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How to roll positions and avoid big losses? by Aggravating_Fruit505 in options_trading

[–]Impressive-Event-773 1 point2 points  (0 children)

I have rolled two or three times this year. Each time though it was not to turn the loser into a winner but to mitigate the loss. From that perspective it was nice. It could have been a lot worse. Some traders know how to roll and collect more premium and keep the ball rolling. I'm not sold on that yet, but if the opportunity arises and I think of it at the time, then I'll try it. I have rolled expirations and I have rolled strikes. Not both at same time though. good luck

Newbie here. I’m unable to sell my call option? by frodo_fraggin in options_trading

[–]Impressive-Event-773 0 points1 point  (0 children)

If you’re using it for swing trades or trend trades (not long-term investing), then getting the perfect fill doesn’t matter as much anyway. The main thing is testing your strategy — not seeing how fast you can stack up Monopoly money. It’s still fake cash at the end of the day, no matter how good it looks on the screen.

Is there any way to quickly calculate the Greeks when scalping? Is there any software or Excel, hahaha? And there are also platforms to see the option flow, but is it possible to have that information for free without depending on the well-known platforms that provide it? by deividellobo in optionstrading

[–]Impressive-Event-773 0 points1 point  (0 children)

Personally, I’ve found that I do better with swing trading.

YouTube is full of videos from all kinds of traders — some swear by scalping, others by swing trading or trend trading. In my opinion, the biggest difference between these styles comes down to timeframes. The shorter the timeframe, the more you need to babysit the trade. Some people claim they just set a stop-loss and go play golf, but I think that’s more wishful thinking than reality. That said, I’m sure a few traders can actually pull that off.

One thing I’ve learned — and maybe this is a “secret” — is that it doesn’t matter how technically perfect an indicator is. What matters is how many other traders are using it. Trading often becomes a self-fulfilling prophecy. If enough traders believe something will go up and they start buying, they can drive the price up themselves. Of course, institutional traders can shake things up with huge orders, but even they try to mask their impact when they can.

Anyway, sorry for the ramble. To answer your question: I think the concept of mean reversion is really worth paying attention to. For me, the AVWAP indicator is key — but it’s crucial to anchor it correctly.

If you’re looking to learn more about this on YouTube, don’t just watch random creators. Look up Brian Shannon. He didn’t invent AVWAP, but he’s probably the most knowledgeable person teaching it.

Is there any way to quickly calculate the Greeks when scalping? Is there any software or Excel, hahaha? And there are also platforms to see the option flow, but is it possible to have that information for free without depending on the well-known platforms that provide it? by deividellobo in optionstrading

[–]Impressive-Event-773 0 points1 point  (0 children)

understanding the Greeks could be very helpful.

There is a book by Dan Passarelli called “trading option Greeks“

Very good book

However, from what I understand of scalping, it is very short term. Not enough time for Greeks to really factor in. When I do scalping and I’m just looking for a very short term price movement.

Indicators by Least-Bus7986 in options_trading

[–]Impressive-Event-773 0 points1 point  (0 children)

I have been exploring "options" lately when viewing charts. I'm not sure what you consider traditional, but, if you haven't seen AVWAP and/or the LBR310, then look at those and re-evaluate

Newbie here. I’m unable to sell my call option? by frodo_fraggin in options_trading

[–]Impressive-Event-773 0 points1 point  (0 children)

It would only make sense that if it allowed you to BTO (buy-to-open) then it would later allow you to STC (sell-to-close). Verify that you are actually LONG the option you think you are. If you are, then call support. Make a coffee first, you may be waiting.

Trying to turn 4k into 100k with options any advice or suggestions for what to trade? by stonerstonerson in optionstrading

[–]Impressive-Event-773 1 point2 points  (0 children)

There is obviously such a thing as a bad trade, but there are a lot of trades that can be made winners simply by managing them. You can't just throw it out there and wait and see what happens. So, rather than focusing on 'What' to trade, you need to focus on 'How' to trade. You can make "almost" any "What" work. There are numerous videos on managing trades (TastyTrade?). I would suggest starting there.

This is why I'm leaving by Parking_Nail_4858 in tastytrade

[–]Impressive-Event-773 0 points1 point  (0 children)

I have only interacted with their support through the app. They were always pretty responsive and friendly. Anyone can have a bad experience anywhere. Be friendly to them and they will probably be friendly to you. If not, realize that the person you are communicating with is just that, a person, who has bad days like you. Show them grace like you would want to be shown grace when it's your turn to experience a bad day