Can you help me out here, can you expand your comments on trading fundamental as to what they should be? I read lots of books on day trading but none of their methods worked for me when I tried them out. rajesheck's momentum approach seemed to make some sense to me. Of course the devil is in the details.
When the market gets choppy, the bid/ask spread in options get wider, volatility gets higher and to open and close an option trade everyday and make money is much more difficult than day trading the underlying where you only need to "guess" the direction. In day trading options you also have to deal with the bid/ask, time decay, volatility, vega, gamma.... all within a day? I find that very very difficult.
Appreciate your coaching. I left my ego home when I signed up because why bring it to an internet forum? The best trading knowledge I gained from ET were actually reading carefully between the lines of some of the posts. There are some really really good pro traders here and you know who you are.3x profit and 7x SL... so that means the profit target should be 7/3= 2.33 x the loss with SL.
So @ironchef , there's an example of a very basic/fundamental trading error.. A lot of people here on ET are just here to shout incorrect shit onto the internet... never understood why... you seem very eager and genuinely interested to learn, so first thing to do is filter out the rubbish... this is very possible one of those rubbish threads.
And indeed... why daytrade options, since they are less liquid/higher cost/wider bid-ask spreads...
And I tried to give back and to help here and there when folks asked for comments.
