SUBMIT


  close
There have been some posts recently about this sub not being true to its name. While I do enjoy the gifs, I decided to add some content. My descriptions below are generally very high level, but I'll gladly dive into details if anyone has questions. While the numbers aren't big, most of this is generally speaking a bet for me. I hope to continue to grow my account and bet larger amounts over time. My account: https://imgur.com/a/0aqy6i5 **General strategy:** I started with about $2k and then added another $6k to trade with about $8k overall. In a few months I traded up to $16k and have removed everything except $4k. So now I'm just playing with house money. Below I have captured my strategies. Overall my strategies are to sell put spreads on strong stocks any time there is a dip, or to buy weeklies on really strong stocks any time there is a natural dip less than 1%. Anything more than 1% and I get nervous about it continuing to dip or holding for an extended period of time. Also, I always leave about 30% of my account in cash. This way I can buy large dips. Very rarely have I been 100% invested and it's usually only for a short period of time until positions start closing. I started by trading SPY calls and puts in RH. I would attempt to swing trade during some of the volatility, but I was terrible at it, didn't have enough time or money to buy anything more than OTM weeklies, and the RH interface blows so I switched to a simpler strategy of buying 100 shares of XLK and then selling covered calls. I quickly got bored with this so I started buying XLK calls, and the market went down on the trade war crap. So I took this an an opportunity to switch brokers to tastyworks and I kept buying more XLK calls, all about 2-3 months out. I sat on them for awhile until we had a rally and I was about $2k positive on 10-ish calls. I easily could have blew up my account right away but got a bit lucky by being patient. The learning experience here was to really be patient while the underlying stocks fluctuate in price. Meanwhile, I wanted to practice some other strategies. My overall strategy is to remain bullish. The market always goes up slower than it goes down, but it consistently goes up and it's really difficult to predict when it is going to go down, unless you're buddies with Trump I guess. One stock I have in my don't-touch-it portfolio is Visa. This beast seems to continue to rise over time and cannot be stopped. I started selling put spreads on Visa. Anytime Visa is red, even for just a little bit, I sell a put spread that has roughly a 60-70% chance of profit according to TW. Then I set a limit sell for 60% profit. I rinse and repeat this constantly. So far I'm up a little over $800 the past few months with Visa and opening conservative positions. I plan on continuing to do this with more and more money over time. Right now I'm holding Sept 21 140C, which I plan on rolling profits higher and higher as time moves, if Visa keeps going up. For my more "aggressive" strategies, I tend to trade AMZN on any sort of weakness with weeklies, typically on Thursdays as this gives me a day of recovery. I watch for a .3% to .6% drop on AMZN. Anything more than .6% and I just keep adding slightly-OTM calls if I can afford it. One of these times it's going to just keep dropping and I'll lose everything, but till then it's fine, right?. All I do with the weeklies is watch, and again shoot for a 60% profit on the positions. The key here is to take any profit once it shows itself. Do not think that it will just keep going up and you'll make more money because it can drop at any moment. One day I really wasn't paying attention and opened up a position at 3:59pm. I honestly had lost track of time and heard the closing bell immediately after the position filled. I had to sit with $8k of next-day-expiring OTM calls on AMZN. I barely slept since this was more than my entire profit for the year at the time. I was super lucky that AMZN opened up a decent amount and I made a few k profit quickly. If I had held all day, like Chad, I'd have more than doubled my position. But again, my strategy is to take profits when I get them, and let losers ride. ROKU and PYPL. Both of these are promising stocks and I tend to also trade them on weakness. However I limit my positions with them and thus have only earned about $110 and $180 respectively. If there is a strong dip on some news, I snag a call and set a limit sell for about $100. For these I tend to buy slightly-OTM calls and I rarely trade because it's difficult to keep up with these stocks all the time. Something about a day job... SPY: I pretty much only buy protective puts with SPY. They're cheap, and they keep my account balanced on bad days. Just today I sold my PUTs for a net loss, but a daily gain which is helping me to generate profit on what has been a red day so far. I do this anytime the market is up a bit and I buy just enough to balance out the delta on my account. As such, I've done nothing but lose money on SPY, but it's also saved me on some pretty red days. I guess overall I'd probably be up another $600 if I never did it, but that's the price I pay for protection. **Trades that went to shit:** SBUX: I hate this stock. After the first dip that was caused by the CEO retiring I picked up a call just to test the over-reaction of the market. I quickly made some money but regretted not buying more calls so I got greedy and picked up some more. The price came back down and I closed out my position for a net wash. Shortly after, SBUX dropped even more with the news of stores closing. Around $55 I picked up a call and, well, it just kept dropping. Overall with SBUX I'm down $400 this year. Again, not much, but I try to compound little gains over time. TWTR: I tried to swing trade the recent news and lost out about $220 because I was weak. It came back up immediately after I sold, but now it's back down so whatever, time to move on. RIG: I bought a handful of $10 puts on this around $12. I had planned on holding them for months, but I seriously got bored of it going from $12-14 over and over so I just closed it all out for a $500 loss and moved on with my life. If I want to hold something for a long time, I open the position in my ROTH IRA. **Boring trades that worked out:** AMAT: After earnings I bought 100 shares and sold a covered call for 52.5. When the call was close to expiring I closed everything for a $441 profit and have since watched AMAT be a total piece of shit. Probably won't touch this stock anymore. QQQ: I continue to sell put spreads on QQQ and I continue to make a tiny amount of money. Probably not even worth it as it barely covers the commission. Seems it might be better to sell put spreads on AMZN.