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Weekly Option Trader
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Weekly Option Trader

  #41 (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

My favorite day of the week...


esby06 View Post
Great Job on your trades. You are doing fabulous.
Can you please explain your chart, where you buy or sell, etc. What are those lines? Im sorry just trying to better understand your style.

Thanks


Hello Esby,

I have attached a few charts of Friday's action, (a very big day) and always my favorite day to trade weeklies.

AAPL plays were very nice, especially that long run in which I got a chance to even add to it.

The lines are part of my personal set-ups, and they are very simple to follow.

Have a great weekend.

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  #42 (permalink)
Elite Member
Minneapolis, MN, USA
 
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Forget the range bars, at least in TOS

Friday was a good day, but it was also a day my wife started trading with me. She got her first two doubles on Amzn, even though we didn't make a lot of money it was a lot of fun.


PS: The range bars might be a nice thing to watch and are a good indicator for potential change, they seem to act very weird for in TOS at times.

I will keep them up, as a reference, but will continue to base all my trading off my set-ups using "tick" bars.

I am going to show one of my hidden indicators and share the CODE for TOS users; (The LaquerreRSI). Note: It is "JUST" 1 of my 4 main indicators. All four have to be in agreement before I will enter an order.

Have a great weekend!



LaquerreRSI Code for TOS:

declare lower;
def gamma = 0.50;
rec L0 = (1-gamma)*close + gamma*L0[1];
rec L1 = -1*gamma*L0 + L0[1] + gamma*L1[1];
rec L2 = -1*gamma*L1 + L1[1] + gamma*L2[1];
rec L3 = -1*gamma*L2 + L2[1] + gamma*L3[1];

def CU1 = if L0>= L1 then L0 - L1 else 0;
def CU2 = if L1>=L2 then CU1 + L1 - L2 else CU1;
def CU = if L2>=L3 then CU2 + L2 - L3 else CU2;
def CD1 = if L0 >= L1 then 0 else L1 - L0;
def CD2 = if L1 >= L2 then CD1 else CD1 + L2 - L1;
def CD = if L2 >= L3 then CD2 else CD2 + L3 - L2;

plot RSI = if CU + CD != 0 then CU / (CU+CD) else 0;

def gamma1 = 0.75;
rec M0 = (1-gamma1)*close + gamma1*M0[1];
rec M1 = -1*gamma1*M0 + M0[1] + gamma1*M1[1];
rec M2 = -1*gamma1*M1 + M1[1] + gamma1*M2[1];
rec M3 = -1*gamma1*M2 + M2[1] + gamma1*M3[1];

def DU1 = if M0>= M1 then M0 - M1 else 0;
def DU2 = if M1>=M2 then DU1 + M1 - M2 else DU1;
def DU = if M2>=M3 then DU2 + M2 - M3 else DU2;
def DD1 = if M0 >= M1 then 0 else M1 - M0;
def DD2 = if M1 >= M2 then DD1 else DD1 + M2 - M1;
def DD = if M2 >= M3 then DD2 else DD2 + M3 - M2;

plot RSI1 = if DU + DD != 0 then DU / (DU+DD) else 0;

plot buy = 0.20;
plot sell = 0.80;


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  #43 (permalink)
Elite Member
san francisco
 
Futures Experience: Beginner
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Posts: 146 since Dec 2011
Thanks: 99 given, 84 received


i have been using your basic concept of enter after the bar has taken out the close of the bar after the signal bar's close, and it has been helping me quite a bit. i don't have TOS so won't be able to use this but am going to study the code and see if i get any clues about yr thinking. am still basically just buying b/o b/d from flags and still boxing my positions - i just like getting in early that way and do find i make a tidy 25-30% on average even after subtracting the loss from the side i have to sell. it works well for long flags which end in little cramped bars & dojis. AMZN was crazy on friday! but u know what, i ended up not trading it at all! bc i started the day with the fine idea of shorting the oom puts, then, i don't know, i guess i was just burned out or something, i just could not pull the trigger. crazy! i ended up buying and selling the same spy option for about +7% and quitting the day early.

that must've been fun to get your wife in on it. one day i want to do the same with hubby. my dad is v sick so am trading hardly at all but did bag some good ones on AAPL last wk - i have no time to prep any charts - when i hvae time i just check on aapl see if there's a good flag, if not shut down. i bet next week there's gonna be a move one way or the other. 552 or 620 which shall it be? i guess we will find out soon enough!

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
 
  #44 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
Favorite Futures: Weekly Options
 
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Posts: 188 since Oct 2011
Thanks: 26 given, 407 received


Maisie View Post
i have been using your basic concept of enter after the bar has taken out the close of the bar after the signal bar's close, and it has been helping me quite a bit. i don't have TOS so won't be able to use this but am going to study the code and see if i get any clues about yr thinking. am still basically just buying b/o b/d from flags and still boxing my positions - i just like getting in early that way and do find i make a tidy 25-30% on average even after subtracting the loss from the side i have to sell. it works well for long flags which end in little cramped bars & dojis. AMZN was crazy on friday! but u know what, i ended up not trading it at all! bc i started the day with the fine idea of shorting the oom puts, then, i don't know, i guess i was just burned out or something, i just could not pull the trigger. crazy! i ended up buying and selling the same spy option for about +7% and quitting the day early.

that must've been fun to get your wife in on it. one day i want to do the same with hubby. my dad is v sick so am trading hardly at all but did bag some good ones on AAPL last wk - i have no time to prep any charts - when i hvae time i just check on aapl see if there's a good flag, if not shut down. i bet next week there's gonna be a move one way or the other. 552 or 620 which shall it be? i guess we will find out soon enough!


Hello Massie,

The one nice thing about day trading, I really don't care where AAPL, or the market goes, and right now it is in LA LA land. The line in the sand, IMO is $ 599.50, a 50% FIB from the past hi/lo of April, which also means if it breaks 610 (61.8% retrace Fib), then 624.95 (78.5% Fib), or even 631.33 would be up next. If it breaks 599.50, 565.84 would be my first target (55ema).

PS: Inside candle on BIDU (go long at 135.13, short at 133.39)
Inside candle on GOOG (go long at 616.74, short at 610.60)
Double-top on PCLN??

PSS: I hope your father get's well soon.

Take care and have a great Sunday..

V

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  #45 (permalink)
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Futures Experience: Beginner
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Posts: 146 since Dec 2011
Thanks: 99 given, 84 received

tx! got my levels & alerts set in my charts, contracts loaded up, ready to rock & roll. goog looking strong pm in comparison to some of the others which r anemic! gl & gt this wk

Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
 
  #46 (permalink)
Trading Apprentice
Seattle, WA
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: ES, SI, GC, options
 
Posts: 28 since Sep 2011
Thanks: 19 given, 4 received

good morning.

Would you mind sharing your basic concept please?

Thank u

 
  #47 (permalink)
Elite Member
Minneapolis, MN, USA
 
Futures Experience: Master
Platform: ninjatrader, TOS
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Posts: 188 since Oct 2011
Thanks: 26 given, 407 received

A good day for a Monday

“Every strike brings me closer to the next home run.”
― Babe Ruth

Some nice trades in AAPL, AMZN, PCLN, stop out ounce in AMZN, but jumped back in when it re-set.

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  #48 (permalink)
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esby06 View Post
good morning.

Would you mind sharing your basic concept please?

Thank u

This is a set-up I probably spent two years working on. But basically it involves getting long/short entries from both "my set-ups" M & C entry points and a cross of the LaquerreRSI above .20 (up), or .80 ( down)...

All three MUST be in agreement or no entry!

One example was AAPL this morning I had long entries posted but NO LaquerreRSI cross above .20, therefore NO entry and you can see on my posted AAPL chart around 9:49 am CST.

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  #49 (permalink)
Trading Apprentice
chicago il USA
 
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Favorite Futures: /ES
 
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CHART PICS...

thx for sharing pics VIK......

I was reading your thread and notice you use 3 indicators for confirmation of entry and exit.....

I am currently using 5......
Iowever ....
I have managed to combine them all to give the signal.....
Wondering if that is how you are trading......?
Using one indicator ......with all 3 combined for signals....

 
  #50 (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



Gisfor View Post
thx for sharing pics VIK......

I was reading your thread and notice you use 3 indicators for confirmation of entry and exit.....

I am currently using 5......
Iowever ....
I have managed to combine them all to give the signal.....
Wondering if that is how you are trading......?
Using one indicator ......with all 3 combined for signals....

No I want to see the action of my three indicators; it gives me a heads up that a reversal is coming.

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