IWM
iShares Russell 2000 ETF
stock NYSE ETF

https://preview.redd.it/yirwf2j3szdh1.jpeg?width=1320&format=pjpg&auto=webp&s=7e3847e0b82348df556b38a17b32ae74f48a84d9

Some free sauce for you. Check this option out and look at the chart. I’ve been watching this one and was meaning to get into it but lost all my money on 0DTE IWM calls. If Google has good earning this could be a very good one. Make me proud with this one boys 🫡

a simple way is to use the NEOS funds.
for every $400 of IWM purchase $100 of IWMI. If 7% is really needed, adjust the ratio accordingly.

Imagine you could have just full ported IWM

https://preview.redd.it/yirwf2j3szdh1.jpeg?width=1320&format=pjpg&auto=webp&s=7e3847e0b82348df556b38a17b32ae74f48a84d9

Some free sauce for you. Check this option out and look at the chart. I’ve been watching this one and was meaning to get into it but lost all my money on 0DTE IWM calls. If Google has good earning this could be a very good one. Make me proud with this one boys 🫡

a simple way is to use the NEOS funds.
for every $400 of IWM purchase $100 of IWMI. If 7% is really needed, adjust the ratio accordingly.

Imagine you could have just full ported IWM

Today felt like a huge step forward for my execution.
Before the market even opened, I reminded myself of one thing:
**" take your time. Wait for the candle to close, not the rally."**
That ended up being the theme of the day.
I noticed IWM was holding up much better than the rest of the market (premarket). made me question how much relative strength matters. While everything else was weak, IWM was leading, and it eventually exploded to my target without me.
Instead of chasing it, I accepted that I had missed it and moved on.( it when on to move another 1.40 )
I when back to spy and just started playing games on my phone checking the charts for a setup on my laptop.
I waited for:
* Price to reclaim VWAP.( learned the first 15 min to 30min ish weighted vwap is pretty much use less)
* (entered on)A close above the 20 EMA.
That trade worked beautifully.( I will say I exited that trade learn I should have kept using the ema as my stop loss but I was scared and I doubt checked I would have got stopped out at another 1.40 but none the less I'm getting better)
✅ **+61% winner (+$8)**
I used the 5 EMA as a trailing stop and took profit around my planned target. Could it have gone further? Probably.
But this time I made the decision based on my mental comfort instead of greed, and I'm okay with that.
After that, I looked for another opportunity.( It was meta I was waiting for the right side of the V.)
This is where today's second lesson came.
I entered another trade based on the 20 EMA **before** getting the VWAP confirmation I wanted. The trade chopped around, and I decided to exit, giving back about **$4**.
Even though I was still up **$4** on the day, about 10 minutes later the trade exploded exactly where I originally thought it would.
Normally that would've made me angry.
Today, it actually taught me something.
The setup wasn't wrong but show me to only use the 5ema as a trailing stop loss once it pass the vwap and use the 20 ema as the trailing stop loss)( I had a candle low stop loss but switch it after price started holding and moving sightly upwards)
**My patience was 5/10 dropped big on that second as for reason its not higher ranking.**
That might end up becoming one of the biggest improvements to my morning playbook.
**Lessons from today:**
* Relative strength matters.
* Waiting for confirmation gives me confidence to stay in trades.
* Don't confuse "early" with "better." but don't say early is bad
* Protecting profits is good, but patience at entry is even more important.
Overall, this was a good day.
Going in on the I was almost at breakeven with the account almost back to 40 dollars(the starting amount) and was close with a another high of 30 this week but I only ending up 3 to 4 dollars on the week I was sad at for but I decided to day this as a great week of being up positive and would loved to here everyone thoughts. ( do you guys want me to post the trades amount again or are you guys find with the end of day account balance with a -/+ amount like today.
**Ending Live Account Balance: \~$22 (+$4 on the day)**

It’s not instincts, I have it systematized. I watch 6 of the most liquid large caps, most liquid mid caps, and most liquid small caps.
I watch IWM QQQ SMH NSAD NYAD and BITO on one chart.
I have the top six most volatile large caps, mid caps and small caps all on separate layouts.
If 5/6 of IWM QQQ NYAD NSAD BITO and SOXL are opening above the prior two days closes, or below them I will trade open range breaks in whichever has the most stocks moving one direction out of large mid and small caps. If 5/6 of my large caps on watch are gapping up and 3/6 mid caps are and 1/6 small caps are, in no world does it make sense to trade small or mid caps. I adjust my setups to fit the environment.
I then hold to close. If 3/6 of IWM QQQ etc close above the prior days high I’ll swing the trade. If that doesn’t happen, I just sell at close and reset.
It’s the same criteria for shorting just opposite.
I require a bit more context for swinging things but the above is the majority of it.

Don't ever buy a course from an online guru. It's just repackaged stuff that has been around for 40 years that you can get for free.
Don't listen to people on social media, especially we when they all start pumping the same thing (sofi, nike, ect) it's all just follow the leader
Picks a strategy that works for you and STICK TO IT. Don't let it run passed your stop loss cause you're sure it's going to go up. Take it at your take profit and walk away. Stick to the plan
Don't force it. There will be days when things are so choppy there is no good entry. A day with no trades is better than a loss. You might get lucky here and there when you force it. But that's like giving an alcoholic a bottle of vodka. Next thing you know you're back to ignoring your strategy
Don't get emotional. This is the hardest one. If you hit a losing streak. Again don't force it and revenge trade. If you go on a hot streak Don't get cocky and over size
Pick a play and stick with it. No exceptions
Also if you have $30k and want a little secret...
I have an account where all I did was but 100 shares of IWM. Then every day I sell a super high delta daily covered call on it. Like around 90 delta. Will get you around $10-15 in premium every day. Take that I'll just say $10 to be conservative and put it into SCHD and say fund goes up a conservative 8% a year. 2% a quarter.
You end up putting $50+ a week of free money into SCHD. After 3 months you have $714 which will get you around $5.50 in dividends. By the end of the first year you're over $3k and getting $25 a quarter in dividends. After 2 years you're over 6700 and getting $52 a quarter in dividends. Eventually you have more in that SCHD account than you paid for the IWM share. But as long as you keep the delta high enough and roll to the next day if you're strike is tested, the IWM share are going up too along the way

RWL, IWM, DGRO
* RWL is a revenue-weighted S&P500 index, so it's not tech-heavy at the top
* IWM is a market-cap weighted Russell 2000 index of small cap stocks - again, not tech-heavy at the top
* DGRO is a collection of dividend-paying companies that have proven long-term performance. It outperforms SCHD significantly over the long term.
Those seem pretty safe right now with all of the tech sector BS going on.

come on IWM . Elevator up , jump out of window down

Day 2, Week 11. Green. It is not a challenge, doing normal trades as all of you 🙂
I did only 2 days this week, done for week 11. I did not temp it too much when I was in the trades. Not in the mood these day 🤷🏻‍♂️ For those telling me that I should stay in the trades, do it with your own money 😅 I can do it too, however it is not in the plan/strategy goals. Stick to your plan and your target. Don't treat the market as a playground, you are lucky to have access to it with no restrictions with all these technological advancement.
IWM again got rejected by 300 and also by 295, even then it went back to see her sweet 295 today. Just psychological numbers, levels, whatever you want to call them.
As I write this at 10.08 ET, I am done for today. I could be greedy and stayed a little bit more.
If you hesitate to get in, use money you can afford to lose to practice. That's it.
Don't tell people you trade, they will put you down, tell you it is gambling and keep asking you when you will be rich. It should be only you with your chart and broker. You don't go and bore your friends, family, other people with details of your job 🙄
I never use R ratio in any of my calculations, it works for some people, but this maths does not work for small accounts and also for day trading options or futures if you want to be profitable consistenly from what I see.
No fancy options strategy like iron condor, selling etc. Using simple EMAs, VWAP etc to see the trends and levels.
One and done: 20 contracts = $200 total profit.
Total options cost = $ 1,900
11 % profit
Time in Trade : 2 min. A morning glory trade 🤤
Life is short. You do not need many trading days to grow an account. It is the same if you do options or futures, start small. If you shit in your pants after the first trade and lose in second trade on same day, stop being silly and only do one trade or take a break of 15min before trying second trade.
If I start doing 2 trades a day, I can grow my account much faster, however for this plan, I need to stick to it. When I will grow again a small account next time on options or futures, I will target to a shorter amount of time, maybe 3 months.
Start small, money you can afford to lose, then grow your account.
It is not a shame to trade with 1 contract. Shame or pride does not give you profits.
If you are learning by yourself, give it 2-3 months to see how you are progressing.
If you believe I am lucky every day with the trades and posts 🤷🏻‍♂️ so be it. I believe I have no choice, to put in the effort and keep doing, any loss is my loss as it is me executing my own trades and money.
Started with $300, just 3 contracts, 11 weeks ago, and growing it to $60,000 with 1 trade a day in 6 months target. If you were also trading, even $10 per contract per day, you will have progressed a lot.
My trading plan and strategy is trading one trade a day, 2-5 times a week depending on availability.
I only day trade options on ETFs like SPY, QQQ, IWM etc. Timestamp on the broker is UK time. So, entry time of 3.02 is 10.02 ET.
I trade on my phone, screenshot is from TastyTrade.

SPY (S&P 500), QQQ (Nasdaq) and IWM (Russel 2000) are the majority of what is day traded.

tax death and IWM pumping for no fucking reason

Damn IWM. Share some love

I want to get good at trading one instrument, and I have no interest in futures contracts. When I started trading, I chased everything that looked like it might explode, and lost a lot of money. Then, I narrowed my focus to three separate tickers. That worked for a while, I got a feeling for how they moved. But I got greedy with a short, said, "It has to reverse, it's been down all week." Famous last words for an account.
Now, I focus on QQQ. It still gives me grief, but that's what we all signed up for. I find that it gives me set-ups more regularly than what I had been trading, and I generally don't worry as much if I don't exit before the end of day and have to hold overnight (like right now.)
I will probably try trading SPY and IWM when/if I get bored or fed up with QQQ. I generally stay away from TQQQ and SQQQ. I don't like leveraged etfs.