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If Long stock: Long XYZ $102.40 If Short stock : Short XYZ $102.40 If Calls: Long XYZ 100 Strike, $3.50, 3/18 Expiration (no need to say “Calls” or “Long” again) If Puts: Short XYZ Long 100 Strike Puts, $2.59, 3/18 Expiration If CDS: CDS XYZ 95/100 for $1.89 (no need for Expiration Date unless it is not same week) If PDS: PDS XYZ 100/95 for $1.56 (no need for Expiration Date unless it is not same week) If exiting trade: Took profit / loss / scratch XYZ If placing limit order: Offering or Bidding XYZ at $102.40 Format for posting commentary:

Watching XYZ, [notable technical event or movement] (if you are watching a stock, consider elaborating why you are watching the stock) XYZ! to highlight a stock that is showing a significant move up or down News that is affecting XYZ News that is affecting the market Lingo/Jargon:

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submitted by /u/AutoModerator

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Hello everyone! As this month is coming to a close I wanted to share my progress from knowing nothing about trading 3 months ago, to where I am now (and also to procrastinate my research report). This is my first time creating a reddit post to begin with, so bear with me if it seems kinda all over the place. I’ll try and make it as structured as possible.

Some Background I am a 19 year old college student. When I first came into college I was an aspiring dental student. Over the summer of 2023 though, after I got a great job working as a dental hygienist for my resume, I realized it wasn’t for me. It was something about into looking into old people’s mouths, and not getting a cent until I graduated dental school that did it for me- I quit that same day. So, I needed a new life purpose. I quickly switched my major to computer science and started researching ways I can make a living after college. Then July comes for month 1.

Month 1 I stumbled across daytrading as an easy, get rich quick type of thing. I researched on youtube and quickly found that everything was sort of scammy. I did learn a bit about support and resistance from an old video from the trading channel though. About a week into my research, I came into this reddit. I mostly lurked around, and read almost every inch of the Wiki. I stayed away from the options section because it kinda scared me, and mostly focused on learning how to read the market and how to identify stocks with relative strength/weakness. Kudos to hari, oneoption, and everyone else who added to these resources. I honestly was stunned that it was free.

Month 2 This month I dedicated to actually trading pratically, no more theory. I used stonk journal to document every single trade. Here were my stats (holds aren’t accurate, and subtract 4,000 from PnL):

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Subtract 4,000 from PnL

I did write an entire trading plan (let me know if you’d like to see it) that detailed exactly what I should do. Of course, I didn’t follow it for a while.

The first week was an absolute disaster. I had no idea what I was doing, and was extremely emotional in my trades. I did not trust the system at all. The second a move went against me, my heart would start racing and I would pull out of the trade. Sometimes this would get wins, but they would be very, very small. But, I started looking back at my trades and realized that holding my trades would be better for me in the long run. I took that to the extreme and started holding my losers way, way too long. But, I learned a lot. By the end of the month I was super comfortable trading stocks on thinkorswim (albeit not very well) and I felt with more time I’d become dangerously good. Motivation was super high.

Month 3 I didn’t trade at all, university started back up, and I felt super demotivated when I couldn’t sit from 9-5 learning how to trade better. I felt super anxious when I took trades while traversing through classes, and just said screw it. Instead I spent the time heavily studying both hari’s and oneoptions youtube videos. I’ve watched the entire realdaytrading channel twice, documenting literally everything. I went through their twitter, found their live podcasts, and started learning from that too. I conquered my fear of options and learned about calls, puts, and credit/debit spreads. One of the main takeaways is that the wiki did tell me everything I needed to know, BUT it was confusing for me at some parts. Once I went out and researched things on my own, things in the wiki were a lot more clear and easy to understand

Month 4 This month, I forced myself to only trade calls, puts, spreads, and /es contracts whenever I’m super confident. Here were my stats:

Hold time is not accurate

I wrote up an all new plan that I did indeed follow for about a week, then I just started trading off of feeling. I was trading for about an hour max per day, usually in my first class at 9:30. The times I felt most emotional was when I traded /ES contracts, and I had huge losses because of it. I felt super calm and comfortable trading options. I was daytrading mostly though, I didn’t hold positions for very long. I’ve only held one for a few days and that was because I forgot to close it. Luckily it was in profit though. Sadly I won’t be trading the rest of the month because I’m getting slammed by exams.

Conclusions Overall, I’m pretty excited to start the next month. As of now, trading feels pretty lax and comfortable. I’ve become pretty comfortable with taking losses, and I’m trusting my own instincts and research a lot as well. I want to look into more options strategies, as well as futures trading. I do want to get back to trading stock and making nice profit on it as well.

One of the most IMPORTANT things I learned was to do things. All the research in the world won’t get you better at trading. At the end of the day, theory is just theory. I had to do things practically to get better. And it did suck. I felt honestly stupid when I was struggling in the beginning to literally just buy and sell a stock, when I’ve research for hours beforehand on how to do just that.

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Questions I do have some questions that I couldn’t really find answers to:

How to properly manage and grow a portfolio. Throughout my entire trading process, I kept asking myself- how much do I put into this trade? It irks me that I can’t really manage my portfolio well. I have a ton of buying power on my paper trading account, but I don’t know how to really use it. Options seem a lot better then stock. I found that for me to actually make a good amount of money from stocks, I would have to get around 1,000 shares. That’s really expensive for some stocks. With options I can spend a lot less and get way more profit. I know that stocks are better because you can hold them longer. But if your picks are right, why would you invest in buying the stock when you can buy the option and get a lot more out of it? I do know that this subreddit doesn’t talk about futures very much. I find that they are pretty fun and lucrative though, so I want to trade them. The only one I’ve been trading is /ES. Is there any resources that can make me better at trading it anyone knows of? I watched oneoptions youtube video today and noticed him talking about how the market rallies at this time of year. I know around august-september the market kinda sucks. Is there any other time periods that are important? ​

Thank you for sticking around and reading this, and hopefully answering my questions. I plan on going on to trading 1 share pretty soon, in december when university slows down and I am able to sit at my computer from 9-5 and trade. Hope this helps anyone who either needs that extra push to start trading and stop lurking, or who is still researching.

submitted by /u/FourthLeafClover

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