You don't need a large account to start. my experiment.

I started trading options a few years ago but limitations on my very small account made me loose 70% of the time. now without limitations and getting back in the game, I started stumbling until I set up a strategy that works for me and brings me profit. Went from an initial startup of $100 in June up and down many weeks and I'm confident I finally have a working strategy with over $5,000 in realized gains last week alone -up from just $414. what worked for me: 1: news news news and analyze how it will affect the market. 2: previous days highs and lows 3: after hours highs and lows. 4: time entry and exits perfectly 5: don't chase, if I miss it, it's gone I wait for the next one -chasing always gets me stuck in the middle with zero profit and always a loss 6: set a target and exit at it if no confirmation of continued momentum 7: cut losses early and low, it almost never comes back -this was a $4,000 hard learned lesson. 8: no FOMO trades period I need more time testing this strategy, will update next weekend in a new thread. also I'm not trading to get rich fast, just supplementing our income and I feel this goal is what made me more disciplined with protecting my gains. the only thing that hurts is uncle Sam's cut!

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u/Specific_Mountain716 1 2 days ago

Let me know in 5 years if youre the 1% that made it
u/Puzzleheaded-Tap1262 OP 1 2 days ago

small steps and small goals first
u/shaghaiex 1 2 days ago

Tom Sosnoff: "Trade small, trade often"
u/TaxRealistic4238 1 2 days ago

the tax man cometh for us all, but 5k in a week off a hundred bucks is wild, definitely got my attention. keep us posted on how it holds up over a few months, curious if the discipline sticks when the market gets weird on you
u/HungryBowls 1 2 days ago

how do you access trades that are over your buying power? even with leverage if you dont have cash they dont let you bet over a certain amount
u/Puzzleheaded-Tap1262 OP 1 2 days ago

I only aim for contracts I can afford so I started with 1 $0.80ish contract and built up gains from there.
u/HungryBowls 1 2 days ago

what tickers? expiration length? calls or puts?
u/Puzzleheaded-Tap1262 OP 1 2 days ago

I decide on those based on market behavior
u/HungryBowls 1 2 days ago

could you elaborate on an example trade in the past week or 2?
u/Puzzleheaded-Tap1262 OP 1 2 days ago

mainly spy calls and puts. disclaimer not a financial advice, or whatever.
u/housemoneyrocketship 1 2 days ago

What do I do with previous days highs and lows?
u/Puzzleheaded-Tap1262 OP 1 2 days ago

ceiling and floor
u/DLLM-style 1 2 days ago

What TF you’re executing on?
u/Puzzleheaded-Tap1262 OP 1 2 days ago

if you mean platform/app, Robinhood
u/003E003 1 2 days ago

So you had one good week and you have figured it out enough to give us lessons? Ok
u/Puzzleheaded-Tap1262 OP 1 2 days ago

Don't be salty, point out where anything in my steps is an invalid advice. Also I did say it's an experiment, plus I said I will update next weekend.
u/003E003 1 2 days ago

Lol you think I bothered to read your tips? I could not care less what you think you have figured out. You are a noob.
u/esInvests 1 2 days ago

this is a really terrible idea. in no way trying to put you down - i want you to make money. but the overwhelming probability is you're going to give back and then some. the returns required to grow at the rate you're purporting stem from significant risk, whether you see it or not. you are not able to predict how news will impact the market better than the market. you aren't timing entries or exits perfectly, etc. in short, if your "edge" demands perfection across the board, it's not much of an edge. you are more likely confusing a favorable path with edge. be careful homie.
u/Puzzleheaded-Tap1262 OP 1 2 days ago

I think continued "+" throughout all week proves I'm timing my entries and exits correctly, also I'm not re-using all my gains, I take home profits and leave a percentage for trading each day
u/esInvests 1 2 days ago

its a marathon, not a sprint. you could flip a coin to pick your stocks and perform well over a week. don't be naive.
u/MandingoPants 1 2 days ago

After hours volume? It's as good as reading leaves, unless I guess it's some large dark pool order. Understanding macro and sticking to a sector with high volatility (and learning what part of the cycle it is in) are the main keys. I'm up 1,167% since Feb 😂
u/Puzzleheaded-Tap1262 OP 1 2 days ago

time will tell
u/MandingoPants 1 2 days ago

at least it seems you're trying to stick to some rules, so that's how you win in the long run. Just know that VOO and chill is a thing for a reason ie don't get greedy (if you beat SP500 10 year average, call that a win and move on).
u/DrEtatstician 1 2 days ago

Can you elaborate , what are the theta , delta values you use , volume considerations and any other Greeks you consider , how about implied volatility considerations etc
u/Infinite_Ad7107 1 2 days ago

What's the experiment?