If I were to start day trading all over again, here is what I would do differently π
(Thread π§΅)
(Thread π§΅)
1. Stop Buying Far OTM Contracts.
When I first started day trading I always went far OTM. Sure theyβre cheaper & you can buy more, but the probability of you making money is substantially less. Always go closer to the money with less contracts.
When I first started day trading I always went far OTM. Sure theyβre cheaper & you can buy more, but the probability of you making money is substantially less. Always go closer to the money with less contracts.
2. Learn Reading The Tape
As Iβve progressed in my day trading, I have noticed the importance of reading the tape. The tape plays a major roll in all confirmation for my day trades. Learn this before learning indicators.
As Iβve progressed in my day trading, I have noticed the importance of reading the tape. The tape plays a major roll in all confirmation for my day trades. Learn this before learning indicators.
3. Be A Sniper
The less time you spend in the market, the better off you are. The longer youβre in a trade, the more risk you have. Get in, catch the move, and get out.
The less time you spend in the market, the better off you are. The longer youβre in a trade, the more risk you have. Get in, catch the move, and get out.
4. Squeeze Your Stops / Trim
When I first started day trading I would sell my entire position at once. As Iβve continued day trading, Iβve realized that in order to maximize your gains, you must trim your contracts and squeeze your stops until you get stopped out.
When I first started day trading I would sell my entire position at once. As Iβve continued day trading, Iβve realized that in order to maximize your gains, you must trim your contracts and squeeze your stops until you get stopped out.
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