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New comment 15d ago
New Year, New Goals? Here's Why Your Options Trading System Matters More Than Your Profit Target
It's almost January ā€“ the season of fresh starts and ambitious resolutions. For us options traders, that often means setting a goal like "I'm going to hit a 30% return this year". But what if focusing on that goal is actually holding you back? Take Bill Walsh, legendary coach of the 49ers. He led his team to three Super Bowls with the mantra: "The score takes care of itself". Walsh didn't obsess over the scoreboard or championships. Instead, he focused on building systems ā€“ recruiting, training, and executing with precision. By sticking to those daily habits, the wins naturally followed. The same principle applies to trading. Control what you can control. Instead of fixating on profit targets, shift your focus to what you can control: your system. - Your goal might be a 30% portfolio return. - Your system is how you research trades, manage risk, allocate capital, and review results. Imagine a basketball team ignoring the scoreboard all season, choosing instead to focus on practice, drills, and execution. They'd probably still win plenty of games ā€“ and so will you if you master your process. As we approach 2025, ask yourself: - What habits will help me trade smarter? - How will I manage my trades and review outcomes? - Is my system sustainable, even when markets get tough? The irony? When you focus on your system, the profits often follow. What does your trading system look like for 2025? Let's discuss below!
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New Year, New Goals? Here's Why Your Options Trading System Matters More Than Your Profit Target
šŸ”„12/20/2024 Trade Ideas šŸ”„
Hello everyone, Today's trade idea plus 1 more in the classroom area where we collect $230 income for next week's expiration with 20% downside cushion šŸ”„ JNJ - $143.92 price - selling $135 puts - $150 income (2 contracts) - $8,100 BP - Jan 17th I always wanted to hold JNJ as forever stock and 136 is the Keltner Channels on the low side so I'll be happy to own if it gets there or collect income if it doesn't.
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New comment 6h ago
šŸ”„12/20/2024 Trade Ideas šŸ”„
Update - $130 Winner in 2 hours šŸ”„
This was posted in the Classroom area this morning. I just closed it now, made over 100 bucks, and called it a day. Feel free to join before prices go up - https://www.skool.com/retire-on-margin-9223/classroom MSTX - 68.70 price - selling $55 put - $227 income - $5,270 BP - Dec 27th The income on those leverage ETF's last 2 trading days is so high and I'd love to own MSTX at half price from 3 days ago. If not I'll add another 230 bucks in a week. Still needs to fall 20% from here.
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Update - $130 Winner in 2 hours šŸ”„
šŸ”„12/19/2024 Trade Ideas šŸ”„
Good morning everyone, 8 ATR keeps us in this game long-term. Quick one: I will sell $560 puts on SPY for tomorrow (Dec 20th) at whatever price. Yesterday, it was $150. In the classroom area, I did another one with 3X the income. But in general, you can grab any of the indexes at the opening bell - SPY, QQQ, IWM it doesn't matter the income is super high and the 560 SPY is about 7 ATR. Also, this is a rare case where the /ES futures have maybe 1.5X more income than SPY compared to 5X on average. Tells me prices are very expensive due to Vix jumping and I'll take advantage of that by selling puts on SPY. Buying Power needed is only 8k compared to 55k on Robinhood. Let that sink in It won't last long as futures are already green and up 0.7%. I mentioned yesterday this was nothing just to flush retail before monthly expiration and up we go for the next month imho.
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New comment 3d ago
šŸ”„12/19/2024 Trade Ideas šŸ”„
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