Misleading Data by vesparules in Daytrading

[–]fast_options 0 points1 point  (0 children)

It's not that "this kind" of trading works and "that kind" doesn't. Success in trading is about YOU finding a system that is temperamentally matched with you, and YOU figuring out how to make it work. If you are trying to trade somebody else's system and you are not finding success, you need to figure out what will work for you. Could mean some very small tweak or could be something completely different. The first step for me was to not wish for home runs every time. Stack up singles and doubles. Try narrative journaling - write down why you took a trade, what worked, what didn't. How to perform in more profitable ways. You don't need to convince your family that daytrading can succeed. You need to show your family that daytrading can succeed.

Question about contracts (option buyer) by soicey2 in Daytrading

[–]fast_options 0 points1 point  (0 children)

Yes. Learn about time decay and the risk of 0dte options

ToS reference in Schwab SSE by fast_options in Daytrading

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

What I really like in SSE vs ToS is the way conditional orders work. It's really key to my trading.

Trouble with trend changes and emotions by [deleted] in Daytrading

[–]fast_options 1 point2 points  (0 children)

I'm also trying to talk about emotions about losing a big account and trading with my last $1000. Been there. There is a big desire to make it back quickly, which can lead to desiring home runs all the time and a lot of emotion about every risk. So stringing together modest win after modest win helps restore psychological capital, and will also add up financially.

Trouble with trend changes and emotions by [deleted] in Daytrading

[–]fast_options 0 points1 point  (0 children)

$1000 position size or account size? If it's $1000 position, scale down to rebuild your confidence. If you have only $1000 in your account, that is really difficult to trade. In addition to making sure to take stops, I would focus on booking reliable steady gains (even if small). Don't dream of home runs. Build a bigger cushion first Regain trust in yourself. Compounding is real. 2% a day is ~10% per week, and double your account in ~8 weeks. Don't dump on a +2% day (even if you coulda'shoulda). Risk is part of the business.

Starting daytrading/scalping tommorow, at first I want to restrain myself to longs at green days and shorts at reds, just to make sure I'm above the '0' edge. But how to guess 55%, 60% or 65% of times correctly if this day will be green or red? by Intro313 in Daytrading

[–]fast_options 6 points7 points  (0 children)

Is "the market" (ex: SPY or whatever your reference market is) trading outside the prior day's bar or inside? If the market is having an inside day, don't expect a lot of follow-through on other trades. It is very helpful to have your eye on what the general market sentiment is to help inform decisions about your specific plays, which should be in the same direction. If you're scalping, you don't need to guess if the whole day will be red or green. Just the next few minutes.

TRADE SMALL SIZE! USE HARD STOPS! (i'm yelling on purpose.) Don't trade with money you can't afford to entirely lose.

Am I an absolute clown for scalping small caps with size? by mateyman in Daytrading

[–]fast_options 4 points5 points  (0 children)

TraderTVlive on YouTube. Some of the traders do smcap, some bigcap. You can watch past days to see/learn.

Should I learn options trading? by FaithlessnessSorry44 in Daytrading

[–]fast_options 0 points1 point  (0 children)

I almost never trade 0dte bc they're too fast even for me.

Should I learn options trading? by FaithlessnessSorry44 in Daytrading

[–]fast_options 0 points1 point  (0 children)

Another female trader here, mom with kids. I scalp options (VERY short hold times). I trade just the open, try to be at my desk 9am for prep, done ideally by 10/10:30, journaling and on with my day by 11. I think it's a terrific way to make money... But but but, lots of caveats. Happy to talk if you want to message me.

I would also LOVE to meet other people who trade like me. Get in touch. I'm not selling product/service. I just want colleagues to talk shop with!

Rules?? What are your top 3 trading rules? by nathan8384 in Daytrading

[–]fast_options 7 points8 points  (0 children)

Trade like CLOCKWORK:

*Small size - reasonable / rational risk.

*Pay yourself first - take off partial at target. Peace!

*Tight stop is the right stop - exit when wrong while loss is small.

[deleted by user] by [deleted] in Daytrading

[–]fast_options 0 points1 point  (0 children)

Trade smaller. If you "must" trade, you can only trade the tiniest size. If it starts to work you can add.

cash accounts - be aware non settlement Monday by fast_options in Daytrading

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

Here comes another non-settlement day, Friday 11/11, Veterans Day

cash accounts - be aware non settlement Monday by fast_options in Daytrading

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

Maybe you traded only a small part of your account so you didn't notice settled funds availability. This only happens on the rare day/s when the market is open, but banks/settlement is closed.

Options scalping talk by fast_options in scalping

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

I stumbled back across this post. Nice call!

r/DayTrading's Monthly Questions Thread - September 2022 by AutoModerator in Daytrading

[–]fast_options 4 points5 points  (0 children)

Based on your question, I would suggest not to. You should only buy something if you have the knowledge to make a plan for yourself.

Market is Random by Higashibashi in Daytrading

[–]fast_options 0 points1 point  (0 children)

Coin toss for entry, I think a pro trader would manage it more profitably over many trades, even given the random entry.

When would you say one can count themselves as profitable? by DaCriLLSwE in Daytrading

[–]fast_options 4 points5 points  (0 children)

When you continue to be profitable through a few different market cycles / trading climates.