My strategy is generally to trade within the first hour after the market opens, as the volatility is higher right after the open, and trading 0DTE can lead to quick profits. Of course, your direction must be correct, and these can be identified on the chart. Today marks my third trade using my own strategy. Next, I’ll share my entry and exit points.
https://preview.redd.it/65cmfx1vd0vg1.jpg?width=1030&format=pjpg&auto=webp&s=74149882d91de39e0b386597ab60b0e89146b7a9
This morning, SPY opened lower, and I kept an eye on the chart to find an entry point. At 9:46, the MACD indicator was deep enough below the zero line, and a golden cross appeared with the bottom rising. The RSI was at 17, clearly signaling a rebound. At 9:47, I bought 50 contracts of 677C at a price of $1.41
https://preview.redd.it/vrvf0d7wd0vg1.jpg?width=1026&format=pjpg&auto=webp&s=5919e1796ace2f09ed8183278bb359443e9ef0fa
Immediately after, SPY quickly rebounded. I was closely watching the chart, and by 10:00, I had made a 120% profit. From the chart, I saw that the RSI was at 66, the MACD volume was shrinking, the top fast line of the BOLL bands was about to change direction, and the MA moving averages were unable to break through. It was time to take profits, so I sold at $3.17 at 10:01
https://preview.redd.it/u49iau8xd0vg1.png?width=3000&format=png&auto=webp&s=cc5cffa9cd4a7ee74ec75c238278ed926c434fd2
Summarize this trade: my strategy is to trade 0dte when there is high volatility within the first hour after the market opens. I look for direction and entry points on the chart, which can be traced within the chart itself. Also, don't get attached to the trade; the 0dte should be fast-paced, and you should not trade based on feelings. When unsure, always wait for the right opportunity to appear.