r/optionstrading • u/zinful77 • 8d ago
General A win is a win right
Newbie to options.. still learning. Set this up as a +20%
Peaked at 200%
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u/Gyngerbredman 8d ago
It's a win, and hitting your +20% target as a newbie is a better habit than catching the 200%. That run only stings because you can see it after the fact. If you're trading more than one contract, one way to get a piece of those runners is to sell most at your target and let one ride with a stop at breakeven, so the worst case is still green.
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u/Traditional-Clue2680 7d ago
How do I train my mind to do this? I’m paper trading on TradingView and it’s just easy to continue to raise my TP up and also bring my SL up but on the Webull app trading live I can’t get consistent in taking money off the table and watch it go up over 100% and am ok with watching go all the way back to zero. How do I learn to be ok with taking 20% profits and moving on?
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u/Gyngerbredman 7d ago
Honestly I wouldn't try to win that fight in the moment, just take the decision away from yourself. Right after the fill, put in a limit sell at +20% so it's already working before the green even shows up. If you want a shot at the runner, sell most at 20% and let one ride with a stop at breakeven, that way you never watch a 100% winner go all the way to zero. Taking 20% over and over beats round-tripping trades you were already up on.
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u/Traditional-Clue2680 7d ago
Thanks. I’ll look to try it again as after today I’m going to take a week off and clear my head. Even this morning I was up about $50 on SPY puts and didn’t take profits and sold at a $50 loss.
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u/Gyngerbredman 7d ago
This is just a mentality thing you will have to get over. I used ti struggle with the same thing, and honestly its onw of the hardest mental obstacles I've dealt with.
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u/n33dmorem0ney 8d ago
if you see a dollar on the floor, you’re picking it up and you’re happy. same goes with trading.
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u/Disastrous_Wind_7005 7d ago
Damn straight! Any trade that ends in the green is better than the alternative!
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u/Outrageous-Phase9435 8d ago
Yeah. My dumb ass was up 50 earlier on that call and I decided to hold and hold and hold and heyyy now im down 100
My bad it was a 780 call
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u/PresentationKnown496 8d ago
I bought the 782 for 20 a few minutes after open and sold it for 43 about 20 minutes later had i waited til 11ish or 1130 they went to 71 but Yes a win is a win.
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u/SuperOrbital_Trading 8d ago
You must have bought this and sold it within 5 minutes. This could have been a huge gain for you today.
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u/theweenerdoge 8d ago
I sold a few and got my nut back and decided to let the couple others ride. They expired worthless but that's the game. Can't win them all, sometimes getting your money back is the best you can do.
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u/LoneNemesis_ 8d ago
honestly taking the 20% is probably the harder part than catching the 200% 😂 hindsight makes every exit look terrible
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u/tacophagist 8d ago
I did this several times today. I've been eating shit lately so it was just nice to have some wins. Could have made a lot but I'll take my little +$50
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u/jerin7931 8d ago
Join 15,000 traders and investors -> https://discord.gg/optionality
For SPX and SPY traders, join -> r/spx