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Weekly Option Trader
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Created: by Vikings1 Attachments:544

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Weekly Option Trader

  #131 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Hi TL,

Those studies are not related to the Squeeze, they are something else. All my indicators have been shrunk down to three indicators over this weekend thanks to something I stumbled across this weekend when programming my autotrader in Ninja. Something that was in front of my nose for a long time, but I could see it through the trees so to speak until I ran into a programming issue with Ninja.

I play the futures on CL, ES, and now TF, but the weeklies on USO can be a great alternative for CL if you don't have a futures account.

V


Tradelog View Post
Hi V!

I have just been reading your thread and in line with remarks from others, superb stuff, thanks for sharing and posting your trades!

Looking at your charts I am a bit lost however on what lines are on your charts...even though I am trying hard to interpret would you mind texting up on one upcoming chart apart from the EMAs which line is which? This would be much appreciated!

I assume the A and B studies are the Squeeze related A and B waves or are they something else?

Also for CL you are trading the futures market and not the options on CL am I right?

Best

TL


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  #132 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Ranges for today

Ranges for today are as follows:

AAPL $ .79, AMZN $ .38, BIDU $ .28, GOOG $ .92, NFLX $ .21, PCLN $ 1.30, SPY $ .16, IWM $ .11, QQQ $ .08, /CL $ .13(conservative), $ .06(fast, what I will be using), /ES $ 1.00, /TF $ .70, and finally EUR/USD $ .0008.

Good luck today.... CL already has had a nice 62 tick winner to start the day off..

The following user says Thank You to Vikings1 for this post:
 
  #133 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received


Back to playing the weeklies today, no support today from the wife. Therefore, I played the AAPL, AMZN, BIDU and GOOG weeklies today. PCLN had a nice move in it as well, but trading these 4 plus TF & CL I had my hands full.

Charts are posted for the various weeklies.

Oil was better today than yesterday, but still choppy and I am sure it will continue this way until this EU summit is over. 11-10 on the/CL but finished plus 264 ticks.

Summary for oil; I started and went up +62 ticks again but then quickly fell to -90 ticks but next play was a winner for 78 ticks and then I bounced around until my 12th trade. After that I climbed consistently to finish at + 264 ticks. (still playing 4 contracts, ½ off at +13 and trailing the rest until stop out.)

TF unlike yesterday was tuff for me today. I traded TF 9 times today (4-5) and finished the day at + 64 ticks. Best trade +96 ticks, worst trade -60 ticks.

Next two days will be devoted more towards the weeklies than the futures. That said, my autotrading is 75% complete, and is fast becoming a great asset for me. tt now can get me into all trades and take the 1st target off for me as well. Still fine tuning the final trail/exit but soon I will be able to let this baby fly by itself

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Have a great day tomorrow.

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  #134 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Ranges for tomorrow

Ranges for tomorrow are as follows:

AAPL $ .65, AMZN $ .35, BIDU $ .26, GOOG $ .85, NFLX $ .20, PCLN $ 1.22, SPY $ .16, IWM $ .11, QQQ $ .08, /CL $ .12 (conservative), $ .06(fast, what I will be using), /ES $ 1.00, /TF $ .60, and finally EUR/USD $ .0007.

Some big drops from today, just more proof things are getting tight into this damm EU Summit, that will solve nothing.....

The following user says Thank You to Vikings1 for this post:
 
  #135 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

Welcome to the USSA, short MCD long term

Well it is official now "Welcome to USSA"..."United Socialist States of America"....a VERY VERY sad day for this country!!

Watchout McDonalds, Burger King, Pizza shops, ice cream makers, and anyone who manufacturers fatty foods you are all in the crosshairs NOW..... I know I am in the sights of these people, as they hate success in any form, except of course if it's Socialism, oops I meant to say "The Progressive Movement"...

Fantastic day already profit wise, but I trade with an extremely heavy heart and wonder why I even try. I should join the masses with my hand out and mouth open, like the idiots in New Orleans during Katrina....

Get ready for round two sell when the "Anointed One" calms us with his great words of wisdom....

 
  #136 (permalink)
Elite Member
Missouri
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP
Favorite Futures: ES
 
Posts: 76 since Apr 2010
Thanks: 169 given, 33 received


Vikings1 View Post
Well it is official now "Welcome to USSA"..."United Socialist States of America"....a VERY VERY sad day for this country!!

Watchout McDonalds, Burger King, Pizza shops, ice cream makers, and anyone who manufacturers fatty foods you are all in the crosshairs NOW..... I know I am in the sights of these people, as they hate success in any form, except of course if it's Socialism, oops I meant to say "The Progressive Movement"...

Fantastic day already profit wise, but I trade with an extremely heavy heart and wonder why I even try. I should join the masses with my hand out and mouth open, like the idiots in New Orleans during Katrina....

Get ready for round two sell when the "Anointed One" calms us with his great words of wisdom....



 
  #137 (permalink)
Trading Apprentice
Orlando, Florida, USA
 
Futures Experience: Advanced
Platform: eSignal
Favorite Futures: CL
 
Posts: 33 since Oct 2010
Thanks: 1 given, 92 received

Just to summarize my understanding of how you trade the options, you enter based solely on the signal generated by the stock price chart and pay the full spread to get in and out. That's fine. I just wanted to understand exactly what you do.

To summarize your system, until the past day or so, it used to be 6 rules to enter a trade where 4 out of the 6 were reproducible by anyone of the forum followers here. However, the "A" and "B" studies have remained undisclosed. Now, the 6 have been reduced to 3. Either way, what they have in common is that the entry is 100% mechanical as well as the half-off portion, but, you're confident that the trailing stop part to exit the 2nd half is doable also (I agree).

I think this journal has been a personal enlightenment for you because where there once were 6 entry rules, now there are 3 with the same apparent level of success rate (good job!). It has relieved you of some burden/stress in your trading. To the reader, it has at least served as an example of how sticking with a positive edge works over many trades.

Just to get this out in the open now, we may as well mention the 800 lb. gorilla in the room:

Your system is proprietary. Without full disclosure of your entry rules, neither a beginner, intermediate or even another master trader (such as yourself) can trade what you're successfuly demonstrating day-in and day-out. Thousands of pics can follow this post and it will remain improbable for others to replicate.

All that is fine. It is your system and your call to make. I just wanted to get a "you are here" view of the map and state the obvious in case anyone has missed it.

The following user says Thank You to SteveH for this post:
 
  #138 (permalink)
Elite Member
Indianapolis
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: drums
 
Posts: 2 since Jun 2012
Thanks: 1 given, 0 received

Weekly option trading TOS indicators

Hi Vikings,

I'm a new member to this forum. I'm interested in trading Weekly options and very much impressed with your setup.

Would you mind sharing the exact setup and code information?

I've lost tons of money and really frustrated.

Any help in this regard would be very much appreciated.

Regards.

 
  #139 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

I have asked Mike (@Vikings1) to do a futures.io (formerly BMT) webinar on Options sometime towards the end of July or early August. He has agreed, so I know everyone can look forward to that presentation.

Once a more specific date is set, I'll be sure to let everyone know.

I want to thank @Vikings1 for his thread and his time as a presenter.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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The following 3 users say Thank You to Big Mike for this post:
 
  #140 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
Vikings1's Avatar
 
Posts: 188 since Oct 2011
Thanks: 26 given, 407 received


Your are right it is all BS... Never mind the charts, the live calls to some members in here via Skype and why I am down to three indicators as I have already told that story earlier this week and how they came to be.

Good luck!

Keep looking for that magic eight ball!!




SteveH View Post
Just to summarize my understanding of how you trade the options, you enter based solely on the signal generated by the stock price chart and pay the full spread to get in and out. That's fine. I just wanted to understand exactly what you do.

To summarize your system, until the past day or so, it used to be 6 rules to enter a trade where 4 out of the 6 were reproducible by anyone of the forum followers here. However, the "A" and "B" studies have remained undisclosed. Now, the 6 have been reduced to 3. Either way, what they have in common is that the entry is 100% mechanical as well as the half-off portion, but, you're confident that the trailing stop part to exit the 2nd half is doable also (I agree).

I think this journal has been a personal enlightenment for you because where there once were 6 entry rules, now there are 3 with the same apparent level of success rate (good job!). It has relieved you of some burden/stress in your trading. To the reader, it has at least served as an example of how sticking with a positive edge works over many trades.

Just to get this out in the open now, we may as well mention the 800 lb. gorilla in the room:

Your system is proprietary. Without full disclosure of your entry rules, neither a beginner, intermediate or even another master trader (such as yourself) can trade what you're successfuly demonstrating day-in and day-out. Thousands of pics can follow this post and it will remain improbable for others to replicate.

All that is fine. It is your system and your call to make. I just wanted to get a "you are here" view of the map and state the obvious in case anyone has missed it.



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