Option Strategies: .SPX, NVDA& PLTR

EliteOptionsTrader
07-09

1.

Trade plan for Wednesday ✅

$S&P 500(.SPX)$ finished up day 2 of consolidation this week. We saw some relative strength in $NVDA and $META again today. If $SPX can breakot above 6251 we will see 6300. WAIT for 6251

$NVIDIA(NVDA)$ to 163 in play by Friday if it holds above 160 tomorrow

NVDA 160C very cheap for at the money. This can work above 159

$Palantir Technologies Inc.(PLTR)$ through 140 can run to 144-150 range

PLTR July 11 142C best above 140 as a lotto tomorrow.

We can see another range day tomorrow if $S&P 500(.SPX)$ stays under 6251 and $Invesco QQQ(QQQ)$ continues to trade under 556. BE PATIENT in this environment. Good luck tmrw everyone! 🫡

2.

The biggest mistake traders make when they first start out is focusing on the reward versus understanding how to manage their risk.

Everyone reading this post has a different risk appetite.

For some traders they can lose $500 and it will ruin their day. For another trader they can lose $5000 and won't blink an eye.

Once you understand your true risk, you will trade without emotion.

Size too big? Your emotions will control the trade.

Size for zero? You're in control.

What is sizing for zero?

Most people buy $1k of calls with a 50% stop loss ($500) .. Instead I would try buying $500 of calls to account for my max risk and allow the trade to see its full potential.

This strategy removes all emotion out of the trade and will allow you trade without fear.

Most traders size up too big too fast after a few wins and blow up their accounts. This is a big mistake and should be avoided at all costs. If you can master risk management, you'll be able to scale up over time gradually as your account grows.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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