I have had a decent week this week, last week of October. Tomorrow brings the last day of the month, so hopefully you have some November runners set up. We should have a good month, and I plan on taking profit on a lot of options toward the end of next month. Many companies perform well in the holiday season, however if you check the seasonality on Trend Spider, December isn't all that good. The reason? Buy rumor, sell news.
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A word from yours truly;
If you find yourself struggling overall, make sure you are sizing positions correctly. One position shouldn't be anymore than a few % of your account balance, and if your balance is to small for that, I'd recommend swing trading commons first.
It is all about balancing risk and reward. It is easy to say, but also easy to do. If you want to play catch up and build up your account, but you are doing 100% options and not having patience to do it properly, you will lose out over time.
Not all options will be profitable. Its a numbers game. Options are exponentially harder than commons because of the decay. There isn't anything wrong with trading commons. Swing trading SOXL can be very lucrative; it ran up 20% in the last 2 weeks, and did a 30%+ run a couple times over the past few months.
More so, allocating your funds in your account is very important. Options can make up 10-25% of you account balance, and the rest swing trading commons, and long term B&H. If you want long term success in trading, this is the way.
I'm not really in any major options positions right now except ONE.
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VUZI was the one that triggered half an hour before market close. It ran up today, and I like puts off of the 50MA. I'm not going to go big here.
EBON acted up this week, but with a little bit of discipline he is mostly back in line. My position is down a little, but the puts were cheap anyways. The plan is to DCA into more now that it is back on the 50MA.
BMY is more or less holding the support that we thought it would. The weekly 180/200ma is typically thought to be very strong. Not to mention the weekly RSI is a 31.98 right now. If you are still in this one, watch your decay and diamond hand it as they say.
The last one that I wanted to talk about is FB. They changed their name to Meta today. Maybe this will help them avoid some controversy. Well, I am not a fan of social media in general, however I doubt FB is going anywhere as long as advertisers keep giving them money. The bottom YTD VWAP so this is one to definitely keep your eye on.
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My little ol' buddy, CRO, dropped, along with other tokens, yesterday 10% and is already back up past 20 cents in less than 48 hours! Resilient! It didn't quite hit our alert trigger on the 50MA.
I have had the their Visa card for 56 days, and since then I have made $1490 in CRO back. Not to mention the $40k that I staked in CRO (which I'm earning 12%APY paid weekly) is up 27.5%.
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I'm a super bull on CRO and believe it will take market share from BNB as well as Binance.
I've actually set an alert to short SHIB. I will do that on Webull. Probably by now you have heard that the shit coin is up 700% in a very short period of time. I might be to late to get entry at around 8500 satoshis, however I'll wait for another pump. I think this is worth putting a few hundred or thousand dollars into.
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