The time has come to take a step back from trading a fast paced intra day setup. Been trading futures mainly the MES/ES/MNQ/NQ for the past year using a price action based system.
Which is successful but the days of taking a bunch of trades and being in stressful spots for hours at a time, not to mention the constant pre-morning prep and overnight prep and everything else that is needed to make sure you are in the right frame of mind at 9:30 am to not miss out on any trades has gotten very old...very old. I got into trading to have a life and even though I love it and will always look at futures and take trades here in there its time for a change.
That change is options, a little back story before we start. Over a year ago I reached out to a member on here( TheShrike ) and ask for some help with options at the time( still a bit now) options were completely alien to me. He sent me tons of info and lots of help, well this was while my futures trading was doing great and I wanted to focus on that also one of the reasons I have not been very active on FIO the past 12+ months.
Fast forward to a month or so ago and I have a bit of a coming to moment as I stair in the mirror looking at all the grey hairs I have and how my dark brown hair has turned a bit shinier and realized I am way to young to be this stressed and have this many grey hairs.
It then comes to me that I need to take a bit more of a "swing" type approach to trading, this is originally what I did when I got into trading but I got bit by the intra day sexiness of what I thought it meant to be a trader. Let me know you the button pushing all day has gotten old.
After looking at trading stocks and crypto and ETFs, I remember about what shrike told me months ago and decided to look into options. After re-reading what he had sent me it clicked that this was what I was looking for. After reading into options a bit I decide to swallow my pride a bit and ask if the offer for helping me out was still on the table. Thankful he had said yes and has helped fast track things a bit.
Now that we are to current day, I have been SIM trading options using TOS for the past week or so getting familiar with options and how they move and how to use TOS which is a bit of a pain in the ass if I am being honest.
The goal is to fund an account and transfer over some of my Ninja account into TOS/tasty in the next month or so.
The system is extremely simple, sell puts on extremely strong companies and collect premium , looking at a minimum of 30 days out and far but not to far OTM, need to see some sort of pull back and rejection of lower prices
goal is to take a few trades a week at max and let them play out from a few days to a week or two possibly more depending on how price is moving.
we see a big run up in the first day or two then we close it.
pretty simple so for my biggest issues is not taking tons of trades a day.
down below are the trades im currently in
going to be posting my ideas/trades/questions and journey in here. Feel free to follow along post your trades or simply join in the journey.