Sang Lucci | Millionaire Options Trader Talks Success and Failure
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- Опубліковано 22 чер 2024
- In this episode, Sang Lucci joins the Trading Takes team to discuss successes and failures in trading.
In this episode, we answer the questions:
Why do traders take big losses? How do traders recover from big losses? What other life factors impact trading performance?
We then dive into options trading strategies, changes in the options markets, aha moments in trading, and more.
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👉 Video Contents:
0:00 Introduction
0:51 T4AC Pickleball Racket Story
5:35 Weekly Contest
8:04 Why Traders Take Big Losses
16:55 Dealing With Big Trading Losses
31:34 Do You Learn More from Success or Failure?
43:35 Options Trading
1:09:06 Trades Working Well This Week
1:18:50 Sang's "Aha" Moment in Trading
1:21:42 Q&A
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Captain herb luccciiii
my favorite IU podcast episode so far! lucci is a legend
It’s our boy Lucci! 🔥
The one and only 💪
After spending a year just dabbling and exploring, my "Aha" moment hit me. It was like suddenly realizing I had this extra part of me I didn't know about before - a "Trader's Limb." It dawned on me that trading isn't just about picking up a skill; it's about changing how you use what you've got to excel in certain areas. Right now, my Trader's Limb is pretty awkward, but I'm determined to get it as nimble as my fingers through practice and focus. This realization has been a game-changer, helping me tune out the noise and dive deep into mastering my approach.
Very interesting perspective - glad to hear it's helping things click for you.
Turning on a bid-refresh algo for the racket is crazyyy 😂
Another hot episode with Sang. Nice discussion on options and hats off to Chris for all that knowledge in all areas of trading, especially options. And Judah got the best ideas on going long stocks. Thank you all👏🙏.
Thanks for tuning in again!
Trying to get the free month here! Very new, learning since June. It has not been one aha moment but as time creeps along you realize and understand something that was said much earlier. OOHHH thats what that meant. Look at the daily chart for your setup. All the small things that come back around on the train cycle of my small brain!
Just catching this interview late. Love the pickle ball question Chris!!! 😂
For Contest:. Aha moment when I realized I will never fully feel like.
" I got trading now I can just cruise" It's a work in progress regardless of wins and losses the system gotta be refined more and more and adjusted here and there
The edge is in the trader more than its in the system
Absolutely. There's always something new to learn, something new to optimize, or an area of trading to scale up. And just when you think you figured everything out, trading throws you a curveball... Great take!
Love Lucci! He tells it like it is.
45:50 Lucci said there should be an intra day volatility indicator and there is its called VVIX its the intra day volatility of the Vix. 😂😂
Hell yea thanks guys! Lucci was a great get, would kill for a Petertrades appearance or on a pod w Anthony
Always a great conversation with Sang. And maybe one day if he's open to it...
I second petertrades
1:02:00 Nobody cares about the banks in this market
1:04:00 Chatrooms
1:11:30 MARA trade
1:13:30 DIS; META
1:19:20 *Ah ha! moments*
1:22:00 Dealing with burn out
1:26:00 Lucci’s daughter trading?
1:29:00 Do you make money or not?
💥
Focus on one chart, one thing at one time. Easier said than done, but changed me for the better.
Great insight. So many traders try to master everything at once - one thing at a time is definitely more manageable (and more effective).
The real question is, is Lucci any good at the “Yes” game?
It all comes down to position sizing and risk management. I had a $640k draw down once, and that was the last and only time. Now, I never risk more than 2-3% of my account in any one trade, and I'll only take that kind of size with an A+ trade. I execute all trades with a hard stop and a take profit order [OCO] instead of a mental stop because mental stops can be self-negotiated. Suddenly, your mental stop loss is 2-3x more than it would have been if you had just had a hard stop. Know what your weaknesses are, and make sure that you have processes in place to protect yourself, from yourself in the event you go on tilt. It will happen. It's not a matter of 'If', but 'When'?