 Welcome everybody. This is Hari Swaminathan from optiontiger.com. I wanted to announce my newest course coming up in the end of November called Day Trading with Options. Now one of the areas that is of most interest to options traders and I receive tons of emails on this topic is about day trading with options and that's for good reason because options do provide a high reward low risk environment for day trading. But day trading is not simple and day trading has its quirks and so understanding these quirks and understanding and being realistic about what the issues are and understanding the risks is key and once you do that then you truly present yourself to a high reward low risk environment using options in a day trading environment. So that's exactly what this course is about. We're going to look at all the details and I wanted to give a quick preview in this video and talk about day trading with options in general, the best practices and so on and so forth. My name is Hari Swaminathan again and if you've seen any of my courses you probably know a little bit about me. I'm the founder of optiontiger.com and I have over 30,000 students on Udemy itself with about 4,000 plus reviews and I've been an option trader for about 10 years now and I have a bachelor's degree in engineering from India and I have an MBA from Columbia Business School. I quickly want to show you a little bit about my Udemy channel in case you're not familiar with my profile. On the Udemy channel if you click on my picture on the top right you'll be able to view my profile. Here you can see I have 31,000 students with 4,000 reviews and 29 courses. Now I do have the full profile can be read once you click on the show full biography and I urge you to take the time to read it if you're new to options or if you're new to what I teach and how I teach so because there's a lot of information there and it's important information everybody should read it. The order of courses also if you're interested is also listed on my profile page. So without further delay let's talk about what you can expect to see inside this course day trading with options so I'm going to give you a bunch of details in this preview video so you know exactly what to expect once the course is released. So first of all we have to understand the nature of day trading properly and what are its best practices so when we say nature of day trading day trading as I said can be noisy so what exactly do we mean by that is now when you look at various charts obviously the longer the time frame you look at the more the chart is coherent in the sense that if you look at a one month chart as opposed to a one week chart the one month chart gives you a better sense or a better perspective of the trends of the strength or the weakness or the momentum so as your time frame goes down the nature of charts itself becomes a little bit more noisy and so that actually makes it a little bit more difficult to get the right signals and take the appropriate actions but there is a method behind it as well and so you have to develop a set of best practices that are very specific to day trading and so we will be discussing these aspects of day trading at the beginning of the course itself so we are very realistic about what are the pluses what are the minuses so that we can take action to tackle the minuses. Next as many of you know weekly options have come up in the last few years and weekly options have become extremely popular and so these weekly options offer new opportunities in day trading simply because these options are not very expensive and therefore if you wanted to buy a call or a put it's much much more easier or much much less expensive and therefore that reduces your risk itself. Now I will be talking about the live trade examples later but basically most stocks at least the liquid ones have weekly options now in the case of SPX which is the index itself they have now you have Monday expires Wednesday expires and your regular Friday weekly expires and so you get a lot more flexibility with the SPX options and will be doing one of those in the live trade examples as well but even if you don't have or if the SPX is too big for anyone then you can do weekly options on any of the stocks and it actually offers a lot of opportunity for some good high reward low risk setups. So most stocks do have weekly options the big ones the very liquid ones but in case you're dealing with a stock or an industry that is very specific to your particular knowledge then you can use monthly's as well or you can use monthly's if you just don't like the very high energy setup for day trading but you do want to get into short term trades maybe a day or two or three then certainly by all means you can use monthly's as well especially if there are time constraints on your ability to monitor the markets the next point is actually the most important one as you can imagine if you're going to be in a trade for it could be a few minutes it could be a couple of hours it could be six hours and it could go to the next day as well so because of the short time frame you can understand that trade entry is the most critical element because if you get that right then you're immediately poised to get the trade into a successful position and so the trade entry is absolutely the most critical element and we'll be covering quite a bit of time and effort on this particular aspect in this regard I'm going to show you two different chart setups for a high probability entry so what we mean by high probability entry is you're going to look at certain indicators and we're going to customize some of these indicators and get us the most high probability entry as possible so if you consider yourself a 50-50 to begin with then we want to push that probability to about 70, 75, 80% so that we give ourselves the best chance for success with the trade now as we know there are hundreds of indicators if not thousands and so if you may have a particular indicator then you want to work with that but I'm going to show you a combination of two different chart setups that give a very high probability entry in my experience and once your chart setups are set up for a high probability entry then what you want to do is look for the ideal market index or a stock setup for an intraday trade and believe it or not every single day there is at least one or two or three such high probability setups that come up in the market maybe even more sometimes when the market is very volatile however on any given normal day you should see at least one or two of these very high probability stock setups for an intraday trade and so with the combination of the chart setups for a high probability entry and then the ideal stock setup we are now increasing our probability even higher for a successful trade and of course with any kind of an options trade you want to properly assess your position size you want to do proper trade management and of course risk management because day trading is a high energy setup and while your trade can be successful for the first 10, 15, 20 minutes or maybe one or two hours things can change because intraday trading is just that's the nature of intraday trading and things can change and therefore you want to be able to apply proper trade management and risk management principles and so we will be getting into all of that and what are the adjustments for day trades in case things go wrong or even if things go right because you want to be prepared for both instances and you want to be able to be prepared with your adjustments now fortunately the day trading involves very simple adjustments because that's the nature of day trading you don't want to sit there and create some complex position out of your day trades and therefore in general day trading is much more simpler and even if your time frame is not a day trade and if you don't have the time to look at these trades you can always go into a weekly option or the next week but you can apply the same principles to those kinds of trades as well so these adjustments are going to be simple if you've never traded options or if you don't know much about options and you're watching this video then I would recommend the options beginners bundle the three course bundle and perhaps the spreads bundle as well technical analysis of course is important so you would want to know about charts and patterns and chart reading skills and things like that and some basic indicators so I'll be showing you all of that in this course itself now finally there'll be live trade examples so I think we'll be doing maybe two or three trades I do want to take the SPX as one example because the SPX offers some additional advantages over a regular stock when it comes to day trading just because the expires are just so much more flexible however we'll be doing a stock as well we'll be doing an SPX trade and perhaps maybe one or two more as well depending on the situation and so you'll get a good flavor for some live trade examples and probably one of them might go wrong and you'll see some adjustments as well so these live trade examples will actually be quite interesting so this is a very exciting course because day trading with options is very very exciting it's high energy environment and there is a lot of potential for high reward with very low risk and so we'll be covering all of that in this material so this is just a preview video and if you can check your email you'll get some other emails on this course and the promos behind it thank you for watching this video my name is Hari Swaminathan I look forward to seeing you inside this course thank you