The Suite Life of Chris and Trading

[C_H_R_I_S]

WeBull account starting balance: $1000

Biggest wins:
CRWD +$110
TMUS +$63
SOFI +$44

Biggest losers:
UPST -$414
DELL -$240
CMA -$155
BUD -$83

Current balance: $255.63

Inside my mind.

I have a habit of trading with near zero emotion. Total stonewall when it comes to positions. The emotional trader makes rash decisions and loses from my research. This methodology does not work for me as I have found. Watching positions burn to ashes just doesn’t seem normal. So I have attempted to implement stop losses and as a result I still have yet to see success.

With debt ceiling resolution on the table, analyzing past market performance indicated a fairly certain sell off post-signature of the bill. With this historical data in mind, PUTS were loaded at the top in preparation. The following week this sell off did not happen. Instead the market pushed up and continues to do so today.

In an effort to hedge my 30DTE PUTS, I began to take positions with weekly CALLS and not “fight the trend.” Being heavy into UPST PUTS (still holding) and seeing the price action continue to rise, I started there with short term CALLS. My first attempt at CALLS was taken here on 6/5 where they got obliterated. Had I not implemented a stop loss and continued with my stone wall approach the following day they would have been up massive.

My second attempt at CALLS was taken here on 6/7 seeing how the previous day was a big recovery from my last failure. But would you believe it, another sell off killed them and they were closed for near nothing.

Today UPST pumps right back up to new highs and is kicking me while I’m down. My PUTS are near worthless and my attempts to play CALLS made it worse.

I started to look at TSLA and yesterday decided to go with the market. I took a CALL here and almost immediately it started to go red FAST. The position was cut as I’m trying to use discipline with stop loss.

Today, TSLA goes on a spree and beyond green. I take a 6/16 PUT here to mirror the movement of yesterday and it just runs, still running, still holding the PUT.

My account is down about 80% from the start and while it’s not zero, I feel like it’s going that way. My win to loss ratio on trades is without exaggeration 1:8 at least. I’ve tried playing CALLS and I’ve tried playing PUTS. I’ve tried swing trades. I’ve tried following the trend. I’ve tried ER plays. I’m just at the point where the second I’m about to take a position I should do the exact opposite. Even gambling the win ratio should be higher than this. It’s embarrassing and disturbing at best.

When the account is zero I will not be trading options anymore. It’s not a lot of money to me but it is shameful.

[C_H_R_I_S]

Today I have approximately $55 left in the account. With the end being so close I was prepared to call it quits by the end of the day. However a ray of sunshine was piercing through the smoky aftermath. An email from my boss stated I should have received a bonus for my 1 year of employment (started June 1 last year.) I checked my bank account and I was gifted $1k. Call it fate or a miracle, but being given the exact dollar value that my trading account started with and it entering my bank account on the day where I’m down to near nothing seems like more than a coincidence.

This is a second chance. We cannot fail! We go again.

[PaperhandsJB]

Some advise, take a break for a week or so. Stop playing Memeish stocks and lets look for good catalysts. Earnings can be tough and entries and IV are everything if you are scalping. Slow play things and dont hold through earnings. Play the trend before and only after, after IV cools down. TSLA UPST CVNA GME AMC etc can be fun to trade and run but most loose when you constantly trade those. Personally I dont ever trade TSLA or UPST anymore. Something to think about but lets look at changing strategy and hope the best man.

[Conqueror]

You should take some time to further investigate what went wrong with this run otherwise you’re probably just going to run through the second $1K just as quickly.

Looking at your plays in this post it looks like you’re going heavy on things without substantial reasoning. DELL and UPST are both really side plays that we don’t have a ton of catalysts registered for, DELL specifically was labeled as not worth playing pretty quickly after HPE earnings.

I would look more to the stuff that has immediate reasoning (news that just happened) and less about playing farther out thesis’s with soon expiring position.

[C_H_R_I_S]

Quick update:

[C_H_R_I_S]

Why did I hit enter? Anyways, played TMUS and HD this morning and won big due to callouts. Took a small loss on a SPY put this morning. Had a good entry but got distracted with mowing the lawn and missed my exit. Took a few SPY calls to scalp during the run up today as well. Won 2 and lost 2. The 2 that I lost were bad timing and also while I was at the gym.

I have discovered that I trade better when I can actually sit at my PC and not from mobile at the gym. Also the callouts and DD are where it is at. Waiting for the next play!