Day trading 0DTE Condors

Backtest adjusted to 20/10 delta. Hitrate much lower..
 

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wxytrader said:
Yeah but at those deltas the premium is garbage...and the risk to reward is even worse. What does this strategy work out to if you factor in working 8 hrs a day, 5 days a week monitoring it?

Also, the price zig zags practically every day to collect all the premium back...and at the very least it will hit one of the stops. Any delta that produces any premium will likely be touched intraday.
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Did you read the strategy? :D

Then, seriously... What kind of question is that about the 9 to 5 salary?
It's a strategy, you might like it or not.
If you think risk reward is bad, don't trade it. But try to understand it first.
 
wxytrader said:
Yeah but at those deltas the premium is garbage...and the risk to reward is even worse. What does this strategy work out to if you factor in working 8 hrs a day, 5 days a week monitoring it?

Also, the price zig zags practically every day to touch all the deltas that generated any premium intraday...you haven't noticed this? Otherwise you could just sell 20 delta options and rely on an 80% win rate lol. Let me know how that goes. At the very least it will hit one of the stops 100% of the time.
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Please read the original strategy, it uses automatic stoploss orders...
 
Statistics (without tx costs) with 8/3 delta. Slippage 10 cent on the stoplosses. Note that back then you could not trade 0DTE every day..
On average 40 dollar a day net with one IC. If you do 10 a day you could stop working cesfx :-)
 

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dorietrading said:
Gamma to high with bigger deltas, stoplosses hit 9 out of 10 times..

Also bigger chance of hitting double stoploss..
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I told you guys...I didn't even need a backtest. You either raise the deltas for more premium and get rekd or you lower the deltas and collect crap...or find a happy medium and basically waste your time but you get to tell everyone you are a day trader :)
 
wxytrader said:
I told you guys...I didn't even need a backtest. You either raise the deltas for more premium and get rekd or you lower the deltas and collect crap...or find a happy medium and basically waste your time but you get to tell everyone you are a day trader :)
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I'm happy to waste 1 hour a day for an on average 400 dollar result :-)
 
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