Can A Complete Beginner Make Money Day Trading?

[@PathDivergence]

These are very helpful videos. Thank you.

[@zerodaymark]

Thank you for your support, let me know if there is you want me to cover?

[@RealMonopolyMan]

When using bot algo as your stop controller, do you always use PDQ as your stop speed? I've been using fast for double calendars, but wondering if I should switch to PDQ. I only trade one DC per week, so it would take forever to split test PDQ vs. Fast stop results. For iron condors, do you stop on short only so the longs can remain open as lotteries? Thanks, Mark!

[@zerodaymark]

For 0 DTE yes for other trades like DC's you can def have slower stops. I personally dont like stops to much for DC's and prefer profit takes but as long as you run backtest that you match closely you can do either

[@zerodaymark]

Always on short only TS you can sell the longs after which is nice as well

[@RealMonopolyMan]

@@zerodaymark cool, thanks! I technically don’t use a stop loss on my DCs either, but I will exit early if the underlying moves too far ITM which is configured under the stop loss settings of TS.

[@billybellomy9870]

Thanks so much for these videos Mark. Are you just using Steward bc the integration w Schwab? Still using TAT for your trades? I cannot figure out how to go with the closest strikes on a fixed premium trade. Options Omega goes closest strikes to a fixed premium trade and TAT uses it as a bare minimum. I guess just accept there will be some deviation?

[@zerodaymark]

I use both and yeah it does not matter to much as long as you see that they are close results to your backtest

[@billybellomy9870]

@zerodaymark great thanks just didn't want to blow up my trade seeing how the margins are so narrow. Please keep up the awesome work!

[@CrossHair001]

Nice One ! Currently coding my own using python for tradier as TS doesn't have the option to take SL using 1 Min Close . is there a way to do that on TS ?

[@zerodaymark]

you can use their bot algo but for a stop id recommend against it

[@CrossHair001]

What would you recommend someone just starting off as a trial , with a 30k acc (will eventually scale) 4k max DD (can take higher DD if needed but would like to keep safe in the start)...

[@zerodaymark]

You can follow connors trades he is using a $30k acct the right answer is gong to be the trades you feel comfortable with and usually those are the ones you research and backtest so you have more confidence in them

[@CrossHair001]

@ sure

[@anthonylowe7068]

Hi Mark, I’m considering purchasing a subscription to Options Omega and had a couple of questions. For example, if I have a hypothesis that when the market exceeds the expected move on a given day, it tends to exceed the expected move again the next day, is there a way to use Options Omega to analyze historical data and validate that idea? Also, do you know of any videos or resources that provide a comprehensive walkthrough of all Options Omega’s capabilities? Thanks for the great content.

[@zerodaymark]

@@anthonylowe7068 they have courses on their website. You could test it but you would have to extrapolate that data manually not a setting in options omega

[@PeteOakley-s4x]

Hi Mark, do you know of an automation product for IBKR? I spent last week searching and could not locate anything already on the market.

[@zerodaymark]

You can use trade automation toolbox or trademate

[@KriznY]

I enjoyed the intro, learned a bit more about trade steward today, I’m literally learning about options from scratch. Still not 100% confident in setting up a bot but I won’t give up. Is there a best broker for 0dte? Is there a spreadsheet we can download to kind of figure out how to properly backtest?

[@zerodaymark]

Think or swim or IBKR is good. You should subscribe to options omega it will help you learn backtesting playing around with the software and comparing actual trades live results

[@salvatoreviticchie7671]

is option omega reliable in your experience?

[@zerodaymark]

The data 100% it is the NBBO and encompasses everything. In terms of matching your backtest it can be wildly off depending on how you backtest your trades and such. Mine match with a 97% accuracy I see a lot of people that don't even match 50%

[@DaRkVall3yofH4z3]

Thanks for the helpful video as always Mark! Newbie Question, for someone with Connors acc, I've heard it's beneficial to hold bonds, SPY, etc etc while also trading these strategies. Is Connor doing that or is his account entirely cash. Is there a reason not to do that?

[@zerodaymark]

He is just in cash but yes brokers will let you margin a treasury up to 90% and trade options with it so you can earn a 4% yield on your money. Connor will transition to it as his account gets larger

[@chrispark11]

All these videos and I have yet to see one showing anyone actually make a trade.

[@zerodaymark]

All trades are automated I have actually still yet to make a trade this year manually. The backtest are the trades and just programmed into the bots. It is a little different style we use no discretion once the trade is backtested it just runs everyday despite our opinion or market environment. All we do is test the trade, let the bot create occurrences then track the results

[@chrispark11]

@ so no one can learn from you bless they use the exact tool you do. How about us Tastytraders?

[@zerodaymark]

@@chrispark11 You are able to replicate the trades without without automation. there is no difference between trading it with a bot or without the only difference is you would place the order manually in lieu of a bot doing it. The main thing I am trying to display is a fixed set of exact mechanics used on a trade daily instead of loose rules like rolling at certain times and sizing up as IV is higher. Basically our feedback is more than just red and green P/L but rather here is the data that suggest these exact mechanics will probably continue to have edge in the future here is how close forward results have matched past results

[@salvatoreviticchie7671]

can we see the entire portfolio if we subscribe to your discord? how do I find your discord?

[@zerodaymark]

There is no discord we are just going at Connors pace. You can create the trades from our videos we will continue to watch through each one connor comes up with