My Daytrading Method

[bgp]

thanks jimmy

 

[cnms2]

I avoid buying straight out-the-money options. They offer little room for forecasting error. Especially with non-trending underlyings (like indices on daily charts), directional plays with otm options have a lower probability of success. Currently I am also bearish on SPY / SPX, but I'd prefer to buy the 133 or the 134 puts. Their implied volatility is also better, 10.4 and 10.7% vs. 12.4% due to the "IV smile" (1 year IV range: 9 .. 15%, 3 month IV: 9.5 .. 12.5%).

Quote from eminitrader007:

...
Looking into options too. Bought May 128 SPY puts @ .50. Maybe futures is just not for me so looking at other trading vehicles.

Thanks for your encouragement.

 

[eminitrader007]

Paper-trading a new srategy:

Sold ES at 1321.50
Stop: 1325.50

 

[eminitrader007]

Quote from eminitrader007:

Paper-trading a new srategy:

Sold ES at 1321.50
Stop: 1325.50

Still Short.

 

[eminitrader007]

Quote from eminitrader007:

Paper-trading a new srategy:

Sold ES at 1321.50
Stop: 1325.50

Still Short.

 

[1000]

http://www.kenroberts.com/

 

[cnms2]

I suggest reading Grob109 and Scientist's posts about SCT on this thread . You might get something to use for your trading method.

 

[eminitrader007]

Quote from eminitrader007:


Sold ES at 1321.50
Stop: 1325.50

Staying Short here. Maybe I need to start another journal with my non-daytrading market plays.

 

[K-Rock]

Starting a new journal explaining your swing trading system would be easier to follow.

 

[eminitrader007]

Quote from eminitrader007:



Sold ES at 1321.50
Stop: 1325.50

add another short.

sell-limit: 1316
Stop: 1321

Not sure if the market will go there but a bounce would be nice.