r/options
Greed is one hell of a drug
Trader blew up his account from $67k to $4k by getting greedy with 0DTE options after successful monthly NDX credit spreads.
About 8 months ago i decided to start trading options seriously. I deployed my own whole savings (about 19k). Did monthly credit spreads on NDX and grew my account to almost 40k in less than 5months. I got greedy and wanted to make more and fast so i turned to trading 0dte. I was successful but it was way stressful and anxiety creeped it. I grew my 40k account to 67k in less than 2 weeks. Good i thought, Trump and his tweets had other plans. My account got wiped out on a big red day and i lost 60k and was left with about 9k. Tried to make it back and lost 5 more k and im left with 4k. I laugh because this is all my fault
Im going back to monthly trading, slowly build my account and never ever be greedy again.
Moral of the story is: Don’t be greedy. Grow your account slowly especially if you’re young