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Et tu NQ: Trading the Nasdaq e-mini


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Et tu NQ: Trading the Nasdaq e-mini

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  #41 (permalink)
 Bermudan Option 
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Have another new job. This one lets me do what I please if there is no work to do. I am using this time to paper trade options. I believe that I can trade futures but my trading strategy works best if I can put on trades, set stop losses, and move onto the next chart. With futures, I was only trading the /NQ and forcing a lot of trades that weren't optimal.

Once I double my account, I will go live. Money Management is key


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  #42 (permalink)
 Bermudan Option 
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Going 'live' with my paper trading this week. Using optionsXpress because they have the best web based option simulator imo. Their site forces you to create a trading account in order to use it, but I have an old link that allows you to use the simulator without funding an account. PM me if interested.




Also, another sweet thing is that they allow you to set your starting capital. I will have $4,000 when I start IRL so I will papertrade with the same amount.

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  #43 (permalink)
 Bermudan Option 
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Bought 4 March38 Puts (guessing the stock will go lower) on JCP @ 0.71. The retail sector has been the market new leader but JCP is a laggard. I will have to lock in profits as I go if the retail sector continues to move higher because that would make JCP prone for a bounce higher.

On the Daily, this area has been low volume and only one big up day cleared this area. To me, it is the equivalent of a gap higher and so it should drift beyond this point with little/no support showing up. Looking for it to head to the 36/35 pps level.





Regarding my entry today, I entered on a test of a trendline on the 10m timeframe starting at 11am on Thursday last week:




I have an automatic stop in place where the options will be sold if the stock heads above 37.93. I got stopped out on a relief rally earlier today so I am in the whole about $80 after commission at the moment

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  #44 (permalink)
 Bermudan Option 
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The trend is still lower for JCP. The trendline is being encroached upon but that means that I will look at price horizontally and look for a break of regular resistance as the stock trends sideways. Even though the trendline is on the verge of breaking, the stock can still consolidate through time before heading lower.

However I ended up buying the front month options (options that expire this month) when I thought I had purchased the back month options (options that are two expiration periods away). That means that the options are losing extrinsic value at a rapid rate so i want to sell these ASAP because I cannot afford to let the play develop like I should

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 Bermudan Option 
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Got the move I anticipated but managed to lose money...


Was in a rush to get out of my front month options and exited prematurely because I don't have real-time volume at work. Also, bought the proper options too late and sold for a loss. Ended up taking a loss due to inflated volatility after the strong move lower. Still, got the call right and next time I won't make the same mistake.


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  #46 (permalink)
 Bermudan Option 
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Alright. Some more DD on hump day:

ARO bullish on this. Looking for a bounce off the trendline on the 30 m timeframe for a potential entry



BKS Bearish on the stock. Looking to go short on a retest of the high (or anything near $14.5), or a breakdown of the current support at $14.



and a zoomed in pic to break it down the distribution better:



KMX – bullish on this one. Strong uptrend on the daily and looks to be breaking through the top of a channel, ready to head into higher highs. On the 30m timeframe, it gives a nice trendline that can be used for a potential entry. Potential stop under 34.10 because that would suggest a lower low on the shorter timeframes. I can enter on a pullback there or a pullback to the 34 level

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  #47 (permalink)
 Bermudan Option 
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Grabbed 4 KMX April 34 calls @ 1.50 when the stock tested the $34.10 range like I had hoped. Looking good so far today. Contigent stop in place if the stock sells off below 34.05 though

BKS is breaking down like I hoped, spread was too wide tho and I tried to split it and got left behind. Ah well

ARO ran early in the morning and I haven't been looking at it since. Kinda pulling back but I want even more before I enter

JCP. Not on my radar but I know it can move lower before stopping so I will take a look at its chart again when I get some time

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  #48 (permalink)
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Just went long 6 April 36 puts for JCP on a retest of the current HOD around the 36.85 area.

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 Bermudan Option 
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here is what I am working with intraday:

KMX




JCP:




Oh yeah, and my bad about all of the random different charts. At work, I can only use free browser based brokers for live feeds. No damn volume unless it is delayed 15m tho

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  #50 (permalink)
 Bermudan Option 
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JCP rallied into the close last night. Made me a little nervous coz that is generally a bullish sign but so far so good today:





As for KMX. It is showing weakness with the rest of the market but is still holding its own.

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