NOTES 1 - TRADING AS A CAREER.
I am not here to teach you how to trade. I am here to show my work to the world. With that said, I don't want to be responsible for any noob's losses. If you have less than 5 years of experience, TRADE AS SMALL AS POSSIBLE TO KEEP YOUR INTEREST WHILE YOU LEARN. You cannot learn w/o risking something. BUT YOU DO NOT HAVE TO RISK BIG TO LEARN BIG. Any trader worth their salt will tell you that school of trading the market is like the school of life, EVERYONE WILL PAY TUITION to learn. AND ONLY 2% OF PEOPLE MAKE IT. Do you think you are in that 2%? If you are big doubts, consider quitting before you lose more than you can afford.
NOTES 2 - Specifics as they apply to your situation should be different from mine.
a) I trade one instrument, and nothing else
b) that is GC futures options
c) why do I do that?
d) bc I have like, 3 major trades A YEAR
e) meaning I wait, wait, wait, wait, wait before something major forms and I commit big WITH AN ABSOLUTELY OPEN MIND B/C THERE IS SO MUCH RISK
f) so right now I have calls expiring 8/16
g) I usually don't have a stop, I just have a ratio fund$ in call vs. put
h) right now, I have no puts
i) if you need a stop (relative to this trade) it should be 1932 right now
k) please understand that this is a 10-day trade, not a a 1 day trade