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Ya I tried to not comment on the trading plan itself but stick to his option strategy. Your concerns are valid Matt. But at the same time I have traded vertical spreads on the SPY and QQQ and held the position for only a couple of days. I know thats not exactly what dextor proposes but its also...

I get what you are saying. If I understand you correctly it will like you think it will. Given what you have described I would encourage you to look into vertical spreads. Bottom line is that you are on the right track with your thinking assuming that liquidity is ok.

You could form a sort of stoploss or hedge with options but I would be concerned about transaction costs and loss of value of the option eating into profits. I assume from what you have written that you are a swing trader and your positions are subject to wider price variations then a true intra...

Not sure that I completely agree with you Matt. You are correct that some option strategies trade volitility. I conceed that. But they can also be directional. Take for example the simplest trade there is. You think the CL contract is going higher, so you buy a call.

Thats what I did when I traded stock options. Progressed into vertical spreads which worked well for me. I think its because I had such a good experience with stock options that I keep thinking about doing with futures. Keeping Roberts advice in mind of course.

I have looked at trading futures options a couple of times. Ibhave only done it once so that I could carry an oil position over the weekend. You would not get a margin call if your trade is defined risk. Even trading futures contracts (or anthing else) you should never get a margin call if...

Well maybe. I traded options before getting into futures. Mostly on ETF s. There many correct ways to do it but here is one suggestion. Look at the monthly/daily charts once or twice a day. Look for either a reversal or a retracement in a trend. Enter with an options position there. As far as...

All that is important is that it works for you my friend.

I agree. I will add this with regard to entries. Whichever entry you choose you should consider two things. One, does this entry provide me with enough room for potential price movement to make the risk worthwhile? Two, if you are wrong about the trade can you identify exactly what criteria will...

Actually I am not incorporated. Here in the USA there is no need to do that unless you have a special situation. Our new tax laws may change that but not so far.

Have you considered equity crowd funding? In most cases you become an owner/member of the LLC and not only paeticipate in the profits (or losses) but also may be able to the tax advantages of business ownership as well.

I get it. I had to join the Marine Corps to get my license.

Realtive prime. LOL. Thanks for the compliment. I am actually 55 years old. I am came to daytrading from being an airline pilot. Our schedules made making the switch easier than most professions I would think.

Probably true.

Not sure I buy that idea. My background is from extremely demanding professions that require a lot of discipline and I am now a trader. I realize that a sample of one is too small to base any stats on. Or perhaps I am just an outlier.

Maybe. I go to Las Vegas a lot and never gamble. I actually hate the games. I think its boring. But I will trade hours each day and think nothing of it.

LOL. You make it sound like more fun then it actually is. Maybe I am doing it wrong.

LOL. I wanted to respond to this but I can't say it any better than you did.

Nice job sir! Me too.

I wait for the dust to settle. Either whatever caused the spike in price will disturb the market structure and start a trend or it won't. If it does there will be many opportunities to enter the trend and safely take advantage of it.