Biggest 1 Day Loss Ever Day Trading Options (What I Learned)

How much I lost day trading $TQQQ and what I learned Get Total Access To All My Financial Decisions, Option Plays & Private …

49 thoughts on “Biggest 1 Day Loss Ever Day Trading Options (What I Learned)”

  1. Hey Brad, I just got cut off on Webull and stuck with a PDT label for I guess 90 days for excessive day trading and not having 25k in my account. It was an innocent mistake. I thought you were allowed 3 day trades per week and that it reset on each Monday. Well, it doesn’t. Lol. My question is this. Why do all these online brokerages look at day trading as something bad? I was just trying to make 40-100 a day buying and selling ITM options that were expiring that week. I have a negative cash balance and it was helping me to correct it. It literally was taking me less than 30 mins a day and I was done.

  2. I’m relatively new to all this but had been watching TQQQ since it was trading in mid $120’s in July. When I saw it pull back from low $170’s in early January (January 3rd) I bought it at $167 and wrote a call, then bought to close a few days later and wrote another call. I made a few bucks in premium but then the bottom fell out. I didn’t know about the split so the that morning I saw premarket it was down 50% I about shit myself. I’m gonna hold it for months probably, I did the same thing with SOXL, but bought another 100 shares of that when it it “dipped” to $64. Oooffffaaa, painful lesson, catching a falling knife is the perfect description.

  3. I can relate the same story. From up $120k in Robinhood last year day trading stocks, cryptos, lost it all by end of 21, closed robinhood account -18k, opened webull this year and started working with screeners/micro cap trades, learned options, lost 10k on NVDA options in one day getting chopped up. Learned so much in so little time that I feel like my -$35k hole can easily be overcome. Need to be more careful but I think options are the ticket out. GLTA

  4. This is a great, great lesson. Personally, I don't daytrade. I'm just not equipped psychologically to handle it. The perversity of the markets dictates they will crush me like a bug whenever they can ?. Thank you for sharing.

  5. This is not the best environment for qqq, it has been smacked every time it tried to break ATH. Only a few heavyweights holding the whole index, every time those get sold off as well, it gets very ugly.

  6. The only thing I didn't like about the video is the music. That aside, it was informative and a good lesson for us all.

  7. I think averaging down in day trading is one way to blow your account. In this case it bounce but what if it didn't.

  8. You entered a trade and bad news from fed dropped the market… it happens lol ?

    Sometimes I will close a call if it drop mire than 12% and wait for reversal confirmation and just re enter the trade with a higher delta so once it does reverse I can make that baby chunk I lost back much quicker

  9. I feel your pain. I just got smacked with F puts…it couldn't go up any more, could it? Well, yes it could, and it did. Oops! ? Putting your experience out in front of God and everyone takes guts. Thanks for sharing. Best of luck.

  10. I don’t buy anything but I sell to hopeful people. I don’t trade etf’s but if I did I would have sold calls 20% above $180 for juicy premium maybe 3-4 weeks out.

  11. I have lost like this too… The options pricing moves so fast on these, if you don't pin the reversal it feels like you are totally left out of the move. I think trading micro futures, or futures options is a little less sketchy.

    Also a little counter intuitive, but if you are trading 7dte it actually feels like less risk when you buy a little further out of the money, and then averaging down doesn't become so expensive

    Also selling on the day of for a loss was wise, of course hindsight is 2020 but I have definitely seen 90% losses overnight with a gapdown

  12. Have you ever read the book "Trading In The Zone" by Mark Douglas? Trading psychology genre. Why we do the things we do, and why it can be so difficult to admit we are wrong and cut it. Humans hate being wrong, and we hate losing money. So we reallllly hate doing both at the same time, lol. Nice video Brad! Thanks.

  13. Brad, thank you for putting this video together, no many traders will do a video like this, but you did. This tell us about your honesty and desire to teach us a ver well lesson that we all must learn. Once again thank for what you are doing for the community.

  14. Great video, been watching you for long time. I've been there and done that. I would do 1 contract only until u see consistency. I track every trade with my options plays. Also you entered with no set rules on exit? My belief is there are two reasons traders fail 1. They don't have rules. 2. Those that do have rules fail to use them.

  15. Hi Brad have you looked into patterns yet and the percentages they offer for both bull and bear perspective? Could help you a lot with day trading. What I do is identify a pattern occuring during the day (this often means I may not day trade for the first few hours. When the ticker starts to break OUT of the pattern, I then look a pullback to the breakout. If it rejects/bounces off that, that is confirmation to grab puts or calls. I do that because often the initial breakout may be nothing more than a fakeout to trap longs or shorts. If you look at SPY, it presented a descending triangle in the morning that also showed signs of a descending wedge. If you wanted to be risky you could play inside the pattern and try to scalp pivots. Or you could have waited until it broke down below the triangle and see if it retested the breakout line and continued. Which it really didn't. However, once it broke UP out of the wedge and triangle, retested and bounced off the breakout, you'd grab calls and sell some at 463 and close out at 464.

  16. It happens to all of us. Appreciate your truth and think that helps people the most. Remember mornings are all retail and later in the day is the hedgies. Your a smart dude and keep your confidence

  17. This is why I enjoy your videos. You share the good and the bad to find the teachable moments. Thank you and keep up the good work.

  18. This is why I am a momentum day trader using volume as the biggest factor for position entry. We don't need to guess the direction on what we "hope" it does. I can see it immediately from the volume and sales. I would also recommend stop loss on every trade as a day trader so you don't get burned on the wrong entry for timing. And if you are over the $25,000 amount – zero reason to be in a bad trade. Just buy back later.

  19. No emotion on day trading , work like a robot have your process for going in and out and follow it no deviations will do wonders

  20. Ooof never ever add to a losing position, or have the mentality this support / resistance will hold cause it held the last X times. If it was dropping that good, and you wanted hold, why not hedge with a put or sell a call against what your holding, and close them when you think it has bottomed allowing you to add those profits to buying a call. Or seeing that this is the tqqq, a long call in the sqqq could also work.

  21. Great video. Long term investing is great but adding in some short term trades is a good way to grow the portfolio. I bought some TQQQ calls Friday morning, should print next week.

  22. This is the level of transparency and valuable lesson that make me like your channel in the first place. Respect

  23. I trade 3X etfs a lot. But I dont touch them when they are at near high. I normally jump in when they dip big. If I'm wrong, I usually just sell covered calls weekly or monthly. Good premiums.

  24. Sounds like a day out of my day trading routine ?. Learn on my own mistakes, set my stop losses tight, if it goes down, I'm down only some and not too terible. Great learning video, thanks!

  25. You are an honorable man for sharing that trade Brad. Thx. I did made lots of different mistakes last week too.

  26. You are awesome for sharing your belly flops into the market. We have two phases for calling attention to our own mistakes: #1) Hey, y’all watch this!”, and

    #2) “Here. Hold my beer.”

    This definitely was a #1. Here, have a beer. ?

  27. We all been there….you learned from this and now know what not to do. Day trading is tough so don't beat yourself up.

  28. I lost $5,500 on that same exact play except in qqq. Biggest mistake I made in 1 1/2 years of trading. It was so bullish then just straight dumped. Stick to longer swings and move to a higher time frame. Buying deep itm options 6 months out with a .75 or higher delta on stocks that have great fundamentals and have bottomed is the safest way. Sell a couple months before expiry if possible to minimize theta decay. Buying leaps is the best really. Day trading is just gambling more less. It has always come back to bite me in one way or another. Passive invest and just live your life. ?

  29. You mitigated your loss really well in spite of it all. Many good lessons in this video. Much appreciated!

  30. You can do very well trading TQQQ and SQQQ. I do well with them but I don't look at the chart for these. Look at world market and premarket (CNBC) and look ahead at the news cycle. COI, Fed releases, tech rotation is what clapped you. VIXY is even more fun.

  31. The other video should be titled "Chart Indicators I Use To Swing Trade Stock Options and Lose $1600"
    Just kidding.
    Watch all your videos.

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