Don’t look at P&L, Trade the setup, not the P&L
I typically try to buy time or if a day trade contracts with strike prices near my first or second price targets and good volume/open interest
Unless I am very very confident I don't like to trade 0dte with strikes out the money
Aim for a Risk-Reward of AT LEAST 1.2 With an ideal Risk Reward of 1:3
Enter near a Volume Shelf or break from a Volume Shelf
Often times Volume shelfs and fibs corelate with ORB(open range breakouts)
I use Volume Shelfs as they indicate where price is heavily fought on by buyers and seller and if I see a large move stop there I can assume buyers/sellers have entered
Find stocks showing movement before there corelated index. Such as getting NFLX calls if NFLX shows strength and NASDAQ/QQQ is showing signs of a reversal to the bull side. Same for bearish plays
Look for plays that have potential. If a ticker has made a large move up why get calls? don't FOMO, play a chart and don’t chase. Look for where there is more opportunities and play those.
Look for confluence across multiple time frames. Higher Time Frames means larger moves. Use the lower time frames to try to get really good entries on reversals or plays before they break out.
Look to entry between the GOLDEN ZONE (.618 & .65) or the (.786)
.618 & .65 set the color to yellow .786 as burgundy can use it for later entries
Can use the .5 for confirmation on entries