I hate day trading but here's why I'm doing it.

 I have never been a fan of Day Trading.

• Many platforms have tight restrictions on day trading requiring higher percentages of liquidity in your trading account

• I don’t like to be glued to my computer screen all day
• I much prefer to put on my trades and be able to walk away knowing they will be safe and sound while I go play at things I enjoy

There is a big BUT coming...

But, the Market place is not handing us a smooth ride up or down.  It is choppy day to day.  And even hour to hour.

Announcements from the feds, from the government and even from companies are taking the wind out of our sails.  The old way of putting on a trade on Friday to expire next week or buying a long position way in the future just isn’t working in today’s Market.

So, what’s a girl to do? I'll tell you.

First thing I told myself don’t fight it.

Don’t try to swim against the current. 

Trade what the Market gives me.

Yes, I have been doing more day trading than ever and very successfully.  But I still hate it and I long for a boring Market to show its face again.

In this Thursday’s webinar I will be doing a deep dive on day trading and how to profit in this Herky Jerky Marketplace.

Let’s isolate just one day of trading.  Last Wednesday the Feds made their announcement about another interest rates and how they saw the economy going forward.  Most people were betting on another hike on rates and that is exactly what happened.  Yet the trading herd still reacted fearfully.  The announcement was at 2:30pm Eastern.  You can almost pinpoint the moment when Powell began his comments.  Fear and uncertainty abounded.

I had prepared by pinpointing stocks I thought would react the most.  Many were in the banking and finance areas.  I set up a watchlist on my trading platform of those tickers so I could move quickly.

Once the announcement started I scrolled through my tickers looking for areas of resistance and support.  I was actually more interested in the stocks going down because I tend to make greater gains trading PUTS as opposed to CALLS

Once I spot an entrance point, I open a trade by buying an option at least 15 days in the future.  Remember time decay is a major factor of option pricing.  If you trade too close to the expiration the decay will quickly erode any profits.  Trade further out.  

I buy my option right at the money.  Because the option is cheaper than if you buy further in the money and the delta acceleration is the best here.  If you don’t understand these terms, I suggest you hop onto our Options Blueprint course just to pick up terminology.  The course is a bargain.

Now I own the option and I start looking for the ideal exit to close the trade.  Here’s is my journal covering these Quick and Dirty trades.  I was at my computer only an hour and managed a $2,684.54 gain, a 5.7% return on my $47,000 publicly traded account.

Now I am going to let you in on a dirty secret of the option education world.  This secret abhors and embarrasses me.

Here it is.  There are some experts touting their services that project a gain like I just showed you.  Here’s what they do.

There are approximately 248 trading days a year.  A guru will have a great day such as I just described then will project the percentage over the year and create headlines like, “how would you like to make trading gains of 1,413.% a year on your trading?”  It is misleading and shameful.

I tell you this so you are aware of the practice and don’t fall for it.  I make some great gains year to year but I also have a few failures.  My trades are publicly posted.  And if you are part of our DATA classes they are alerted as I make the trades.  You get to see it all – the great and not so great.

I would love to see you on our weekly webinar and look forward to meeting you in person someday.  Maybe at our next live event in early November.