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r/Daytrading • … • u/Sure_Leadership_6003

First Month trading every day for the month. Mainly SPX options.

I’ve been trading options for a few years (mostly covered calls/CSPs), started 0DTE early this year. After trying SPY/QQQ/XSP/SPX/NDQ, I now mainly focus on SPX. This is the first month I’ve traded every day.

I use the ORB strategy. I wait for the first 15-minute candle and, depending on the direction, I open a .2 delta strangle that leans slightly toward that direction. (For example, today I opened the strangle P6460 wider than I normally would at .12 delta, and SPX closed right above that.) Then, depending on how clear the momentum is, I’ll open either put or call credit spreads 4–7 contracts, 10 wide. Today I opened 7 call credit spreads at 6490/6480 after the first candle and made a quick profit. I may do another CS trade depending on the support and resistance levels and whether I think the market is overreacting. Today I opened two PCS near the bottom and profited from both trades.

I typically close credit spreads at 60–75% profit and strangles at 85%.  I also do weekly/monthly strangles and iron condors. The biggest challenges are revenge trading/overtrading, so I limit myself at 4 trades/day.

Account size in the mid 6 digits. I journal with notes, charting on TradingView, and tracking on TradesViz. YTD, 6 months green—though I’ve held onto some older losers too long. I want to redefine my tracking process. I am still struggling with setting up TradesViz, open to suggestions. I want to get a better breakdown on my spreads/strangle trades. I use Fidelity, and it is not too option-friendly.

My goal for Day Trading is to be more comfortable in trading bigger sizes, progressing from 4-7 contracts on 0DTE credit spreads to 7-10 contracts. Either adding daily icon condor on top of the strangles or increase the contract size. Booking more profitable days without being over confident. Also develop a better system on setting a limited price on buy/sell, a few trades got away since I didn't set the right price, even when I got the direction right.

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