Aliassmith Beats a "Dead Horse"

[Lvup7]

Sometimes I feel like I should drop forex and trade solely options. I see why MightyOne always thought adding zeros to your account was/is normal.

My Apple play was 148 call @ $2.60 yesterday. It doubled today!
50% return on account.

BUT no, i am still addicted to that forex crack.

Hi Alias, I am interested learning about options. Not much experience. For day trading, Are there some days of week better suited to trade options than others? In others do you trade options like forex, trade what you see Or certain days are better for options than others.

[cheunt3]

Sometimes I feel like I should drop forex and trade solely options. I see why MightyOne always thought adding zeros to your account was/is normal.

My Apple play was 148 call @ $2.60 yesterday. It doubled today!
50% return on account.

BUT no, i am still addicted to that forex crack.

Very very nice, congratz!

Thanks, options are crazy.
That same strike had another 100% swing today.
You can 100x your account in a year and maybe 1000x.
At that point we are talking about 25% returns a week.

Not going on the option's journey with you Alias. Forex is too addictive.

Love to learn more though.

[aliassmith]

Very very nice, congratz!

Thanks, options are crazy.
That same strike had another 100% swing today.
You can 100x your account in a year and maybe 1000x.
At that point we are talking about 25% returns a week.

Not going on the option's journey with you Alias. Forex is too addictive.

Love to learn more though.

Ya man it is like crack.
I do see myself going full options at a US regulated broker in the future but not yet, possibly within the next 5 years.

[aliassmith]

Sometimes I feel like I should drop forex and trade solely options. I see why MightyOne always thought adding zeros to your account was/is normal.

My Apple play was 148 call @ $2.60 yesterday. It doubled today!
50% return on account.

BUT no, i am still addicted to that forex crack.

Hi Alias, I am interested learning about options. Not much experience. For day trading, Are there some days of week better suited to trade options than others? In others do you trade options like forex, trade what you see Or certain days are better for options than others.

I don't really have that data. Its like when people insist you can't make money on Fridays with Forex, I call BS.

There are so many ways to trade options I believe they outnumber the number of ways you can trade Forex.

If the number of ways you can trade Forex is equal to x then options would be x+y at least.

Its probably best to specialize with 1 method. I like buying calls and buying puts. They can be just as deadly as a high leverage Forex account in a regulated environment.

Lets say we used $100k account and i use $10k in margin on that Apple trade. Thats about 40 options in play. Each option earns $2.60 over 2 days. The option increased by 100%. It earned $2.60 x 100 shares x 40 options = $10,400 so about 10% return on account.

Or if you have 5 $100 bills like MO said and bought 1 Apple $2.60 then you earn $260 on a $500 account for 50% return
.
Do your own due diligence. They can be as tame or risky as you want. With options you can technically drive your account to zero in 1 trade in 1 day if you are an idiot.

[cheunt3]

Thanks, options are crazy.
That same strike had another 100% swing today.
You can 100x your account in a year and maybe 1000x.
At that point we are talking about 25% returns a week.

Not going on the option's journey with you Alias. Forex is too addictive.

Love to learn more though.

Ya man it is like crack.
I do see myself going full options at a US regulated broker in the future but not yet, possibly within the next 5 years.

s**t, now you got me looking at options

Would be great to get a bunch of us getting into it here like the good old kreslik days.

[aliassmith]

Not going on the option's journey with you Alias. Forex is too addictive.

Love to learn more though.

Ya man it is like crack.
I do see myself going full options at a US regulated broker in the future but not yet, possibly within the next 5 years.

s**t, now you got me looking at options

Would be great to get a bunch of us getting into it here like the good old kreslik days.

Stay away they are all mine!

[aliassmith]

You can even use Robinhood or Webull on your phone.
Here is a pic of Ford (F) option on Webull.

Notice it moved 100%.
That move is worth $22 up to doubling your account.
It depends on your strategy.

You can probably do that on a 1:500 leverage Forex account.

[aliassmith]

ProTip

If you want to daytrade options without having a $25k+ account use a cash account because options settle overnight. This means with options you can trade your full funds unleveraged once per day without triggering the pattern day trader rule.

If you close an option trade on Tuesday those funds will be available on Wednesday.

[aliassmith]

These option charts give a better picture.
I marked the option low when the SPY turned long in tbe afternoon.
You could have made $1.00 per option with $0.70 investment.
Timing your entries can be very lucrative. Thats 142% in a few hours.

If you only look at the big red number you could assume no money was to me made.

Oh ya there was a 100% move in the morning session also.

[Lvup7]

ProTip

If you want to daytrade options without having a $25k+ account use a cash account because options settle overnight. This means with options you can trade your full funds unleveraged once per day without triggering the pattern day trader rule.

If you close an option trade on Tuesday those funds will be available on Wednesday.

Thank You bud. In terms of instructions, is it better to stick with bigger names like Telsa, FB,Apple etc.? How do you decide what you'll trade, based on chart PA?