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My 5 month experience trading options
Main Post:
I got interested in trading options in April. It has been 5 months now. Just wanted to share a short experience. Tldr; Its not worth it. Slightly longer version follows. The amount of nervousness and anxiety it causes and addiction that develops are some of the bad things. Sometimes you don't feel like setting a stop loss in fear of it getting triggered (despite the fact that stop loss is designed to save your ass). Some of the big losses you take make you irritable and not able to focus at work. Even the feeling of FOMO hits you hard mentally. For example since last couple of weeks I had made a plan that I will short nifty at 11800 and yesterday it hit 11800 but I didn't and if I had I would have made decent money. The market fell like a stack of cards yesterday and I wasn't able to focus at work because of the feeling of having missed out despite planning for weeks. Also sometimes you are in a big profit but you don't take it and it goes back to zero, it hits hard as well.
Overall the emotional rollercoaster is not worth it. Thankfully I haven't lost any money trading options since I started so I am pretty lucky but I didn't make any money either. I only used a small capital of 10k which I was prepared to lose as I wanted to experience it without using lot of money.
In the end its just way better to just invest money sensibly and let it grow rather than play video game in options trading.
Please share your experience if you have any as well. It could be helpful to others.
Top Comment:
At the starting of yesterday market, i bought a put option of strike price of 11400 at the price of 12. As the market dropped like a gigantic ball it reached the price of 50. Having 3k in my pocket was something worth satisfying and i sold it later realising that it was one of my greatest mistake. That put option reached the highest price of 112. (AROUND 9K OF PROFIT) LESSON LEARNED: A EARNING DAY CAN BE A MISERABLE DAY TOO
5 BEST DISCORD GROUPS ABOUT CRYPTO TRADING
Main Post:
What would you do if we told you that Discord can help trade crypto? Your first thought would be: “No, it’s impossible, because Discord is for video gamers. I follow Twitter crypto accounts. That’s enough.” 🙄 But we can prove that the real action happens on such platforms, as Discord. If you want to subscribe to the best crypto Discord groups for signals, news, rumours, price analysis, and more, keep reading this post!
👉 https://discord.gg/Yru2hEyrG4
📌Cryptodra
This group is NOT for begginners or gamblers, it is for those who take their crypto invesments/trading serious and is focused on those who wish to 'time' this market in some way. It's a data driven approach at looking the market and focused on swing trading and the understanding that the market is a 0 sum game, so it's something different compared to all the "technical analysis" gurus. For those who have invested a serious amount of money in crypto and are able to think critically about information, this will change everything for you.
📌 Crypto Rand
Those of you who use Twitter will almost certainly be familiar with Crypto Rand. The account has already been functioning for some years as it focuses on crypto market analysis and research. The main two channels on the server are Public Discussion and Public Charts. There’s also a “trollbox” which is used for fun stuff, like memes, jokes, and son on. You will get some fun for sure!
👉 https://discord.com/invite/zfvyffnx8
📌 Cracking Crypto
It has the great variety of channels within one group. So, if you have any crypto questions, you will find all the answers here. The group also has several channels dedicated to crypto signals. Each crypto-signal channel is operated by someone who considers themselves a specialist in that cryptocurrency.
👉 https://discord.com/invite/zfJkdxzrq
We think that you know this reddit group which is the biggest one out there. r/CryptoCurency is its official Discord server. When you first the server, you will only have access to a small number of rooms (General, Traders, Charts, Resources, Mining, and Developers). As you take part in the life of the community, you will be promoted and get an access to some new rooms where more serious traders hang out.
👉 https://discord.com/invite/GdVCYfgvr
📌 Spacestation
This group focuses on Ethereum and is one of the most popular crypto Discord servers. In this group you are welcome to chat about anything in the cryptosphere, including miners, developers, famous crypto personalities, and other cryptocurrencies. Keep in mind that this group started as a place for ETH miners to meet and discuss their problems, but since then it has expanded to a wider range of questions.
👉 https://discord.com/invite/srfKTam5S
Which crypto groups in Discord do you know? 😄
Top Comment: Cryptodra is actually very good, you learn so much there! 10/10 recommend