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$QQQ, trading it 1/18For 1/18, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 381 (entry, long), it can see 384-386 (exit) Break below 373 (entry, short), it can see 368-370 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:QQQ
by takinprofitss
$SPX chart & some thoughts about intraday options tradingnice to know where we stand, always have your levels i trade options on large & mega caps (sometimes mid caps if high reward opportunity there, like $DWAC $BROS, etc.) I had some thoughts about trading options intraday & wanted to share them with anyone who's doing it or trying to Some really basic & simple concepts changed my trading*, **my trading = options intraday trading (sometimes swinging) FOCUS ON THE RISK!!!!: The most important, mismanaging risk leads to overtrading, revenge trading & not following your trading plan on top of losing money which just sucks. Almost everyone has this problem or a problem that stems from here, it is usually the inability to overcome this issue that leads to many blowing up, stopping trading or having them stuck in a cycle of changing strategies yet to realize its all about how they manage their risk. Simple is better, so to solve this lets think about it, if options can go to zero overnight then risk would be 100% right? It's not like you cut put your 50% stop loss and they will fill you if market closed, you can be up 300% on a strike, stock gaps down and that same strike opens up down 50%, did your trailing stop get hit? No lol, intraday you have more control, to me it depends how many positions you have on and how many trades you take, I wont have more than 3 positions open usually max 4 (1 has to be other direction, hedge or doesn't move in market direction) and take on average between 5-6 trades. If you take a lot of trades & can't manage them all at same time then you should have your stop be 40-50% of premium, if you can manage it actively then consider 20-35% stop loss of premium on contract/s. As to risk, risk what you can lose 3 times intraday before you say okay im calling it a day. Say you have a 70k account and are fine with losing 900 before calling it a day. 900/3 = 300 of risk per trade. That doesn't mean size is 300, risk is 300, so if you have a 40-50% stop loss then position size is 600-750 or with a 20-35% stop loss then position size is 860-1500. You now know what you're willing to risk, amazing, now lets find what we need to make to see if that trade is worth it, having risk defined makes us MORE selective & patient in our selection of trades & set ups. A common risk to reward ratio that is sought for options trading is 1:3, so if you're risking 900 for the day (300 three times) then 900*3 = 2,700 for the day should be the goal BUT THE MAIN GOAL IS TO FINISH GREEN AND FOLLOW OUR TRADING PLAN. So per trade our target should be 300%, to see if this possible we go to my next simple & basic concept that changed my trading. Range: How many points does it move on average per day, week & month? How much have we moved or ranged today, this week, this month? Pick 2-4 names answer these 2 questions, open your google docs or sheets/excel and get lost finding this. It's very simple I don't think it needs much explanation but I will give simple exaple how you use this, say you know $ROKU moves on average 7-10 points UP intraday after it breaks out of the first 15 min candle & takes out previous day high. Well you would take it long seeking 7-10 point reward, so if we know our risk from example above is 300, and say we manage it actively so we have a 25% stop, we take a 1,500 position & using range if we know 7-10 points and we have a 1:3 risk to reward ratio then say our target is 7, 2.3 pts would be out stop loss, 1:3 risk to reward = 2.3:7 for $ROKU trade. You risk 2.3 pts to make 7pts. Simple, right? Since we risk 25% of premium on a 1:3 risk to reward ratio getting 75% return on premium would be our target BUT we're getting a 7-10 point move, it'll likely be more which is why can be a little more lazy with management of trades if we have multiple positions ( i really only like that on trend days). I trade $ROKU twice last week, I got out between 80-100% for both and dont think i got the full 7% point move (check my twitter Its in my media) Trading Plan: In most basic words, your bible. It guides you & is part of you. It may sound lame but let me know how your ability's to consistently monitor and mange your set ups & trades is going, anyone can get lucky in a bull market don't ever forget that. Luck is part of trading I admit that I am lucky it helps me stay humble and always look to improve my edge/s, sometimes the trade works because I followed my plan, sometimes the trade works because I didn't follow my plan and I got lucky or MAINLY the trade worked because I followed my plan & I was lucky. I look at trading as gambling with more potentials to give edge & a different arena to play, you don't gotta go to the casino lol, BUT unlike casion respect capital, LESS emotions (we still will have them but managinig risk HELPS ALOT). We want to be those guys who go play black jack & baccarat make the minimum possible (5-10k I think) without setting off any alarm or anything in casino because they are so calm and just plaing, then go home to come back to another casino or same casino next day. Good trading is boring, I wake up, make money or lose money, stop trading maybe after ~3hrs, go play with dog. I did a ~26% day like 4-6 weeks ago and didn't even celebrate, it should get to be normal. Trader Dante & Mark Cook on YouTube, type in their name & 'trading plan". Those 2 were the 2 most who influenced the construction & creation of my trading plan. K.I.S.S: the post is about simple concepts that changed my trading, well keeping everything simple changed my trading. I will give an example, if cant move the range and not part of my trading plan I don't touch. If can move range but not part of trading plan I trade with half or less size to experiment IF I HAVE SET UPS, IF YOU DONT FOCUS ON THAT FIRST. If can move (has range) and part of trading plan I trade it. I don't use any indicators, on my charts all you see are candlesticks, volume bars (at the bottom) + what I draw on there which is either boxes or lines. Label the lines and boxes, know the weekly and monthly high, lows, close & opens. Market is auction use auction indications, what matter more RSI or closing price? if you say RSI it might be too late... lol jk im just joking but seriously TLDR/Wrap Up: Risk is number 1, know your risk to know your reward, 1:3 risk to reward ratio good for options. The name/ticker needs to be able to move (has range) if not premium won't change, get good delta + good range = good amount of premium change aka percent return/money in your pocket Have a trading plan, no trading plan no light guiding you, its like trading with no chart or level 2 or time & sales, better betting on red or black. Keep trading as simple as you can the better YOU understand the better YOU do, it doesnt matter what the correlation vega and gamma have to do with each other if in your holding time trade intraday its never long enough to where it matters on your trade then WHO CARES!!!! unless it matters at a point, spend yout time & focus on things that matter to YOU & YOUR TRADING, time is money
SP:SPX
by takinprofitss
$TSLA, trading it 1/18For 1/18, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 1056 (entry, long), it can see 1080-1095 (exit) Break below 1012 (entry, short), it can see 975-990 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:TSLA
by takinprofitss
$UPST, trading it 1/18For 1/18, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 118 (entry, long), it can see 123-126.5 (exit) Break below 107 (entry, short), it can see 98.5-102 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:UPST
by takinprofitss
$NVDA, trading it 1/18For 1/18, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 272 (entry, long), it can see 278-281.5 (exit) Break below 261 (entry, short), it can see 251.5-255 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:NVDA
by takinprofitss
$ROKU, trading it 1/18For 1/18, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 171 (entry, long), it can see 177-181 (exit) Break below 159 (entry, short), it can see 149-153 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:ROKU
by takinprofitss
AAL Bearish inclined Naked Calls 14 Jan Expiry (Jan Track 2)Whats The Plan/Trade/Thought AAL was one of the shortlisted companies from the shortlisted sectors that did not recover after the Omicron news and the Feb Interest Rate decisions. Their prices stayed below the Omicron gap. Further more with the increasing infections rates countries are getting more cautious and this will impact the sentiment of travel I Feel I do feel good about my bearish ranging stance especially for Travel. What surprises me is that while the other travel related counters are declining. AAL on the 20 Dec just locked a positive price move. Imagine Yourself Taking The Other Side Imagine Yourself Taking The Other Side Imagine Yourself As A Neutral Observer Trade has been thought through and AAL was a shortlisted sector. Happy with it’s entry Look For New Information No new information How Do I Feel Now One day after my entry had AAL moving up while most Travel companies fell. I’m abit confused. But I think I have this feeling of anxiousness from my tough early Dec. It really was a terrible trading period. Trade specs Sold 400 Calls @ 0.22 - Strike 20 % to Strike 17% ATR % is around 97% (High) BP used 68k Max Gain: est $8.8k
NASDAQ:AALShort
by Ronin_trader
4
$ROKU, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 176 (entry, long), it can see 182-186 (exit) Break below 167 (entry, short), it can see 157-161 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:ROKU
by takinprofitss
$NVAX, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 120.5 (entry, long), it can see 126.5-130.5 (exit) Break below 110 (entry, short), it can see 100-104 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:NVAX
by takinprofitss
$SPY, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 468 (entry, long), it can see 470.5-472 (exit) Break below 462 (entry, short), it can see 458-459.5 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
AMEX:SPY
by takinprofitss
$QQQ, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 383 (entry, long), it can see 386-388 (exit) Break below 375.5 (entry, short), it can see 370.5-372.5 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:QQQ
by takinprofitss
$TSLA, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading Break over 1086 (entry, long), it can see 1110-1128 (exit) Break below 1020 (entry, short), it can see 979-995 (exit) Option Trading 101: Risk what you can lose (0.5%-5%) Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade. Consider following and checking out bio and prior posts and recaps (on twitter ), have a great one. NOT FINANCIAL ADVICE.
NASDAQ:TSLA
by takinprofitss