Broke The #1 Day Trading Rule! [Winner Into Loser]

Broke the #1 Day Trading rule today and let my Puts on $NFLX go from GREEN to RED real quick.... Walking away with a RED Day when I was deep in the GREEN while DayTrading Options but I got GREEDY....

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[nuttnfancy]

Dude I did the same thing on the NQ shorting only 1 contract on a perfect top when it dumped nice.. I watched it teeter around $725-800 profit and I shouldve known when it was pausing at the levels but greed sat it today I must admit thinking it was gonna drop another leg down and it shot right back slowly grinding up for only a $200 still not bad but i see it as a loss of 700 mentally. Always learning to be more disciplined. Thanks for sharing the good and the bad bro!

[mmered]

My biggest issue right now. Too greedy. Next week will be all small wins. IDK?

[mattr]

Ugh.. can relate. Was up 1500 in premarket.. bought the dip but kept dipping, chasing. Down 400 for the day. Got to get the revenge trading under control

[joshuagreen]

What does one type in TOS to get a candle stick chart for options?

[kylesimpson]

But after this video I bet you won't make the same mistake. I've learned to close a higher % of my position at target 1 to ensure profits. In this case I likely would have sold 2 contracts instead of 1 and had a tighter stop for sure. Live and learn. Have a good weekend!

[cspinn]

When ur up remember don’t be greedy a Green Day is a Green Day because there’s still gonna be support bcuz ppl are invested. buy into the bid (or offer a .01 discount on ur contracts, market makers buy them up for the .01 profit everyone wins)or just below the ask if the spread is too far.

[DavosSuperColoring]

It happens Pat.. let go and enforce your rule adding missing piece

[michelecastro]

Traded NFLX today, it went very well. You bought 3 PUT 480 at $290 each when the stock was around $490 then the stock dropped $5 in 5 minutes and reversed. So stock goes down $5 but the PUT goes up only $1.20 ( so Delta = 0.24 at that moment). Your PUT 480 was initially $10 OTM and after the move still $5 OTM. In this particular case is better to buy 1 ATM PUT 490 instead of 3 OTM PUT 480, and look only at the stock chart not the option price chart. I will make a mess too looking at the option price chart. OTM options are a disadvantage when price moves against you. Is not easy to explain on a short comment.

[mroblivion]

Thanks for the video Patrick! Would've been a clean exit if u sold all 3 at 4.10. Sometimes u just gotta take what the market gives ya

[joelfavre]

Made 240$ being short overnight on NFLX with 9 shares, but that stock is a keep getting bought up..

[kenludlow]

Yes the number one rule talking bad about Ross. Lol

[gwentchamp]

BYND lost me money going bullish so then I switched to bearish and lost money again ! LOL, some times you just can't win.

[thisisheaven]

The chart looks like it was Downtrending. I would've been looking to short on the pop into resistance.

[typrasanna]

Being 🐻 an earning needs strict discipline & quick actions..
It's too fast☹️

[rajendrarao]

PPattrick PATRICK patrick WTF kind of Rookie mistake u making???? i was giving you the title of proffesnal trader but now i have rethink that choice...