Trading Strategies

Recently, I have been pondering about the different ways to trade profitably through the use of equities. As no one can accurately predict the future of the NYSE, it would be best to find as much edge as we can to increase the probability of winning a short-term trade (30-90 days). In the past, I have tried timing the market - by waiting for the market to have "bottomed-out" or have "topped-out" and entering a high-risk trade against the market's trend using derivatives. While losses and rewards are typically of larger than average numbers (-50% thru +150%, it requires a significant amount of time to keep up with the stock and overall direction of the market throughout the day. Given my recent spike in travels and the need to be present for other important matters, I will not be able to continuously watch the equities and futures market as closely as I was able to in the past. Previously, I was trading a strategy many called "the wheel." This was essentially the use of stock options such as Cash Secured Puts (CSPs) to either earn just a premium or open a stock position at a slightly lower than market cost basis AND Covered Calls (CCs) to either earn just a premium (lowering cost-basis overtime) or close a stock position at a slightly higher than market price. Without going into much of the strategies on this post, I am currently trying to improve the wheel method to maximize returns while decreasing risks - meaning new metrics to identify when it is the right time to open or close both stock and stock option positions.