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The performance of an option doesn't depend on what the trader knows, thinks, or believes. It will simply decay over time. From my point of view all I care about is the premium. From the buyers point of view he has to factor in spread, premium, fees, and time decay. As mentioned there is only...

Yeah but what do you do if you average down and at the end of the day you are still losing $?

I created something similar...my spreadsheet shows the return on capital that is at risk which is essentially the same thing as the Sharpe ratio but more dynamic. Where the Sharpe ratio will tell you how much capital you are expending for a return on an investment compared to other investments...

Pretty sure you're being facetious but anyway this is not about adding to losers lol especially intraday. The idea is to improve on a position you are prepared to hold possibly months or a year or more...so again is why I use ETFs and indexes to avoid all the earnings and other risks involved...

8.2M

Because you are closing a trade based on time lol for no other reason. I don't decide to sell a car just because it's Wednesday and the guy is offering me 1k less than I paid for it this morning.

All of the above...well what is day trading to you? To me day trading is 0 dtes so a totally different animal...if you are referring to day trading as in buying stocks and closing positions every day no matter what well then that's just the dumbest form of trading possible.

Sound advice to become part of 98% of traders who never make any money. :) Trading is like everything else...as I believe BNF said it became muscle memory. No amount of strategies or analysis, systems, journaling or backtesting are going to help until you know what to look for, and you can only...

Ask yourself, "Would I take this trade without a stop loss?" If the answer is yes, then you are good to go. If the answer is no then why are you buying? It is either time to start accumulating, time to start distributing or time to do nothing. Just to be clear, I'm not saying don't use a stop loss.

Glad to see somebody knows the difference between sarcastic and facetious.

Here is an example. IWM closed @ 202.96 and opened the next day @ 196.22 so how would stops have helped you in that scenario? It dropped even lower intraday, so since you think like the average retail investor, you would have been stopped out at some point after market opened taking huge losses...

It should be real easy for you to look up.

That's a weird set of candles...you won't find another one going back a year. Coincidence that I just happened to have sold puts? You tell me. It should be called do-si-do like in square dancing where everyone grabs a partner. It even sounds Japanese. :)

So they are going to be a slave to their computers day trading to try to return the same 20% (I doubt it) that I made lounging on my couch? They might as well just get a day job. Here is the formula I use: Couch time = Start date - Time spent to place the trade - Time spent to average down

I sold a put on the 12th @199, the price went up to try to entice me to take partial profits, but I was stubborn and didn't want to give back any premium. Then price crashed down the next day to 193...clearly to try to get me to close my position for a loss...I was like nope. Then the next day...

You don't do this buying calls...I never just buy calls of puts. You could do it selling puts. Anyway, if I legged into the stock at $10 with a plan to average down then yes I would average down. The problem is retail, through a campaign of fear, have been brainwashed that they MUST place stops...

You are thinking too linear with right or wrong...you can be right that the price will leg down another level and act accordingly. Placing stops assumes that you always nail the bottom when most positions naturally go negative before they go positive.

All my tvs are Roku!

I'm not even in a position right now lol...well Dogecoin last time I checked was up $500...but again no stops.

I posted lots but it flies over all your heads, even D, so now I just simplify with C&H's. I have basically road mapped Bitcoin since summer.