Taking a Top Down Approach to Day Trading · Peter Stolcers

EP 265 | Taking a Top-Down Approach to Day Trading | Peter Stolcers
Seeing and feeling the intensity and chaos of the trading pits back in the 1980’s, Pete knew immediately that trading was the career he had to have. Starting as a floor runner making $5/hr to later trading full time for a living Pete discovered the importance of finding stocks with relative strength during the bear market of 2002. Pete uses a top down 3 step methodical process which helps him zero in on stocks to go long or short. From longs to shorts, conservative credit spreads, high leverage options to occasional Lotto trades, Pete fine tunes his versatile strategies to match current market conditions.
Pete is a trading veteran with over 30+ years of experience in the Chicago Board of Trade 30-year bond pit. He has also served as Sr VP for a large brokerage firm, he has been one of the top traders for a prop trading company, and he went on to devote his time to build OptionStalker and founded OneOption.
Topics & Timestamps:
Please note: Exact times will vary depending on current ads.
0:00 Intro
7:15 Early technical analysis & institutional orders
12:25 Early trading for a living
15:30 Early lessons learned
21:00 Current stocks showing weakness during this bull market
22:00 How money printing impacts market analysis
29:40 How does his market analysis impact strategies chosen
33:00 Strategies chosen in 2022
35:10 Trading in 2023
38:50 When does he not trade
41:15 “You should not buy breakouts near the high of the day”
45:16 When to buy breakouts
47:20 How and when to use options
53:00 Conservative option strategies
56:00 Risk management and position sizing
60:45 Using trendlines
62:35 Struggles and his next chapter
67:12 How to reach Pete
See more show notes here:
chatwithtraders.com/265
Links & Resources:
Website: oneoption.com/
Twitter: / 1optionstrading
KZbin: / @oneoption
* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: chatwithtraders.com/community/
DISCLAIMER:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
#daytrading #stocktrading #optionstrading

[@OneOption]

This is Pete. If you have comments or questions on my interview, please post them. I will take time to respond the rest of this week.

[@qc8227]

most day traders start from the bottom. this is a different mindset.

[@OneOption]

If you get your longer term market bearings and you put the current day into that context you can see which scenarios are most likely to play out and which ones would be most profitable. You don't always get what you want, but you know where your best opportunities lie. Then it is a matter of finding strongest/weakest stocks and using them as surrogate market positions.

[@facundogonzalez2039]

Pete, First of all thank for you time. My question would be, what tools resources/ metrics can we use to start exploring relative strengh?

[@kmmap01]

Have you considered making your book available to non-members? :D I'm sure there are many who find your content valuable who are not members of OneOption, especially in the RDT group.

[@OneOption]

I have not finished the book yet so there is plenty of time before I decide one way or the other. I hope to finish it this winter.

[@G0rd0nHealth]

Pete is the man. This dude knows what he is doing!

[@theoneeman]

Thank you Chat with traders for bringing in folks like Pete.

[@KD-iq1of]

Great interview. Pete is a true professional and knows what he is talking about. His platform is incredible and is for people serious about becoming a consistently profitable trader.

[@TwiztedHumor]

Chat with traders is one of the best resources for trading ever created. Thank you sirs!

[@leefy4829]

Thanks Pete for giving your time for the interview. As always I pick up a few pearls of wisdom from experienced guys like yourself.

[@OneOption]

What would be one of those pearls that you will use? Perhaps I can highlight it in one of my YT videos.

[@Eric-gk3zo]

Great interview Pete! Grateful to have found your platform in 2021 thanks to RDT. I've learned so much and improved substantially these past two years. Up from 55-60% w/r to averaging 80% now. Still so much to learn but feel lucky to be learning from you and others in the group.

[@OneOption]

Congratulations! You are on the path to becoming a Pro. It's exciting to see many others turn the corner as well.

[@aramkirk2243]

Thank you guys for all good and helpful interviews.

[@TradingProAlpha]

Thank you guys for all good and helpful interviews. This really help me get to dissect even a little info that can add to my decision making.

[@bhagirathrathod4798]

Thank you sir for such a opportunity and knowledge sharing and thanks to CWT ❤❤

[@Clex-]

Fantastic Interview

[@OneOption]

Thank you. Ian asked great questions.

[@gmoney8975]

Loved it

[@tradersglobal]

Love this informative epic!

[@sanvicente8635]

Excellent interview. Thank you!

[@OneOption]

Thank you. What is one thing from the video that you will try to apply to your trading?

[@danielweston1179]

Great interview, proud to be part of the OS community.

[@OneOption]

Glad to have you. Much of this interview should have sounded familiar to you.

[@brad6742]

Having listened to a lot of these, this guy is definitely in the top five.

[@stevecote7111]

Great interview loved it thx !!!

[@skaterdude14b]

41:42 43:51

[@mike-oh7pz]

Hey host, I bet you can do a killer Theo von impression. A few times when you started speaking I thought you were Theo lol

[@ChatWithTradersPodcast]

Lol! Thanks for the comment.

[@jhutandas614]

Sir please Hindi

[@alleyezontheline8349]

This is nothing new... min 53

[@jaysteve4442]

Oh man. A few mins in & he doesn’t know what caused the inflation. It def wasn’t “printing money.” Lol. This is widely known at this point. Hard pass on this one.

[@LeftSideCapital]

It’s literally art . 🫡🤝