awesomedan24

awesomedan24 OP t1_iy9ow0i wrote

Reply to comment by rOnce_Gaming in Slowly but surely un-fucking myself by awesomedan24

Good strategy. Paul Tudor Jones said in his Market Wizards interview that he will stop trading for the month if he ever reaches -10% across his account.

5% per month is amazing if you can sustain it. In just a few years youd be making more than most people make in many more years of sitting in SPY

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awesomedan24 OP t1_iy8cmbd wrote

Reply to comment by NotDonaldTrumppp in Slowly but surely un-fucking myself by awesomedan24

A few days at a time at maxiumum. Too easy to get killed otherwise. These are not designed to be held long term.

The drop you see in my account in June from the 145K high is when I held a leveraged VIX etf for several months, between the drop in volatility and the inherent decay of the leveraged etf, it decimated my account

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awesomedan24 OP t1_iy8brq8 wrote

Reply to comment by sam_mufasa_ in Slowly but surely un-fucking myself by awesomedan24

Thanks, haven't actually been using options, mainly quick all-in scalps and swings of 3X leveraged ETFs (nearly as bad as 0DTE options really)

I find this method to be more straightforward as I dont need to worry about IV, theta etc, plus I dont run any risk of worthless expiration.

These 3X etfs can be brutal though, and they are constantly reverse-splitting causing them to decay rapidly. Gotta get in and out quickly.

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awesomedan24 OP t1_iy8altz wrote

Reply to Slowly but surely un-fucking myself by awesomedan24

Positions: Mainly quick scalps and swings of leveraged inverse (short) QQQ and VIX etfs (I think the tickers are not allowed here)

I've always struggled with risk management. I was up around 70% ytd in June then wiped it all out by holding onto my short positions into the summer rally.

Trying to be a bit better at managing risk this time with stop losses and taking profits quickly.

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