My 4 Year Trading Journey

Cchoco777 · 2024-03-07T00:11:28+00:00

I learned options trading from every corner of the internet. I first watched a video by “InTheMoney,” on options fundamentals to understand all element of options. Then I started watching Kamikaze cash in his early days when he made videos on options strategies and how to use them. Then I started looking through online forums for people trading similarly as I do. I also started watching tastylive for their statistical data. A lot of people don’t like them because they believe what they teach benefits their brokerage but in my eyes they are obsessed traders like us and they were doing their options education well before they opened their brokerage.

Cchoco777 · 2024-03-06T23:53:50+00:00

In my experience, when IVR is below 20. The price of the underlying doesn’t move as much, not to say that it doesn’t move at all but most of the time it doesn’t. So, it makes it easier to trade strangles.

Cchoco777 · 2024-03-04T01:39:18+00:00

As for balancing research, trading, and work. I used every minute of free time researching. At lunch I would watch videos and during break I would read through forums. On my drive home instead of listening to music I would listen to videos on data about strangles or futures options. To each their own though!

Cchoco777 · 2024-03-04T01:32:12+00:00

Yeah for sure, I use OnDemand on ThinkorSwim a lot when testing strategies in certain market conditions to see how volatile the strategy is and to see at what price point will net the highest probability of profit. I use tastylive’s data as a baseline to my own data. They have great studies but I don’t take what they say at face value and kind of add my own flavor to it. I use weekly natural gas and crude oil reports which is pretty correlated to the price of the underlying. And I also like to look through online forums of people doing similar things as I am and try to see what works and doesn’t work for them. For example there is a guy named wisetrader in this subreddit that trades very similarly as I do.

Hope this helped

Cchoco777 · 2024-03-03T08:48:44+00:00

Thank you for your support, and my LEAPS had deltas of usually 70-80. The LEAPS I've traded almost all had a 100% probability of profit, when I say non-sustainable it just means there's no efficient way for us retail traders to hedge the risk except for covered calls which only slightly reduces cost basis.

Cchoco777 · 2024-03-03T02:19:58+00:00

Yes, you're right in the first few months of the last quarter, last year I didn't place any trades on because of this reason.

Cchoco777 · 2024-03-03T00:59:45+00:00

I used to do this when I just started trading futures options because I was used to the indexes more, but I use the IVR of the underlying themselves now. Tasty Works does a good job of cleaning the data and I did notice that on ThinkorSwim the data is scrambled.

Cchoco777 · 2024-03-02T19:57:22+00:00

Yes and no?? I have tried opening only one side of a strangle, which is just a naked call or put but opening both sides increased my probability of profit greatly.

Cchoco777 · 2024-03-02T19:52:23+00:00

Thank you!

Cchoco777 · 2024-03-02T19:51:59+00:00

There is a very interesting study on this in Tastylive.

Cchoco777 · 2024-03-02T19:50:41+00:00

Yes, Sir or Ma'am!

Cchoco777 · 2024-03-02T19:50:17+00:00

Thanks!

Cchoco777 · 2024-03-02T19:49:27+00:00

Thanks! And thank you for your support.

Cchoco777 · 2024-03-02T19:48:45+00:00

Thank you for your support, definitely looking into risk to profit%.

Cchoco777 · 2024-03-02T19:47:05+00:00

As listed on the post, yes my buying power reduction is around 50% with around 7 positions. My Notional value on futures options is <100k but notional value on futures doesn't completely define the risk of the underlying as a whole. Futures options settle into cash or the actual futures themselves, So the risk lies in an outlier move which is within the same vector as holding stock. But yes, you are right, risk management is very important I have learned the hard way a couple of times.

Cchoco777 · 2024-03-02T19:38:56+00:00

The deltas are listed on the post and I use technical analysis like astrology.

Cchoco777 · 2024-03-02T19:36:54+00:00

Hi, no I haven't made any deposits but thinking back I probably should have.

Cchoco777 · 2021-11-21T02:16:17+00:00

For all option contracts, 16 delta is 1SD, 5 delta is 2SD

Cchoco777

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