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The Learning Journal of RedK Trading Options...


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The Learning Journal of RedK Trading Options...

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  #41 (permalink)
Market Wizard
Chicago, Illinois
 
Experience: Intermediate
Platform: Tradingview
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
 
Bermudan Option's Avatar
 
Posts: 545 since May 2011
Thanks: 562 given, 334 received

Good luck with the options trading!

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  #42 (permalink)
Dubai, UAE
 
Experience: Intermediate
Platform: TOS, TradeStation
Broker: OX, TradeStation
Trading: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 143 received

and been away from my journal for a long time.
still holding my INTC .. and it keeps disappointing (for now) .. but i decided i'll sit in the fire until after the holiday season..

only new position opened is some AAPL Jan ITM calls .. i kept missing the big obvious moves (like when AAPL went below 520, and then up 7% in one day).. but this time decided it's better late than sorry. the indicators look good. it may ease slightly down but will eventually move up..

watching the others and holding the monkey close .. he wants to hit the trigger but i've decided i will only move on good signals, no less. so staying on the side until something shows up..

stopped working on indicators.. have enough custom built, time to use them in trade. i do a lot of paper trading and may post some as i test a new concept i call Zero-Gain level (similar to pivot points) .. the concept is, this is the price level of latest "balance" between bears & bulls. it helps set targets or reversal levels.. and it looks interesting .. if you use something like DMI, you can calculate this level as the price corresponding to the intersection of +DI with -DI.. give it a shot. the price comes back to revisit if it's around the same area.

that's all for now ..

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  #43 (permalink)
New York City New York USA
 
Experience: Intermediate
Platform: Think or Swim, Infinity Futures
Broker: Thinkor Swim for Charts an Infinity Futures for Trading Dom
Trading: Oil
 
Posts: 52 since Jul 2012
Thanks: 448 given, 46 received


Redk,

Good To see you around again RedK...What platform have you settled on now to trade with or write studies for? Apple looks good I agree back to $700. Intel I hope this is the bottom.

Good Luck

Hguru

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  #44 (permalink)
Dubai, UAE
 
Experience: Intermediate
Platform: TOS, TradeStation
Broker: OX, TradeStation
Trading: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 143 received


Hguru View Post
Redk,

Good To see you around again RedK...What platform have you settled on now to trade with or write studies for? Apple looks good I agree back to $700. Intel I hope this is the bottom.

Good Luck

Hguru

thanks @Hguru. I currently trade with OX where i have moved my account. I trust OX and had an account with them for almost 2 years now with 0 issues. But until i find a good charting & analysis platform, i refer to a fallback setup on a demo TC2000 desktop where i have my watchlist and i setup the studies that show me what i need (Trend, Momentum and Price Levels).. here's how it looks like, after i did some small refinements recently (adjusted scaling of the stduies, showing %'s.. etc)




There's so many limitations and i can't put my custom studies, but what i like about it, is that i can start at the top of the watchlist, hit spacebar to move quickly thru all the watchlist, for an hourly + daily view of the charts and price action. Also it's always valuable to see the same chart on a different platform.. gives like a fresh eye, a chance to note things you may not see in the charting platform you look at all the time..

so it's a good tool to always have on the side, even when you have a more sophisticated platform.

looking forward to another exciting week ahead. Green Lines to all,
RedK

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  #45 (permalink)
Dubai, UAE
 
Experience: Intermediate
Platform: TOS, TradeStation
Broker: OX, TradeStation
Trading: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 143 received

market spirits are trading against me.. that must be the case. they learnt of the positions i have and started moving things in the other directions .. they must have a spy here on the forum telling them what new positions i took ...

seriously now, i can't seem to explain what's hapenning to the stocks i'm watching, let alone my positions.. NFLX, STX, WDC, AAPL, INTC.. big ups then big downs, in big %'s .. c'mon guys, make up your minds...! and the indicators are just all over the place.. going crazy and fuming.

i got this funny feeling to avoid the computer screen. AAPL position is in dark red and i don't want to see the loss.. it's painful. then i decided to get in the fight, ok, show me the loss, i still have good time on my AAPL calls, and i will not close the position at the largest loss (done that before) .. i'll just sit and protect it. Stocks are better, as they are unrecognized loss, and i can hold them for a lot longer waiting patiently for a rebound. but seriously, the market proves itself again. It's like the sea, you can be the best skipper, and it's still YOUR MASTER (and it shouts that to you every now and then, do you give your respects)

not opening new positions until things stabilize. market is too turbelent. i hope everyone stays safe. keep your backup plans handy, and if you decide to sit in the fire, stay cool. that's where i am now,

cheers,
RedK

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  #46 (permalink)
Dubai, UAE
 
Experience: Intermediate
Platform: TOS, TradeStation
Broker: OX, TradeStation
Trading: Stocks & Basic Options
 
RedK's Avatar
 
Posts: 171 since May 2012
Thanks: 44 given, 143 received

just a quick note to say i'm still around, and still scripting on ToS whenever i can get my hands on it ...

changing my trading style and moving to more focus on stocks vs options.. i need to become a better stock trader before diving more in the world of options (even basic strategies) .. so that's what i've been doing for the past few weeks.. my set up is getting more and more simplified.. and still building & improving my own studies.. there's so much that can be done in that area, to better see and follow the price action - and i'm finding out i also have some passion for "scripting" and trying out different trading methods and related analysis.. so while I need to satisfy my passion and curiosity in that area, i need more focus on trade & position management - and that's where i want to spend more time as i move more to trading whole stocks..

so i will close this journal here.. this part of the journey is over for me .. i'm starting a new phase.. will possibly start another journal in the forum focusing on technical trading methods that i researched/liked - as a journal for myself and a repository for others who are interested in that area and would like to share thoughts and ideas.
otherwise, i'll be around,
stay profitable all,
RedK

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  #47 (permalink)
Providence, RI
 
Experience: Intermediate
Platform: Thinkorswim
Trading: etf
 
Posts: 4 since Mar 2013
Thanks: 28 given, 2 received

Thanks RedK. I just discovered Big Mike's in the past couple of weeks. I stumbled upon this journal and absolutely loved it!
Nice analysis and walk through of your trading. Hope you can get back to TOS and use your abilities.
You are amazing at your thinkscript capabilities.
Keep up the good work and hope you see bright green on your screens.

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