1) What instrument do you trade? equities/options/futures/etc For day trades, futures.2) What candle, bar, etc... size(s) do you prefer to trade? Size? Not sure I understand. I usually monitor 1M and 5M candle charts.3) What is the typical duration of a winning trade for you? Where's the next major resistance? However long it takes to get there.4) What is the typical duration of a losing trade for you? Where's the next major support? However long it takes to get there.5) What is your profit target in pips/ticks/points/% profit potential/etc... 3 points or more, but if I sense a reversal, I'll reverse or exit for less.6) Do you use a Stop loss? if so, how is it determined? Same as 4.7) Do you use a Time stop? if so, how long? Same as 4.8) How many hours do you spend each week trading? Please Break down into planning/preparation and execution if you don't mind. No prep work, just trading: 6.5 hours/day (regular trading) + 6 hours/day (Globex).9) Do you have a professional background in the financial industry? No.10) Were you a profitable trader in 2023? are you currently green or red for 2024? What the hell does this got to do with you? Come back and ask when you're profitable yourself.
I believe at one time you were a fellow option trader? - What instrument do you trade? equities/options/futures/etc... Options, single legs, long - What candle, bar, etc... size(s) do you prefer to trade? None Size(s)? Between 5 to 6 figures each position - What is the typical duration of a winning trade for you? Determined at the time the trade is executed: weeks to months - What is the typical duration of a losing trade for you? Same as winning trades - What is your profit target in pips/ticks/points/% profit potential/etc... ~ Reward:Risk = 10:1 - Do you use a Stop loss? if so, how is it determined? Premium paid is the stop - Do you use a Time stop? if so, how long? Expiry is the time stop - How many hours do you spend each week trading? Please Break down into planning/preparation and execution if you don't mind. Trade: Placed a dozen to two dozen trades a year so time is negligible Planning/preparation/trade selection: > a full time job - Do you have a professional background in the financial industry? No, never - Were you a profitable trader in 2023? are you currently green or red for 2024? Profitable both 2023 & 2024, but 2022 was a losing year. Good luck and best wishes to you.
magnificent, thank you. and no i was never an options trader...options gambler maybe, but never a trader.
Definition of a gambler: Place bets against long odds, low probabilities. That describes those of us trading single legs, go long only with large R:R and low probability. I am the gambler, not you.