My Daytrading Plan
- Thread starter Quanto
- Start date
Wrong, before expiry it's even more worth than at expiry, due to time value on top of the instrinsic value (ITM).
You said *I haven t mentioned any delta at all*
But, is it not indirect embedded into your false basic premise, with your perfect Hedge and no stop at start at the thread. *If the put options should follow the stock cent by cent* Options would have static delta, and that is not tue.
Trading would be to easy, if you were right
But, I wish you all the best and success
But, is it not indirect embedded into your false basic premise, with your perfect Hedge and no stop at start at the thread. *If the put options should follow the stock cent by cent* Options would have static delta, and that is not tue.
Trading would be to easy, if you were right
But, I wish you all the best and success
And everyone lives the lifestyle they want, happily ever after!
Extremely incomplete plan. And now lost into the weeds on option protection, for scalping day trading no less.
I suggest you actually try to implement the plan for 1 week on paper. You will find that only 1/40 of the details are addressed. Even when you fill in the rest, there is no actual way to verify much of anything like MAE tolerances etc. This is an important part.
One thing, is % targets tend to be less productive than market action. Simply because market action is current to the time of day, more dynamic, and higher probability than a fixed percent through all conditions.
I suggest you actually try to implement the plan for 1 week on paper. You will find that only 1/40 of the details are addressed. Even when you fill in the rest, there is no actual way to verify much of anything like MAE tolerances etc. This is an important part.
One thing, is % targets tend to be less productive than market action. Simply because market action is current to the time of day, more dynamic, and higher probability than a fixed percent through all conditions.
You said in the post with your demo setup https//optioncreator *I futter analysed it/ even if the stock falls any percent ! it really doesn t matter*
Then the risk free rate a 0% and european style options.
But, buy as many options as you like, while scalping cheap stock.
If it works for you, then perfect. I really hope it does. It must work, because you say so.
I wish you all the success you need
Then the risk free rate a 0% and european style options.
But, buy as many options as you like, while scalping cheap stock.
If it works for you, then perfect. I really hope it does. It must work, because you say so.
I wish you all the success you need
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I think it's good to concentrate on just one stock because you can really get to know how it behaves. But, this might mean you miss out on other chances to make money. Maybe think about having a few different stocks to choose from.
Hi Quanto - i no longer use a only one stock / one ETF approach, but when i did i always traded 2 ETFs, trading either TQQQ / SQQQ combo or the SOXL / SOXS combo. That way you can always go long and always be trading with the direction of the trend as seen here.
https://gyazo.com/d4862ed319527e33af877e11cf79053c
https://gyazo.com/d4862ed319527e33af877e11cf79053c
I put in my time for months scalping only AMZN and also GOOGL with 1 share and then 10 shares. The problem for me was finding myself getting into a loop.. where I would take a bad trade and then find myself spending the rest of the day getting green by having to overtrade.
I'm still affected by this compulsion, I know it is easy to work out of a loss eventually but the real opportunities are in other stocks that are in play. I like to use the big caps with a lot of liquidity and volume, so eventually it is possible most of the time to come out even or at a small profit.
Hell is doing 200 round trip scalps.. everytime I get close to green I end up with taking that bad trade that puts me back to the loss figure I just worked out of...
I journal every trade, I write down the p/l figure at the end of the trade and that goes into a spreadsheet at the end of the day that calculates all the p/l of each trade, which then gets calculated by the spreadsheet of number of losing trades to the winning trades and the totals at the end of the day for each and what my average is for winning trades vs losing trades.
I have a 3 to 1 or 2.5 to 1 win/loss ratio and my winning average is slightly higher than my losing average now.. But breaking through all this was very hard going.
The loop ordeal is a miserable way to have to put in a day, the only good side to it is that it gives reps and forces me to play more aggressively, which I wouldn't want to do normally, but it shows me to take these trades which kind of builds in memory reps of what works and what doesn't.
Anyone with any insight, please give advice as I too am trying to get my firm footing here with doing the start small and learning.
I'm trying to only choose the best setups now, with those stocks that are moving cleanly and in play and I've taken the leap to trade other stocks than AMZN and GOOGL all the time. Apple is a killer to scalp... INTL acts like it is psychotic and don't ask about DTJ... that one set me back in my p/l balances big time..
I have this compulsion to try to use the Hull MA to take a trade with its signal and hold for the whole move when it is showing a strong trend. It works on occassion for good return but when it doesn't you get it handed back big time.. So trying to use that with much more discretion.
I'm also trying to use Bollinger Bands with my trading, but I'm pretty good at putting in support resistance lines and use the 15 min & 5 to help with drawing them but I trade on a 1 minute.
I'm still affected by this compulsion, I know it is easy to work out of a loss eventually but the real opportunities are in other stocks that are in play. I like to use the big caps with a lot of liquidity and volume, so eventually it is possible most of the time to come out even or at a small profit.
Hell is doing 200 round trip scalps.. everytime I get close to green I end up with taking that bad trade that puts me back to the loss figure I just worked out of...
I journal every trade, I write down the p/l figure at the end of the trade and that goes into a spreadsheet at the end of the day that calculates all the p/l of each trade, which then gets calculated by the spreadsheet of number of losing trades to the winning trades and the totals at the end of the day for each and what my average is for winning trades vs losing trades.
I have a 3 to 1 or 2.5 to 1 win/loss ratio and my winning average is slightly higher than my losing average now.. But breaking through all this was very hard going.
The loop ordeal is a miserable way to have to put in a day, the only good side to it is that it gives reps and forces me to play more aggressively, which I wouldn't want to do normally, but it shows me to take these trades which kind of builds in memory reps of what works and what doesn't.
Anyone with any insight, please give advice as I too am trying to get my firm footing here with doing the start small and learning.
I'm trying to only choose the best setups now, with those stocks that are moving cleanly and in play and I've taken the leap to trade other stocks than AMZN and GOOGL all the time. Apple is a killer to scalp... INTL acts like it is psychotic and don't ask about DTJ... that one set me back in my p/l balances big time..
I have this compulsion to try to use the Hull MA to take a trade with its signal and hold for the whole move when it is showing a strong trend. It works on occassion for good return but when it doesn't you get it handed back big time.. So trying to use that with much more discretion.
I'm also trying to use Bollinger Bands with my trading, but I'm pretty good at putting in support resistance lines and use the 15 min & 5 to help with drawing them but I trade on a 1 minute.
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