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Weekly Option Trader

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  #1 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Though not my style, I have decided to join Big Mike's Trading Journal forum. I am a professional daytrader who specializes in trading weeklies in 9 stocks (AAPL, AMZN, BIDU, GOOG, NFLX, PCLN, SPY, QQQ, IWM). I also trade the ES and EUR/USD.

I am been trading for over 10 years now and what I have put together after 30,000 to 40,000 hours of hard work is very powerful, yet stress free and very easy to trade off of.

My system will also work on all time frames with my parameters:

Rules:

Wait for a "long/short entry" to be posted.
Wait for the next bar to close above/below the "long/short entry" that was posted. (dotted yellow "long", white "short")
Buy/short at the break of that close

PS: For those who are wondering about winning percentage; in the last 22 trading days I have had 225 wins (with over 80 of them being BIG wins) and 56 loss/breakevens; or a winning average of 87.1%. Believe it or not (I don't care), but as the days go by you will be able to see the results as they happen on the charts I supply.

Note: My favorite time period is 15 min. as I am looking for longer runs and I don't like being the first guy out of the foxhole.

I hope you enjoy the journal and I will try to make it a nightly thing from here on out.

Vikings1

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  #3 (permalink)
 David_R 
San Jose, Ca
 
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Vikings1 View Post
Though not my style, I have decided to join Big Mike's Trading Journal forum. I am a professional daytrader who specializes in trading weeklies in 9 stocks (AAPL, AMZN, BIDU, GOOG, NFLX, PCLN, SPY, QQQ, IWM). I also trade the ES and EUR/USD.

I am been trading for over 10 years now and what I have put together after 30,000 to 40,000 hours of hard work is very powerful, yet stress free and very easy to trade off of.

My system will also work on all time frames with my parameters:

Rules:

Wait for a "long/short entry" to be posted.
Wait for the next bar to close above/below the "long/short entry" that was posted. (dotted yellow "long", white "short")
Buy/short at the break of that close

PS: For those who are wondering about winning percentage; in the last 22 trading days I have had 225 wins (with over 80 of them being BIG wins) and 56 loss/breakevens; or a winning average of 87.1%. Believe it or not (I don't care), but as the days go by you will be able to see the results as they happen on the charts I supply.

Note: My favorite time period is 15 min. as I am looking for longer runs and I don't like being the first guy out of the foxhole.

I hope you enjoy the journal and I will try to make it a nightly thing from here on out.

Vikings1



Vikings,

I've been wondering about options myself. Are they less risky than futures? Sometimes I think the analysis of a single underlying is not as difficult as trying to anticipate the actions of say the ES.

Are you trading simple methods such as directional calls and puts, or verticals, or do you get very exotic?

David

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  #4 (permalink)
 timmyb 
duluth,mn
 
Experience: Advanced
Platform: ninja,thinkorswim
Broker: Amp-Zenfire
Trading: ES,Options
 
Posts: 653 since Feb 2010
Thanks: 81 given, 1,360 received

Wow this is great, I trade weeklies in the SPY, though not as successful as you, I jsut saw this thread and went wow someone else who likes weeklies, AND to boot i am from duluth minnesota, Would love to chat sometime. Crazy small world

Will definitely follow this thread

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  #5 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
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David_R View Post
Vikings,

I've been wondering about options myself. Are they less risky than futures? Sometimes I think the analysis of a single underlying is not as difficult as trying to anticipate the actions of say the ES.

Are you trading simple methods such as directional calls and puts, or verticals, or do you get very exotic?

David


David,

IMO, "Weeklies" can be MUCH more volitale than Futures, but also much more rewarding if your set-ups and trading rules are SOLID.

Since I am a simple man and most of my buys are simple calls & puts. I will do verticals on swing trades sometimes, especially if the market is not in a solid trend. I am not like the smucks on CNBC who love to hear themselves talking about Iron Condors, Butterflies, Straddles and so on.

My attitude is you better know where it is going, or at least a very good idea, or you should not be buying it.

Take care.

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  #6 (permalink)
 Lornz 
Oslo, Norway
 
Experience: Advanced
Platform: CQG, Excel
Trading: CL
 
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Posts: 1,198 since Apr 2010

What no CL daily options? Where's your sense of adventure?

I'm also a buyer of options on a swing basis, but I'm often embarrassed to admit that. It seems one should trade double flies to be titled an options trader...

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  #7 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received


Lornz View Post
What no CL daily options? Where's your sense of adventure?

I'm also a buyer of options on a swing basis, but I'm often embarrassed to admit that. It seems one should trade double flies to be titled an options trader...


No need to play around in oil when I can have a weekly double or triple in less than an hour.

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  #8 (permalink)
 timmyb 
duluth,mn
 
Experience: Advanced
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Posts: 653 since Feb 2010
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I am really excited for this journal, I have been trading weeklies off and on for a long time. Its amazing that a good trade in weeklies 100% is nothing. 100 point on the dow can be a double or more on the spy. Just great to see another options trader.

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  #9 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
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Trading: CL,NQ,YM
 
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Interesting to see. So no calendar or exotic spread trading. Are all those indicators you have on freely available (assuming one has a TOS/TDAmeritrade account) on ThinkOrSwim? They look like Tom DeMark. TD Setup for the entry yellow dotted line?

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  #10 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received



Cloudy View Post
Interesting to see. So no calendar or exotic spread trading. Are all those indicators you have on freely available on ThinkOrSwim? They look like Tom DeMark. TD Setup for the entry yellow dotted line?


Some of these studies are available on TOS, "Sequential", some aren't, and unfortunately all have been modified by me with specific parameters and additions. I do not use Sequential to Setup for my entry...(for some people it can be, but it is not used for my entry). But I do use it to help me determine when to get out of a trade though.

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 Cloudy 
desert CA
 
Experience: Intermediate
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Trading: CL,NQ,YM
 
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Thanks, looking forward to seeing this journal. I've tried daytrading with options but hadn't tried weeklies except by accident.

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  #12 (permalink)
 Bermudan Option 
Chicago, Illinois
 
Experience: Intermediate
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Posts: 555 since May 2011
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nice to see someone trading options. With the weeklies, do u trade in at or out of the money? Also, I am guessing you are strictly long calls/puts... or do you use spreads, even if just to limit a loss?

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  #13 (permalink)
 optionzen 
Dallas
 
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Thanks for starting this journal and taking time to help others. I hope to learn from your experience.


Sent from my SAMSUNG-SGH-I727 using Tapatalk 2

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  #14 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
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Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Today was another fun day and the market let me to play.

Four out of five today.

Trades:

AAPL $635 Calls @ $ 2.30 they went to $ 3.00, but I sold them at $ 2.00 after the moved quickly failed.
Small Loss

AAPL $620 Puts @ $ 2.20 sold them at $ 4.00 when they hit my target (a past month FIB @ $ 621.45)
Nice Win

BIDU $150 Calls @ $ 1.00 sold them at $ 2.20 when it finally got to R3 ( I use Woodies Pivot instead of standard pivots.
Nice Win

SPY $138 Calls @ 0.50 sold them @ $ 1.00 when moved tired and started showing weakness.
Nice Win

ES In @ $ 1,374 still in with a stop at $ 1,384 (10 points locked in)
Nice Win

No plays in GOOG (options over priced due to earnings), NFLX (took off before open), PCLN (also was running before open, never let me in), AMZN (missed a small buy due to already being in SPY, ES, AAPL, & BIDU).

Take care and have a great night.

Tip of the day: Watch the high and lows of the first 30 minutes, a break of either can usually be bought or shorter. (The thin red/green lines on my charts, I always pay attention to them).


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 Maisie 
san francisco
 
Experience: Beginner
Platform: Interactive Brokers
Trading: stocks & options
 
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Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.

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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
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Maisie View Post
Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.


Hello Massie, you might be right in regards to teaching me anything new, but I always have an open mind. Thank you for the comments and have a great night. Love the Bay area.

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  #17 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
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Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Bermudan Option View Post
nice to see someone trading options. With the weeklies, do u trade in at or out of the money? Also, I am guessing you are strictly long calls/puts... or do you use spreads, even if just to limit a loss?

I always trade just out of the money (1 to 2 strikes) on the weeklies, (this can be VERY rewarding especially on Thursday and Friday plays; but you better have a real good idea where the option is going). I am strictly long call/puts and rarely use vertical spreads (though they can be very useful on "swing plays" over night).

Tip: On Friday's you will find a lot of these weeklies love to finish on, or very near, a strike.

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 Maisie 
san francisco
 
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Viking1, where have you been all my life? i have been daytrading weeklies and monthlies for the past 5 months with irregular results. no time to read right now - got to get the evening going - but can't wait to read yr journal. mine is "maisie's journal" - but u might not want to waste yr time. i am quite the beginner and doubt my chatty journal will contain anything u haven't worked out already. but it exists, for what it's worth.

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 Maisie 
san francisco
 
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*and* my mother's family is originally norwegian; my ggmother settled in minneapolis. so we are both vikings!

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 timmyb 
duluth,mn
 
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I know a method i like on SPY weeklies is to wait until the spy is inbetween strikes. IF the spy is at 130.50 id either be going long for the 131 calls or going short buying 130 puts. I am not sure why I wait for a split. Its going to be fun to converse with some options traders on this thread.

and just for fun here is the 138 calls synced to the spy. Mainly for those who may not know how options correlate to underlying ect. along with the volume for some puts and calls


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  #21 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
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1) Do you trade the expiring contract on Fridays, or do you already start trading next week's contract on Fridays? Or do you just look at where the volume is?
2) Do you ever use synthetics? IE, if you want to be long, buy a call and sell a put. Greatly increases leverage and risk.

Have you ever considered the lottery ticket approach with strangles? Look at AAPL today (Friday). The 14-day ATR is 13.3, so I'd look for strikes at +/- 13.3. AAPL It opened at 624. The expiring contract's 610 put opened at 0.29 and the 640 call opened at 0.13 for a total outlay of $42 for 1 contract each. Over an hour later, with the underlying at 604 now, the call is 7.8 and the put is 0.03 for a total position of $783 for a total 1,764% 1-hour gain. You make +2,589% gain on the put and lose 77% on the put, but your gain is still huge. This only works well when a) range expands and b) you're paying for little theta since it's expiration day.

The nice thing about options is gamma is on your side when a trade, or a leg of your trade, goes in your favor, so your losers lose more slowly when things move against you and your winners gain more rapidly when they move in your favor when trading ATM or OTM. With almost no theta left on opex day, the options are heavily underpriced if it is a volatile day.

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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Today was another fun day and my favorite day of the week to play “Weeklies”.

4 for 4 today.

Trades:
AAPL $615 Puts @ $ 1.63 they went they got to $ 6.65, and unfortunately they ended up running to S3 and a high price of $ 11.85. That said I am happy as I had 50 of these.
Nice Win

AMZN $190 Puts @ $ 1.40-$ 1.45 sold them at $ 3.20 when it finally got to S1 (Took a chance on this as it had already been a short before open, but market was weak and I was already short the EUR/USD).
Nice Win

SPY $138 Puts @ 1.06 sold them @ $ 1.50 when it too got to S1.
Nice Win

EURO In @ $ 1.3137 sold them finally @ $ 1.3077 for 60 PIPS.
Nice Win

No plays in GOOG (already running, didn’t let me in), NFLX (missed the short entry @ 9:45 CST as I was having too much fun with everything else I was in; my mistake as the $ 105 puts went from $ 1.80 to $ 2.50), PCLN (no entry ever given), BIDU (no entry given until 10:30 by then I was done for the day), ES (could have traded it, but I was too busy getting ready for the weeklies; but I should have been it though as I was already short the EURO).

Take care and have a great weekend.

Tip of the day: Have a trading plan and do NOT deviate from it. Your set-ups say buy then buy!


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  #23 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received


shodson View Post
1) Do you trade the expiring contract on Fridays, or do you already start trading next week's contract on Fridays? Or do you just look at where the volume is?
2) Do you ever use synthetics? IE, if you want to be long, buy a call and sell a put. Greatly increases leverage and risk.

Have you ever considered the lottery ticket approach with strangles? Look at AAPL today (Friday). The 14-day ATR is 13.3, so I'd look for strikes at +/- 13.3. AAPL It opened at 624. The expiring contract's 610 put opened at 0.29 and the 640 call opened at 0.13 for a total outlay of $42 for 1 contract each. Over an hour later, with the underlying at 604 now, the call is 7.8 and the put is 0.03 for a total position of $783 for a total 1,764% 1-hour gain. You make +2,589% gain on the put and lose 77% on the put, but your gain is still huge. This only works well when a) range expands and b) you're paying for little theta since it's expiration day.

The nice thing about options is gamma is on your side when a trade, or a leg of your trade, goes in your favor, so your losers lose more slowly when things move against you and your winners gain more rapidly when they move in your favor when trading ATM or OTM. With almost no theta left on opex day, the options are heavily underpriced if it is a volatile day.


Very nice post and I fully agree with everything you stated above. I just posted my plays today, my favorite day to trade weeklies. But again I like to keep it "simple enough that my teenage son can trade them" and thus stick mainly to simple buys of Calls and Puts with very little swing trading. I do not really need to swing trade.

As you will see in my post I obviously trade the expiring contracts on Friday, love too to trade them. That said, trading them is NOT for the beginners as they are VERY risky and move like VERY quick, so your set-ups and trading rules better be damm good/great!

Have a great weekend!

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  #24 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received


timmyb View Post
I know a method i like on SPY weeklies is to wait until the spy is inbetween strikes. IF the spy is at 130.50 id either be going long for the 131 calls or going short buying 130 puts. I am not sure why I wait for a split. Its going to be fun to converse with some options traders on this thread.

and just for fun here is the 138 calls synced to the spy. Mainly for those who may not know how options correlate to underlying ect. along with the volume for some puts and calls


On Fridays there are times where these BIG boys will actually fall exactly between two strikes and it make sense from the stand point you have two large groups of people not wanting to give ground.

As of 12:31 CST AAPL sits at 608.32, AMZN 188.32, NFLX 102.62, QQQ 66.43, SPY 137.74.....so there is a push pull thing going on and all of these might very well end up here at days end....

Though I am done for the day, the last 45 minutes on Friday can be an exciting time for the gambler in weeklies...simple "little" stock prive moves can be explosive price wise on the weeklies options.

Take care.

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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Though I had a very good day, I missed a very nice trade in AMZN after all the early morning fireworks.

The $ 185 weekly Calls went from a buy of $ 2.25 around 11:45 am CST to $ 4.00.

Oh well.


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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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My least favorite day of the week and the market for the most part left without me today. That said I still found a few good trades.

Trades:

PCLN $700 Puts @ $ 6.60 they went to $ 14.00, but I sold them at $ 12.60 after the moved quickly failed.
Nice Win

AAPL $575 Puts @ $ 6.00 still in them with a potential target of $ 555.64 (55 EMA, plus a past month FIB @ $ 556.42)
Nice Win. so far

NFLX $ 100 Puts @ $ 1.60 sold them at $ 2.00 when it hit S2. NFLX $ 105 Calls @ $ 1.00 went to $ 1.24, sold them at $ 1.00
Small Win & a Small Loss


BIDU $145 Puts @ $ 1.40 sold them at $ 1.85 when it hit S3. BIDU $ 150 Calls @ $ 1.63 went only to $ 1.79, sold them at $ 1.60
Small Win & a Small Loss


EUR/USD In @ $ 1.3044 out at $ 1.3124 (80 pips)
Nice Win

No plays, or didn't pay any attention to, in GOOG, AMZN, QQQ, SPY, IWM (they took off before open)


The following are obviously in full blown short mode, IMO, (If AAPL breaks $580.13 tomorrow it could fall to Support @ $ 542), (AMZN with Support @ $ 180.30), (GOOG with Support @ $ 599.26), (NFLX if it breaks $ 99.79 it could fall to Support @ $ 94.64)

Take care and have a great night.

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 Maisie 
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Nice trading! I was in those AAPL puts today too. However, sadly, only Sim as I just switched to tradestation, and am still learning my way around the platform. Of course, the one day I trade sim, I bank +88% on the AAPL puts, sigh. Anyways tradestation has this great feature called "the matrix" which has price by vol. The 620 puts were not getting bought much at the higher prices towards the end of the day. But the peeps who bought in the middle of the range weren't selling, either. Curious what made you decide to keep some puts overnight. That flag did keep drifting down.

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 Vikings1 
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Wow, now that was a turn around Tuesday!! In an effort to avoid some run away plays I have gone back to a 10 min time frame, I still find the 5 min to busy for me to trade off of and the 15 min (though one of my favorites, a little slow when market gets choppy like this).

Trades:

AAPL $ 595 Calls @ $ 6.25 they went to $ 17.80, sold them at $ 16.25 near close of day.
Also sold my previous day’s $ 575 Puts @ $ 10.00 they went all the way to $ 12.00 after the open for a profit of $ 4.00 on those options I bought at $ 6.00. Those same options are now only worth $ .55. (the power and potential pain of the weekly options).
Nice Win

AMZN $ 190 Calls @ $ 1.40 they went to $ 2.35, sold them at $ 2.20 when AMZN got to S1.
AMZN $ 185 Puts @ $ 0.80 they went only to $ 0.99, sold them at $ 0.83.
Small Win, and nearly a Breakeven

NFLX $ 105 Calls @ $ 1.42 they went to $ 2.98 before I sold them at $ 2.55 after which they went up afterwards to $ 3.71. (oh well)
Nice Win

GOOG $620 Calls @ $ 2.75 they went to $ 5.40, sold them at $ 4.40, reversed and took $ 610 Puts @ $ 4.10 they went to $ 6.10 sold them @ $ 5.30 when GOOG went back to pivot.
Two Nice Wins

SPY $138 Calls @ $ 0.85 they went to $ 1.80, sold them at $ 1.70 after they got to my target of $ 139.34.
Nice Win

No plays, or didn't pay any attention to, ES, EUR/USD (Choppy), BIDU, PCLN, QQQ, IWM (too busy with what I already had)


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 Vikings1 
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Maisie View Post
Nice trading! I was in those AAPL puts today too. However, sadly, only Sim as I just switched to tradestation, and am still learning my way around the platform. Of course, the one day I trade sim, I bank +88% on the AAPL puts, sigh. Anyways tradestation has this great feature called "the matrix" which has price by vol. The 620 puts were not getting bought much at the higher prices towards the end of the day. But the peeps who bought in the middle of the range weren't selling, either. Curious what made you decide to keep some puts overnight. That flag did keep drifting down.

Hi Massie,

My daily chart is what kept me in AAPL puts over night and it worked out, but had to reverse quickly on them and went long for a very nice play afterwards.

As far as volume goes, I really do not pay a whole lot of attention to it, I let my charts tell me when they are getting exhausted. I can see where the potential resistance levels are going to be on them, like all the big targets (pivots, major fibs, like last month Fibs (my favorite), and big ROUND numbers where strike prices sit).

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 gtichauer 
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Hi Massie,

My daily chart is what kept me in AAPL puts over night and it worked out, but had to reverse quickly on them and went long for a very nice play afterwards.

As far as volume goes, I really do not pay a whole lot of attention to it, I let my charts tell me when they are getting exhausted. I can see where the potential resistance levels are going to be on them, like all the big targets (pivots, major fibs, like last month Fibs (my favorite), and big ROUND numbers where strike prices sit).

Thanks for posting your trades....I followed weeklies for some time and if traded well they are very rewarding.

Can u share how u manage size and risk regarding your total account? This is each trade is a fix % of your account? do u go for specific r:r ratios? I think this is key when daytrading options, we all know why....thanks.

GT
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esby06
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Thanks for sharing with us your trade, im very excited and interested in learning more from you.
I have a question why you preferred Woodies Pivot instead of standard pivots?

Thank you

 
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 Vikings1 
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Thanks for sharing with us your trade, im very excited and interested in learning more from you.
I have a question why you preferred Woodies Pivot instead of standard pivots?

Thank you


Over many years, I have found they are hit much more often than standard pivots... No other reason...

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 Vikings1 
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gtichauer View Post
Thanks for posting your trades....I followed weeklies for some time and if traded well they are very rewarding.

Can u share how u manage size and risk regarding your total account? This is each trade is a fix % of your account? do u go for specific r:r ratios? I think this is key when daytrading options, we all know why....thanks.


Actually my trades will vary in size depending upon my own money management spreadsheet I put together years ago. Basically I will normally bank 50% of my profits per trade and roll the other half over to the next trade, so if I get on a roll the size can grow rather quickly. But since I am always banking profit along the way and my hard stops are just that, hard stops, my downside is limited. After a loss I will go back to my orginal size play and start all over again. This way I am putting some of my profits back to work for me. It is also the reason I only play what I play, stocks with high volume weeklies...

I am not into the fixed amount of an account basis theory, my feeling is your set-ups and strict trading rules had better be in place first, then the size of your trade should be one you are willing to lose completely without any increase of blood pressure, if it isn't, then you are playing with too much.

Prove to yourself you can win with $ 100 of real money (not sim) time after time, before you ever try to hit the home runs...singles are just fine in this business and the home runs will come all by themselves.

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 Vikings1 
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Thanks for sharing with us your trade, im very excited and interested in learning more from you.
I have a question why you preferred Woodies Pivot instead of standard pivots?

Thank you


A prime example of why I use Woodies Pivots...

AAPL today


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 gtichauer 
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I am not into the fixed amount of an account basis theory, my feeling is your set-ups and strict trading rules had better be in place first, then the size of your trade should be one you are willing to lose completely without any increase of blood pressure, if it isn't, then you are playing with too much.

By this u mean that u size the trade as if a 100% loss is possible every trade or that is just a psicological aspect u mean?

I guess when trading on Friday u must consider price going to zero (as option become worthless) as part of the trade, but maybe on Mondays assume a max 50% loss as premium erodes at a slower pace?

Thanks,

GT
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 Vikings1 
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gtichauer View Post
By this u mean that u size the trade as if a 100% loss is possible every trade or that is just a psicological aspect u mean?

I guess when trading on Friday u must consider price going to zero (as option become worthless) as part of the trade, but maybe on Mondays assume a max 50% loss as premium erodes at a slower pace?

Thanks,


Obviously, I would never let any trade go to zero, or even remotely close; but if you start sweating by just putting the trade on, then maybe you are trading too much.

On Fridays you have to be careful playing the options out of the money especially as time winds down during the day. But those same options can also be VERY rewarding near the close as well if they come back into the money. (This is also not amatuer hour, your set-ups and trading rules better be very good, and plus be willing to loose 100% as well).

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 Vikings1 
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I was offline yesterday, but what a day today turned out to be. Started off a little choppy but then exploded as soon as the inside daily candles for QQQ and SPY were broken to the downside.

Too many trades to list so I will let my charts speak for themself. Thursday is my 2nd favorite day of the week, tomorrow is my NO.# 1 favorite.

Example of one of the nice trades, AAPL $ 590 puts at $ 1.70, sold them at $ 8.00, after they went to $ 9.00.

Take care


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 Maisie 
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Nice trades tho still cannot completely understand yr charts. I like the way they look tho! I was with u there on AAPL tho not just the puts, also did scalp some bux off a couple of up candles with calls. my 1st day trading all day live with the new tradestation platform. Iv'e got a new rule - 6 trades and done. Also, am only trading AAPL for the next 2 days just to make sure i know what i am doing and not making fat finger mistakes. just helps me focus on patterns and execution. do u look at the volume in the options too? this tradestation matrix thing has been a big eye opener. i used to buy the last price but no more! with the matrix u see all the volume at each price - it's L2 w/o mkt makers. so i am putting my orders in at the bid and getting filled every time! i thought that only happenned in sim, lol. for me with my teeny position sizes, the extra 5 cents matters. then i am setting my stops MUCH closer now that i can see who is on what price and just trying again if i get stopped out. still making fat finger mistakes tho which cost me some bux today clicking and dragging stop too fast to catch up w price and then got stopped out halfway through move, drat. 18% profit which shd have been about 50%, oh well. anyways i bet tomorrow's going to be crazy. i am getting not bearish nor bullish but volatilityish. we shall see.

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 Vikings1 
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Maisie View Post
Nice trades tho still cannot completely understand yr charts. I like the way they look tho! I was with u there on AAPL tho not just the puts, also did scalp some bux off a couple of up candles with calls. my 1st day trading all day live with the new tradestation platform. Iv'e got a new rule - 6 trades and done. Also, am only trading AAPL for the next 2 days just to make sure i know what i am doing and not making fat finger mistakes. just helps me focus on patterns and execution. do u look at the volume in the options too? this tradestation matrix thing has been a big eye opener. i used to buy the last price but no more! with the matrix u see all the volume at each price - it's L2 w/o mkt makers. so i am putting my orders in at the bid and getting filled every time! i thought that only happenned in sim, lol. for me with my teeny position sizes, the extra 5 cents matters. then i am setting my stops MUCH closer now that i can see who is on what price and just trying again if i get stopped out. still making fat finger mistakes tho which cost me some bux today clicking and dragging stop too fast to catch up w price and then got stopped out halfway through move, drat. 18% profit which shd have been about 50%, oh well. anyways i bet tomorrow's going to be crazy. i am getting not bearish nor bullish but volatilityish. we shall see.


Hello Massie,

Charts are actually fairly easy to follow, short entry post "short below it", long entry post ("go long above it"), well almost that simple.

As far as volume goes, I pay a little attention to it, but normally the areas I am interested in buying, so are a lot of other people so volume is usually not an issue. I let my charts tell me when to buy and what areas it might go to.

I used to care about where the market is going, or trying to go until I became a true day trader, it doesn't matter which way the market goes, (especially these days). I wake-up, turn on the computer, check a little news, turn off the news, turn on some music, and get ready to trade.... No worries, no fundemental crap, up or down, I make money.

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esby06
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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

 
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 Vikings1 
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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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 Vikings1 
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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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 Maisie 
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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!

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 Vikings1 
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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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 Maisie 
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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

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esby06
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good morning.

Would you mind sharing your basic concept please?

Thank u

 
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 Vikings1 
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“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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 Vikings1 
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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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Gisfor
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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....

 
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 Vikings1 
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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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Gisfor
chicago il USA
 
 
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same here....i use the combined to screen/scan weeklys then right click and maximize chart to see each individual ticker

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Gisfor
chicago il USA
 
 
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Vik have you tried range trade instead of tick charts?
Always looking to make friends with people where we both benefit from ideas.....

Anyhow just sharing with you my range chart for pcln weekly option......

GL

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 Vikings1 
Minneapolis, MN, USA
 
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Gisfor View Post
same here....i use the combined to screen/scan weeklys then right click and maximize chart to see each individual ticker

I only trade what I have posted, nothing more as there is NO need to, IMO. I wait for these stocks to come to me, it keeps me focused, and calm. There were several doublers and one triple day with just these 6 stocks. It happens nearly everyday and many multiple times a week.

No need to find the next so-called "HOT" stock, no fundementals needing to be done, just turn on the computer, and get ready for these stocks to come to me.

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Gisfor
chicago il USA
 
 
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same here Vik.......
dont listen to news ...except economic ....FOMC.....lol
i am strictly a technical trader......
IMO everything i need to know is in the charts......

I just was throwing out some ideas.......
didnt want to say what indicators i use on a public forum also.......
due to the fact how many years i have also spent creating my system.....

GL in trading Vik........

 
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 Vikings1 
Minneapolis, MN, USA
 
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Gisfor View Post
Vik have you tried range trade instead of tick charts?
Always looking to make friends with people where we both benefit from ideas.....

Anyhow just sharing with you my range chart for pcln weekly option......

GL

I did watch the range charts last week with my set-ups. At first it looked very appealing, but after what I saw a couple times last week I decied I rather stick with the "tick". There were several times where "multiple" range bars, up to 6 posted range bars, being completed erased. Not interested in a system that potentially erases "posted" bars....I could see one or two, but 6??

They do look appealing, but after witnessing that event last week, not for me....

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Gisfor
chicago il USA
 
 
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Yep same problem .......
i see the spikes and drops......
my work around is......

i have a call loaded up in #2 and a put loaded up in #3
when i see the goofy stuff......
i switch the chart numbers to correct......3 - 2 and 2 - 3

i have talked to several friends about it and they dont have a clue either as to why TOS does that.....

 
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 Vikings1 
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Gisfor View Post
Vik have you tried range trade instead of tick charts?
Always looking to make friends with people where we both benefit from ideas.....

Anyhow just sharing with you my range chart for pcln weekly option......

GL

How my PCLN 770 call chart looks....


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Gisfor
chicago il USA
 
 
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thanks for the chart post......

yea i chart all options with my indicators and of course go long.....be it a call or put......
i also use 3 and 5 min charts.....

not suggesting u change anything.....
have you ever used KARI RSI?

again just sharing........

of course this is all after the fact .......
what i am showing.....

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Gisfor
chicago il USA
 
 
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K Vik.....
good chatting with ya....

I will definitely watch ticks and range side by side.....

take care .....

GL in trading

 
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 Vikings1 
Minneapolis, MN, USA
 
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Gisfor View Post
thanks for the chart post......

yea i chart all options with my indicators and of course go long.....be it a call or put......
i also use 3 and 5 min charts.....

not suggesting u change anything.....
have you ever used KARI RSI?

again just sharing........

of course this is all after the fact .......
what i am showing.....


Gisfor,

Actually never have even heard of the Kari RSI, but I really like the LaquerreRSI.

I will check it out though.

Thanks...

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Gisfor
chicago il USA
 
 
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Vik.......
sorry i spelled the name of the indicator wrong......

here is a link to what its all about......
Kairi Relative Index: The Forgotten Oscillator

i also am gonna look at the Laqeuure rsi ......

so thank you......


declare lower;

input price = close;
input length = 12;

def avg = Average(price, length);

plot KRI = ((price - avg) / avg) * 100;

plot Mid = 0;
Mid.SetDefaultColor(Color.LIGHT_GRAY);

KRI.AssignValueColor(if KRI > Mid then if KRI > KRI[1] then Color.Green else Color.Dark_Green else if KRI < KRI[1] then Color.Red else Color.Yellow);

KRI.SetLineWeight(2);

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Gisfor
chicago il USA
 
 
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Vik,

Quick question for you......
I noticed your labels.....
I too use labels......
Are you using strictly ADX or combination/formula of DI and ADX to determine strength????

I use both DI and ADX in combination for my tags.....

I really would love to compare or share what i have with you......

anyhow....
not sure if this forum allows me to contact you personally for chatting......
I do have AIM......

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 Cloudy 
desert CA
 
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Thanks for the TOS code for dual Laguerre RSI viking. I already had it on my platforms, but hadn't thought about two of them at once with different gammas. Interesting you have the buy/sell one at .75 gamma. Most others using it I've seen have the gamma at .40 or .64

Here's ThatManFromTexas' "SchaffRmiLaguerrebyTMFT" indicator modified to show the two Laguerre's at .50 and .75 for NT7.
(It has the same code as the TOS one for laguerre RSI.)

The original at:


Also, Viking, you said you use previous day or weekly fibonacci for your premarket analysis? Do you also use some form of market or volume profile? Thanks.

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 Vikings1 
Minneapolis, MN, USA
 
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So much for a quiet Tuesday, 20 points total on the ES, still in the short.
Two doubles on AAPL off of very sweet set-ups.
AMZN was very choppy today and it chopped me up twice today, but they were small losses.
Almost a double on BIDU, right out of the blocks.
GOOG, much like AAPL gave me a very nice double.
Last play was in NFLX, nearly a double too...

“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.”

John Quincy Adams








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 Vikings1 
Minneapolis, MN, USA
 
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Cloudy View Post
Thanks for the TOS code for dual Laguerre RSI viking. I already had it on my platforms, but hadn't thought about two of them at once with different gammas. Interesting you have the buy/sell one at .75 gamma. Most others using it I've seen have the gamma at .40 or .64

Here's ThatManFromTexas' "SchaffRmiLaguerrebyTMFT" indicator modified to show the two Laguerre's at .50 and .75 for NT7.
(It has the same code as the TOS one for laguerre RSI.)

The original at:


Also, Viking, you said you use previous day or weekly fibonacci for your premarket analysis? Do you also use some form of market or volume profile? Thanks.

Hi Cloudy,

Laquerre looks good on your charts. I only you the past MONTH Fibs on my charts, no other FIBS. Piovts and my other indicators work better, IMO, too much noise and information with all the other Fibs.

I am working on getting some of my code recoded for my Ninja platform, as I use Ninja for all my futures trading.

V

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 Vikings1 
Minneapolis, MN, USA
 
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Gisfor View Post
Vik,

Quick question for you......
I noticed your labels.....
I too use labels......
Are you using strictly ADX or combination/formula of DI and ADX to determine strength????

I use both DI and ADX in combination for my tags.....

I really would love to compare or share what i have with you......

anyhow....
not sure if this forum allows me to contact you personally for chatting......
I do have AIM......

Hi Gisfor,

Actually my ADX indicator is a combination of the DI & ADX and it works VERY well too. I think you can send private e-mails.

V

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Gisfor
chicago il USA
 
 
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Vik.....
nice job cleaning up today even with /tf and /nq dropping......../es half way.......

SPY 141 call AM had a very nice move.....

thanks for posting your charts......
nice to see things from a different perspective......
i am not looking to change my system......
i like to call it fine tuning........

reason i asked abut ADX and DI......
is i have several several separate ADX indicators i tried with no success.....

not sure how i can send you a personal email with scripts for comparison......

anyhow.......
I have some indicators that may be of some interest to you...
however i cant post them.......
really not sure how to chat in private within the forum.......
its not that i dont want to help or share.......
just i have many indicators that many people have worked on ......
and i dont think it would be proper to just post them on a public forum......
i did and comparison as to timeframe and range charts......
i post if u care to look at....also watching the LaQuerre RSI

anyhow....

GL tomorrow

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 Vikings1 
Minneapolis, MN, USA
 
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Wow, what a "slice and dice" day. Not one trade for a double and 5 other plays for either small gains to small losses. No runners today on any of my stocks. ES had a slow grind up today, kind of surprising after all that great news on jobs & manufacturing, just remember CNBC's comment "Fortress USA"... LOL!!!

Feels like I ran a marathon today.... Getting very conjested up here, something is going to pop.

 
Code





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Gisfor
chicago il USA
 
 
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Hi Vik,

I am wondering if you can share the script in TOS for the bubbles on the chart for the M + C and the color changes to them......
I cant find how to do that......

I am just looking for the code to plot them.........
NOT your formula......


Your help would be greatly appreciated........
PLEASE!!!!!!!

THANKS AGAIN......
for posting your charts .......
gives me some ideas for my system.......

also wondering if you looked at the Kairi indicator i posted in comparison to yours.....?????

 
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Gisfor
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i got it Vik.......

friends helped me out with the bubble situation....

 
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 Vikings1 
Minneapolis, MN, USA
 
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And the winner of the day was NFLX, options up nearly 5 fold on two trades, especially after it broke last months low at 79.76.

Tomorrow might be a fun one after the jobs nunbers is annouced. I could care less which way it goes, just want it behind us.

Have fun!








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 Vikings1 
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Gisfor View Post
i got it Vik.......

friends helped me out with the bubble situation....

Cool, good luck!

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 Vikings1 
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Gisfor View Post
Vik.....
nice job cleaning up today even with /tf and /nq dropping......../es half way.......

SPY 141 call AM had a very nice move.....

thanks for posting your charts......
nice to see things from a different perspective......
i am not looking to change my system......
i like to call it fine tuning........

reason i asked abut ADX and DI......
is i have several several separate ADX indicators i tried with no success.....

not sure how i can send you a personal email with scripts for comparison......

anyhow.......
I have some indicators that may be of some interest to you...
however i cant post them.......
really not sure how to chat in private within the forum.......
its not that i dont want to help or share.......
just i have many indicators that many people have worked on ......
and i dont think it would be proper to just post them on a public forum......
i did and comparison as to timeframe and range charts......
i post if u care to look at....also watching the LaQuerre RSI

anyhow....

GL tomorrow

Thanks Gisfor, but I am happy with what I have...

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 Vikings1 
Minneapolis, MN, USA
 
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I have been informed my system is easy and that everyone has it figured out (cool, that was my goal in designing it). I hope anyone using it had a day today, like I did! This also makes it easier for me to post here, no need to mark-up my charts, just cut and paste.

ES, +18 points
Amzn a double on the weeklies
Goog a double on the weeklies
Nflx a triple on the weeklies
Aapl a triple on the weeklies

Have a great weekend...








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 Cloudy 
desert CA
 
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Hi Vikings. When you say you score a "double" or "triple" is that a set amount % based on how much the option trade for a stock costs? So like "double" your general profit target in terms of option price difference? Also in general are you buying single calls or puts, preferably weeklies but they can also be regular , less than 30 days till expiration options , at your entry points?

I'll try it out on TOS sim. I've done something like this before but from a scan of stocks.

TOS is so much better and flexible to trade and try stuff out these days. Glad they finally added adjustable lower chart areas!

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 Vikings1 
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Cloudy View Post
Hi Vikings. When you say you score a "double" or "triple" is that a set amount % based on how much the option trade for a stock costs? So like "double" your general profit target in terms of option price difference? Also in general you are buying single calls or puts, preferably weeklies but they can also be regular , less than 30 days till expiration options , at your entry points?


Hello Cloudy,

As my title of this journal states, "weekly option trader" and I am strickly a "day-trader" who trades only weekly options, ES and FX, no swings and thus NO monthly options.

Double and triple means exactly that...bought aapl at $ 2.16 ($ 575 weekly puts @ 9:34 EST) today, sold them @ $ 6.20 today (@ 10:22 EST)....

I only buy simple calls and puts.......

Profit margin is completely determined by price action and targets I can can clearly see on my charts..like pivots, strong ema's (55 & 200), past month Fibs, & Demark. Some will run, some won't, the ones that don't I am out...the others I let run as far as they want to and WILL add to the position if given the chance to.

Have a great weekend.

V

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 Cloudy 
desert CA
 
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Thanks, I get what you mean now. Wow, nice on those doubles and triples. I'll give it a try on papersim TOS come Monday and post results on my journal. Thanks Viking. You too.

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 1upTrader 
Seattle, Washington
 
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Hi Vikings,

I was wondering how you are placing your trades in ToS. Are you using the ActiveTrader tab, or just straight off the chart?
And thanks for the journal!

-1up

 
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 Vikings1 
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1upTrader View Post
Hi Vikings,

I was wondering how you are placing your trades in ToS. Are you using the ActiveTrader tab, or just straight off the chart?
And thanks for the journal!

-1up

Hello 1Up,

I do not use TOS for any of my trades, I use E-Trade (been with them for over 10 years) for all my weekly options, Apex for my ES, and Forex for my FX trades. TOS is mainly for charting, but I am getting some of my TOS programming reprogrammed for Ninja as that is where I want to end up. TOS can be such a pain at times.

All that said, since I trade a limited group of stocks (6 total) I already know what option I am going to buy as soon as I get a buy signal.

V

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 Vikings1 
Minneapolis, MN, USA
 
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I knew after their election today, tonight might be interesting, and it was... Already locked in 7 points and looking to collect some more, probably to the downside.

Tomorrow should be a lot of fun!! $$$$$$$$$$$


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 Vikings1 
Minneapolis, MN, USA
 
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Once again I was reminded why it is NOT worth trying to help people learn how to trade. For those that do try to help others, you have my deepest respect and MUCH more will power than I; I truely wish you all the best. Goodbye and good luck, especially to the know it alls.

PS: If Big Mike is reading this, please feel free to close this journal, if so desired.

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 kulu 
Buckeye Nation
 
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Vikings1 View Post
Once again I was reminded why it is NOT worth trying to help people learn how to trade. For those that do try to help others, you have my deepest respect and MUCH more will power than I; I truely wish you all the best. Goodbye and good luck, especially to the know it alls.

PS: If Big Mike is reading this, please feel free to close this journal, if so desired.

So what happened? I didn't see anything bad posted. Was it a private message?

Kulu

 
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  #83 (permalink)
 Vikings1 
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kulu View Post
So what happened? I didn't see anything bad posted. Was it a private message?

Kulu

Kulu,

Doesn't matter, but thanks for asking and good luck in the future.

V

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 Big Mike 
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Vikings1 View Post
Doesn't matter, but thanks for asking and good luck in the future.

It definitely matters to me. I will send you a private message.

But I want to also say publicly a few things:

- Don't let any one person (or even a small number of people) to dissuade you from your posts
- The majority of people that benefit from your post are the "silent type", meaning they tell me daily they don't feel they have anything to contribute so they are just "lurkers", so don't let any sort of lack of participation be a measurement of success
- If anyone has been rude or offensive, report it so that person can be removed from the forum. We all work very hard to keep futures.io (formerly BMT) a helpful place, and I will not tolerate any rude behavior


Mike

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 Vikings1 
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Big Mike View Post
It definitely matters to me. I will send you a private message.

But I want to also say publicly a few things:

- Don't let any one person (or even a small number of people) to dissuade you from your posts
- The majority of people that benefit from your post are the "silent type", meaning they tell me daily they don't feel they have anything to contribute so they are just "lurkers", so don't let any sort of lack of participation be a measurement of success
- If anyone has been rude or offensive, report it so that person can be removed from the forum. We all work very hard to keep futures.io (formerly BMT) a helpful place, and I will not tolerate any rude behavior


Mike

Hello Mike,

I have sent you a private e-mail. What I have to say can not be printed in here.

Take care.

V

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  #86 (permalink)
 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

First off, I would like to thank all the members that continued to send me e-mails after my aburpt departure and it because of those members I am back. Since my departure my wife has joined me in daytrading and has actually become a better trader than I, IMO. Reason being she is a "machine" she "always: buys when she has a green light and not until then. Does she win all the time, NO, but she never misses any of the big ones because she is in every play when green. If your rules are solid, then you should be as none of us can predict the future.

Our Rules:

1). Price must be two candles above/below of the 50EMA.
2). Those two candle must be same color
3). TTM-Squeeze must be blue/red along with a "green" dot
4). My "A-study" (solid blue/red line on upper graph) must be the same color as the candles
5). My "B-Study" (dots green/red on upper graph( must be the same color as the candles
6). My Laquerre Study (dashed blue/red line on upper graph) must be the same color as the candles

Those are our RULES and they are NEVER broken, (no butt I think it might reverse; no thinking, just buy or short).

Some potential targets:

ES: 1st target 2 points on the 1st half of the position, trail the rest until the "A-Study" posting
CL: 1st target 12 ticks on the 1st half of the position, trail the rest until the "A-Study" posting
Weeklies: I tend to let my "A-study show me when to pull the 1st half of the position, once it changes color I will take 1/2 off, unless I run into a major resistance 1st. (as you can see on AAPL that change NEVER happen)

Today was a fantastic day, AAPL's 575 calls were a 9x today.
CL was huge
ES was very nice

Have a great weekend

V





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 Big Mike 
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Welcome back

Mike

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 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
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Glad to see you Back Vikings! This must be a first, a resurrected thread. You are baack and killing the markets with T100 accuracy!


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 Vikings1 
Minneapolis, MN, USA
 
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Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Cloudy View Post
Glad to see you Back Vikings! This must be a first, a resurrected thread. You are baack and killing the markets with T100 accuracy!

The Terminator - Police Station Massacre (HD) - YouTube

LOL!

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 Vikings1 
Minneapolis, MN, USA
 
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Platform: ninjatrader, TOS
Trading: Weekly Options
 
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I have been playing around with two different ranges for CL. Today I played with $ .06, though fun and very profitable it was alot of work. The ATR for CL based on a 5min time is closer to $ .13

Here is what those charts would have looked like using a $ .13 range. Changes would be a 1st target of 13 ticks with the stop still sitting at 16 ticks before trailing after the 1st target is met. Next week I will be playing this time frame instead.

Results would have been 3-1 with a maximum gain of 176 ticks per contract.

Have a great weekend.

V





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 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
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Vikings1 View Post
LOL!

This just in. It looks like he'll be back for real! Synchronicity.

Terminator 5 with Arnold - Mania.com

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 rutherfordk 
Lawrenceville, Ga
 
Experience: Intermediate
Platform: NINJATRADER
Trading: TF, YM
 
Posts: 12 since Jan 2011
Thanks: 15 given, 0 received


Gisfor View Post
Vik.....
nice job cleaning up today even with /tf and /nq dropping......../es half way.......

SPY 141 call AM had a very nice move.....

thanks for posting your charts......
nice to see things from a different perspective......
i am not looking to change my system......
i like to call it fine tuning........

reason i asked abut ADX and DI......
is i have several several separate ADX indicators i tried with no success.....

not sure how i can send you a personal email with scripts for comparison......

anyhow.......
I have some indicators that may be of some interest to you...
however i cant post them.......
really not sure how to chat in private within the forum.......
its not that i dont want to help or share.......
just i have many indicators that many people have worked on ......
and i dont think it would be proper to just post them on a public forum......
i did and comparison as to timeframe and range charts......
i post if u care to look at....also watching the LaQuerre RSI

anyhow....

GL tomorrow

Gisfor, can you tell me how you loaded an option chart in TOS. I have never seen this before. I have been trading options on TOS for years and never knew this was possible.
Thanks,
Kim

 
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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Thank you for the E-mail Kim,

The power of the "weekly options". But remember that this is big boy territory and as quick as the profits can come, it can go as quick without strong set-ups and stronger RULES of engagement. If you do NOT have complete faith in your system I would strongly recommend trading another type of option.

Have a great weekend.

V



rutherfordk View Post
Gisfor, can you tell me how you loaded an option chart in TOS. I have never seen this before. I have been trading options on TOS for years and never knew this was possible.
Thanks,
Kim


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 Vikings1 
Minneapolis, MN, USA
 
Experience: Master
Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Thanks: 26 given, 409 received

Good morning GL,

Thank you for the e-mail and offer, but honestly I have no desire to change, or add anything to my set-ups, there is no need or benefit, IMO. My rules are set, they work extremely well, they are easy to follow, and thus no reason to modify.

As I was telling another trader this moring when my wife & I make a trade we do in a very relaxed manner. It is not because we are guaranteed a win, we are not, but we DO know we will win much more than we lose by the end of the day and that is what it is all about.

If you can't teach your system to a complete NEWBIE in 15 minutes or less, than it is TOO complicated. You saw my rules, (basically all blue, buy; all red, short: PERIOD). And you buy ALL set-ups as you never know which one will be that Biggie.

PS: One of my goals has always been to make my set-ups as easy as possible to follow and IMO there is little else I can do to do so now. Everything that is there is there for a reason, but the picture is clean and easy to follow, IMO

PSS: The ONE thing about rules is that in trading they MUST ALWAYS be followed, not just some of the time, but ALWAYS. (what goes on between your ears when trading must ALWAYS be controlled to be a true pro in this business.)

Have a great weekend.

V



rutherfordk View Post
Gisfor, can you tell me how you loaded an option chart in TOS. I have never seen this before. I have been trading options on TOS for years and never knew this was possible.
Thanks,
Kim


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 Vikings1 
Minneapolis, MN, USA
 
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Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Oil could have been SO much better for me today, but I still had two nice plays. Got stopped out on both a little early and unfortunately wasn't really given a good reset to get back in on them. Still got 99 ticks so not so bad. Weeklies were nice on AAPL (again), GOOG (a double), and NFLX. Missed two nice plays in AMZN & BIDU over lunch as I had stepped out for a quick bite.

I have marked up my charts as far as entries and option prices.

Tomorrow is another day.

PS: TF would have been huge to play today as well, (I have enclosed my charts as I am looking to start playing it as well soon).

PSS: I am glad to see the market didn't buy into the crap that happened over the weekend.

V











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 Vikings1 
Minneapolis, MN, USA
 
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Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

Another busy day today. Most of my weeklies were already running from the start and thus had to drop to a lower range chart in order to look for opportunities to get into the run. I typically use 1/2 of my normal range when I am looking to try to get into a longer trend.

I had some other plays today in AMZN and PCLN, but I am beat and I am still in that last CL play, stop on last half at $ 82.83, just above the 30 minute opening range low of 82.81.

Again I am glad I am a daytrader and do NOT have to worry about the markets direction. What a giant ponzi the whole thing is and they wonder why the retail investor is not buying into it.........

Just keep printing.........

Have a great night and let's see where we go tomorrow.


















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 timmyb 
duluth,mn
 
Experience: Advanced
Platform: ninja,thinkorswim
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Trading: ES,Options
 
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Thanks for coming back. I have always been reading

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 hector2 
halifax/canada
 
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Great to see your charts / approach , welcome back.

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 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
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Hi Vikings, I've noticed in the recent charts you've changed to range charts at various cents value for AAPL, /CL
and GOOG. Do you think they are easier to trade on and help filter out spike and noise from the time charts?
Thanks, Cloudy

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 Vikings1 
Minneapolis, MN, USA
 
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Platform: ninjatrader, TOS
Trading: Weekly Options
 
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Posts: 188 since Sep 2011
Thanks: 26 given, 409 received

I am going to run an experiment from here until the end of the month. We (wife & I) are going to trade ONLY CL & AAPL. We will keep our contracts on CL at 4 for now, but will go to 10 by month's end (maybe even next week). Secondly, I have put together a 30 trade experiment for my weeklies and we are going to try it on AAPL only. My trades will be less, but potentially much MORE profitable. I will keep all informed as this 2 1/2 week experiment progresses. I will NOT be looking at anything else during this time frame.

Oil was very nice today, but I made a big mistake on one very nice play; I bought my stop up to a "big round" number .80. I hit .80- and actually took my stop, where if I had left it at .79 I could have picked up another 100 pips on 2 contracts. Lesson learned!

Have a great night and enjoy the charts.

PS: By the time AAPL finally gave me a play I was tired and passed on it, another mistake today.

V




















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