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Speaking only for my trading goals, when I have sufficient time to actively trade the market and can generate additional alpha while adjusting my hedges on my overnight option spreads, why not? Compounding edges from term structure, skew, intraday statistical arbitrage opportunities, and order...

Of course, the most risk is in the legging in. Describing the net cost of the resulting butterfly as done at a net credit might be technically true, but it still would be a misnomer and best accounted for as separate trades, in my opinion. I agree that "Hard" arbitrages don't exist. However...

Starting NAV will be $29,755.11 for this journal. I will post screenshots of cash and performance reports at the end of the month. I will provide my rationale for entering, exiting, setting targets, and setting stops for each trade I make. In addition, I will note activity changes in the DOM...

NAV after closing the 2 flys is $29,755.11. Since inception, account is down $244.89 (.82%).

I have been exploring the idea of legging into butterfly spreads myself when it appears the market has a short term directional bias. If one is a consistently profitable intraday trader, it seems to make sense to enter a vertical spread that would benefit from the anticipated price move and to...

Are you the PPT or just a lone market manipulator? Grin.

Rather than than randomly trying to make the spread, I would rather try to find out if one side of the market is stronger than the other and joining the stronger side. In the scenario I provided, the posted bid had been hit and the level 2 showed transactions taking place below the current...

No. I wish to develop scalping skills in the underlying, in support of partially hedging delta or relatedly hitting a desired delta to theta ratio. I believe extra alpha can be generated while the underlying moves against the options position. Basically, I want to profit from shorter term...

Let's say at the time you happen to be looking at TSLA, it is $425.00 bid, $425.35 ask. The last trade was at $425.00, with recent prior trades in the range of $425.00 to $425.17. size is currently 50x50. You could enter a limit order to sell at $425.34, to see if your offer is immediately...

Exited the ES butterfly at 18.75 on instant fill when I thought I was splitting the bid/ask. Probably left 2 ticks, maybe 3 on the table based on subsequent changes in bid ask levels after I was filled. Two adjustments would be to have my own option pricing model and the other would be to...

The term scalping seems to mean different things to different traders. I will break down different aspects of intraday trading as I see it, in order of typical intraday trading frequency: 1. Making the Spread For retail traders, there appear to be opportunities in higher priced stocks that are...

Thank you for your detailed and thoughful reply. Probably the best attitude for me to take is that I'll always be an neophyte, regardless of my experience and performance, to help me keep an open mind to new techniques and changes in market conditions. Another consideration is to address my...

For those who know how to profitably scalp, each trade they take is high probability. If I was sure I knew what I am doing, then yes, I would know which trades are high probability setups and allocate significant capital towards them. This is to test a new idea, to learn, and to be a source...

Actually, my plan is to scalp the underlying as eventual support for my options trading. Being attuned to order flow will help me time and manage my hedges on my option positions for which I would be using the underlying. Based on what I'm hearing and feeling now, I know it is better to go...

So I take it you are basically self-taught with no related professional experience in the financial industry?

I would be curious to know a breakdown of these statistics according to professional experience in the industry, years trading experience, college education, prior occupational experience, IQ, and other trader attributes that have predictive value concerning future performance.

I respect your opinions and am intrigued by your idea of starting out live. Any specific reasons why you feel that way that you would like to share?

I have an inspiration to learn scalping after recently being exposed to new information that answered many long standing questions. My plan is to paper trade to start and after I build up various skills, go live. The amount of time I can dedicate to this will vary considerably each day and I...

Had a realized loss of $62.19 on a long MES trade that was used as a temporary hedge against The OTM ES butterfly mentioned in an earlier post. Although the MES trade generally followed my trading rules, I felt like I was taking bad tasting medicine when putting on the trade because I had a...

Ah ha! Thank you.