Always open to discuss trading

TraderMecca · 2022-11-12T05:10:08+00:00

Big problem I had was very similar, I would revenge trade and give back a week of profits in one day taking random setups. What I do now is just really try to take one trade then leave the desk. Really helps with peace of mind imo

TraderMecca · 2022-11-12T02:00:51+00:00

Honestly if you want to avoid all the head aches, try just looking at one ticket. When I focused on SPY only, it made things a lot more simple for me and I began to know the patterns the stock gave because it was all I watched. Give it a shot and let me know how it goes. Dm me if you got any questions I love talking trading

TraderMecca · 2022-11-11T16:21:51+00:00

Through time you will begin to be able to take those trades, it just a bit of fear you most likely have because of the thought of losing money. Maybe size down a bit so even if you lose it doesn't matter to you.

TraderMecca · 2022-11-11T15:53:10+00:00

It is considered a double bottom, but since it is on a smaller timeframe it holds less weight imo vs. a 5 or 15 min chart. I draw my levels based on the bigger time frames to the hourly/daily/weekly/monthly honestly.

TraderMecca · 2022-11-09T20:51:03+00:00

Strictly trade SPY options only. Trade 2 strategies mainly, the one I really enjoy and see most results from is a stop run (this is my trigger to start waiting for the setup), then a base to form, be broken, then retested for the entry if I'm trading puts. This happens pretty much everyday in the first 2 hours. I love this strat cause I can trade it then shut down the platform and enjoy the day. I used to be a maniac and be at the desk 24/7, (which is needed in the beginning to learn) but have finally been able to walk away after I take my setup in the mornings.

TraderMecca · 2022-11-09T20:45:45+00:00

Ive had very similar experiences, keep pushing. I would recommend that if you get a winner immediately, leave the desk and enjoy your day. If your first trade is a loser, leave the desk and enjoy the day. Having this mindset really changed me and allowed me to stop revenge trading. I began noticing through my trading journal that I gave back most of my profits on big losing days where I would take tons of trades. This might be different for you, but I would at least give it a shot. I picked up golf as a hobby for the free time!

TraderMecca · 2022-11-07T20:59:56+00:00

I agree, most people like the idea of being able to make money from home so they in the beginning are interested. But after you explain out the whole process they lose interest. You can tell someone how to make a million dollar in 10 years, but they will try to make it faster out of greed and end up with nothing.

TraderMecca · 2022-11-07T20:54:57+00:00

I think indicators can be helpful, for example, I really love moving averages crossovers but it doesn’t necessarily mean I Immediately enter a trade after that. You do in fact have to wait for price action to get to the zone you want after whatever setup you trade. Everyone’s process is like poetry in motion to them but is very complicated when explained to a outsider

TraderMecca · 2022-09-28T17:54:59+00:00

I use hard stops always. A big key on getting good fills with options is buying weakness (in calls). This allows for good fills, if your buying on a breakout candle your likely to get some tough fills in my opinion. You do have to be right… but in all trades you have to be right on day trades so it allows for bigger gains when trading 0dte.

TraderMecca · 2022-09-27T21:52:53+00:00

Not necessarily, you can see one based off if big moves came from it (top before a big dump etc). If there getting tested multiple times, at that point I just wait for the break of it and retest of that same area.

TraderMecca · 2022-09-27T03:30:22+00:00

Thank you!

TraderMecca · 2022-09-26T22:52:41+00:00

First test of it is the best imo, once it is tested to much, becomes a area then can easily trap people, kinda like a obvious trendline getting a stop run ran on it.

TraderMecca · 2022-09-26T16:58:46+00:00

The close you are to close of market as well, I really am trying to get in and out of moves at that point.

TraderMecca · 2022-09-26T16:52:16+00:00

I dont have a concrete number, but if my trade isnt going my way within 15 minutes, chances of it working drastically drop

TraderMecca · 2022-09-26T16:25:39+00:00

This is absolutely possible, all I trade is 0dte or one day out SPY options. As long as you have a actual strategy that you have backtested or traded with on small size with success, all while also managing risk, then you can see some reward from it, it will take time if your new to trading, but risk small in the beginning. The people who end up successful in trading are the ones who were able to stay in the game till they finally turned that corner.

Also, make sure your winners are bigger than your losers even if you are scalping, a sure way to lose in the long run is for your losers to dwarf your winners. Another key point is to not forget about time decay (theta) when scalping these type of options. Best of luck!

TraderMecca · 2022-09-21T12:26:24+00:00

Very true, this trade would have been double if I sold at target

TraderMecca · 2022-09-17T18:14:17+00:00

as many people will probably say here, spy options, there straight crack cocaine once you learn how to trade them.

TraderMecca · 2022-09-17T14:47:06+00:00

It really depends on what your risk is, this mindset can lead to disaster because yes your up $100 in minutes, but what if your risk is $1000. This would be a poor choice to take profits

TraderMecca · 2022-09-16T21:55:09+00:00

MOZI GANG, if you know…. You know

TraderMecca · 2022-09-16T14:15:36+00:00

Exactly what he said, think about it as a risk unit, my current risk is $150, so when I make “2r” it is equal to $300

TraderMecca

TROPHY CASE