NexusFi: Find Your Edge


Home Menu

 





Using Options for Swing Trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Bermudan Option with 184 posts (116 thanks)
    2. looks_two dynoweb with 3 posts (2 thanks)
    3. looks_3 mwtzzz with 3 posts (3 thanks)
    4. looks_4 Cogito ergo sum with 2 posts (1 thanks)
      Best Posters
    1. looks_one optiontrader767 with 4 thanks per post
    2. looks_two SMCJB with 2.5 thanks per post
    3. looks_3 mwtzzz with 1 thanks per post
    4. looks_4 Bermudan Option with 0.6 thanks per post
    1. trending_up 41,033 views
    2. thumb_up 140 thanks given
    3. group 30 followers
    1. forum 206 posts
    2. attach_file 38 attachments




 
Search this Thread

Using Options for Swing Trading

  #121 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471


Bermudan Option View Post
Jumped into STX. 5 Contracts because of the high PPS. I really liked how fast the APOL trade turned profitable and so I am working on increasing the PPS on my trades and looking at a IV of over 0.4 percentile.


That was quick


Gonna try and hold onto this position for a bit though. Overall trend is pretty nice. Check out the Weekly chart:

Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Build trailing stop for micro index(s)
Psychology and Money Management
Exit Strategy
NinjaTrader
ZombieSqueeze
Platforms and Indicators
Futures True Range Report
The Elite Circle
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #122 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Using the 1min chart to gauge the volume:
Holding for now although because of overall volume such as the annotated spike, but there might be a potential pullback @ the $49 level:

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #123 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471


Grabbed 12 ct of MGM. Looking for an ascending triangle breakout:



Might have been a little premature in my entry. Will look to get back in if I get stopped out probably. Could have used a $0.20 stop instead of the $0.15 but I think subconsciously I was slightly greedy and wanted to use a lot of size since the market has been going my way lately.

Can't hold onto this trade long term either way because the Earnings Report is set to happen in like a week and a half. Hopefully the stock doesn't trend sideways and stick near resistance until the Earnings Report.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #124 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471


Bermudan Option View Post
Using the 1min chart to gauge the volume:
Holding for now although because of overall volume such as the annotated spike, but there might be a potential pullback @ the $49 level:

Got the hot hand right now with my analysis. I will ride it as long as I can, but I know I am gonna start telling myself to increase my size so I will have to keep an eye out on my trades to make sure that I am still using a trader's mindset prior to entering positions.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #125 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Grabbed some ATVI. I think that I am done for a while now. Very extended to the upside in case you haven't noticed



FWIW for this trade, I used the $0.20 stop instead of the $0.15 stop so I sacrificed position-size for stop-size

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #126 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Completely flat on STX.





A part of me could have waited for that 1min trendline at the current price level to actually be broken but I got a little trigger happy when price started to stall. Since I had already taken profits, it was better for me to just completely exit the trade rather than keep scaling out.

With this trade, I liked that I manged my position by zooming in to a short term timeframe. The long term trend played out, but the short term trend is what kept my expectations neutral or from getting too antsy. Providing a context that I use to view the market is the biggest thing imo. I don't get scared as a result when the market pulls back to a trendline for example and/or I get nervous if the market starts moving parabolically as well.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #127 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Might be overstepping my boundaries but trying my hand in a little day trading here:

R:R Ratio could be better admittedly. Anyways the options expire today so this is definitely gonna be exited for a profit or loss when the clock strikes closing time

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #128 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Last trade of the day. Using a weekly option here, because it doesn't take long for me to be proven right/wrong w/ the tight ascending triangle formed on the daily. :


Not really expecting a breakout today. Potentially a gap higher on Monday's open maybe? Definitely want som Oil exploration exposure since I closed that SD position out prematurely.

Pretty sure I am done opening any new positions for the day now. Two of my accounts ran out of buying power anyhow, and I will have two day trading strikes against me in my 2ndary account after I close out my STX trade by the EOD


NEXT WEEK

Looking to fade Gold using a calendar spread on Monday: Gonna be selling the weekly option and buying the Dec strike price. I was up $700 on my last GLD trade and gave it all back + $90 because of volatility leading up to the Fiscal Budget deadline. Nothing in the future to stop GLD's decline now :evil laugh:

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #129 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471

Flat on STX again. $44 before commission so like $20 profit. Meh. First time using a market order to exit the market in forever. I felt so dirty lol.


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #130 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471



Bermudan Option View Post
Grabbed some contracts of MSI. Since the PPS is so large, I could only muster 4 ct for my $200 incl commission stop loss:


Got stopped out of this yesterday. Forgot to mention that.

Visit my NexusFi Trade Journal Started this thread Reply With Quote




Last Updated on October 23, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts