Rookies Reveal | Learning Options Trading Step by Step
Hi, mooers.
Welcome to Moomoo Rookie Showcase, where we present the newest mooers' insights and their trading journey on moomoo.
In this edition, we'll uncover @OngHakhowzer's trading journey in stocks and options. Don't miss his incredible story during tariff moves. Dive into the post and join the discussion below, where @OngHakhowzer will interact with you in the comments section and there's also an interactive giveaway.
To help us continue to interview more moomoo rookies in the moomoo community and bring their stories to you, please like ❤️, save⭐, comment💬 on this post and follow our account✅! Your support will encourage us to create more great content!
🎤 Could you start by telling us a bit about yourself, including age, location, profession, hobbies and others?
I’m Jeff, a 30 year old business owner. When I started investing, it was during the period when I was at the end of my national service period, late 2017s. My hobby is investing and reading about the market, which is why if you check my Instagram or YouTube, I tend to create content around the market movement. As my business picked up, I had to put content creation on pause to focus on business, but investing and market research is still a daily habit for me.
🎤When did you first get involved in stocks and options, and what motivated you to enter this field?
I bought my first stock on Standard Chartered app, I remember it was 100 shares of Starhub. The brokerage fees were really high in 2017, and I paid about $12 for every transaction. 😢
Around 2019 was the time when I started to buy US stocks, and I realized the fees for trading were really high. Thankfully I found moomoo, which significantly reduced my cost basis, and it’s now my staple for trading.
Around 2021, when I first researched about options trading, I realized I can strategize my portfolio and trading thesis using options, so I researched a lot, and tried, and failed. But thankfully, after many failures, I think I’m starting to understand it better now.
🎤Could you share a memorable trading experience, detailing perhaps your most successful or challenging trades (One most successful + one challenging trade)? What lessons did these experiences impart?
One that definitely comes to mind would be the Nvidia trade on the day Trump paused tariffs. I managed to not only time the highest price of Nvidia for the day, but also exit all my positions for my options. There were a lot of fun entries for NVDA as well. Be it calls or puts, you can find an entry.
A challenging trade would funnily be, a day before the pausing of tariffs. I held onto call options thinking the pause will be coming soon, but it didn’t, which is why I lost a significant amount of money right before Trump paused the tariffs. However, I stuck with my trading principle: bond market was crashing, China was clearly unhappy, and they hold 1Trillion of US debt, which made me believe that Trump would inevitably have to flip. Believing in my own thesis was one of the hardest thing because the market simply told me otherwise, yet I kept doubling down.
🎤How did you pinpoint which moments to buy or sell? Are there specific indicators or tools you depend on to guide these decisions?
I use very simple resistance and support lines, and the level 2 data book which is a part of moomoo's built-in feature. If I can see strong buying or selling pressure, I usually undercut or overcut the market to get in or out before the main bulk order happens.
The blue parallel channel in the image was drawn by this user using drawing tools.
The red dotted line in the image indicates the stock’s price at that time and it is shown for illustrative purposes only and is not a recommendation.
🎤Which specific features, tools, or sections on moomoo did you find particularly useful in options trading?
Level 2 data is definitely a huge help. Volume-Weighted Average Price (VWAP) and Exponential Moving Average (EMA) lines are very helpful in plotting my support and resistance lines as well.
🎤What kind of challenges have you encountered during your trading sessions? How do you tackle these hurdles and adjust your strategies accordingly?
It is generally quite stressful because in a short period of time, we are trying to focus on a direction for a stock. Any volatility can affect the direction, which also means pre-trade research needs to be done before buying, and we need to be hyper focused for any new breaking news that might affect the stock.
If there are huge risk upcoming, and I feel that I need to derisk, I would set up a stop loss. However generally I think stop loss would usually trigger upon lines that’s drawn by others so I prefer not to use it.
🎤How did you come across moomoo? Was it through a friend's recommendation or an online search? What motivated you to register and start using this platform?
It was a big campaign in Singapore, during 2020 when there was a boom in investing in Singapore. That was when I also decided I needed to significantly lower my brokerage fees, and thankfully found moomoo. I also found all the extra functions very helpful, such as indicative price, premarket-post market trading, level 2 data books, and even comments section to gauge public interest.
🎤Do you remember your first trade on moomoo? Can you share some details and feelings about that experience?
My first trade was the free Apple share given by moomoo, which made me invest more into Apple after getting the initial 1 share.
Honestly, it was a great deal, because no one say no to free stocks. I think the process of trading was seamless and easy to do deposits and withdrawal.
🎤What insights would you offer someone just starting out with trading?
🎈Start small, and be okay with losing. Losing money trading is very normal. In fact, I would say it makes more sense to lose money trading the first few times, so you know where your pain points are. And find a strategy that works for you. It could be scalping in the premarket, where lower volume occurs, or it could be options trading in the open market where price volatility is high It could also be LEAPS where you can trade on lower volatility contracts, but requiring more capital.
🎈Know your risks, and you’ll be fine. At the end of the day, just remember that no one loses money by taking profits. Stay safe!
🌞 Spark meaningful conversations
🗨️ Microphone Topic: What else do you want to know about Jeff? Any other topics you wanna discuss with him? Comment below!
🎁 Gift Rewards: 30 points for the first 200 mooers who raise insightful and Jeff-related questions
📅 Time: From now to June 30th, 23:59 SGT
(Moomoo Points may be redeemed only through the moomoo app and have no other value.)
Disclaimer:
Options trading entails significant risk and is not appropriate for all customers. It is important that investors read Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. Supporting documentation for any claims, if applicable, will be furnished upon request.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Adipose fin : how do you determine what kind of market research to do? there are lots of noise out there
OngHakhowzer Adipose fin : Personally, I think it depends on the industry you want to focus on. For example, if you are interested in chips, you don’t have to worry yourself over pharmaceutical news.
Also with the rise in AI, use AI helpers to help fact check your research. You can try the moomoo AI chatbot, I used it recently to do some calculations during my research as well.
You can also try to find KOL surrounding the industry you want to research on, find them on X, instagram or which sharing platform, as they would usually showcase their thought process.
發866發大財 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Ivanchen668 :
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Simon Ting : Great
美丽的泡沫 :
Brent Jeffrey : Just late to the game, need all the invite I can get .
104708947 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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