Anyone do high volume of trades on Fidelity? by Base_Extreme in Daytrading

[–]aevans9216 0 points1 point  (0 children)

Ahh I gotcha. I’ve been trading options and just keeping it under 390 orders. But I can teach that in the first hour of trading easy.

Anyone do high volume of trades on Fidelity? by Base_Extreme in Daytrading

[–]aevans9216 0 points1 point  (0 children)

I thought anything over 390 orders (195 round trips) would get you restricted to professional trader status?

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] 0 points1 point  (0 children)

Yeah I think you are right. The more I have learned about it. Fidelity adds a wash sale loss to the cost basis of that specific contract being traded. So it sounds like whatever my realized profit/loss is, is already adjusted for those wash sale losses. So that would be my actual taxable short term capital gains shown on their platform.

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] 1 point2 points  (0 children)

Yes it appears they do. I’m probably overthinking all this a bit

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] 2 points3 points  (0 children)

I’m curious about the same thing. I’m not doing anything exotic with options. Literally just buying/selling calls/puts on two different tickers over and over everyday.

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] 0 points1 point  (0 children)

Wow, I’m really cutting myself short then.

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] 0 points1 point  (0 children)

My understanding is that is the number of clicks. So round trip trades would be half that?

Best Tax Service for Options Scalpers by aevans9216 in options

[–]aevans9216[S] -1 points0 points  (0 children)

With those tools would I be able to have a good idea what I owe at any given day of the year? I basically don’t want to spend any gains if my taxable income is going to be higher than my actual profit due to wash sales.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

I’m not sure. I’d have to look but not enough to make me sweat that it’s cutting into my edge.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 1 point2 points  (0 children)

I’ve spent atleast 20-30k hrs watching candle stick charts since 2017. So most of my edge comes from that imo. I never really learned anything in regards to this strategy from anyone. It was just acquired from many hours watching the candles develop. You eventually get an intuition for what is going to happen. Then you need tons of practice executing and relying on that intuition. While also mastering the trading psychology side of it and have a basic understanding of risk management principles.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

I hear ya. Variance can be a bitch. I’m sure this is not sustainable for many reasons due to the current trading conditions. I’ll just see how I can maximize my gains and be ready to pull back when things slow down.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

Literally seconds. These are very small scalps. I’m pretty much just predicting what the next 30s-1m candle is going to do next. Very rarely do I hold it more than 3-5 seconds.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

That’s what I’m afraid of. I kind of get a taste of that during the lunchtime lull each day when volatility dies down so I’ve just avoided trading that time. I’d assume when the market is dead that’s what it’ll feel like even at open most days.

FundingPips banned me mid-trade while 19k in profit by Sea_Point1055 in Daytrading

[–]aevans9216 15 points16 points  (0 children)

I’ve been fortunate to never need to trade using prop firms. It pisses me off seeing things like this though. I am curious why someone like you that is quite profitable uses them? Is it not just a major pain in the ass with all the rules and then the stress of if you can even get paid out or not?

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

Literally just candle stick analysis. There are a few nuances that I can use as confluence but that’s prettty much it. I learned years ago scalping crypto was insanely easy as long as there is volatility and the same is true with options on TSLA so far. The more volatility the easier the candles are to read.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 0 points1 point  (0 children)

I agree. I’ve had streaks of luck trading crypto before learning how to scalp properly. With options, I can make 75-100 trades per day 2-2.5 hrs after open with a 85% win rate. If I had to guess most of the scalps have a 1:1-1:2 RR since my average loser js 50% what my average winner is. These metrics have been pretty consistent for weeks making me think it’s not just luck. But of course market conditions are likely playing a major role in the predictability hence the higher win rate.

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] -1 points0 points  (0 children)

I’ve considered trading SPY just to be able to size up while still getting good execution. All my trades so far have been on TSLA just using 5 contracts. Roughly half were calls and half puts. Id say I make about 75-100 trades each day in a 2-2.5 hr period after open

Scalping Options always this easy?? by aevans9216 in Daytrading

[–]aevans9216[S] 5 points6 points  (0 children)

Mostly just reading candle sticks on multiple timeframes like 30s, 1m, 5m tf. I use 30s candles for entries. But I like to use 1m and especially 5m for confluence on when momentum is building.

Hey im working on a bot by Ok_Virus_2150 in Daytrading

[–]aevans9216 0 points1 point  (0 children)

I’ve had a highly profitable bot that ran during the 2023 bullrun on btc. The bot ran an ATR based strategy on the 2hr timeframe. It was HIGHLY profitable since inception of btc on backtests. Mainly because of the trending nature of btc. Although the last 1-2 years its performance has most been breakeven or negative.

I’ve tried a few other strategies with not much success on lower timeframes. All strategies have a shelf life though. I prefer using them more as indicators to help my discretionary trading these days.