm. The reason I posted it was testament to not getting stopped out. If you rely on win rate out performing losses, that is gambling. When I go all in I am 100% certain of the outcome. The only variable is time, and that is also measurable. I don't think you quite realize that EW called for the bitcoin rally in January AND the resulting correction we are now seeing back in summer 2023. I posted many times about it but it fell on deaf ears. There are very few traders on this forum, and even less elite traders. I will say there is a wealth of options knowledge here, but you guys lack the TA to capitalize on it unfortunately.
btw I keep hearing how I get lucky a lot...what do they say about luck?
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Here are the results of my strategy after 48 days...obviously I would be scaling up at some point.
I just wanted to mention that my spreadsheet outputs these results automatically, I don't have to update them manually.
$8500 in capital
- ROR is 68% monthly, compounding to over 500% annually...250% if atr adjusted annually.
- Return on capital is 14% monthly or 168% annually.
It's like compounding dividends.
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The trades appear to be short puts.
What does allocating 8500 in capital actually mean??
Underlying notional?? Margin requirement??
it can't be a stop loss
But then you are risking ATR,as in Average True Range?? What does that mean without a stop??
it appears your percent returns are based off of capital usage,not Total Capital.Am i correct?
What does allocating 8500 in capital actually mean??
Underlying notional?? Margin requirement??
it can't be a stop loss
But then you are risking ATR,as in Average True Range?? What does that mean without a stop??
it appears your percent returns are based off of capital usage,not Total Capital.Am i correct?
Here are the results of my strategy after 48 days...obviously I would be scaling up at some point.
View attachment 337253
I just wanted to mention that my spreadsheet outputs these results automatically, I don't have to update them manually.
So I am ever only allotting $8500 in capital, but only risking (atr) about $2800. So really the return is 68% monthly, compounding to over 500% annually...250% if atr adjusted annually. It's like compounding dividends.