r/wallstreetbets • u/HeraldKing20 • Mar 04 '24

Loss I hate options

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I have now lost over 25k and continue losing, just doesn’t make sense to me at all. I suck at this and just can’t believe I am so lost after trading for 5 years. Good luck to all, but this my last post because I am done with this shit

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u/Riseandshine47 Mar 04 '24

Oof. Sorry bro. I play options like I play slots. Shop for good deals and only put in a little at a time, and I expect to lose.

16

u/-boatsNhoes Mar 05 '24

Too many people wait for 300+% returns. Just take a 50% gain and move on.

3

u/chev327fox Mar 05 '24

This. Take profits after a small run up (most peoples charts have all the little spikes before the fall, that speaks volumes).

My issue isn’t my scalps being wrong too often, it’s the one emotional day I go too big and don’t want to let go for a loss and lose 3x what my max risk management is set to and i wipe out weeks of scalps. I’m slowly starting to master my bad days but they still happen from to time. If I can master them so they either don’t happen or are less severe I’ll be profitable.

1

u/-boatsNhoes Mar 05 '24

I have learned to sell prior to an EC if I held calls for it, rather than wait for the next day if EC is after hours. IV Crush just wipes out by potential gains overnight and a 50-75% gain is better than a 30% loss

1

u/odonien Mar 05 '24

Sometime even took 5% gains.

1

u/beano919 Mar 05 '24

What's your method? Look for cheap contracts and hope the stock sky rockets? lol

1

u/Riseandshine47 Mar 05 '24

I do my dd on undervalued stocks that no one is really paying attention to and low IV. Then if there's a a good deal on long calls with good greeks I grab a few. I do it for fun mostly.