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re: Any day traders out there?
Posted on 1/31/23 at 8:39 pm to Jag_Warrior
Posted on 1/31/23 at 8:39 pm to Jag_Warrior
quote:
I’ve observed the futures markets (from afar ) for over 30 years. But I haven’t studied the various markets and strategies enough to feel comfortable dipping a toe in the water yet.
you will love it. Can you read technical charts? if so u can trade futures. best book to help you is TRADING BY THE BOOK by Joe Ross. can make money going long then shorting the same damn contract once the formation reverses with a top.
2
Posted on 1/31/23 at 9:13 pm to Fat Bastard
Yep. If I'm putting on a directional position instead of delta neutral, I use charts as a supplement to the Greeks when I trade options (most of what I do these days). I’ll check that out. Thanks. 
Posted on 1/31/23 at 9:16 pm to Jag_Warrior
sure. i mean heck you like options. You can do that as well!
Posted on 1/31/23 at 11:37 pm to Fat Bastard
Funny that you mentioned the Joe Ross book. It was mentioned at the Vegas investor conference I went to last year. The guy sitting beside me at one session was into futures trading.
Say, do you remember the name Ira Epstein? Back in the Financial News Network days (pre CNBC - when Sue Herrera was still a slender hottie
), he advertised his futures trading firm on there. That’s when I got interested in futures, but never really pursued it.
Say, do you remember the name Ira Epstein? Back in the Financial News Network days (pre CNBC - when Sue Herrera was still a slender hottie
), he advertised his futures trading firm on there. That’s when I got interested in futures, but never really pursued it. Posted on 2/1/23 at 8:02 am to Jag_Warrior
quote:
The guy sitting beside me at one session was into futures trading.
it is a big thick book. it will teach you multiple ways to make $$ trading. it is expensive. amazon is selling it for 199.00. but worth it. i think I bought mine for 100. you can implement his strategies and make your own systems. I have taken courses and attended seminars also on trading which helped me greatly.
quote:
do you remember the name Ira Epstein?
can't say i do.
Posted on 2/1/23 at 8:44 am to Fat Bastard
quote:
sure. i mean heck you like options. You can do that as well!
This. I daytrade options.
Posted on 2/1/23 at 9:27 am to LSUAngelHere1
quote:Are you trading the fed announcement?
This. I daytrade options.
Posted on 2/6/23 at 11:45 am to Goldrush25
quote:
Want to get into futures eventually.
If you're interested in trading futures....watch futurestrader71's youtube videos. He does one every morning.
quote:
I'm trying to reprogram my mind to not think of losing days as "bad." Losing days are built in and aren't good or bad, they just are a cost of doing business.
I'm a full time daytrader. Been doing it every day for a few years and losing days are a regular thing for me. I just review what I did wrong and try to learn from it. It's a normal part of being a trader.
Posted on 2/6/23 at 11:53 am to Jag_Warrior
quote:
if you have a real interest and passion for trading, spend your time learning legitimate trading strategies that are backtested and proven… and that include inherent risk management.
Yep....great place to start and remember what works and what doesn't. Over time...you will develop your own strategy.
Posted on 2/6/23 at 7:34 pm to Tigers4life
Gotta say, I like the intraday swings on QQQ options 1-2 weeks out.
Opportunities are out there.
Opportunities are out there.
Posted on 3/21/23 at 1:45 pm to Order88
Well guys after being down over 45% and 3 months later here we are again. QNCX came out of the depths, and I was able sell my shares for about 5% loss. Needless to say the strategy of buying the top gapper at 9am and hoping for a 1-2% gain is not a very good strategy at least not in this market. I will not be doing another trade without a stop loss, bag holding sucks.
Posted on 3/21/23 at 4:19 pm to Order88
quote:You should try day trading options only.
Order88
If the trade goes against you, average down once.
The key to this is using a 25 delta call or put and giving yourself at least 1-2 days before expiration. Look for high volatility, but not too high. There are screeners for IV rankings.
Obviously, 1-2 weeks up to a month will give you more room for error.
Trade QQQ, SPY, or any company with a lot of options volume/tight bid ask range.
Neither individual stocks nor the market as a whole often goes straight up or down. Trade for intraday corrections.
MOST IMPORTANTLY: Don’t get greedy.
Lots of people shoot for 200-400% on these lottery ticket types of trades.
Instead, be happy with 15 percent, especially if you get it in just a few minutes. If your goal is 10-20% instead of 200%, you remove a lot of risk.
If the trade goes against you, and you have weeks until expiration, average down, and be patient.
LASTLY: Limit these individual trades to 5% of your portfolio at maximum. Once you make your 10-15% enjoy it, and just watch for the rest of the day. Reset, and try for more the next day.
PS: Don’t trade fed decisions like we’ll see tomorrow at 1:00. The markets often do rip up or plummet straight down directly after. It’s either a big loser or a 2x plus. You could get stuck if you are near expiry.
This post was edited on 3/21/23 at 5:15 pm
Posted on 3/21/23 at 5:06 pm to Order88
I’m not sure what to say. 
Almost two months ago, I told you this:
In addition to many other options strategies, I trade 0DTE and 1DTE SPX options. But I use risk controls. When I trade naked options in a multi-leg strategy, I take risk into account. When I’m in my car at the track going 170 down a straight, I take risk into account when I’m deciding where to brake. So being new to trading, why did you elect to keep trying something that every sane person in this thread told you was three shades of foolish? You obviously didn’t take the advice to backtest this goofy (so called) strategy either, did you?
It’s your time and money, and I really do mean this in the nicest way I can muster, but… ya know?!
Almost two months ago, I told you this: quote:
I was talking about this so called “strategy” that fellow came up with. I know more than a few very successful day traders in stocks and options. But not a single one of them would trade without risk controls or being ego driven and refusing to take a loss.
In addition to many other options strategies, I trade 0DTE and 1DTE SPX options. But I use risk controls. When I trade naked options in a multi-leg strategy, I take risk into account. When I’m in my car at the track going 170 down a straight, I take risk into account when I’m deciding where to brake. So being new to trading, why did you elect to keep trying something that every sane person in this thread told you was three shades of foolish? You obviously didn’t take the advice to backtest this goofy (so called) strategy either, did you?
It’s your time and money, and I really do mean this in the nicest way I can muster, but… ya know?!
Posted on 3/21/23 at 7:34 pm to bayoubengals88
Thank you for the advice, I’ve traded options in the past a know the risks will check it out.
Posted on 3/22/23 at 11:55 am to Order88
I took some time out of the market. Was dealing with some legal issues.
But restarted on 2/27 this year. I missed one day trade. I don't always buy the top gainer anymore, nor do I always trade at 0800. Idk how to post pictures of my trades but I can make a list of the stocks I've successfully day traded since 2/27.
LXEH- Traded it 4x between $1 and $1.02.
Made $4400
But restarted on 2/27 this year. I missed one day trade. I don't always buy the top gainer anymore, nor do I always trade at 0800. Idk how to post pictures of my trades but I can make a list of the stocks I've successfully day traded since 2/27.
LXEH- Traded it 4x between $1 and $1.02.
Made $4400
This post was edited on 3/22/23 at 12:22 pm
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