I never make money day trading options. In fact most of my success came after someone here (@drcha ) suggested I lengthen my t to expiry, less noisy she said.
You can use high delta options if you want to day trade. In a sense, it just becomes a leveraged buy. There is less noise on the time value with small DTE with high delta, but I am sure you know that. If you're trying to day trade options through a lotto process, then I don't have anything that can help
@TheBigShort Awesome results! Inspiring. To try to address the original post: I think @MrMuppet trades mostly intraday (it seems, I went through all of his posts a month ago I think) and seems to be killing it. @CALLumbus seems to be successful at intraday trading and he's right up in HFT territory going for a lot of super short term scalps (correct me if I'm wrong CALL on this). Im trying to become a mostly a day trader but I don't have the experience to say "yeah its possible Ive done it." I'm just paper trading mostly (I do have comedically small robinhood and binance.us accounts to make sure I have some skin in the game from jump street) with some success (mostly intraday equities trading). And I have to pay the bid ask spread (tradingview) and im usually buying 100-200 shares at a time on relatively high volume stocks so it seems like one could get fills like that live (feel free to correct me if im wrong). I'm not saying I could repeat those results in real life as of now but the factors that would keep me from doing so would have to do with things like the stakes being real so stress/pressure distorting my thinking which wouldn't specifically have to do with the markets themselves. Everyone with experience does seem to say it was easier 8-10 years ago though... particularly the scalpers. I just think it's doable. @rallymode seems to be killing it intraday. I believe rallymode and MrMuppet mention putting in 12 hours a day though- a ton of hard work. @d08 is another one I think. There was this guy on here named garachen (I went through all of his posts) and he owns a HFT trading company and he mentions still doing quite a significant amount of manual trading futures intraday with success. I'm sure @destriero will tear up anything you put in front of him but I think he does a good amount of more longer term swing trades (like the Netflix short but I won't pretend I understand that). but he might do more intraday I haven't been through all his (or his old account's) posts yet (need to really learn options first, barely understand half his posts) but I've been through quite a few. destriero will also occasionally mention quite a few guys he knows who make 7-8 figures that I don't think post here, probably a lot of intraday stuff maybe ask him if you're curious about more examples. This forum is a relatively small sample size btw and you still have people killing it. There was also this dude @Slartibartfast who claimed to make 500,000 a month doing very short time frame intraday trading (futures). He mentions learning by trading back to back futures sessions trading 15 hours a day straight nonstop. I think he maybe was legit because destriero never called him out lol. destriero's schadenfreude (just learned that word ) is our salvation, guiding us towards truth! Was he legit destriero ? if so kinda crazy cause people like garachen often mentioned using NO charts just the order book and says that chart reading/TA is BS but slarti claims to mostly just read charts, analyzing using TA and price action and intuition with some quick looks at the DOM and T&S but doesn't watch them closely. But mark Weinstein (of "market wizards" fame for those not familiar) said he was all about TA using even some of the more out there stuff like Fibonacci numbers and Elliot wave analysis and MW said he was tearing up the S and P futures when he started trading from home. Im trying to keep an open mind. btw im sure I left out a lot of great intraday traders on here I haven't been on this forum very long.
Thank you for the comments. Yes, I know high delta ~ = going on margins. But the fact is I failed day trading the underlying, day trading the derivatives will only means I get wipe out a lot faster. I have to find something with positive daily expectancy to dare go back to day trade options. Yes, hunting fat tail in intraday trades is very hard.
This post is embarrassing to post in ET. I know how bad I am. This is for novice traders to believe in. Trading the MNQ with an indicator (support and resistance w/Hull MA) and goosed with martingale between "always in" signals. The signals act independently from the martingale. 58.62% winrate 2:28:1 Win Loss Ratio 4:02 Hrs. max time in trade. "always in" (most trades < 1hr.) Utilizes "Averaging in" trade entry 268 trades stress tested. (I do not backtest as I have segments of time that do the trick) This goes against everything that I believe in (I am allergic to the words "indicator" and "martingale") but I will take it live beginning this Sunday Afternoon. See you in the poor house. ES P.S. This system is profitable without the martingale componet.
No sir, could not day trade the underlying worth a damn. Correction: But I have been doing OK swing trading the underlying.