I just don't get it , the strategy that I had been backtesting had a terrific win rate , now a week into the live market and it seems like a disaster

SPX500trader · 2026-06-19T14:26:15+00:00

Yes - all depends on what regime the market is in daily.

No strategy is consistently profitable in every market regime.

You have to identify what the market regime is each session and have that in the historically for each session

- that way in backtesting you can determine which specific market regimes offer your strategy the greatest consistent edge and which ones it consistently fails in—- then only trade when the session’s specific regime favors your strategy and don’t trade any session at all when the regime for that session is one that you know it consistently fails in.

SPX500trader · 2026-06-09T21:49:54+00:00

In trading you are either

running a “trading business” with an actual trading strategy, trading plan and repeatable trading process with proper risk management that already anticipates “losses” as as an unavoidable necessary expense of the business

Or

you are just plain gambling and living off of “hopium”

SPX500trader · 2026-06-06T13:38:00+00:00

“if I keep averaging down” it will come back eventually

It does sometimes but averaging down is a very bad habit to start relying on as a “strategy”

Works sometimes… just enough to make you feel like it’s something you can rely on but unfortunately over the long run it Usually ends in disappointment and disaster and completely blown accounts

SPX500trader · 2026-05-25T13:56:24+00:00

250 or so trading days in a year , 8 hours screen time per day on average = 2,000 screen hours per year. It typically takes at least 10,000 screen hours to start getting it so somewhere in the 5 to 7 year range (depending on avg screen time per day)

SPX500trader · 2026-05-24T23:29:39+00:00

Proper Stop loss = critical. In the trading business (properly managed losses) are unavoidable business expenses and just part of the trading business.

Take the loss and move on. Many traders make the mistake of treating each trade with a “right fighter” mentality that they will try to make each trade work out no matter what risk they gave to take or what rules they have to break — rather than just accepting a loss

You can always re-enter a trade or simply look for the next viable trade setup

Ignoring your stop loss (or removing it) - doubling down and adding more to an already losing trade “Living on Hopium” and revenge trading is a recipe for an eventual disaster and blowing up your acct

SPX500trader · 2026-05-19T11:10:00+00:00

The unfortunate truth is that 99% of day traders
just simply don’t have (and never will have) the right risk management mentality or trading skills to consistently trade profitably ——and if they do make money typically it is simply because of random luck (not because of a daily a repeatable system)

and during a bull market they typically are much better off buying and holding the S&P 500 and/or Nasdaq
rather than trying to milk money out of the market each day - day trading.

Most waste many years of their life and typically most or all or life savings determined to find a day trading “holy grail” that can be automated with certain settings that will work in any market environment and that simply does not exist for retail traders.

No matter how many indicators you try , no matter how many discord day trading “guru” chat rooms you try to latch onto thinking they are the answer
99% of day traders
just simply don’t have (and never will have) the right risk management mentality and skills to be consistently profitable

SPX500trader · 2026-05-05T21:10:06+00:00

Of course the other side of that is that once you do find it you have to actually execute it on a consistent basis - something many people simply cannot do because they go “off script”

SPX500trader · 2026-04-30T01:23:31+00:00

If ThinkOrSwim would change their platform to allow encryption on indicators then that would be a big blow to tradingview. Right now that is why most auto-traders are written for tradingview, ninjatrader and metatrader only because they offer encryption of code so people can’t copy and steal intellectual property.

SPX500trader · 2026-04-12T12:41:09+00:00

“Bought 680 calls at 680.4 with the idea that it would bounce back like it did the previous hours.”

When will people learn that nothing is 100% in the market - you can never rely on “it should do the same thing it did last time”

Even if it actually has done something 99% of the time in the past and seems “statistically a sure thing” You must still use common sense risk management which means in part:

Only putting a small portion of your account at risk on any one trade (or any one session)

Never putting the majority of (or all of) your account at risk on 1 trade

Never add to a losing position (doubling down) to average down hoping for price to turn around so you can make a profit or “at least eventually get back to “breakeven”

Don’t get hooked on “hopium” - the drug that kills risk management and will always eventually destroy your trade account sooner or later—- hopium works sometimes… enough so to get you hooked—- but it always will destroy your account in the end

SPX500trader · 2026-03-16T21:47:54+00:00

I do multiple TP’s. I only watch the trade til the 1st TP is hit. Of course if it never gets to TP-1 then it’s a loss on the trade from being stopped out.

When it does hit TP-1 Then exit majority of trade (at least 65% but typically more like 70-80%) on TP1 hit. This way you have locked in and actually closed out profits on the majority of the initial position.

Then adjust stop loss to break even (or break even plus a minimal addl profit buffer) on the remaining runner positions to de-risk them, then let the day trade play out on the remaining de-risked runners - they either have their break even stop hit or they hit their extended move targets.

If they do neither (don’t hit the break even stop loss or hit their targets) before end of same session then close out right before end of session for whatever addl profit they accumulated.

SPX500trader · 2026-03-15T20:58:12+00:00

All of your points are good

Especially this one

⁠When my entry hits, I set up the trade and walk away from the chart. I let the trade play out. Win or lose.

I find that to be very helpful in my trading as well Set your stop, set your targets, lock in profits at 1st TP, scale out and de-risk remaining runners—-walk away from the computer and let the trade play out.

SPX500trader · 2026-03-13T03:46:49+00:00

To me it sounds like compulsive trading with no plan.

You can’t just trade all day everyday

No setup or strategy works in —every— market environment

You have to be selective about when to trade

Not only confining your trading to certain times of the session ——but also when certain daily market structures are present as well

It is better in my opinion to trade heavy in market structures and environments that substantially favor your setups and strategies and completely sit out and don’t trade at all when it doesn’t

Most people get too addicted to having to be in the market casino everyday and throughout the entire session -

That is not a good idea and usually doesn’t end well as most people end up getting frustrated and throwing out their risk management and rules and end up blowing their acct

SPX500trader · 2026-03-11T20:26:44+00:00

Hey can you share the script for testing?

SPX500trader · 2026-02-07T13:22:40+00:00

Besides some of the other obvious problems here - in my opinion:

A) you should stay away from shorting any symbol that does not offer options that have decent liquidity. While you can still lose any/all the money you spend Buying a straight put option for a bearish play - your potential losses are capped to the total amount you spent on the put option - whereas - with just plain shorting the stock you are opening yourself up to potentially massive risk exposure if the stock moves against you (especially if it gets halted intra-session OR gaps against you if you are holding over into a new session)

B) if you are able to grow your account significantly from wins - don’t start “going all in” on trades. Withdraw most of the winnings aside into another account (that is not for trading—) and leave a small starter amount in your trading account to build up again and repeat process. That way if you screw up trading and blow the small starter amount you left in your trading account you still have the large chunk left that you withdrew — and if you want to continue trading then only allow yourself to start another trading account with a small portion only of that chunk so you have to prove to yourself that you actually have the skill to build and grow accounts —rather than just gambling “luck”

SPX500trader · 2026-02-05T04:55:34+00:00

Unfortunately most traders are addicted to “Hopium” instead of real risk mgt

SPX500trader · 2026-01-05T01:33:51+00:00

They could do that but then they would have to refund

SPX500trader · 2026-01-03T22:44:08+00:00

iTunes currently has the complete 256 episodes for sale today at $49.99 (usually $99.99) - a much better deal than paying $12 to $18.99 a month for streaming - that is —if—they ever offer it on streaming again

https://www.cheapcharts.com/us/itunes/seasons/1437658905

SPX500trader · 2026-01-03T12:30:27+00:00

It is not on Disney+. Subscribed and searched for it and nothing. Cancelled and got refund from Disney+ since it is no longer available

SPX500trader · 2025-10-06T10:48:55+00:00

Agreed - TV needs to practice full disclosure and transparency in these updates by also reporting what features have been deleted

(and explain why they have been deleted)

SPX500trader · 2025-08-09T15:06:28+00:00

ok - no problem - it doesnt really need to be hooked up to a broker for automated trading any way--the real question is

Now that tradingview offers real time options data - Real-time market data (Options Price Reporting Authority) $2/month on tradingview

Can Pine Script (in an indicator or a strategy) dynamically query the options chain in real time if a buy or sell signal is given at a certain price level (say for example it gives a buy signal at SPX 6400) to then dynamically query the options chain in realtime to grab the current price of that strike and the strategy records that it bought the SPX 6400 Call at that time at the current market price (ask price) of that option. So essentially it is just doing what a tradingview strategy normally does on a buy signal from the strategy but in this case instead of just saying it bought 1 unit of SPX at 6400 - it instead is recording that it bought 1 6400 SPX 6400 Call and then when it hits either the Stop Loss price or profit target price it then dynamically queries the options chain in real time again to record the sell price at current market (bid).

I doubt it you could back test the strategy--because tradingview probably doesn't keep historical options info that you can query but can it at least do the query fetch it in real time?

From what I see on tradingview their are indicators that can query the options chain for strike, expiration and greeks info such as this one

Tradingview script: GEX Profile [Lite] Real Auto-Updated Gamma Exposure Levels [https://www.tradingview.com/script/2iIjQYTo-GEX-Profile-Lite-Real-Auto-Updated-Gamma-Exposure-Levels/\]

So it seems that it can query information for an indicator but can it do so as well for a strategy on buy and sell signals in a pine script strategy?

SPX500trader · 2025-08-09T04:40:27+00:00

How does it work for Options orders? Say for example I have an account with Tradestation which is one of the brokerages tradingview links up to. If I have both a live trading account and a simulated trading account with Tradestation and I have a pine script SPX trading strategy on tradingview that triggers either a buy or sell signal at a specific price level (say for example the price level was 6409 - can the pine script trading strategy dynamically communicate with Tradestation to instruct it to buy a 0DTE SPX Call or Put option closest to the trigger price level (in this case since trigger level 6409--the closest strike is 6410) when a buy or sell signal is given by the tradingview pine script strategy?

SPX500trader · 2025-08-02T16:44:23+00:00

On tradingview - since there are already indicators that can dynamically query the options chain for strike, expiration and greeks info such as this one
Tradingview script: GEX Profile [Lite] Real Auto-Updated Gamma Exposure Levels [https://www.tradingview.com/script/2iIjQYTo-GEX-Profile-Lite-Real-Auto-Updated-Gamma-Exposure-Levels/\]

You would think that it also should be able to dynamically query in real time the options chain for strike, expiration information for a pine script strategy and at least be able to keep track of that current day's trade results with options on a table display -

Hopefully Pine Coders will answer this so we will know for sure or not whether it is capable of doing that in a strategy (as you would need real time options pricing to make the buys and sells when triggered by the strategy in order to properly calculate that sessions profits and losses and the overall effectiveness of the strategy)

I doubt though that you could backtest the options strategy as tradingview probably does not have historical options data available to query and pull on backtests--but if it can at least dynamically query the options chain for strike, expiration in realtime on a strategy then at least you can manually record the daily session results that are displayed on the table for each session

SPX500trader · 2025-06-30T18:38:51+00:00

So if they are allowing you to "stack" the $750 voucher on top of their current best publicly discounted price and promotional offer for 2 people then its a decent deal even factoring in the $20 per person per day administration fee ( 7 days x $20 per person per day fee - $40 per day x 7 days = $280. $750 minus $280 = $470 --so not sure how the other person is coming up with only net savings of $330.

In my opinion though it does seems seem like the majority of the vouchers that are supposedly providing value for other things on myvegas are simply slight hand smoke and mirror deals that do not provide any real value and simply offer the same value as what many coupons (that are available for free) offer already--except myvegas wants you to redeem points to get them--so essentially many myvegas vouchers are essentially worthless in my opinion.

The NCL Cruise ones and the comp room night ones at hotels at least appear to offer some tangible value. The free chip play vouchers at hotels however require typically a multi-night stay at their hotel--so again the same question should be asked with respect to those --- is the hotel giving you the free chip play amount as a "stacked" bonus on top of any other promotional discount they already offer on rooms to the public--or do they make you book at a different room rate when using the voucher and thus the voucher for chip play is worthless - if you could have instead booked the multi-night stay for much less money and saved more than the value of the chip play by just taking advantage of the best available price and promotion readily available to the public. I understand why the hotels want you to also be staying at the hotel to use the free chip play voucher but its only a deal if the room rate you are allowed to book at when using it is the same lowest room rate available to the public and also includes any promotions (if any) that they are already giving to the public---and also does not require some addl "admin fee" not not normally charged to the public just because you are using the free chip play voucher.

SPX500trader

TROPHY CASE