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    20K loss day trading SPY 0DTE puts and calls

    TL;DR: Lost *ANOTHER* 20K on SPY 0DTE calls and puts, tried to recover losses from yesterday

    I’m gonna quit trading options for a while, probably forever, I was using stop losses this time and it was working much better but one of my trades didn’t trigger the stop loss and after that I was all downhill for the rest of the day, just made it worse and worse trying to climb back. I literally answered a phone call at 10:30am EST and that was the end of my success. I wish I never learned about options, I would have been a millionaire by now but I’ve set so much money on fire with these stupid trades. I’m better off just dollar cost averaging and bag holding shares like all the boomers

    https://www.reddit.com/gallery/1sav4qa

    Posted by thehandsoap

    24 Comments

    4. SenileOldDude on

      Your post sounds very similar to mine with the 200k loss a couple days ago. It’ll be okay man!

    5. Affectionate-Sale523 on

      *probably forever* The fact that this is just a probability for you and not an absolute certainty makes me laugh my fucking ass off at you. There was no need for the TL;DR after seeing 0dte, retard. 

    6. PaperHandsTheDip on

      0DTE options are negative EV gambling. It’s probably better more people know this.

    7. InfiniteNerve1384 on

      This shit ain’t for the faint of heart. Today’s manipulation was top notch.

    9. TheMightySet69 on

      Why didn’t your stop execute? Was it a stop-limit and gapped beyond your limit?

      Also, I feel you. I’m getting really tired of lighting all my money on fire. I didn’t have 20k to lose but I did lose the last $400 to my name today. I’m beginning to realize that I may not have the right temperament for this stuff and I’m attending my first GA meeting tonight. 

    13. CMTTrader on

      Yea, you might wanna stop before you hit $0. Good news is you can’t lose any money tomorrow!

    15. forumofsheep on

      You don’t buy 0DTE options, you sell them and close them early.

      You just get fucked by gamma and the broker simultaneously, especially during high vol.

      Realized volatility often is lower than implied vol. You are literally on the wrong side of the trade / premium.

      A true regard.

      But why do I even waste my time here, maybe I am the regarded one…

    23. Abe2025 on

      Do the opposite of what you want to do or Tell me your moves and ill do the opposite

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