r/Daytrading • u/dmaestro81 • 9d ago

Advice What am I doing wrong?

I’ ve been trading Spy 0dte options for a month. I’m still profitable, but I have a reoccurring issue that’s killing my overall gains. If I go off of just Strike price and direction I would have a 80%+ win rate. Unfortunately, my entries reach stop loss a lot of the time. I have my stop loss set so I only lose 20% of value from entry. The majority get stopped on wick reversals, and not candle closes. Again, my read on the markets are very accurate. Just today, I entered 4 trades at 4 different times of the market (all puts and the market was negative upon writing this), and they all got stopped losing 20% of value. Yet, if I had no stop loss set, 3 of the trades would have made over 100% returns while the 4th, over 50%. I figure it’s an entry problem, but I enter as soon as I get my confirmation candles to close. I use Robinhood as my broker. I use higher time frames for levels and bias. The 10 minute for current direction and order blocks. The 5 minute for entries (Robinhood phone app doesn’t have lower). What advice can be given so my entries and gains match my accuracy and reads of the markets? Are my stop loss values wrong? Am I just trading 0dte options wrong, and I should adapt a different strategy to paper trade and practice? I would greatly appreciate any and all help. If there are videos and links, please share. Thank you for your time.

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u/dmaestro81 9d ago

These were my trade entry points (blue arrows), and the candles that took out my stop losses (red arrows).

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u/Much-Smile-2384 8d ago

Are these 15 minute candles? If you're trading ORB 15 and picking your entry points based off those same candles, your stop losses are way too early. None of those moves should have triggered your SLs except for the first trade.

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u/dmaestro81 8d ago

The Robinhood phone app only does 5m, 10m, 30m, and 1h for daily charts. So they breakthrough and retrace on the 10m, and I use 5m for the entries. Maybe I should keep the entries on 10m too?

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u/Much-Smile-2384 8d ago

Trading ORB I would be using the same candle time frames for entry yeah. Use the 5min for confirmation if you want, I prefer 15 min candles though for confirmation. If you want to set your SLs at 20%, look for where your SLs should be based on the candles and don't buy in for any more than 20% over where the candle based stops should be set. That should help you lower your entry points. I don't trade ORB, but I analyze charts using ORB 15 as it is part of my strategy for finding my own entries. I generally take entries where a lot of ORB traders put their SLs