Review for Consistency

Until 22nd July I made a consistent result, 14 trades: 12 win, 2 lose (the total lose is only 1.1% from my account).

I am not doing this to showoff, but I just want to share what make me come this far, all of the aspect I know.

1. Selecting instrument : Liquid med-volatile Options: AMZN this far. Options don't need a sophiscated stop loss like let's say Future. If you want to risk let's say $300 per trade, then buying contract/s worth $300 will do you just fine. No worry about margin. I didn't say option is better, but it suits my psychology well.

2. Day Trading / Scalping. What's the weakness of options IMO is Time Decay. With day trading / scalping the Time Decay is not included. The Strength is Delta. Short story, Delta goes up when you're right, goes down when you're wrong. Example : Delta 0.6 when the underlying price goes to your way over $1 your option goes up maybe about $65 because the delta also goes up to 0.7. However my options goes -$50 because the Delta decresed to 0.5 when I was wrong.

3. Stock Behaviour and Market Reading. Combined it and you'll see the connection between QQQQ and AMZN for example.

4. Time Frame : The best time frame for me will be market open. Sometimes I finished trading at 10.00 am.

5. Trader Buddy, preferably the same underlying. The weakness is will be influence and opposite opinion. Managed it with Disclaimer and Rspect.

6. Market Rhytm and Almanac. Historical pattern sometime useful to add confidence on your trading. For example : Almanac showed bearish, Market weak bull, Nasdaq Mixed. My strategy simply shorting the Peak while monitoring the market.

7. There's also Psychology issue but nothing new. Tips : It's always make me feel good with profit even it's small and Pay me daily after trade worked for me. I will discuss it later.

8. Partial Profit is also best thing to do in this kind of market. Sometimes after partial profiting and my mood goes down, I simply closed it.

Sometimes I do stupid things, but knowing market and historical pattern back my position, I am more confidence doing it.

Hoped my shared would be helpful