I am back again... Crystal ball here.... Take it or leave it. Spy will..

greeneveryday said:
Professional day trader is a person making a living by selling and buying equity/option/future and other investment vehicles in the same day....
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Impressive. :thumbsup: The only other poster I know who day trade options and made a living is @jeffalvinson, my hero.

None of my friends/associates who day trade made any money. Me neither, and to survive, was forced to trade longer time period, i..e., swing options instead of day trade options.
 
ironchef said:
None of my friends/associates who day trade made any money. Me neither, and to survive, was forced to trade longer time period, i..e., swing options instead of day trade options.
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If the method is good enuf any time frame is workable.
However daytrading options is a different ball game, it's very possible a profitable method for equity will lose in options.

The strike price, time to expiry and entry is critical.
 
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Thor said:
If the method is good enuf any time frame is workable.
However daytrading options is a different ball game, it's very possible a profitable method for equity will lose in options.

The strike price, time to expiry and entry is critical.
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Do you day trade options?
 
Thor said:
If the method is good enuf any time frame is workable.
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Longer timeframes tend in general to require the trader to prepare for a larger stop-gap for any given methodical entry trigger than shorter time frames, from my perspective. a 240 min chart vs a 1m chart for example.
If you know how to negate that requirement, Let Me Know so that the LTF chart Targets become possible on a STF entry trigger.
 
Thor said:
I only trade options on 2 indices, day and swing
If I get 2 setups a day, I'm happy, often there is only 1

If your method works on equity, go DITM on options and it should work
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Thank you. Of the two, day and swing, which do you prefer?
 
KCalhoun said:
Outstanding call, you nailed it. Best call of the year. I agree, and bc of neg AMZN AAPL response I loaded up on inverses aftermarket yesterday, thrilled to see TVIX etc big gaps up today... yay #gobears
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do you stream online as you do things like this? gotta like that.
 
I am 90% daytrade only. The successful rate for being a day trader is close to 2-3%. That means 98% fail. I found my ways to make it so far. It took me a ton of hours, education, money to become where I am today. Not easy route, folks... Not easy at all. A lot of sacrifices.

Here are my basic routine daily : wake up an hour before market open... Check overall news... Check overall gap up/down... Opening my core stocks to trade. I have a basket of 5-6 stocks that I trade day in/out. They're the ones with range. My goal is just to buy call/put option expiring same week.... In same day.. In and out in minutes or hours same day. I am usually done an hour after market opens.

Here are some basic things I do...
Draw support, resistance area/line.
Decide which ones I will trade today
Watch daily /weekly chart.
Market opens.... I watch closely price action toward the support or resistance area. Watch how it behaves toward it... Once it meets my setup... I am in call or put.... Set stop... And manage profit or loss.
Close all position by an hour after I enter.. Leave a few contracts for homerun situation... Set stops.
Once I am done with daytrade and pull money in my account, I start to look for macro trend for some swing... For example I bought some Spy 250 expiring July. It's cheaper and Otm... And give me some time to adjust. Once Vix spikes and market comes down, these are going to be 200% or more return.
Rinse rise and repeat.
Everyday.
 
greeneveryday said:
I am 90% daytrade only. The successful rate for being a day trader is close to 2-3%. That means 98% fail. I found my ways to make it so far. It took me a ton of hours, education, money to become where I am today. Not easy route, folks... Not easy at all. A lot of sacrifices.

Here are my basic routine daily : wake up an hour before market open... Check overall news... Check overall gap up/down... Opening my core stocks to trade. I have a basket of 5-6 stocks that I trade day in/out. They're the ones with range. My goal is just to buy call/put option expiring same week.... In same day.. In and out in minutes or hours same day. I am usually done an hour after market opens.

Here are some basic things I do...
Draw support, resistance area/line.
Decide which ones I will trade today
Watch daily /weekly chart.
Market opens.... I watch closely price action toward the support or resistance area. Watch how it behaves toward it... Once it meets my setup... I am in call or put.... Set stop... And manage profit or loss.
Close all position by an hour after I enter.. Leave a few contracts for homerun situation... Set stops.
Once I am done with daytrade and pull money in my account, I start to look for macro trend for some swing... For example I bought some Spy 250 expiring July. It's cheaper and Otm... And give me some time to adjust. Once Vix spikes and market comes down, these are going to be 200% or more return.
Rinse rise and repeat.
Everyday.
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Classy. No long positions at all? No investment?
 
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