tsuag10 said:
Please forgive my ignorance here. Can you give me a generic example of scalping SPY?
It is same day trades.
You buy a call (or share) when the share price hits the support level on a downward trend and price bottoms at that level. Buy once reverses. You sell that call when it goes back up and bumps or is rejected at the next resistance level.
Same for a put but reverse. Buy the put when it is at the top approaching the resistance level and rejects. Sell when it is approaching support and is rejected reversing upward again.
This is an over simplification though and more details on levels and entry/exit disciplines must be applied.
Scalp is basically in and out fairly quick. Could be seconds, minutes, hour, etc but typically pretty short time span.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11