Today was another fun day, and an excuse to start a journal as was mentioned in my previous AMC thread. The goal here is to post occasionally and answer any questions you guys have. I'm not at risk of giving away secrets because mostly everything I trade is plenty liquid.
Trading style: I love short-dated options as a way to play my hunches in an extremely leveraged fashion. My trades can last hours or days depending on the setup and day of the week when the setup presents itself. My top 20 trades this year account for >70% of my year.
I don't make money every day, in fact only around 50% of days. But, it's the 2-5 big days that pay the bills. This means sitting at the desk for 7 hours every day, constantly looking for opportunities and adjusting positions to minimize risk, or adding to winners as they start to go.
I trade a LOT, today was 13k contracts. An extremely busy day, but there was a lot of sitting on my hands with large positions. Today required patience, but I had conviction and it paid.
As for today, I've been leaning short every day this week. With the delta variant+inflation it makes little sense for the market to be at all-time highs, and the stars lined up nicely to finally have a down day on Friday. I believe this will spill over into next week, we'll see. My main instruments today were AAPL and MSFT because they were basically the last holdouts for this bull run. AAPL cracked better than MSFT (still green on the day WTF?!). I'm holding some 280p into the close but it's not likely to pay at this point.
Trading style: I love short-dated options as a way to play my hunches in an extremely leveraged fashion. My trades can last hours or days depending on the setup and day of the week when the setup presents itself. My top 20 trades this year account for >70% of my year.
I don't make money every day, in fact only around 50% of days. But, it's the 2-5 big days that pay the bills. This means sitting at the desk for 7 hours every day, constantly looking for opportunities and adjusting positions to minimize risk, or adding to winners as they start to go.
I trade a LOT, today was 13k contracts. An extremely busy day, but there was a lot of sitting on my hands with large positions. Today required patience, but I had conviction and it paid.
As for today, I've been leaning short every day this week. With the delta variant+inflation it makes little sense for the market to be at all-time highs, and the stars lined up nicely to finally have a down day on Friday. I believe this will spill over into next week, we'll see. My main instruments today were AAPL and MSFT because they were basically the last holdouts for this bull run. AAPL cracked better than MSFT (still green on the day WTF?!). I'm holding some 280p into the close but it's not likely to pay at this point.
Its getting choppy, I cut my size down a lot. Enjoy your weekend, you deserve it!