Hi everyone. I'm new to the forum. I have been dabbling with options for a long time, mostly selling covered calls. Recently, I have been trading TQQQ (3x the performance of the nasdaq) options. I only day trade them, buying both puts and calls on options that expire in a week or two. I did extremely well last week, and was wondering what you more experienced option traders think. TQQQ is extremely volitile, and i need just a small move in the underlying stock to make a nice profit. If my trade is going the wrong way, I usually double down bring my cost basis down. I never hold options overnight. Your thoughts are greatly appreciated.
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Day Trading Options
- Thread starter Longislander
- Start date
I usually only trade the 9x, 3x does not offer enough leverage, 3x is for those who get excited with boring moves.
Hi everyone. I'm new to the forum. I have been dabbling with options for a long time, mostly selling covered calls. Recently, I have been trading TQQQ (3x the performance of the nasdaq) options. I only day trade them, buying both puts and calls on options that expire in a week or two. I did extremely well last week, and was wondering what you more experienced option traders think. TQQQ is extremely volitile, and i need just a small move in the underlying stock to make a nice profit. If my trade is going the wrong way, I usually double down bring my cost basis down. I never hold options overnight. Your thoughts are greatly appreciated.
If you never hold overnight, why are you not trading the closest expiration?only day trade them, buying both puts and calls on options that expire in a week or two.
Yes, good question. I thought that if I got stucknin a sour trade, I could hold for an additional day or two to see if the trade turns around. Good thought though, I may do that in the future.If you never hold overnight, why are you not trading the closest expiration?
9x? What etf family offers that? What is the symbol? ThankI usually only trade the 9x, 3x does not offer enough leverage, 3x is for those who get excited with boring moves.
buddy, you got to lighten up a little! looks like you got no sense of humor! if you still dont understand, the fellow was poking fun of you.9x? What etf family offers that? What is the symbol? Thank
I actually heard a while ago that some etfs were going to be leveraged 4x in the near future. But thanks to you guys for the humor. The TQQQ options are a real rush. One must be patient and have additional cash to buy more if needed.buddy, you got to lighten up a little! looks like you got no sense of humor! if you still dont understand, the fellow was poking fun of you.
that sounds average down，bad signI actually heard a while ago that some etfs were going to be leveraged 4x in the near future. But thanks to you guys for the humor. The TQQQ options are a real rush. One must be patient and have additional cash to buy more if needed.
I don’t trade options this way, but my thought is that if you can day trade this way profitably, you should have no problem day trading QQQ itself once you have enough capital. This may be a great way to practice with limited risk.Your thoughts are greatly appreciated.
Hi everyone. I'm new to the forum. I have been dabbling with options for a long time, mostly selling covered calls. Recently, I have been trading TQQQ (3x the performance of the nasdaq) options. I only day trade them, buying both puts and calls on options that expire in a week or two. I did extremely well last week, and was wondering what you more experienced option traders think. TQQQ is extremely volitile, and i need just a small move in the underlying stock to make a nice profit. If my trade is going the wrong way, I usually double down bring my cost basis down. I never hold options overnight. Your thoughts are greatly appreciated.
My advice. Focus on risk management and return of capital. Just because you did good one week does not mean you will do good next week. One bad trade can easily wipe out all your gains. (Or worse result in liquidation and a catastrophic destruction of you bankroll)
Make sure you understand the products you are trading 110% Always hedge against the black swans even if it means lowering your returns. OR end up like LTCM etc.
Doubling down if a trade goes against you is called the "Martingale Strategy" A bad idea. If a trade is going against you, close out and take your loss, Plan for the next trading day and learn from your losses so you can trade another day. Always protect that bankroll.