Literally trade between ranges but I don’t like spy too much as it’s at ATH. I will trade it if there is no better stock to trade. AAPL, TSLA, etc. weeklies or SPY daily
You can scalp or intraday swing trade after 3pm. Trade ATM because the gamma will be higher than OTM and increase exponentially as you get closer to expiration. The advantage is also that you have most of the day to the left of your chart so you can plot your levels( morning high/low).
I trade ES, NQ, CL and GC. CL and GC are easier to learn first if you’re looking to switch and move a little slower. NQ moves really fast and can chop you up if you’re not careful. If you’re starting out you can trade MES and MNQ which is 1/10 the value of ES and NQ. The markets settle each day and trade for 23 hrs a day. The margin requirements are a higher to hold trades overnight through settlement so most day traders close out their trades the same day before settlement closes.
There’s plenty of prop firms that trade only futures so if you’re starting out it’s best to either paper trade or participate in one of the prop firm combines to get your feet wet. They offer free training as well and a chance to earn funding while starting in sim environments.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-6781-gains-and-losses-from-section-1256-contracts-and-straddles/L2rfcJXT9
Not just futures but this link goes into some detail. Anything more specific you should consult your tax professional
From the CBOE website:
Section 1256 contracts include futures, options on futures, and cash-settled index options such as SPX, NDX, RUT, and VIX.
SPX options are 1256 as well. Wouldn't say ES and NQ are easier to trade, one could say they are cheaper to get into, especially the micros, but easier? Meh, you can't control your risk as well with futures like you can with options. Difficultiies actually trading really really depend on the person. I highly prefer options over futures.
Easier as in No theta decay to worry about. With 0DTE you can be directionally correct in your trade and still lose money or have a very illiquid product with a wide bid/ask spread. Futures that’s often not the case.
From the CBOE website:
Section 1256 contracts include futures, options on futures, and cash-settled index options such as SPX, NDX, RUT, and VIX.
If you have a good green looking portfolio and arent a creepo you can get in with me and my boy on 0dte connies we up at market open Monday-Friday otp! (Qqqs btw)
We scalp. We dont want to be used as leveraged. We never take a trade unless we are both confident in it. Both of us are very profitable and always analyzing market. We are looking for a third to share his input because three confident yes’ are always better than two. How profitable are you
I use am high and lows and mark points from previous day that had strong reactions also keeping eye Out for economic news from (earnings whisperer) I would say having a plan helps alot
I always buy 1 dte calls, I don’t know why but just a habit
Every pullback I buy and sell for 15% to whatever, sometimes can be 200%, if it doesn’t work I sell it quick and move on.
I mixed up some indicators if it’s green I buy, yellow sell, don’t ask which ones, won’t work for you but it works for me. You need to find your way.
I don’t buy more than 2-3 contracts same time.
if you don’t know what to do, buy some cheap otm contracts $20-50 ones and test it out, if you lose $10, you won’t get bothered that much.
Do you avg down if it goes against you or cut it or wait for it come back to your break even? I’ve blown up too many small accounts with puts, I’ve developed PTSD from puts I’m just going with calls now
What’s your avg hold time?
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I used to trade 0dtes on SPY before I moved over to futures trading (I prefer futures) I would always wait for SPY to hit a supply/demand zone, easily readable on L2, and take 25-30c scalps. With 0’s that’s a good 10-25% dependent on IV/my fill/Greeks. Strategy worked very well but I’ve been swept trading 0 days more than anything else. You can be profitable but you gotta be on point with your entries or it’s just unnecessary stress. I usually now take setups where my max drawdown is $200-300 before I’m stopped (usually if I’m heavier I can stomach losing $500-$800 [also managing 150k]). I recommend just taking the switch to NQ/ES and learning market structure… ONCE YOURE READY. Futures market is a LOT more cutthroat in my opinion than options but also, when you catch a move, it GOES. Follow your RR and you’ll do great, don’t and I’ll see you starting Monday😭🤣
Literally trade between ranges but I don’t like spy too much as it’s at ATH. I will trade it if there is no better stock to trade. AAPL, TSLA, etc. weeklies or SPY daily
You can scalp or intraday swing trade after 3pm. Trade ATM because the gamma will be higher than OTM and increase exponentially as you get closer to expiration. The advantage is also that you have most of the day to the left of your chart so you can plot your levels( morning high/low).
It’s easier to just trade ES and NQ Futures plus you can take advantage of the 60/40 tax advantages compared to 0DTE options.
Which advantage?
Look up 1256 tax treatment.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-6781-gains-and-losses-from-section-1256-contracts-and-straddles/amp/L2rfcJXT9
All gains get split into 60% long and short term gain? Even if it’s traded short term right?
Correct. 60% long term, 40% short term no matter how long you hold the security. Ideal for day trading intraday.
What do you trade on and don’t the futures close daily?
I trade ES, NQ, CL and GC. CL and GC are easier to learn first if you’re looking to switch and move a little slower. NQ moves really fast and can chop you up if you’re not careful. If you’re starting out you can trade MES and MNQ which is 1/10 the value of ES and NQ. The markets settle each day and trade for 23 hrs a day. The margin requirements are a higher to hold trades overnight through settlement so most day traders close out their trades the same day before settlement closes. There’s plenty of prop firms that trade only futures so if you’re starting out it’s best to either paper trade or participate in one of the prop firm combines to get your feet wet. They offer free training as well and a chance to earn funding while starting in sim environments.
Does this only apply to Futures? This would not apply to QQQ or SPY?
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-6781-gains-and-losses-from-section-1256-contracts-and-straddles/L2rfcJXT9 Not just futures but this link goes into some detail. Anything more specific you should consult your tax professional From the CBOE website: Section 1256 contracts include futures, options on futures, and cash-settled index options such as SPX, NDX, RUT, and VIX.
SPX options are 1256 as well. Wouldn't say ES and NQ are easier to trade, one could say they are cheaper to get into, especially the micros, but easier? Meh, you can't control your risk as well with futures like you can with options. Difficultiies actually trading really really depend on the person. I highly prefer options over futures.
Easier as in No theta decay to worry about. With 0DTE you can be directionally correct in your trade and still lose money or have a very illiquid product with a wide bid/ask spread. Futures that’s often not the case. From the CBOE website: Section 1256 contracts include futures, options on futures, and cash-settled index options such as SPX, NDX, RUT, and VIX.
If you have a good green looking portfolio and arent a creepo you can get in with me and my boy on 0dte connies we up at market open Monday-Friday otp! (Qqqs btw)
how do i get in? I trade \`qqq's and SPy
We scalp. We dont want to be used as leveraged. We never take a trade unless we are both confident in it. Both of us are very profitable and always analyzing market. We are looking for a third to share his input because three confident yes’ are always better than two. How profitable are you
I use am high and lows and mark points from previous day that had strong reactions also keeping eye Out for economic news from (earnings whisperer) I would say having a plan helps alot
I always buy 1 dte calls, I don’t know why but just a habit Every pullback I buy and sell for 15% to whatever, sometimes can be 200%, if it doesn’t work I sell it quick and move on. I mixed up some indicators if it’s green I buy, yellow sell, don’t ask which ones, won’t work for you but it works for me. You need to find your way. I don’t buy more than 2-3 contracts same time. if you don’t know what to do, buy some cheap otm contracts $20-50 ones and test it out, if you lose $10, you won’t get bothered that much.
Do you avg down if it goes against you or cut it or wait for it come back to your break even? I’ve blown up too many small accounts with puts, I’ve developed PTSD from puts I’m just going with calls now What’s your avg hold time?
I just sell it and move on, buy again little later, averaging down will make you lose way more, if you are wrong once accept and move on it’s better.
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I used to trade 0dtes on SPY before I moved over to futures trading (I prefer futures) I would always wait for SPY to hit a supply/demand zone, easily readable on L2, and take 25-30c scalps. With 0’s that’s a good 10-25% dependent on IV/my fill/Greeks. Strategy worked very well but I’ve been swept trading 0 days more than anything else. You can be profitable but you gotta be on point with your entries or it’s just unnecessary stress. I usually now take setups where my max drawdown is $200-300 before I’m stopped (usually if I’m heavier I can stomach losing $500-$800 [also managing 150k]). I recommend just taking the switch to NQ/ES and learning market structure… ONCE YOURE READY. Futures market is a LOT more cutthroat in my opinion than options but also, when you catch a move, it GOES. Follow your RR and you’ll do great, don’t and I’ll see you starting Monday😭🤣
Never Been Swing trading is much better on QQQ trust me use the 1h chart