I day trade the SPX only, the broad market. Options on that. I have no specific time I place my trade. I wait patiently for my expected sign or signs.....could be within the first 30 minutes, or hour or two or three. If you want to be successful as a trader....learn to think more dynamically, have a malleable mind.....less fixed and linearly. The market....understanding it, observing it.....is part art, part science Understand all the elements and variables surrounding the market game in play...that makes that overall chart line move in that time frame, picture frame, box Stop trying to understand the market as a mathematician or scientist....but more as an artist and juror
Do you only trade options or do you sometimes trade futures or ETFS? Also, curious if you just buy calls and puts for direction with verticals from time to time, or if you do more complex trading. If I understand right you end flat at 4PM or 5PM everyday. Is that right? I'm curious because I have been trading verticals that expire at 4PM, but also swing trade and hold positions overnight and over the weekend at times. This leads me to be calculating setups for verticals, watching multiple futures (ZW, NG, SI, GC, etc.), having multiple timeframes in positions I am long and short in, and also juggling EOD systems at the open. Just contemplating the pros/cons of having a setup with more of a one-pointed focus, so curious as to what you do. Thanks.
Only options. Only basic directional calls and puts, betting up or down when the time is right. None of that complex weirder stuff. I end the day flat, that's what a day trader does. I personally feel simpler approaches and understanding works best. You're attempting to trade and understand too many things, in too many styles, in too many time frames. You'll fall flat on your face.
Seeing that the U.S. credit rating was on credit watch for a downgrade from Moody's, the drop from Aaa is hardly surprising. In the short term, I do not believe it will have much impact on the markets. However in the long term -- countries will be making decisions about which country's debt to purchase. The EU countries have a triple AAA rating. There may be a trend of China, Saudi Arabia, and other large countries to buy Euro debt rather than U.S. debt when they renew existing notes & bonds. This will cause further erosion of the U.S. debt situation over time because the Treasury will need to raise interest rates to convince these countries (and other large investors) to buy U.S. debt rather than the AAA rated debt of other countries. The U.S. will no longer be the global safe go-to.
Yep, they bought the dip as expected. Every dip is a buy no matter what. I was again accurate that it wouldn't be able to leave a gap from the weekly close.