Trading options has nothing to do with account size, any starter person can successfully trade them. They just need to have precise timing and understanding. The allure with options is having potentially outsized, magnified, gains if you're right on direction. But to just Scalp options quickly on the surface I think you're better off with Futures since you don't have to worry about those option Greeks factors eating away at you It doesn't take that many trades to hit a million if you generate on average a very large % return on each trade, with growth and compounding
Good Morning LionsWarthogsMillions, Yes, I believe you. You are right. Scalping on options does not make any sense for my small account with options. Question: 1. Are you risking your entire account per trade to scale up to hit the million? That is what I am doing.
Bold trading and ambitions requires bold strategies and understanding. If a trader wants to hit that million mark...they won't get there by casually investing. They need to be able to grow and compound trade after trade after trade, on a generally consistent sustainable process average,
Hello LionsWarthogsMillions, Yes, I understand. But to grow and compound trader after trade after trade, will require trade win, trade win, trade win, trade win, correct? 100% win rate, not losses!!!
Well, no one is a God...no trader knows the Exact future. But the general idea is to have a generally sustainable winning Average. Above and beyond your occasional, minimal, trade loss. To hit that million mark with growth and compounding trade after trade after trade....the trader truly has to be precise and have great market understanding. And Scalping won't do it....you have to be able to capture much Larger market chart graph line moves
You have been on this site for 11 years. It seems like you have now regressed back to being a totally naive newbie trader who when they start out think they can win almost 100% of the time. And so easily make 100K+ a year on a sub 10K account. It's not even possible to maintain a 65% win rate with a 1:1 win loss ratio day trading the ES. Let alone anything close to 100%. It seems like it should be possible. In reality it is almost impossible for anyone to do when day trading. And using a 'eating like a bird and shitting like an elephant' reverse R:R method like some are suggesting isn't going to work in the long run either. The only thing that is realistically going to work is winners that are bigger than losers, ie. a positive R:R, and an expected win rate between 33% and 50%. A hard grind that requires total discipline and patience, not easy.
Hello LionsWarthogsMillions, I agree with you. I am understanding what you are saying. I am not trading options like that. I am betting it all to get about 15 wins in a row starting with a big account. Some ET members call this gambling but I do not care what it is called.
Hello Businessman, I agree with you. LOL, trust me there has been no damn regression. I am talking about gambling in options market. I am not talking about ES futures trading, I already mastered that and that is going well already. I have no issues here. @LionsWarthogsMillions and I are talking about trading Options market, not the ES market. I am gambling in the Options market, I am not trying to be an expert, trying to get rich quickly betting it all at one time. For example, betting $10,000 in SPX options to get about 10-20 wins in a roll and make a $1million, one loss I lose it all. I am fine by that. Make no mistake about it @Businessman I do gamble and do wild things in the ES futures market, but I definitely 100% gamble in Options trading, I do not take Options serious like that. Just gambling trying to make a million quickly!!
Hello Businessman, Trust me I agree with everything you are saying. It is a day to day grind. 30-60% win rate sounds about right on futures day trading from my experience.