Shout Out to WFH Traders: Big Gains and Pain
Crazy to have bought at $0.37, sold at $0.93, and still feel like you missed out.
I have increased the amount of time I spend day trading and it has been working out very well.
If you work from home (WFH), day trading can be a great way to bring in extra income with only an hour or two of your time needed.
Do it wrong though, and you end up staring at the screen all day which is not a smart move over the long run if you’re trying to advance your career.
And if you are willing to dive in and take on some risk, there is significant money to be made.
For example, today I was able to buy in to SPY $470 strike 0DTE call options at $0.37, $0.42, and $0.65.
I later sold these call options for $0.52, $0.55, $0.62, $0.85, $0.90, and $0.93.
In just under one hour I was able to profit 65%. No doubt a great day.
So why wasn’t I happy?
Well, I was happy but there was a moment where I absolutely was not.
This is one of the tricks with being a successful WFH trader. You have to stick to your plan, take your profits, and carry on with your day no matter what happens after you’ve left the trading desk.
Sometimes your decisions prevent you from making the kind of gains you might have made if you traded all day.
Today the market took the same calls I bought for just $0.37 all the way to $4.37, a gain of 1037%.
I happened to take a look at them a few minutes before the close and I am only human. Despite my 65% gains in just one hour, I felt like I lost money.
I was easily able to shake it off, I’ve been doing this a while and of course +65% is great for any trade. But I thought it was worth sharing because at some point every trader has this experience.
It is a challenging part of trading, and an odd feeling. To be able to make money and it still seems like you lost.
No doubt there are days where I will leave open positions, set a stop loss, and let them run. I check in periodically and will move up the stop loss if needed.
Sometimes those days work well. Sometimes they cost me a little money.
And then there are days like today when I wish I would have left a few runners but I just didn’t. That is just how it goes sometimes.
If you have been reading A Trader’s Education for any amount of time, first thank you, but also you probably have noticed something I say repeatedly.
There are endless opportunities presented by the market.
That is something I keep at the front of my mind and it helps me quickly move past missing out on trades. There is no need for FOMO.
If you miss a trade today, there will be ten more tomorrow to take advantage of.
So, I told my wife about the 65% gains this morning and did not mention the 1037% gains I “missed out” on. She was happy without reservation.
At the end of the day, being a WFH trader is about being efficient with the extra time you are given and not abusing this privilege.
Keep a good thing going.
To that end, I’m working on putting together a free guide to day trading as a WFH trader.
Really it is for anyone, but the focus on trading strategies that can be executed quickly and with minimal screen time makes it ideal for those working from home.
Stay tuned for that!
Also, tomorrow morning I have SOFI and IONQ trade ideas dropping for upgraded subscribers.
Add them to the TSLA, RIVN, SHOP, and MRVL trade ideas from last week and I hope you are making solid profits!
Let me know if you have any questions and I hope you have a nice evening.
-Nate
This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.