My friend trades options on Robin Hood app. He is a very young guy and doesn't have a high income at all. He claims that he averages about 30 dollars a day trading options. He sets the contracts for long term intervals like a couple weeks? Anyone here do that?
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Any luck with options trading?
- Thread starter Pandora
- Start date
logicallefty
Moderator
I day and swing trade stocks and ETFs every single day but I have not yet looked at options. Been thinking about it though. Will be watching this thread for some insight from folks here that do.
Hey logicallefty....can a beginner average $300 a month swing trading stocks and ETFs? I am coming from the crypto world so this stuff is new to me. I just set up and e trade acct
logicallefty
Moderator
Yes, that is a very doable goal even if you work a full time job. For swing trades I do stocks that are $15-~$45. With daily RSI between 30-40 climbing up. And an overall daily uptrend above the 180SMA, 30EMA, and 9EMA.
Bible_Belt
Master Don Juan
There are all kinds of different options strategies, each with their own different risks. Generally speaking, you should be able to make money trading stocks before you try options. Time value is what works against you with the option. You might be right that a stock will go up, but the call you buy could expire worthless before that happens. I don't know what your friend is doing, but it is possible to sell uncovered contracts and make a small amount of money almost every time...then incur a gigantic loss that wipes out all your gains.
