Presents

Ultimate Options Day Trader Course

Part 5With

Bill Corcoran

I am not a registered broker-dealer or investment adviser. I will mention that I consider certain securitiesor positions to be good candidates for the types of strategies we are discussing or illustrating. Because Iconsider the securities or positions appropriate to the discussion or for illustration purposes does notmean that I am telling you to trade the strategies or securities. Keep in mind that we are not providingyou with recommendations or personalized advice about your trading activities. The information we areproviding is not tailored to any particular individual. Any mention of a particular security is not arecommendation to buy, sell, or hold that or any other security or a suggestion that it is suitable for anyspecific person. Keep in mind that all trading involves a risk of loss, and this will always be the situation,regardless of whether we are discussing strategies that are intended to limit risk.

I am not subject to trading restrictions. Myself and other instructors could have a position in a security orinitiate a position in a security at any time.

WELCOME

• I am SUPER excited to do this class.

• This is a day trading class.

• Over the next several weeks our lessons will be based on real trading opportunities that we have traded in my trading group, “The Morning Lab” and/or that I review in “The Day Traders Almanac”.

• This is an open forum, your questions will direct the topics we learn.

Last Week

• Strategy Review

• Multi Time Frame Confirmation

• Pre Setup/ Next Setup

• BB Bottoms and Tops

• Pre-emptive exits

• Building into the trend

• Nuance

This Week

• TRADE EXECUTION

• Examine Real Setups as they develop

• Staying Connected to the Market

• Making the Transition to Funded Trades

• Increasing Leverage

• Pattern Practice

WHAT IS IT??• This course is the result of over 13 years of experience

trading and teaching people to trade the options market.

• It evolved from a need to find an options strategy that could be traded in any market condition.

• It avoids overnight “headline risk” and can be scaled to fit virtually any trading account size.

• This strategy has the potential to generate significant income with minimal time expenditure once it is mastered.

TRADE EXECUTION

Trade Entry• Precise entries are required.

• The order must be loaded and ready to go BEFORE the setup materializes.

• You must anticipate price and delta movement and ensure that the selected option will still meet the requirements when you execute.

• Speed, aggressiveness and efficiency are critical.

Be Ready BEFORE it gets here

SPY Day Trading RULES• What follows is a description of my day trading

strategy specific to the SPY weekly options.

• Due to the compressed time frame of these options, typically seek to trade the nearest expiration.

• Only trade options with a delta of .65 or higher.

• ONLY enter a trade when one of the seven specific high probability “setups” appear

REAL SETUPS

GET CONNECTED

You Can’t Do It Alone• Practice every day!

• When you first start trading this strategy you will make mistakes. Make them in a practice account.

• Journal every trade and review every trade every day.

• Get around like minded people who are successful at this strategy.

What if?

• Many of you have asked for a review class.

• Somewhere we can review the setups and practice our entries and exits.

• Maybe a class that meets three or four times a week to hone our skills and practice our craft?

• Now that you’ve learned the strategy, who would love a chance to meet with me in that kind of a class?

I Already Do That

• The “Morning Lab” is a group of like minded people who meet 4 days a week at the market open to learn and practice trading.

• We do an opening 5 min SPY day trade almost every day!

• We often do multiple SPY day trades per day!

• You can enroll now at https://opentradez.com/product/morning-lab-monthly-subscription/

GOING FUNDED

Real Money

• Making the transition to real funded trades is a challenge.

• After some time you may get really good at unfunded trades but funded trading is totally different….. emotionally

• The key is in mixing the two.

Do Both!

• Do funded and unfunded trades at the same time.

• Take an unfunded position 10x the funded position.

• Move the funded position size up and the unfunded position size down over time.

• Treat both funded and unfunded trades EXACTLY THE SAME!

LEVERAGE!

Careful!

• While it is possible to increase leverage, it should only be attempted by very experienced traders.

• It is ONLY considered if the original reason for the trade entry is still valid.

• The exit of the new larger position can be at a $1000 target instead of a dime….or ….

• The exit can be for a dime, creating more than $1000 profit.

• Stop exits are still strictly enforced.

BONUS PRACTICE!

I am not a registered broker-dealer or investment adviser. I will mention that I consider certain securitiesor positions to be good candidates for the types of strategies we are discussing or illustrating. Because Iconsider the securities or positions appropriate to the discussion or for illustration purposes does notmean that I am telling you to trade the strategies or securities. Keep in mind that we are not providingyou with recommendations or personalized advice about your trading activities. The information we areproviding is not tailored to any particular individual. Any mention of a particular security is not arecommendation to buy, sell, or hold that or any other security or a suggestion that it is suitable for anyspecific person. Keep in mind that all trading involves a risk of loss, and this will always be the situation,regardless of whether we are discussing strategies that are intended to limit risk.

I am not subject to trading restrictions. Myself and other instructors could have a position in a security orinitiate a position in a security at any time.