buy $100 worth of options- that'll be one probably and close out when it hits either $200 or $50,simple-now just make sure you get more of the $200 exits than the $50 exits, use a 62 EMA on 1 minute chart, job done.
While it is possible to make very good money trading SPX, NO ONE is making 100% ROI consistently, over time, although it might be possible to make 100% of your initial investment over a short period of time IF you start with a relatively small balance (Most brokers will require you to have at least $2000 in your margin account of which only half is available for trading options) AND you're willing to risk all that is available with each trade, AND you WIN EVERY TIME. But if you do risk it all and discover that you need to make an adjustment to your trade, you will not be able to because you will not have sufficient liquidity available to make the adjustment. So, don't believe this person because you are not being told the whole story. If you want to Day Trade SPX, before you even fund a brokerage account, open a paper trading account and become intimately familiar with SPX. Don't waste time looking at anything else because, while SPX isn't totally unique, it does come pretty damned close. Set you trading balance in your PAPER ACCOUNT to equal your risk capital to make it more realistic. Become familiar with credit spreads (Put and Call), Iron Condors and Broken-Wing Butterflies. Some of those are directional but Condors are not. Become familiar with a good chart. I, personally, like Trading View (Google it) and how to read the signals it contains. Successfully Day Trading SPX requires you to have a solid understanding of what the markets (SPX is the index for the S&P 500 which includes all of the Dow plus just under 500 other publicly traded large cap stocks) so it is a good indicator of what is happening in the world of equities. Understand that it can and HAS moved $300 in a 24 hour period. If you are day trading you will only be trading on Expiration days, usually Mondays, Wednesday and Fridays. Learn to gain COMPLETE control of your emotions. if you are not able to do that, then do NOT EVEN CONSIDER day trading SPX or anything else. You will quickly become suicidal. Get to know SPX better than you know your spouse or your children but don't neglect them for the sake of getting to know SPX. Don't waste time with other derivatives, especially stock options. SPX is unlike ANY stock based derivative. Success Day Trading SPX is a function of Discipline, Emotional Control, Knowledge of the markets and knowing that the financial rewards (ROI) are a function of all those things plus the risk you are able and willing to take.
Just to clarify, you seem to be saying that a $1.00 return on a $99.00 investment is equal to a 100% return on that $99.00. I don't want to misinterpret what you are saying.
great in theory, it's possible IMO, could be wrong. straight options trading, zero naked trades, zero shorts, zero margins .... I have yet to see anyone trade options successfully 100% return/day. simple I suppose, is you'd need to buy a call or put option at $x with the stock to move up or down by xyz for the option to double. a 1000% IV might do it, don't know, haven't figured it out. or a simple vertical spread, call or put, the debit cost of the trade is 50% of the spread, example take a spread of $10, cost of $5, the stock moves in the right direction, the spread fills out to double. I'm sure that there a re a few more simple trades - again getting the right pick, 'timing the trade', in/out execution ... as posted above compounded the trader would be a zillionaire who at some point could pay off the US debt or better still do a 'Hostile takeover' of the US, or any country. issue also is there aren't I believe enough options to trade a zillion dollars or brokerages to carry a zillion dollar trade
Day 2 he had $1 left to trade and he gained $1, so he achieved a 100% return and had $2 left in his account. Even though he lost $98 in a $100 account, his average % is positive => (-99 + 100)/2 = 0.5% average % gain. If he is selling a trading educational service, he would advertise he has a positive % gain using his system.