basically one big rounded bottom on spy/spx for the day
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Last: 12 hrs ago by ProgN
I think that's some sort of gif bat signal for Prog
Ok, this is bold and a perfect lotto.
Sell a 3970/3990 put credit spread, limit of $19. Meaning you should get $19 in credit, and you're risking $1 = $100 for possible $1,900 gain. This will require a small dip and then a rip.
Sell a 3970/3990 put credit spread, limit of $19. Meaning you should get $19 in credit, and you're risking $1 = $100 for possible $1,900 gain. This will require a small dip and then a rip.
Charismatic Megafauna
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AG
And I'm out.
I need a smoke
I need a smoke
If we get to 3968, it should fill
Charismatic Megafauna
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On Thursday I'm giving thanks for you guys.
Ok, this filled. Let's see if we can get a nice push up. This is going to cash settle. If not, we risked $100.
I think we are probably too far away now, but let's see. It's opex and they do crazy stuff in the last 5
C'mon algos, let it rip!
Charismatic Megafauna
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"...also Lord, please help the poor schlub who bought my expiring xsp 396 call for 1.3 just seconds before it nosedived"
Looks like 3960 is the pin. 1 minute to go
3965. Close but no cigar.
I'm always a bit confused on the closing/settled price of SPX. Today the last candle closed at 3967.12 but it looks like SPX actually settled at 3965.48. Why/how the difference? When does it actually close/settle?
Had fun with y'all drive trading for a few hours. Maybe we can try it again Monday.
Y'all have a great weekend and as we approach Thanksgiving and time with family, remember this group has a lot to be thankful for.
Y'all have a great weekend and as we approach Thanksgiving and time with family, remember this group has a lot to be thankful for.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Hey been meaning to ask y'all. How are y'all enjoying the TexAgs app?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Bob Knights Paper Hands
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Whichever price helps you most, it's the other one.
FJ43 said:
Had fun with y'all drive trading for a few hours. Maybe we can try it again Monday.
Y'all have a great weekend and as we approach Thanksgiving and time with family, remember this group has a lot to be thankful for.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
FJ43 said:
Hey been meaning to ask y'all. How are y'all enjoying the TexAgs app?
Only part I don't like is the potential for endless scrolling on threads if you are far behind. I liked knowing when I got to the end of the page and click the next page. You never know when you're nearing the end and it's stressful
bmoochie said:FJ43 said:
Hey been meaning to ask y'all. How are y'all enjoying the TexAgs app?
Only part I don't think is the potential for endless scrolling on threads if you are far behind. I liked knowing when I got to the end of the page and click the next page. You never know when you're nearing the end and it's stressful
Stressful
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
CBOE needs about 15 minutes after market close to calculate the actual closing price based on individual stonks. Normally, it is estimated slightly on the high side. You have to be careful with ATM options because of that. It tends to be better to try to sell at 2:59 unless you're doing the gamesmanship of submitting an order in the last 10 seconds to try to steal from someone.wanderer said:
I'm always a bit confused on the closing/settled price of SPX. Today the last candle closed at 3967.12 but it looks like SPX actually settled at 3965.48. Why/how the difference? When does it actually close/settle?
Anyone tailgating tomorrow? Taking wife and oldest daughter to game tomorrow against UMass.
Thanks to both you and FJ. Have a great weekend!
Man! I was until my son woke up and vomited a couple of times and is now running fever.BaylorSpineGuy said:
Anyone tailgating tomorrow? Taking wife and oldest daughter to game tomorrow against UMass.
Read this and curious what trade(s), position size, risk mitigation, disciplines, etc did you not honor?CC09LawAg said:
Horrible week. Managed to wipe out all my November gains and may end up dipping into my October gains too.
Losses are often the best education for this board
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
We can live trade some of next Friday if you guys want. The volume will be small but we can try some scalps on momo stocks.
Ok I know don't fight the trend but this is a bit much. May look at -5 to 7 puts as a trade out a month. Dec 140s maybe. It's above +3 ATR and been pushing it.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
$30,000 Millionaire said:
We can live trade some of next Friday if you guys want. The volume will be small but we can try some scalps on momo stocks.
Noticed something and curious for confirmation….
The last few low volume holiday trading days have all been modest sized green candles. I presume that's mainly because it's retail/day traders all pushing things up with most of big money taking it easy.
Is this a fair assessment or coincidence?
Yes. Suppresses VIX as well.
FJ43 said:Read this and curious what trade(s), position size, risk mitigation, disciplines, etc did you not honor?CC09LawAg said:
Horrible week. Managed to wipe out all my November gains and may end up dipping into my October gains too.
Losses are often the best education for this board
All of the above?
My main issues were going OTM with calls in energy and then not cutting my losses and honoring stops when the downturn started. "It'll bounce back!" It's amazing what you can convince yourself of when looking at the charts and past behavior…
Then I let those few losses piling up influence my decisions all week, and I'd start every day with a green trade or two and then wind up chasing more with a big red one that would wipe out that mornings gains.
One big problem I'm noticing is that I'm cutting some of my winners way too soon because I'm afraid there will be a dramatic shift that will wipe out my gains. But then when I have a loser I hold on to it. Basically, if I had done the opposite all week of what I did, I'd probably be way up. I think this started when I tried to use stop losses on fidelity and it didn't seem to kick in on one trade and now I just don't trust the system. I need to sort that out.
The simple answer is I didn't admit when I was wrong because I didn't want to lose a few hundred dollars, and instead of sucking it up and ignoring my pride, I'll be out a few thousand now.
Charismatic Megafauna
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I could have written this a couple months ago. A few things still apply to me, but i have been killing it (percentage wise on cash exposed) the last couple weeks by adopting a mindset of "f it" and completely ignoring the what ifs, focusing instead on preserving capital. See green take green, if i have time to watch for a couple minutes and we're heading for an sr level, hold on a bit longer and sell as we approach the level (sell into strength) and don't worry if it busts through, there will always be another trade. If i have to go to a meeting i put a stop, if i get back and they ran my stop and turned it around, oh well. Probably twice as often though i come back and the stop hit and saved me a bunch, or it didn't hit and I'm making money. I am finding that setting stops is an art. Also focusing almost entirely on spy (Spy and xsp), with the exception of uso yesterday. None of this is rocket surgery but the psychological aspect is so hard to master. Scaling down helps
That is exactly what every single non-professional trader goes through. It's human psychology. The way of the world.
And some will tell you to trust yourself and not make the same mistakes without giving specifics. It's very very hard to go against your brain when your own risk and logic bells are going off in your head. And these aren't things you want to re-wire. They are in place through normal life experiences.
What you have to do is find a METHOD. You are losing in this manner because you don't have confidence in what you are trying to do. Even if you feel like you know which way things are headed, you still have that itchy feeling the rug will get pulled on you, right? That's because you're guessing.
It takes a lot of experience before you effectively form your own strategy and gain the confidence to trade effectively with it. But the main thing you need to get better at is identifying plays. Why that one? Whats the goal? What's the chance of success? What's my strategy? What are my indicators? What are similar stocks doing? What is the sector doing? What exterior factors could affect it? When you can line it all up with confidence, that's when you will trade calmly and not act impulsive with the slightest twitch in the market. Again, the majority of money is made by selecting the right entry.
Gone needs to be the thought that you are going to "catch it just right" and it's going to take off and you're going to be high fiving everyone here and laughing and singing. That line of thinking makes you jump in unprepared. (More of a general "you" than you specifically. Talking to the board here)
I'll post some charts showing indicators that point to good entries. One of these days.
And some will tell you to trust yourself and not make the same mistakes without giving specifics. It's very very hard to go against your brain when your own risk and logic bells are going off in your head. And these aren't things you want to re-wire. They are in place through normal life experiences.
What you have to do is find a METHOD. You are losing in this manner because you don't have confidence in what you are trying to do. Even if you feel like you know which way things are headed, you still have that itchy feeling the rug will get pulled on you, right? That's because you're guessing.
It takes a lot of experience before you effectively form your own strategy and gain the confidence to trade effectively with it. But the main thing you need to get better at is identifying plays. Why that one? Whats the goal? What's the chance of success? What's my strategy? What are my indicators? What are similar stocks doing? What is the sector doing? What exterior factors could affect it? When you can line it all up with confidence, that's when you will trade calmly and not act impulsive with the slightest twitch in the market. Again, the majority of money is made by selecting the right entry.
Gone needs to be the thought that you are going to "catch it just right" and it's going to take off and you're going to be high fiving everyone here and laughing and singing. That line of thinking makes you jump in unprepared. (More of a general "you" than you specifically. Talking to the board here)
I'll post some charts showing indicators that point to good entries. One of these days.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
As a fan of swing trading ETFs, I second this.Quote:
Again, the majority of money is made by selecting the right entry.
I think a big part of my problem is I started right during this energy run up and basically doubled my "fun money" in month one and got a way overinflated ego. And now I get my serving of humble pie.
If I can land somewhere in between consistently I'll be happy. But you're spot on - when things start to go haywire I don't have any organizing principles or plan to help me refocus.
I think I am going to scale way back on position sizes for a few weeks and focus on the % of my plays and not the actual $$.
If I can land somewhere in between consistently I'll be happy. But you're spot on - when things start to go haywire I don't have any organizing principles or plan to help me refocus.
I think I am going to scale way back on position sizes for a few weeks and focus on the % of my plays and not the actual $$.
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Heineken-Ashi said:
But the main thing you need to get better at is identifying plays. Why that one? Whats the goal? What's the chance of success? What's my strategy? What are my indicators? What are similar stocks doing? What is the sector doing? What exterior factors could affect it? When you can line it all up with confidence, that's when you will trade calmly and not act impulsive with the slightest twitch in the market. Again, the majority of money is made by selecting the right entry.
Seriously though, is there a better play than the model t off an overreaction dip off a single piece of news from just a few news sources, that goes against the context of everything else that's going on? The uso play yesterday was beautiful. Lying manipulating china shutting down for covid again? Gtfo here.
Heineken-Ashi said:
Gone needs to be the thought that you are going to "catch it just right" and it's going to take off and you're going to be high fiving everyone here and laughing and singing. That line of thinking makes you jump in unprepared. (More of a general "you" than you specifically. Talking to the board here)
This is especially difficult if you have spent any time on wsb, or if you were here in the early days of NIO. It was eye opening to learn that the zach morris/atlas crew have/ had most of their success by scalping, stacking 10-20% gains one on top of another again and again
What is the easiest way to chart model T, particularly in trading view? What specific data points do I need to be looking at?
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