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I second that! I always look forward to his comments. But I think he got a bit too defensive about “his” way of trading. I had to re-read @JSOP post to see what it was he said and could not really find anything that offensive. One positive I find about people getting into a fight is that they...

I would say first of all, accept that this is normal at this stage of your journey. Not a weakness. Secondly, I don’t think it will ever go away completely. The more consistent you get, the more red days irritate you. Because you go from “not knowing any better”, to “WTF, I know I am better...

Cool. How do you position size?

What was the delta and duration of the original put at day of sale vs. delta and duration of the new put at the time of the trade? Thanks. How many permutations may you do? Every new wheel gets your average price adversely away from current price. I assume you use same size for consecutive...

Can you please elaborate on these steps? What does “a bit” mean to you? What would make you roll? I assume you will only roll for a credit?

That is NOT The Wheel trade! At least not the way it’s commonly presented. Step one of the wheel is to sell OTM put at strike you “don’t mind” getting assigned at. If you wait for pull back and then sell ATM put, that is trying to swing trade with help of options.

I don’t get it. The Wheel requires you to sell OTM put. You choose the strike ahead of time and will take the stock at that price no matter how far the price goes. That is why you get paid the premium. I am arguing that the stock trader does not get paid but has the choice to buy at that price...

Yes, because you sell OTM puts and you don’t know if the stock will cut through that strike level or not. Where swing traders wait to see where that new level may be and then decide if they want to engage. That is where opportunity cost comes in - swing trader is getting in at possible bottom or...

I think you are too rough on him. I totally agree with opportunity cost point. As swing traders we TRY to buy the pullback at the time when it looks to be over. And we try to exit when the move looks exhausted. Of course we don’t know for sure, but it’s still better than some pre-determined...

If you have track record they will give you a shot. If you are US Citizen without criminal record or industry ban, you will need to get a license. Saying that you post predictions on internet will turn them off for sure.

So, any prop shop would love to have you. Your buying power will be increased within a month and the profits will cover any initial deposits. There is something you are not telling us.

Right. Some time ago my friend asked me if I would consider trading his money. I told him that it’s a funny thing - While I am not sure I can make money trading, I don’t want to take (risk) his money. But once I know I can make money trading, I don’t need his money. There are exceptions to this...

Sounds like YOLO trading system. That’s not what people look to invest in.

Well, most stocks are correlated to the market. Some just not volatile enough to bother with. Some are too volatile. Some are too expensive for my account size. So that leaves me with pretty short list of stocks. But I actually prefer to deal with a few stocks that I think I have a "feel" for...

That’s exactly how I think about as well. But this no-pullback market got me to the point where I jus say - F it, I will sell close to ATM put to start initial position and then add if stock dumps hard. Desperate times call for desperate measures :)

Where’s the alpha in that?

Hey, when I run the wheel on individual stocks, I think about it more as Swing Trading strategy with options. In other words, I start selling puts only at a point where I would normally start getting long the stock. Curious if you incorporate any technical analysis or other factors in your...

What happens when stock gaps and you get assigned at a price which may be 5-15% away from your strike? The price will be too far away to sell calls to be worth it.

The time decay is something you don’t get with stocks. The win percentage is very high, so if you don’t stretch yourself too thin, you should be able to survive and recover.

I know both Tasty trades and Options Alpha teach to only roll the unchallenged leg, never the challenged one. Makes sense to me.