Michael Petryni
2 min readMar 17, 2023

--

You know that link I which I told a guy how to make a 100% a day trading option but I doubt he believes. Well, he doesn't, and I doubt anyone does.

I often repeat what the signal is (no charge), most recently in the 3/13/2023 post.

This is it:

The Simple Strategy To Day Trade Stocks, ETFs and Options.

I have mentioned this simple strategy in relation to day trading options in this story: I told a guy how to make 100% day trading options and I doubt he believes me but the same simplicity also applies to stocks and ETFs.

Here’s how this simple strategy works: if the stock or ETF or option is above its open two minutes into the day (or whatever time frame you prefer) it is a buy, below its open it is a possible short.

The open subsequently becomes the stop loss or the low of the day if you prefer that much risk.

Simple as that.

Now look at today's chart. Click it to blow it up bigger. The purple horizontal line (magenta) along the bottom of the price action is the SPY 386CALL's open. It jumped above it, stopped out, jumped above it again, stopped out, jumped above again and the rest of the day is history.

Yes, every day it different and you never know which way it's going to go, nor for how long or how high. Nothing is automatic in the market. Some days, like today, the money is made in the calls, other days as you've seen in the puts.

Hmm, I might copy this into a separate public just to restate what I've also said before: "The market is simple. It either goes up or it goes down, but it is amazing how difficult it is to recognize that simplicity."

P.S. Thanks for pestering me about this stuff.

--

--

Michael Petryni
Michael Petryni

Written by Michael Petryni

Journalist, film critic, screenwriter, proprietary trader seeking simplicity in trading. https://thegodoftrading.medium.com/subscribe

Responses (1)