I have a question I'm a new trader. Btw Congratulations on your monthly, but how do you know when it's going up or down? I scalp options as well. Do you have a method as soon as you get up before determining trades and how confident are you in most of your trades???
Here are my scalp trades with $GME puts last Friday near the market close
https://preview.redd.it/5qqxr0x3dmyc1.jpeg?width=1640&format=pjpg&auto=webp&s=90f76c10de9c01db268e601519ece1ea4f562eb4
Here are my put scalps on $DJT this Thursday 🎯
https://preview.redd.it/geij8nx2pjzc1.jpeg?width=1640&format=pjpg&auto=webp&s=8085e3bd511b40c638849e67388d8faa26f257ce
I have created around 50 watchlists like this over the years. Everyday before the market open and during the trading session, I edit my "Stocks in Play" (which always has SPY, VIX, TSLA, AAPL, and lately AMD though) and "Hot Plays" watchlists.
https://preview.redd.it/nuuavsmylqyc1.jpeg?width=861&format=pjpg&auto=webp&s=8ecf069705dd9f626fbb19c24fdd1895cc130b4a
Oh wow, that’s so nice! But how do you know which one is “on play”. I trade TSLA everyday, but I don’t know how to “select a high probability setup” for day trading
I continuously scan through my other watchlists and Webull's Top Gainers / Top Losers watchlists. I then add the ones I find interesting to "Hot Plays" (usually for multi-days runners or dumpers, trending or hyped stocks etc.) and "Potential Options Plays" (usually for stocks that were hot a few days ago, but are currently in consolidation or cooling off stage).
My "Stocks in Play" watchlist is pretty much fixed — I just add additional tickers from other watchlists when I am trading those and remove those once I am done trading so that I don't get frustrated for exiting early and getting distracted by woulda-coulda-shoulda.
https://preview.redd.it/xnyoyyfenqyc1.jpeg?width=1170&format=pjpg&auto=webp&s=35318e06fd29c046458b11ae51563c76da9f073f
I just use VWAP for deciding whether to trade calls and puts. If a stock shoots up way above the VWAP (trading above the VWAP in a somewhat parallel manner is fine though), I scalp puts for a pullback and vice-versa.
Congrats. With regards to scalping, do you ever feel for the profits you leave on the table after you exit a scalp?? If so, how do you handle it? I do a decent job with 1:1 scalps and also a good job in cutting trades that dont work. Sometimes i feel i could ve done better if i had just let my trade run 2-3 more candles.
I don't feel bad for not holding longer anymore — I have been scalping options for more than 3 years now.
However, one thing I struggle with is not psychologically being able to trade along strong trends. I try to scalp puts for the brief pullbacks. It works most of the time, but sometimes I get burnt badly (this happened to me with $CGC puts 3 times in last 2 months). If I had rather bought calls during the pullbacks and rode along, I would have made so much money.
Haha are you me. I have a hard time riding trends too. Even if i get in along the direction of the trend before a break to downside, once price hit my usual target ranges i find it hard to stay in. Trying to catch a pullback scalp in a strong trend is my crutch too. Been giving back gains doing that.
Don't do that to yourself. For every trade you exit a bit too early, there's a trade that you stayed a bit too late. Ive had plenty of trades where a few minutes either way could have change profits to losses or vice versa.
Congrats, hopefully the consistency will continue!!
🤞
I have a question I'm a new trader. Btw Congratulations on your monthly, but how do you know when it's going up or down? I scalp options as well. Do you have a method as soon as you get up before determining trades and how confident are you in most of your trades???
Congrats! Discipline and Patience are keys for successful day trading.
🙏
nice!
Nice
Here is my [March 2024 recap](https://www.reddit.com/r/Daytrading/s/jXoXnpmYM0)
What took is this? If you don't mind me asking?
"Took"? Did you mean "tool" or app? I created this using Apple's "Numbers" app.
Oh ya that's what I meant lol. Thanks!
> Also, I had a great day with $LULU calls this Tuesday . . . I meant to write "**$LLY calls**" 🤦♂️
26k margin? So then a 200,- win is nothing right? I mean watch out for big losses
What is the share size you typically use? What broker are you using?
I scalp options. I typically enter a position with 5-10 contracts. I use Webull for trading.
Could you share a chart screenshot of one of the green trades you had? Just want to understand your entry and exit criterias
Here are my scalp trades with $GME puts last Friday near the market close https://preview.redd.it/5qqxr0x3dmyc1.jpeg?width=1640&format=pjpg&auto=webp&s=90f76c10de9c01db268e601519ece1ea4f562eb4
Here are my put scalps on $DJT this Thursday 🎯 https://preview.redd.it/geij8nx2pjzc1.jpeg?width=1640&format=pjpg&auto=webp&s=8085e3bd511b40c638849e67388d8faa26f257ce
Hi, how do you choose which ticker (stock) to trade before market opens? Thanks 😊
I have created around 50 watchlists like this over the years. Everyday before the market open and during the trading session, I edit my "Stocks in Play" (which always has SPY, VIX, TSLA, AAPL, and lately AMD though) and "Hot Plays" watchlists. https://preview.redd.it/nuuavsmylqyc1.jpeg?width=861&format=pjpg&auto=webp&s=8ecf069705dd9f626fbb19c24fdd1895cc130b4a
Oh wow, that’s so nice! But how do you know which one is “on play”. I trade TSLA everyday, but I don’t know how to “select a high probability setup” for day trading
I continuously scan through my other watchlists and Webull's Top Gainers / Top Losers watchlists. I then add the ones I find interesting to "Hot Plays" (usually for multi-days runners or dumpers, trending or hyped stocks etc.) and "Potential Options Plays" (usually for stocks that were hot a few days ago, but are currently in consolidation or cooling off stage). My "Stocks in Play" watchlist is pretty much fixed — I just add additional tickers from other watchlists when I am trading those and remove those once I am done trading so that I don't get frustrated for exiting early and getting distracted by woulda-coulda-shoulda. https://preview.redd.it/xnyoyyfenqyc1.jpeg?width=1170&format=pjpg&auto=webp&s=35318e06fd29c046458b11ae51563c76da9f073f
Hey man! Congratulations on your wins! Could you please walk us on your strategy about playing VWAP ? Thanks!
I just use VWAP for deciding whether to trade calls and puts. If a stock shoots up way above the VWAP (trading above the VWAP in a somewhat parallel manner is fine though), I scalp puts for a pullback and vice-versa.
Interesting, do you trade 1-2-5 minute candles ? Like at the moment a candle shoots above VWAP, that's when you're buying ?
1-minute candles. I use the default VWAP indicator in Webull.
Congrats. With regards to scalping, do you ever feel for the profits you leave on the table after you exit a scalp?? If so, how do you handle it? I do a decent job with 1:1 scalps and also a good job in cutting trades that dont work. Sometimes i feel i could ve done better if i had just let my trade run 2-3 more candles.
I don't feel bad for not holding longer anymore — I have been scalping options for more than 3 years now. However, one thing I struggle with is not psychologically being able to trade along strong trends. I try to scalp puts for the brief pullbacks. It works most of the time, but sometimes I get burnt badly (this happened to me with $CGC puts 3 times in last 2 months). If I had rather bought calls during the pullbacks and rode along, I would have made so much money.
Haha are you me. I have a hard time riding trends too. Even if i get in along the direction of the trend before a break to downside, once price hit my usual target ranges i find it hard to stay in. Trying to catch a pullback scalp in a strong trend is my crutch too. Been giving back gains doing that.
Don't do that to yourself. For every trade you exit a bit too early, there's a trade that you stayed a bit too late. Ive had plenty of trades where a few minutes either way could have change profits to losses or vice versa.
You got lucky -.you don’t need to be there if you set brackets . Just enter the trade set and walk away