A refined passion. Let's share your day trading strategies that work.

Rogers said:
@Dave Taylor what I think you are doing is awesome. You are engaged with the markets and learning how and why they move. What works for you may not work for someone else and vice versa.

I think I have mentioned this to you before….understand what drives options pricing. It will help you. Particularly how volatility levels affect option pricing.

Did you read the books I recommended in one of your other threads?
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No. Didn’t read them but have read many others. One example I like is buying put and call spreads simultaneously with next day options if vix is extremely beat down at the end of the day. Just incoming volatility at the open can trigger limit sell orders on both at the open. I like odte and 1dte the most because they make the biggest moves. The closer to expiration the higher probability of big moves. IMO scalping is the safest bet if you want to grow your account. Sure, I have had some bigger winners but basically taking any green trade is a win. Don’t hold onto losers for long and if you can manage to get a stop set on the green ones even better.
 
I traded a new technique today. I did my finviz search and msft came up. I watched price action at the open and went long via next week 450 calls. I waited for it to test yesterday’s high and find support just underneath. I decided to take profit as 100% in 45 min is ok by me. I’m trading stocks that had previous day strength with volume in the most trending sectors(semi conductors).IMG_7911.jpeg
 
I missed out on about $11k today. There is risk in the markets. I had these calls and a couple 380s but bought a bit early and got shaken out. This $1200 would have been $12kish had I just held til close.IMG_7921.pngIMG_7922.pngIMG_7923.pngEnded up a $60 loss
 
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Pearl said:
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Because this is a learning post...the bot=bought, sold=sold. $3.29 is what I paid per share($329 total/100 share contract) for a Tesla $430 call option expiring tomorrow. I sold it for $5.42(+$213) in12 minutes. The NVDA trade was a smaller $22 profit in 6 minutes. The chart shows 5 min intervals but the red horizontal lines are the upper and lower end of the 5am 4 hr tala chart candle. This is the highest liquidity area during the day so I waited for the lower level to bottom and took a long(tsla 430 call). I sold at the first resistance. Had I held through the consolidation and sold at the upper candle level I could have banked $700+. Technically could have rebought at retest of $420 area again for a visit to the upper end of the liquidity area. Sometimes it's tough to do when I'm laying under an excavator removing broken studs.
 
Do you like to think about it in minutes from buy to sell? (see below)

How long did you work the lead-in?
is it stock specific, or pattern recognition? Screener?

Did your post-analysis have you selling at a good spot (within 10% of the high? 20%?) -
I see your note about holding for more, but hitting the top is a crapshoot in every scenario.

To your point, you don't want it to be gambling - which, the point of picking when to leave is critical.

Think of this as me learning from you, and how I would learn from the actions. Not critical, just curious.

Cause certainly you could simulate it, but since it is real money, it has your real thinking/hesitation/risk management involved.
 
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Patrick said:
Do you like to think about it in minutes from buy to sell? (see below)

How long did you work the lead-in?
is it stock specific, or pattern recognition? Screener?

Did your post-analysis have you selling at a good spot (within 10% of the high? 20%?) -
I see your note about holding for more, but hitting the top is a crapshoot in every scenario.

To your point, you don't want it to be gambling - which, the point of picking when to leave is critical.

Think of this as me learning from you, and how I would learn from the actions. Not critical, just curious.

Cause certainly you could simulate it, but since it is real money, it has your real thinking/hesitation/risk management involved. target.
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Close at least 1/2-2/3 position within 25% of upper or lower liquidity
 
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Was annoyed by this. Bought off the golden zone but had to leave with the wife so I set too tight of a trailing stop. Went at least 300 percent in the next half hour.
 
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Dave Taylor said:
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Another 250% in an hour.
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For the record I am home on friday’s so that is my trading day. Biggest key for daytrading is establish overnight liquidity zone and weight for price to digest a top or bottom and then enter with low risk. Kicking myself as those 425c I bought earlier would be worth over $1k each at the peak. Have patience. Just like a bottom is formed i takes time to form a top. If 8 and 21ema are trending up buy calls on pullbacks to those areas. No matter what time frame you trade.
 
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