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Hello, name's Bruce.


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Hello, name's Bruce.

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brucekeller
Pensacola, FL
 
Posts: 1 since Feb 2015
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I've got a decent feel for the market and stocks when it comes to very short term trading, like within the week. I trade options, usually same week, and I'd say 1 out of 5 picks I do will go 300-500% within the first day or two. Like on Tuesday, I got some GOOGL 547.5 calls for .50 on Tuesday, and sold for I think about 2.00 on Thursday, but they would have gone to about 6 or 7 by Friday. Then I bought TSLA calls for .50 each Thursday, and sold for 1.5 and 2 on Friday.

You'd think I'd make money, but then I bought GOOGL puts after I sold the calls, and AMZN puts. Then I bought more AMZN puts for next week. So now I have TSLA 190, AMZN 362.5, and GOOGL 525 puts for next week, all need about 5% or so in 4 TD, about $250 worth from that $100 on Tuesday; when if I had just held and trusted in GOOGL breaking out of its bullish flag, I could have had $1k - $1.2k in cash instead and still have the options for next week that probably wouldn't work out.

I guess I'm just typing this to make myself realize I overtrade and don't have enough confidence in my picks to hold on to them long enough to maximize my gains; but when I start losing, I just hold on to them, thinking "The stock just needs to move 2% in a day and I'm good." sometimes it works, usually it doesn't.

So hopefully I can build my confidence and get better at risk management through this forum.

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Last Updated on February 14, 2015


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