Trading Rules Within our Channel

Be respectful toward other people.
:round_pushpin:No tolerance for harassment or personally attacking others.
:round_pushpin:Invest at your own risk.
:round_pushpin:Do not offer investment advice of any sort, force or tell people what to trade, or give them recommendations. Opinions only.
:round_pushpin:No text spamming in the text channels or promotional links of any kind.
:round_pushpin:No advertising of any kind on the server or on the side to other members.
:round_pushpin:Stray away from arguments in any channels, take it elsewhere and be professional.
:round_pushpin:No disturbing content or excessive repeat of something typed previously
:round_pushpin:Member will be banned who doesn’t follow the rules.Some rules can be bent some rules can be broken and some rules should never be bent or broken.

:white_check_mark: When it comes to trading options the highest risk highest reward style is weekly expirations that being said risk management is the number one rule of all trading, in my opinion, you should never be all in, in one trade because we won’t be right 100% of the time.
:white_check_mark: When it comes to stop losses and entries and exits there is a little bit of a science but it’s also an art form and it’s also a feeling it’s something that you develop overtime over months and years of trading and watching charts you’re going to make some mistakes along the way but that’s OK.
:white_check_mark: Try not to make them more than two or three times there’s two rules of thumb when it comes to stop losses one school of thought things with options you need a 50% stop loss because options do you need room to breathe and some traders have very tight stop losses at break even or just under I’ve tried both methods and for me at my stage in my career in trading I don’t use stop losses, I use mental stop losses for instance on Monday 11/9 we traded AMD I was 60% down from my initial position but I had confidence in the trade that it would work out even though my entry was less than perfect far less than perfect but rather than sell and take the loss and let my emotions get the better of me I decided to hold it and sure enough it came all the way back and I sold it for about 90% return on my position a little under $1000 this will happen a lot in trading and it’s not always easy to make the right decision whether to hold something through the red or cut your losses and move on. What I’ve noticed that works for me is having small positions and no stop loss and essentially letting the trade expire worthless because if you have the right idea in the right stock with the momentum the chances of timing the absolute bottom or the absolute top are rare it happens but it’s not always the case so it’s good to just have small positions and let your trades either work or don’t work.
:white_check_mark: I recommend 3% position size per trade based on your portfolio if you have a small account then maybe increase that to 6 to 10% but never more than 10% if you have a really big account over 100,000 I recommend 1% per position to 3%
:white_check_mark: If you don’t know something ask your neighbor or fellow trader in the group. We’re all here to help and be profitable.