SPX 0DTE live trading today

Hallo Tom,
"I uploaded a trade guidelines document to the trade alert home page. Looks for the "Docs" tab."
Tom please will you help me to find this document - esp. for the Definition of the OBR.
Thanks & Cheers, Wolfgang
 
I am trying to place a DS close to one extreme or the other that way the risk of keep going in the same direction is somewhat minimized and a small pull back can bring in quick profits
I try to utilize the same strategy whenever I can. It's not always possible, especially if market is not defined or rather when I have no idea how to read it. Just my plays are farther in dte. Takes longer for profit to come in but there is more varieties of entry options and more time to react.
 
I try to utilize the same strategy whenever I can. It's not always possible, especially if market is not defined or rather when I have no idea how to read it. Just my plays are farther in dte. Takes longer for profit to come in but there is more varieties of entry options and more time to react.
Are you using some technical analysis or indicators when placing the trade or just some price levels or support / resistance ?
 
I use mostly price levels of options, price action of an underlying and "private input" :) aka my opinion about market (often based on price levels and market action :) ). I use rarely TA and if I do it's mostly to get some general market picture not to decide if to put particular order or not.
 
Are you using some technical analysis or indicators when placing the trade or just some price levels or support / resistance ?
For the first trade, we're using an opening range breakout strategy (15-min bar). I"m considering adding more trades using Scott Ruble's ideas which is more looking for consolidation after a move or in a trend
 
I"m considering adding more trades using Scott Ruble's ideas which is more looking for consolidation after a move or in a trend
I was more interested in Scott's idea for a directional trade if possible, how to spot a trend and when to get in , make an adjustment or get out
so that would be looking for a trend after consolidation or a reversal

The current guidelines are based on theta decay which is fine but after doing some simulated trades it seems to me that there is more potential profit with a DS provided it's in the right direction and can be effectively managed
 
Tom, Someone showed a back testing app, I think, and I thought you added a link under the tools section. Am I wrong, because I'm not seeing it.
 
It doesn't look like it's finished or at least there is no explanation on how to use it
It has # of contracts but it does not have buy or sell
The expiration has a dropdown for P90,P75 and P50 is that supposed to be DTE ? Not sure how is this supposed to be used with 0DTE
I put some number in there but it does not find any matching trades so I think it needs more work or maybe you have to pay in order for it to work
 
It doesn't look like it's finished or at least there is no explanation on how to use it
It has # of contracts but it does not have buy or sell
The expiration has a dropdown for P90,P75 and P50 is that supposed to be DTE ? Not sure how is this supposed to be used with 0DTE
I put some number in there but it does not find any matching trades so I think it needs more work or maybe you have to pay in order for it to work
I think it is just selling put or call credit spreads at the specified delta or credit entered at the specified time and exited at the specified stop loss or indicated profit target. The P90, P75 and P50 are likely just taking profit at those points (percentage of the credit). The backtest is just of 0DTE trades. I got results including various performance stats for each of the backtests I ran just playing around with it. Not sure how valid the results are, it would be good to see more documentation regarding it.
 
Thanks for clarifying
I guess I put in too much data
I got it to work with fewer settings So far I got the highest results with P90 so I guess that's taking profit at 90% and 50 wide using puts and calls placed at 9:33 I got about 8500 profit per year with just 1 lot I agree with you about the validity of the results
 
I came across this video

It's an analysis of a time series where it shows that it makes a difference what day you place the 0 DTE trade MTW and also what time of day
Also this can change at certain points during the year so placing the exact same trade on the same day at the same time may work better in certain market conditions at least that's what the backtest showed
 
I came across this video
Thanks Status1.
Wonder what is your conclusion after watching this material.

My thoughts.
(I played it on high speed so I could miss some important points.)
I do not intend to pick on material in this short presentation but rather focus on practicals. Imo: there are none.
The only thing that pops out is that in trading timing matters.
It is spelled out and backed by backtesting results on 2 years of data, on 0 dte, single spread (or 2 spreads).
Like in typical BT a lot of important data is left out.
The most obvious question is why we see those differences in performance. How a trader can evaluate if a spread is good for entry or not while having live market in front of him (a practical thing).

Actually this is a bit complex topic. Well not really, but for new traders it can be overwhelming. Aeromir members are not new to options trading and likely seek deepening the subject (if interested).
Again, not saying that vid is bad or misleading. It's a starting point for further exploration and learning. Maybe other material follow this path further- I don't know. If it does I be interested to see what and how they are doing.

Nice BT interface but otherwise... not very useful, imo
 
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