Click here for an example of Taylor's Chart settings.
While Taylor believes there is a time and place to benefit from the leverage of long calls or puts, he prefers selling credit spreads because they further open the probabilities of profit in his favor. He has found more peace of mind from utilizing this strategy —probabilities, peace of mind, profits.
Options expirations depend on the setup Taylor is looking to trade. Expirations on bigger time frame squeezes differ from those on lower time frames. For price (strike) selection, Taylor uses the Exponential Moving Average (EMA) as a reference, so he can maintain a good risk-reward ratio.
Taylor's position size varies depending on the length of his trades. Iron condors and hourly squeezes have a smaller position size than longer term swing trades such as daily or weekly squeezes. He also limits how many swing trades he takes at a time.
-Taylor has been fully committed to trading for 10 years.
Trading is a game of probabilities, and the probabilities guarantee that there will always be losing trades. Accepting that they are part of the game is half the battle.
Short-term memory, long-term vision! Taylor focuses on trading high-probability setups that can lead to profitability over the duration of the entire trading experience. The losses scattered throughout the process are to be expected.