What I Learned From 1 Year of Trading Stock Options
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- Опубликовано: 13 июл 2024
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In this video, I cover the 9 biggest takeaways I've learned from my first year trading. I hope these insights help you become more profitable with your trading, as I know they have helped me.
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#stockoptions
0:00 Intro
0:31 Takeaway #1
2:51 Takeaway #2
4:11 Takeaway #3
5:36 Takeaway #4
6:22 Takeaway #5
7:14 Takeaway #6
8:27 Takeaway #7
9:24 Takeaway #8
9:59 Takeaway #9
10:47 Final Thoughts
scroll up and smack that thumbs up button so i stop making these mistakes!
Dan, what's it like to file your taxes after trading for a year? Are any taxes taken out during the process/cashout? Do you owe for gains? Do you file as self employed? How do things differ between RUclips/affiliate earnings? Very curious
I followed all these tips now I am a millionaire. My long lost love found me and we married. My children want to spend time with me and vacation. Friends who I haven't heard from in decades are reaching out and I feel loved.
To add:
1. Don't be greedy.
2. Pay attention to Volume and Open Interest
How do you know the amount of volume is good or increasing and open interest?
As a trader for 15 years and a tiny creator. I can say this content is awesome. He's new and there will be more to learn but If you are a new trader WATCH THIS STUFF. It's more real than most you will see online. Risk management is everything. Respect.
Number 1 lesson… Stocks ONLY GO UP, Diamond Hands Daniel lol
😂😂😂
💎💪
Never paper hands bro
@@liamnikau3166 lol... uhhh maybe neither?
Nah bro 😂😂
Daniel: "Don't put your rent money in the stock market"
My trading account: "Give me rent!"
I feel this too much 😂😂
This is some of the best commentary from your channel so far! Your bit on cost averaging was especially great. Thanks so much!
Really excellent video. Trading for 12 years, this is a great summary of the basics. Great work man! 👍
Really appreciate the amazing content you put out, man. Much love!
Great tips bro you're always pulling through with amazing value + crazy production value. Super inspiring :')
Very informative, thank you! Some of your points I had thought of by myself, e.g. "not too many positions" or review after the week or month -still have to do it for this week-, others I did not think of. So thanks a lot.
These lessons are actually helpful, thank you Daniel!
A lot of great takeaways from this, thank you !
Super helpful video. I appreciate the healthy doses of reality you use to talk about trading. Everything else on RUclips is so focuses on sensationalizing it.
Appreciate all your videos, your my personal 🐐!!!
When you mentioned keeping your account value above a certain and cutting trades to stop the bleeding on a bad day, i felt you read my mind haha. I started on options about 2 months ago. Thank you for authentic sharing
I'm in the same boat, roughly 1 year of trading under my belt, and these lessons are really good recaps! I'm still working on not overtrading and knowing when to take profits, and thoroughly enjoying all the content you've been making :)
Great content - exactly what im looking for as a new trader. New sub. Keep it up!
I agree, discipline is really tough to have, so it’s important to stick to your plan. Nice video!
I recently started learning about investing/trading and your videos have been super helpful and entertaining, thank you!
Love your content and appreciate all of it! Can you make a video that explains how taxes work with day trading?
Honestly so glad I found your channel, super high quality and honest content. A video about how you deal with tax from investments and dividends etc. would be really interesting
These tips were super helpful. I have recently gotten into options and have lost a good bit but have slowly learned. Hopefully I can get better as time goes on and my account balance can go green again
Great info! Thanks, Daniel!
I have learned what mistakes to avoid now. Thanks, Keep it up 👍👍👍
I love your videos, they're very helpful!
These are great tips and advice for me as new futures and options. Thanks for the advice.
Heard "just because I had a profitable year" and celebrated for you my bro. Congratulations man
Great one! Sum up what I learn playing a paper account for a year. I always tape them in front of my computer screen and look at them before trade
Good tips Daniel. Here's mine: During euphoric markets, like 1990s and now, my =investment= strategy is to buy IPOs during their quiet period before institutions pick them up. Good sector, good company management, good underwriters and then read the SEC filings.
People should also keep an eye on fees on whatever platform they trade, especially when youre a beginner and dont realise that or the platform is bad at showing it.
I think the assumption is if you’re going to be making risky bets on stocks, you better be smart enough to know whether you’re paying fucking fees bro
Love your videos man. You should definitely make one narrating your experience on the taxing expenses overall from how you did in 2020! I’d love to have some insight in that field.
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Thanks for the video Daniel
Good stuff Daniel!
I definitely need to work on a few of these myself as a new trader. Especially the shotgun approach mentality, if I had just stuck to my guns and invested my resources into my strongest convictions I would have been sooo profitable by now. Hindsight is always 20 20. But it's taught me to trust my DD a bit more and to not let fomo get me for some other stocks.
Nothing but quality content, bless brodie, hoping to buy my first contract sometime this week
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Awesome video Daniel! Thanks for being so transparent - I look forward to following your options journey💎👐🏼🚀
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This is such a good video thank you my guy
Dude you rock! Well done!
Spanked that like button, thanks Daniel
great content
Thanks man, this helped!
Your best thank you
This Video Was so usefull.. 1 weeks to late, -12000usd ( 60% ) to late, I started trading this monday ) But I could relate to most mistakes you mentionned, and the list or helping point I just wrote watching your video will hopefully bring me back in the right direction
Hey Daniel, thank you very much for your content! Would you be interested in making a video about the strategies you use?
Discipline + FOMO is for sure the worst! I’ve found having a small portion allowed for yolo + fomo has been helpful. But keeping the discipline is important....
Exactly what I've been doing with Amazon
Well said.
Good info per usual. Thanks for sharing 👍👍👍
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Such a GREAT video!!!
thanks man 🙏🏻
This is super helpful and one thing I learned the hard way is dont buy contracts on Friday for the next week, lost BIG on Monday because of that 😂
"Chasing hype stocks" *ptsd wallstreet bets flashback*
Can you make a video to how to find stocks to trade? Or maybe how to do your DD?
I'm still in my first year of trading and I am still learning and this really helped out a lot. Great video !
I'm barely in second week with paper money
@Tony Nurmagomedov it was going good till my job started to be more busy and i didn't have time to do it
Yes, I'm all about learning from my mistakes. But it's better to learn from other's mistakes...
Markey opens around 5-6 look for some stocks you think have a possibility of being bullish or bearish then take does trades before you head out and check your phone too see where the market is at ofc check your R/R. Then you can take 1-3 trades every day with a 9/5, im also New but I Will deffinetly be doing this. Im trading fx not stocks but good luck,
very nice
It’s wild as a new investor/trader. I started before the WSB hype came into town and had several stocks that were profitable if I was able to focus. I don’t blame another other than myself, but as a new trader, it was nice to know I was able to trade in and out and get a better grasp of what to pay attention to. Still up even with the loses that I’ve had. Plus, you’re videos are helping. Thanks my guy. 🙏🏼🙏🏼🙏🏼
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Yessss great video - heard you went live for trading the other day. I’ve quit my job and doing trading full time now - learning as I go. I follow another RUclipsr and watch pretty much all day. If you’re live - I’ll be sure to hang out.
Hey James how's it going with full time trading? I'm curious! If you reply to me please like my comment otherwise YT won't let me know about your answer!
Hey Daniel
Could you please make a video on affiliate marketing please will greatly appreciate it
More takeaways: don't trade if you have consumer debt (high-interest debt). Don't trade if "real-life" expenses may force you to sell at a time not of your choosing. Canadians banks never lose.
My 1st mistake trading options was not listening to myself and being a little more patient, I closed my put trades at 2 losses and 10 minutes later the stock came down where I believed they would the 1st time.
can you make a simple TOS tutorial video?
Great honest videos. Thank you. I know it's probably impossible to answer, but very roughly, what kind of return would you think you can get on average after a year of studying / practice trading?
it really depends on your strategy. hard for me to say because i had > 2,000% return over the past year, which i don't see being sustainable, obviously!
Nice video how are the fills on tos vs webull for options? I’m approved on webull but not tos.
What platform are you using to be alerted which stocks are going up or down in value in order to get in on time to make a profit
Thank you for sharing your experience. Any advices about trading in/from Japan ?
i have absolutely no clue
Man of Honor
3:18 that's me in minecraft lol,like i won't make a new iron pick because i dont wanna go below 40blocks
displean is essential, at a beginning revenge left me with 0.20c :(from 1000$.
Very informative for an old newbi is there any info on trading robots guessing you’ve guessed I’m very gullible
Hi,
Can't you day trade with a low value account 500-1000$ just take a good leverage?
Ive been trading for almost a year now aswell
0:37 exactly my strategy hahaha
If your not gonna be exercising a call but you know the stock will go up will it make sense to get the $7 call over the $6 call for example?
Hey Daniel! Thanks so much for all of your videos! I'm definitely going to be getting into options because of you. Had one question though, do you have a site that you use to keep up with news for your trades? If you don't want to giveaway your secret you can give me some places to start haha. Thanks again
not really. my brokerage has news integrated, which can be helpful. try www.financialjuice.com/
@@DanielInskeep awesome thanks man! Keep up the great content
best advise is to make mistakes.... Make a lot of them, make it early. Learn from others mistakes... find as many mistakes as possible. Recognize them, Analyze them, learn from them.
If you are unable to find the mistakes you will continue to make them and in turn lose money.
If I had a £ for every time I've said "shouldn't have done that" I'd be a millionaire..well almost....great vid...👍
Ive been watching a lot of timthetatman and this started running in the background and assumed it was a tim video because of the intro music lmao
Video on your favorite indicators?
Have you made any decent trades lately? How much profit ?
Seeing a video upload from you is refreshing when you know you started your day with a 3k $ account being crushed by margin
4:10 Number one thing I tell people, you have to remove your emotions from trading.
Love the new music btw... new music coming our way???
most of the music in this video isn't mine (just the last two), but i always have new music brewing!
@@DanielInskeep as someone that loves Generation Lost keep up the great work! Hello from Cold Cold Minnesota!
Leica T-shirt. :)
haha yeah, it's our mango street design based off the m6 😉
Never let your spous influence trades that’s rule #69
GME is back on the menu!!!!
delish!
So Daniel... Cryptocurrency trading videos next?
btw everyone, whenever he says hold he means hodl
No, he means HOLD because he's not an idiot memer, he's a real guy :)
y e s
Hey, hey, with the Monkees. You can be the stand in for Michael Nesmith with your hat on all the time.
it's so strange how people really care about me wearing a hat.
@@DanielInskeep It just looks so stupid. They're normally used for outdoors when it's cold, just so you know.
@@terry7893 thanks for letting me know
you're literally the fucking best
Im a graduate student trying to get into trading with about $1000. I am a broke college kid. Advice? Thoughts? Can I realistically make gains with $1000? Not trying to make crazy money, just want to learn the skill on the side.
11:18 😂
Not to be a Debbie downer but when do we discuss the taxes to go with it? Newb trader here, I haven't made a single trade yet, but am close. When do I need to factor in April 15th? How does that work?
i rely on tax professionals to give me advice. look up info regarding the wash sale rule and if you are profitable, set aside the appropriate percentage for short term cap gains for your tax bracket. i believe they are taxed as ordinary income.
@@DanielInskeep hey thanks for the reply from a video a year ago! I was planning on speaking with my tax professional about this, but no one of any of video's I've watch have discussed or mentioned taxes, and I don't want anyone thinking this is ok and tax free lol
What is the longest period an option's contract is trading for ? 1 year contract? 3 year contract, is there such a thing?
Look into LEAPS options. They can go out 3 years but they all expire January so big part of year you can get them out 2+ years out.
Can confirm these lessons ...
Learned most of them the hard way ;)
Would not recommend :D
You just paid your tuition. Much better tha, business school.
any chance you can guide me to a online broker with international stocks options trading option:)?
interactive brokers
@@DanielInskeep I did try to enquire them but the customer support is underwhelming, practically no customer rep available nor email or other contacts responds, and I found out from other forums for example their mobile app is not available for basic account only PRO - wanted to confirm it with the company no luck, your balance is coslty if you are not using it - also wanted to confirm as I could not find this on their site etc... Also they are asking more information for a simple account then my highstreet banks tax authority and all official accounts combined:) kind of scarry
I did a call and a put on the same stock 🤣 got mad i was losing money on the call so I did a put... lost all of the money on both 🙃. Lesson learned. Don't trade on emotion.
been there, done that!
I love your mango street videos... videos that don't waste your time. You guys always push out quality over quantity and this channel is the same. Great content!! So I'm going to comment a comment that doesn't waste your time. I love your videos, thank you for posting, seriously you've been a big help in my life more than you'll ever know :) thank you for existing! :)
thank you, manny!
I wish I saw this before I blew away my 50k options trading in 2 weeks.....