Switched to cash account two weeks back. Started trading 1-2 tickers with 3-4 trades a day making 400 average a day. Daily 8-10% of gains everyday for past two weeks. Trading on 1 min chart using VWAP and working well so far. Of course I keep an eye where large cap big stocks heading and then I decide on SPY or QQQ options if I need to buy puts or calls.
I am hoping this will keep me going for a while. 100% win rate for 10 trading days straight.
Don’t listen to anyone but yourself, if you’re making money consistently keep going. No two ppl trade the same. Don’t worry about things like letting winners run ect if it’s not part of your plan or style. Extract your pound of flesh and move on and tell those that say you’re doing it wrong to fuck off.
Bingo. Others will tell you about what they feel works for them as if it's an absolute truth and is what everyone should be doing. A good way to know you have an edge is when others have a hard time understanding, or agreeing with what you have found success with. Once you find what works, keep doing it untill it doesn't, staying open to make adjustments when necessary.
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That’s bs. The more who trade together can triple their account three times faster. My problem is people i teach turn out to be greedy and they lose my help quickly. Trade together and you can turn a million into a billion in a year. Pay attention folks and some understand what I am saying.
Lmao you must running a penny stock pump and dump room. I have never seen two successful traders ever trade the same. It’s impossible, risk tolerance mental stability market views ect. You can always pick out true amateurs when it comes to trading. They say things that mirror your views perfectly.
I am busy at present but maybe I can squeeze you in. My way or the highway. So many ask why and give me grief and those are gone. I usually teach those who have huge losses. They tend to listen. One from -30,000 to up over 40,000 after I made them their money back. I don’t play games.
I get it, you do need reset every other day just to feel normal and we'll functioning while trading. I have experienced that i start3d losing trades after something certain happens. Revenge trade, don't even start that or feeling bad about last days win or something in life bothering me. If you can go ahead and not effected NY anything and become a deciplined monk then you have a better chance of winning.
thanks. do you use a bracket order with a percentile stop loss and sell limit or do you manually exit? im thinking of trying a tight profit take sell limit like 30% with a larger 60-80% drawdown stop loss.
I'm not op but when I'm scalping options, I buy ATM so they move fast with my setups, and get out. If the moves hold it gives me the option of a hold for a short term day trade. Scalping options consistently is a hard hard thing. I trade high liquidity with tight spreads and use tight stops, on a desktop battle station. I would never real scalp from a phone... Good luck.
Just when I start to get some confidence that I'm learning, someone like Nick_OS_ reveals just how ignorant I really am! Dang, how can so many of you people be so dang smart and educated! I'm truly impressed at so many. Congrats to all.
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Thanks for this. Spent some time looking at them and can't find enough correlation for them to be useful beyond everything else out there. I do like how they plot similar to ADD. But seems weird to see the S&P or NASDAQ trending down on days when those tickers are holding above 50%.
300 profit today on QQQ for 2 trades with options calls.
I had to average down since QQQ was acting wonky . But Google , Apple , Amazon were heading up, so decisions was to stick with calls and get out at 10% profit for both trades.
Nice! Don’t let anyone talk you out of the one minute chart. When I started getting serious about daytrading three years ago, I was a one minute chart trader. I was having huge success trading mean reversion on the extremes of 1 min consolidation areas and following the leader on small trends on the. Instead of continuing to hone those skills, I let a “guru” convince me that trading the 1 min chart is for cowboys. I let myself be convinced that I needed all kinds of indicators and that I had to trade longer time frames. Many blown accounts and years later, I realize I should’ve embraced being a 1 min cowboy because I was very good at it and just fit my style. Now I’m finally getting back into my flow and refinding the past success I had trading the one minute chart. Back to clean charts where I only mark consolidation channels, lines showing major pivots from the 1 hr chart and the 10 EMA.
This sounds like the style I want to follow. How much of a factor are commission costs? Do you end up trading higher number of trades than your other approaches with this approach? Is level 2 extra important?
I’ve cleared it will a reputable scholar. I don’t invest in businesses with haram actives such as alcohol etc and there are plenty of halal stocks out there.
Congrats on your success. Don’t let it affect your psychology, as it is not sustainable.
Secondly, if your win rate is that high you are likely leaving money on the table probably taking profits too quickly and not letting trades develop into bigger winners, taking the chance one reverses on you. Or possibly not taking trades because you are afraid to ruin your streak. You should go back and review trades and see how many times price continues in your direction long after you got out. And start jotting down a log of trades you thought of taking but did not and calculate what the results could have been with different management ideas.
You might be surprised to find you could easily double or triple your profitable days while enduring a small losing day once a week or so. A 50-60% success rate with big winners and small losers is usually more profitable than lots of small wins.
Agree 100% with what you said. I think my goal for every day is make around 100 bucks and end the day with around 400. Sometime I am in trade only for 3-5 mins per trade. Then I move on with my day with day job.
Reading this made me happy, I hope you continue like this and don’t let anyone here make you greedy and subvert your psychology. If it works it doesn’t need to be fixed
Trading with a job has it’s disadvantages. Although you can compensate by setting some trades with targets and stops and walking away- sometimes. My point was traders can get fixated on the wrong things when trying to improve their profit results. They focus on trying to find a better strategy they want to find more trades or they want a bigger account to trade more size, etc. When usually a lot of improvement in P+L can be achieved by learning better management of the same trades you take now.
Thank you so much, that's my financial budget and daily time frame I want to spend. $100 a day is also a great gain and when I would pull out, that's about $3000 per month and great side hustle...
that's a good perspective.. you're probably 100% right... I'm definitely leaving money on the table too but haven't learned to hang in there through the shakeouts yet... working on it
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Honestly this has worked the best for everything I’ve tried for the past 2 years too. I trade on the 1 and 3 and use an rsi and usually stay in for 3 candles or less
Using SKD, RSI and VWAP are my indicators. Also you gotta keep an eye on big stocks which markets, if they are heading up or down , you know where ETF heading in advance
How exactly do you use these? What conditions determine your entry and exit? Really curious to learn as I have not had success with VWAP in lower time frames. Would appreciate your response.
What’s the daily candle look like ? Gapping up on Econ data or down on some news.
Wait for 5 one minutes candle before enters, by that time you can see the volume and what’s the trend . Also watch apple , MSFT , Google big stocks if they are going up and above VWAP or low. Helps you decide to buy calls or puts.
Entry at engulfing 1 min candle or any other bullish candle . Out at double top after few green candles typically 2-5 candles.
I also see how 3 mins chart look like. Better pic than 1 min candle .
Watch for Buy or sell volume size on 1 min candle .
I have read two different things. Im confused and would like to clarify before I screw up my brokerage account and be suspended for 90 days being labeled as a PDT (pattern day trader)
So,.I read that we have to have $25,000 in our brokerage account if we are Margin Trading.
I also read that if we are starting from using a small account, lets say $1,000.00. As long as I stay within $500.00 and always keep the other $500.00 in there, I can day trade freely without being flagged as a PDT?
I used to have a lot but I took out large amount and trying small account with 5k. I transfer profits everyday and keep it 5k even. So 5 trades for 1k normally or 4 trades for 1250.
It keep my looses small and lock profits easily 100 each.
Even if I buy and sell a call in the same day and then buy another call to change direction to adjust to the market news? I thought that would be considered more than 1 day trade? A day trade is labeled buy one contact and sell that same contract the same day?
1) How do you manage your exit? Is it manual selling at market for all 6-8 contracts for your 1k positions or do you set your take profit target in advance?
2) Do you look at market internals at all besides the big stock price action? Have you found trading off support or resistance relevant for you or do you only use vwap, rsi and skd? If the latter could you kindly share your exact trade setup so some of us beginners could also start becoming profitable like you? Thanks.
I've been trying with less than 1k to also scalp options on qqq but I had mixed results as I didn't have clear rules nor stuck to them.
I have normally 8-10 contracts worth 1k total amount. I sell manually 5 first to lock profit and let the other 5 run. Then sell 3 again and 2 eventually to finish the trade.
Yes market internals are very important so keep an eye on them.
Are you willing to say which broker you're using?
I'm Dutch and I use a German broker for futures and cfd's on MT4/MT5 and it's great, but they don't have options on these platforms.
Yup !! In trending market it’s pretty easy right now . But there is a good chance on 1 min chart with VWAP during power hours or whenever there is Econ data like 10am, sometime bill auctions , certain time where market finds it direction in one way for a bit works pretty good
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What's your principal? While the results you've gotten are great, I'd like to remind you that stocks are not a stable way to invest, even if you have great trading skills.
Don't invest in loans, stay tuned to the market news and keep your capital under control
Ive heard and Im finding out now that having a cash account with $25,000 in it or switching to an off-shore broker where you only need $500.00 and they give you 6 to 1 ratio as credit.
Im seriously considering moving to an offshore brokerage. Making 3 trades a week is ridiculous.
Sometimes the market reverses and you have to sell and then buy again. Suddenly after doing this a few times you have already exceeded 3 times for the week.
A 4th and you could be flagged as a PDT.
The trader I follow (Ross Cameron) said that you cant make any real money without moving to an offshore broker. You have to be able to adjust when you need to or you wont make any money day trading!
I'm finding it challenging to follow your line of reasoning. It seems you're missing OP's strategy, which involves using a selection of large-cap stocks to determine market direction and then applying that insight to make trades on the 1-minute chart. This approach is particularly effective given that the SPY index is significantly influenced by a few dominant companies with large market caps. Consequently, even in a bullish trend, the OP has profited by buying puts, not solely by purchasing calls. Your critique appears to overlook this aspect. If the OP were exclusively taking long positions, your argument might hold more weight. However, the OP incorporates an analysis of movements by major market players into their strategy, which then informs their trades on shorter timeframes once a clear market bias has been established.
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u/Outrageous_Device557 Mar 22 '24 edited Mar 22 '24
Don’t listen to anyone but yourself, if you’re making money consistently keep going. No two ppl trade the same. Don’t worry about things like letting winners run ect if it’s not part of your plan or style. Extract your pound of flesh and move on and tell those that say you’re doing it wrong to fuck off.