Small tip, you need to add P/L zones, have a clear or close to clear vision of your profit and potential losses. For options depending on the entry and account size use a wider stop, to give room to breath. Once you move your stop up, to clear any losses, you can just keep moving it up, so you don’t lose all profits, just in case, and with options it’s always just in case 😂😂😂 good stuff kid keep working on your strategy your doing better then most 👍 I finished watching I see you use a mental stop, awesome, it’s a start.
I’m agree, I had to use all my money on the first 3 options and was fortunate for them to all be successful but now that I have a little extra I can use smaller percentages of my account and have stop losses that keep me from blowing up my portfolio too fast.
@JackFlavioMurphy You should do well from there. Maybe do a version where you look for puts too so you can protect yourself from random down weeks. Over all good strategy. If you risk 20 to win 40 or more you should be able to get to 1k quick!
For now I’m just going to play around with the short term options and when I build up more capital I will definitely try leaps. Just takes a lot of money and I’m to spread out right now. Hopefully I can do it in somewhat soon tho!
Jack, when you go to Snapchat on the rh page. You click trade then select buy & call ? Is that correct? When you buy a call do you have to have the money in the account to cover it?
Yes buying a call is just paying the premium. I think selling calls and puts us when you risk 100 shares if the contract gets executed. Is that what you mean?
@@JackMurphyInvesting yes I have been selling cash secured puts or covered calls. U either get the cash taking away in exchange for 100 shares, or get your share taken away for cash. Isn't buying options (like you are doing more risky) ?
Yeah it is but It has higher potential for profit. But what your doing is way safer and almost just free money. If you have 100 shares that are worth more than what you paid even if you have to sell them you still make profit and can just buy them back I think so when I have 100 shares of any stock I will definitely try that! But until then this is pretty much the only kind of option trading I can do with a small account.
I’m going to be honest I don’t really know. This was my first week actually trading options besides like 3 trades a few months ago so I only know so much. I don’t want to give my opinion on something I don’t really know and be wrong. Sorry
Hi! Is there a limit to how many contracts I buy and can sell per day? I got a quick alert from robinhood of a possibility of getting flagged. What’s your input?
Yeah If you have a margin account which is the default and less than $25k in you account you can only do 3 day trades every 5 business days and if you do more your account get shot down or something
I just used the screener on Robinhood and looked for stocks with high implied volatility for a short term trades. It’s glorified gambling but it’s the best I could come up with for a $100 account. I should check out discord groups or something to find better stocks. But the Mattel contract was because of the Barbie movie and I thought that would make the stock go up.
Small tip, you need to add P/L zones, have a clear or close to clear vision of your profit and potential losses. For options depending on the entry and account size use a wider stop, to give room to breath. Once you move your stop up, to clear any losses, you can just keep moving it up, so you don’t lose all profits, just in case, and with options it’s always just in case 😂😂😂 good stuff kid keep working on your strategy your doing better then most 👍 I finished watching I see you use a mental stop, awesome, it’s a start.
Thanks!!!
That proves that good position sizing means a lot. Even with a lot of losses you were still up a good amount
I’m agree, I had to use all my money on the first 3 options and was fortunate for them to all be successful but now that I have a little extra I can use smaller percentages of my account and have stop losses that keep me from blowing up my portfolio too fast.
@JackFlavioMurphy You should do well from there. Maybe do a version where you look for puts too so you can protect yourself from random down weeks.
Over all good strategy. If you risk 20 to win 40 or more you should be able to get to 1k quick!
I like this Video. Great job!
Thank you 🔥
Cool stuff man!
Thanks
Excellent,
I appreciate this video gives a realistic perspective for us small fish trying to eat our way up. More success bro 💯
Thanks man
Do you plan to stick to short options or are you going to begin to look at leaps as well?
For now I’m just going to play around with the short term options and when I build up more capital I will definitely try leaps. Just takes a lot of money and I’m to spread out right now. Hopefully I can do it in somewhat soon tho!
Jack, when you go to Snapchat on the rh page. You click trade then select buy & call ? Is that correct? When you buy a call do you have to have the money in the account to cover it?
Yes buying a call is just paying the premium. I think selling calls and puts us when you risk 100 shares if the contract gets executed. Is that what you mean?
@@JackMurphyInvesting yes I have been selling cash secured puts or covered calls. U either get the cash taking away in exchange for 100 shares, or get your share taken away for cash. Isn't buying options (like you are doing more risky) ?
Yeah it is but It has higher potential for profit. But what your doing is way safer and almost just free money. If you have 100 shares that are worth more than what you paid even if you have to sell them you still make profit and can just buy them back I think so when I have 100 shares of any stock I will definitely try that! But until then this is pretty much the only kind of option trading I can do with a small account.
@@JackMurphyInvesting what is your thoughts on selling cash secured puts on AMC weekly. It's high vol stock with a good premium. $38 for every 360.
I’m going to be honest I don’t really know. This was my first week actually trading options besides like 3 trades a few months ago so I only know so much. I don’t want to give my opinion on something I don’t really know and be wrong. Sorry
I lost 500k trading options
Today following your advice
😭
Hi! Is there a limit to how many contracts I buy and can sell per day? I got a quick alert from robinhood of a possibility of getting flagged. What’s your input?
Yeah If you have a margin account which is the default and less than $25k in you account you can only do 3 day trades every 5 business days and if you do more your account get shot down or something
But if you switch it to a cash account you can make more day trades
how far away from expiration do you usually buy?
For these videos I was doing 1 or 2 weeks it in the future I’m should probably do longer ones
how do you collect info on which ones are running? discord or reading up on news?
I just used the screener on Robinhood and looked for stocks with high implied volatility for a short term trades. It’s glorified gambling but it’s the best I could come up with for a $100 account. I should check out discord groups or something to find better stocks. But the Mattel contract was because of the Barbie movie and I thought that would make the stock go up.
@@JackMurphyInvesting that’s awesome though! I mean 100+%??? Cmon that’s insane still! Hell of a job!
Thanks 🙏 hopefully I don’t blow it
Are you using a cash account?
I not the first week but I tried it at the end
🤧👀
🤔
i’m currently starting this challenge as well do you have any other platform i can message you on?
Nah