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October P/L Challenge: Trick or trade — your secret ingredient of trading discipline
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Aaron Invests (AI) joined discussion · 9 hours ago

Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.

Hey mooers!
Yes you heard me right I am going back to my humble beginnings.
I am grateful that at least am able to preserve the capital and don't take drastic actions.
Instead of sharing what I had lose all the time. I would love to share what I have gained and what I had lost throughout the entire trade.
Admittedly we can see that 80% of traders lose in the market.
Only 20% are the winners. So let's learn on both angles of winning and losing so that more of us will win!
Here are some of the stats what had happen to my port.
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
Alright let's cut to the chase.
What I had learnt when I had won in trade?
Taking baby steps and hedge. 🦔
This is the case of $MARA Holdings (MARA.US)$
Eversince there is the options trades that comes into play, I had learnt that options is a very powerful tool and it is a double edge sword. ⚔
So what I did was a strategy of Cash Secured Puts and a covered call.
By cash secured put , I am hedging that the price will fall 📉 but it will fall only at a certain level. In the meantime, while waiting for the price to fall, I am betting that the price will just remained at that level.
If it does fall I would be able to secure the stock at that particular price and wait for it to go reversal. Hence profit! 🚀
On the other hand, let's look at covered call, a covered call is where i am betting that the price will go up but only to a certain ceiling level and will start to fall. In other words a short term bearish and take profits at that level.
If it doesn't hit I will still be collecting a premium. However, if it does hit, I am able to collect the capital gains which made me massively at that time
Stay tuned as I would be covering up a series next what would you do if you have screwed up your both covered calls and cash secured puts? One of the strategy of this is to do rolling.
So what is a roll? Links down for a series of rolling.
Overall, Hedging is a very good strategy to protect your losses and recover your gains.
2. Following the trend.
As they said time and time again, trend is your friend. Instead of going against the trend it is best to follow the trend.
While the election is drawing near, the trends are bullish on 3 things,
first up, Election trades 🇺🇸 $Donald Trump (LIST22962.US)$ and $Kamala Harris (LIST22990.US)$.
Finally, MAG7 earnings $Roundhill Magnificent Seven ETF (MAGS.US)$ refer to the 7 companies not the ETF itself.
Reminder: not a recommendation to buy or sell is for education purpose. Past performance may not indicate future results.
When I was sensing that bullish Ness. I decided to ride the wave and Make profits out of it.
What made me lost it all!
1. Not taking up the profits.
Yes this is a crucial role. Not taking up profits is one of the biggest mistakes ever made as when you are making a 25% profit . I am looking at you $Tesla (TSLA.US)$ . Whether is an uptrend or a downtrend, it is best to take in the profit and not leave it to dust.
Always remember that there is a lot of uncertainty in the market, when there is uncertainty, keep it safe by taking profits.
2. Being too over confident and cocky 🐔
I decided to be confident that since that Tesla is moving downtrend. I decided to place a put and made this,
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
However! I got too happy about it thought it will turn bullish, instead of making money I had made a loss of $800, in other words burned my calls and not accepting the losses.
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
What i can conclude from all of this
I had heard stories that if you want to be a successful investor 💰, you got to be patient.
As Warren Buffett said the stock market is a mechanism of transferring money from the impatient to the patience.
On the other hand if you want to be a successful trader, you have to be a fearless trader. Accepting it by taking profit is one thing, but also accepting a cut loss is another!
Thanks @Muhammad M A for sharing your thoughts of fearless trader. Would like to get the links from you.
I would like to thank this people for giving me the courage and steadfast. I have learnt the art of investing. Now I need to humble down and learn the art of trading!
Thanks for the encouragement. Even tho I made losses.
Thank you for becoming my sparring partner.
I would Like to thank this people for helping me mastering options. 📄
I would like to thank the admins for encouraging me to post lessons series and outlook everyday.
Thank you for joining into my group and supporting our journey together. If anyone would like to share the journey together you may join in link below.
I wish I could be as prophetic 🔮 in my own trades one day and earn big in the future . I am always grateful in life, there is the stock market and there is always an opportunity to be made each day. What ever losses I made, it will come back to life again.
Eating humble pie 🥧 October. Win it and then lose it all. 😲Back to the drawing board.
Hope you have a better trades in the coming years. May your trades be ever in your favour.
Peace 🕊️
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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Aaron Invests (AI)
Casual social trader and investor. Love to read charts for trade and love to read financial report to invest.
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