Using Options for Swing Trading - Trading Journals | futures io social day trading
futures io futures trading


Using Options for Swing Trading
Updated: Views / Replies:12,203 / 165
Created: by Bermudan Option Attachments:6

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 6  
 
Thread Tools Search this Thread
 

Using Options for Swing Trading

  #11 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

I've been doing some thinking about my accounts and I am still trying to figure out how to effectively use my ThinkorSwim account because commission is too high for lotto plays that often have +25 contracts. Here is the new breakdown of my different accounts:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following user says Thank You to Bermudan Option for this post:
 
  #12 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

Hell of a day today. I am extended to the long side but I have some technical setups on fundamentally unsound companies as well.

Anyways here is an update on CIM going into tomorrow:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I entered this trade on an ascending triangle on the weekly. Right now, I am looking at another ascending triangle but on the hourly/65m timeframe instead. I think it might be do or die time here. Well maybe not die, but the stock might retrace if it doesn't break and hold above resistance

I am currently up 100% on all of the calls. Taking a profit here hasn't crossed my mind yet because I didn't come into this play attempting to risk $1 to gain $2. If this breakout fails, I might take some risk off of the table though.

Reply With Quote
The following user says Thank You to Bermudan Option for this post:
 
  #13 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Hey everyone, hope your trading week is going well. Just a quick update to throw out there along with a trade I am involved in and a trade I am interested in.

Last week ended strong and I was able to take advantage of it. Looking at my portfolio though, I am extremely overweight in Financials. It is kinda something I did on purpose because I think the sector has the most room to go higher, but also because so many of the charts in the sector are bullish. Over 1/2 of my portfolio is in Finance right now. I have more positions I want to put on in the sector this week but I am also focusing on the Nasdaq-related stock potentially bouncing back this week. AAPL has done terribly and Friday's close is still bullish for the sector. That says a lot about the overall strength of the benchmark. I am specifically looking @ Semiconductors as well because they were lagging the January rally but are starting to show signs of life and they are volatile once they get moving.

With the way the market is going, luckily there are not a lot of trades that I am in that aren't profitable. However, here is one:
BIG (Big Lots)
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I am hoping that there is a fill of the previous gap lower sometime soon.

NTAP is a trade I might get involved in next week if it gets going as well:
It is consolidating around a key resistance area on the Daily timeframe:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


If you look @ a shorter timeframe, the hourly shows that there is a symmetrical triangle formed:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Will have my eye on a potential break higher this week


Last edited by Bermudan Option; February 3rd, 2013 at 12:15 PM.
Reply With Quote
 
  #14 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Hell of a day today. I am extended to the long side but I have some technical setups on fundamentally unsound companies as well.

Anyways here is an update on CIM going into tomorrow:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I entered this trade on an ascending triangle on the weekly. Right now, I am looking at another ascending triangle but on the hourly/65m timeframe instead. I think it might be do or die time here. Well maybe not die, but the stock might retrace if it doesn't break and hold above resistance

I am currently up 100% on all of the calls. Taking a profit here hasn't crossed my mind yet because I didn't come into this play attempting to risk $1 to gain $2. If this breakout fails, I might take some risk off of the table though.

Update on CIM:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

The market didn't breakout right after the ascending triangle, but soon after. It consolidated higher for a bit and then pushed higher.

I didn't 'take profit' per say, but since the options are 3x the price that I bought them at, I sold 1/3 of my position for the price I paid to establish the entire position. So the 50 remaining contracts are all profit and the worst I can do is get out at breakeven.

Reply With Quote
 
  #15 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

Last week was a rough week. Stopped out of trades in OXY (x2), FCX, BIG, KSS and MS

OXY: I entered this trade because /CL looked primed to breakout on the weekly. I failed to take into account that the Weekly chart means the breakout can happen today or a month from now. My stop was waaay too tight and I did not wait for confirmation before buying. Ahhh welll

FCX: Had a terrible entry back in January. The underlying rallied recently but I was stopped out last week on a pullback because the options expire this week so time decay has increased rapidly

BIG and KSS: Both of these trades were based on the retail sector as a whole looking bullish. However, the retail #s revealed in January disappointed and the whole sector sold off. The sector has rebounded since then, so if I owned the stock I would be at breakeven. However, these were front-month options and I don't have the ability to stay in the trade that long. Got stopped out for a $200/$300 loss on each of them

MS: Rallied 3% when I entered but pulled back since then and I got stopped out. I am still bullish on the financial sector, but I have trades in other stocks right now (CMA/BK/CIM) and a few on the watchlist (FITB and C)

Current Positions
BBT: Consistently below VWAP and doesn't look like it has the legs to move higher. Looking to get out on a break of key support or on a low volume rally higher
RF: Sitting on hands for this one. Not much to be done here. Currently sitting on top of the monthly VWAP. Slowly putting in higher lows but having real issues w/ the $8 level
CMA: Has been trending since I entered the trade. I will stick to trendline on the 30m to manage the position
LRCX: Will use the trendline on the 30m starting 1/25 to manage the position. Hasn't moved since the day I entered the position but semniconductors will hopefully turn from laggard to leaders as the QQQs are showing strength in the last week or so.
EXC: Trend is bearish but too much time left to close out the calls. Will let them expire worthless more than likely or buy them back @ $0.05 when it looks more dire
HNZ: Rangebound. Nothing really left to do except wait until the ER. Not a huge fan of this trade at all. I did not trade my setup here.

Notes about last week
I had a gameplan going into of the week, but I completely forgot about it as soon as Monday morning rolled in. I thought the market was over, and anticipated a move lower/sideways, but I didn't enter a single short or manage my open positions more aggressively. I will be better prepared for the future

Been busy but I will break down some trades in more details. I got a lot of ideas and insight from the board this past weekend, and I need to document my journal better to get better and to eventually give back to the community. One of the main things I will be doing this upcoming trading week is determining what type of trending/non-trending day it is, and trading accordingly.

Reply With Quote
 
  #16 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

No trades executed yet but man it feels like a good day of trading already in terms of managing expectations and risk based on trend (or non-trend)

Reply With Quote
 
  #17 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Bermudan Option View Post
Current Positions
HNZ: Rangebound. Nothing really left to do except wait until the ER. Not a huge fan of this trade at all. I did not trade my setup here.

Well fellas. Sometimes it is better to be lucky than good:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following user says Thank You to Bermudan Option for this post:
 
  #18 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Nicely done

Mike

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

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #19 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received

Thanks Mike.

Today I am looking to potential day trade AAPL. Today is OpEx so the delta is extremely high and volatile. I can wield a lot of power with a little bit of money but my stops have to be razor thin because whatever is out of the money is entirely worthless @ the end of the day

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #20 (permalink)
Hyde Park,
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Tradingview.com
Broker/Data: Optionhouse
Favorite Futures: Options
 
Bermudan Option's Avatar
 
Posts: 467 since May 2011
Thanks: 395 given, 252 received


Prior to that big winner, my account had suffered like a 30% drawdown. I have decreased my size for now and I'm focusing on strengthening my foundation. Because the markets have been grinding lately, I am focusing on scalping with In-the-money weekly options. It is a work in progress, currently I am only putting $150 in a trade and cutting losers short ASAP.

Reply With Quote

Reply



futures io > > > Using Options for Swing Trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
mrBean's Swing Trading journal mrBean888 Elite Trading Journals 34 September 23rd, 2015 02:08 PM
Swing Trading Journal worldwary Elite Trading Journals 101 April 3rd, 2012 05:46 AM
How does 24-hr. trading affect swing-trading e-mini contracts? dblejeune Traders Hideout 2 November 28th, 2011 08:08 PM
Tick Charts For Swing Trading? srgtroy Traders Hideout 5 July 8th, 2011 02:10 PM
Simple Forex Swing trading vroomy The Elite Circle 5 July 6th, 2011 10:15 AM


All times are GMT -4. The time now is 04:33 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.20 seconds with 20 queries on phoenix via your IP 54.91.38.173