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patriots317 t1_j6d3dzr wrote

Reply to comment by BitSoMi in How many % do you often set for cut loss? by United-Display-386

No. It’s called research and trusting your plays. The market whipsaws all the time. Again I’m not talking about day trading. That’s for professionals. I’m talking about mid/long swing plays while selling premium. Have fun staying poor.

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BitSoMi t1_j6d3s07 wrote

Imagine bragging about trades where you were down 50-60% on a swing trade, got lucky on a reversal and needed at least 100% just to break even. Lol. The stop loss dude is always ahead of you if the trade goes against him and reenters at a better price point. No wonder dudes lose everything on here. Pure gambling

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patriots317 t1_j6d47oy wrote

It was otm options with a strike 6-8 months/ surrounding a time with a positive catalyst for the company. Being down 60% at one time with a plan to average down over the course of 8 months isn’t that big of a deal. The stop loss cripples you. Again,unless you are professionally daytrading, which is also extremely difficult but not many people can do. They can see your stop losses.

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