How do I develop my day trading strategy?

Sioux?

 

.7-.8 delta is the same as a 70-80 delta. Either out of 1.0 or out of 100.... refer to option chain....

 

For instance a 150 strike FB call is a 1.0 delta, the highest delta possible. Sometimes people say delta 100... get it?

 

Yes and see pm.

 

I'm aware of that but a DITM strike is assumed to be delta 1.0 to mimic dollar-per-dollar the underlying. At .7-.8 were talking near ATM, no??

 

No..... 1.0 is the highest.... so .7-.8 would give you 70-80 cents per dollar move... ATM option with 9-12 months out will never have a delta of .7-.8.... refer to option chain..

 

Appreciate the thoughtful response.

The 2 years I mentioned is focused on day trading futures. Stocks and options were from couple years before that. I have a finance back ground so fundamental investing is something I'm familiar with but the return is rather small compared to successful traders, especially if you don't have millions to invest already.

I'm aware of the failure rate (90%+) but I'm also aware that most quit within certain time frame. It's sort of a passion of mine to be a successful trader. Already spent thousands of hours and needed to find some direction to spend the next few thousand hours as my creativity wasn't enough to think of other ways at the moment. Hence this thread.

I find it interesting that you mentioned I should be able to answer when I should enter/exit. I would also like to know how to do this. How can one train their eyes to build this skill? I'm still at a loss.

 

Are you the next HFT, coming soon to a forum near us?

 

Yes, if one can predict the future, one can take over the world.

I do agree indicators are mostly garbage unless you use them as a decoration on your chart. I actually tried a lot more than what was mentioned above, only to realize I'm better off without it, so I took them all off awhile back.

 

This would have been a nice strategy during all these bull years. Can you survive black swan events though? Also this sounds better suited for someone looking to invest than generate income through trading. Far out DITM options with that kind of delta is essentially going to cost at least half the stock's value isn't in?