LeVraiPapi
Redemption is Coming
Not trading as much. All into ecommerce now but I shorted some chinese stocks.
My list of Chinese stocks for possible shorts today
NTES
Tcehy
BABA
BILI
BIDU
YUM
Don't trade stock options breh...
- Thread starter LionofJudah
- Start date
Not trading as much. All into ecommerce now but I shorted some chinese stocks.
My list of Chinese stocks for possible shorts today
NTES
Tcehy
BABA
BILI
BIDU
YUM
Xtraz2
Superstar
What’s e commerce? Is that buying from Ali baba then drop shipping?
Whips-n-Chains
Chi
subs...
Def wish I would've been doing this for years now instead of just a few months...
Def wish I would've been doing this for years now instead of just a few months...
Whips-n-Chains
Chi
Also, y'all should sign up to Thinkorswim (TD Ameritrade) it's free to sign up and there are excellent educational tools available for beginners and live webinars daily. When I first started I was buying and selling random calls/puts, getting lucky on some and losing on others and after taking some time to educate myself I'm much more confident in my picks and they've more profitable and I've been avoiding those L's.
Secure Da Bag
Veteran
Be careful, breh. The gub'ment looking to clear Chinese companies out from Wall Street altogether. The bill already passed the Senate and looks like it's gonna pass the House with no Amendments.
Secure Da Bag
Veteran
on that play yeah.You made $10k?
Xtraz2
Superstar
How much money you make off trading
Whips-n-Chains
Chi
Since I've researched and learned more I'm of course doing a lot better. I bought a call on Apple at the $300 strike on 5/13 for $1300, and flipped it today for~$2100. Sitting on some other calls right now too (Draft Kings, $PENN, $AMD, $HAL, $MGM, and a few others) that I'm waiting to flip. My $PENN call is up significantly and it doesn't expire for about 6 weeks. I'm hoping news on casinos continues to be positive so I can let the call print for the next few weeks and flip before exp.
I prefer it than trading actual stock b/c to buy 100 shares of apple and flipping it would cost like $325k, with options you're able to get higher gains (and losses) while playing with less capital upfront.
Xtraz2
Superstar
what about all these people in the thread saying there’s no way to predict the stock market and it pretty much like gambling
do you trade every day? Or just here and there? do you use it as your main source of income?
Whips-n-Chains
Chi
It is impossible to accurately predict the market all of the time. If I had some magic formula or something I'd be a trillionaire...I've just been fortunate to have some plays go my way the last few weeks but trust that I've taken some L's too. I was up like 350% on a call and held on being greedy and it expired worthless. I had OTM puts on $SPY and was making great money with them until the federal reserve unleashed unlimited QE and killed my puts.
I think of it link gambling but with the knowledge you build and some instinct it's like playing poker but starting with some high cards. You're not guaranteed to win the pot but at least the probability is in your favor.
I think of myself as a trend trader...I trade when I see opportunities. I do not trade every day but I'd like to get to that level. I would also love for it to be my main source of income. I have a list of about 10-15 companies that I follow pretty closely and I feel that with some technical analysis I can make some accurate predictions.
I'm willing to help out others as much as I can, it helps me to learn if I can explain my trades.
Try to always buy a strike price that if hypothetically you held til expiration you'd be comfortable paying that price for the stock. Start with ITM calls on something highly liquid and with lots of volume. check out $VUZI, cheap stock with a lot of attention so you can play with some cheap options and if you get killed on them you're not losing too much.
Thinkorswim has options paper trading too which is helpful.
Whips-n-Chains
Chi
This video explains the basics very well...
Xtraz2
Superstar
yeah i seen his videos, he explains things well
Whips-n-Chains
Chi
Yea man...I like the strategy of following a few stocks, knowing the best you can their temporary movements and then buying calls on days when those stocks are in the red. Today I bought some calls on $HAL b/c at the time $HAL was down...the calls were discounted about 20%.
More than happy to help out as much as possible....
Before I buy an options I analyze the risk on thinkorswim and I check for Probability ITM, Volume, Open Interest, Greeks, Probability of touching (if buying ATM or OTM), and Implied Volatility. I've been right on the market direction but I got crushed b/c the IV fell. Best to buy with low IV with the intention the IV will raise and the direction of the stock will go where you are predicting it too, earning with both Volatility & Direction/price.
Recommending day trading is a good way for brehs to lose money.
If you want GUARANTEED wins, play the long game brehs. Invest in low cost index funds and ETF's, and just hold.
But everyone wants that instant gratification.
If you want GUARANTEED wins, play the long game brehs. Invest in low cost index funds and ETF's, and just hold.
But everyone wants that instant gratification.