Ragoo said:i misspoke. It is the EMA you posted.krosch11 said:
In TOS it's called MovAvgExponential for EMA.
If he's using daily it's DMA I believe
McInnis 03 said:
FOR IRISH!!!!
Quote:
The 5 Fundamental Truths of Trading:
1. Anything can happen.
2. You don't need to know what is going to happen next to make money.
3. There is a random distribution between wins and losses for any given set of
variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.
5. Every moment in the market is unique.
The 7 Principles of Consistency:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.
I'm 2/3rd of the way there!aggiedaniel06 said:
The way to be successful trading long term is to trade small positions and take small losses often, oh and be an emotionless sociopath!
aggiedaniel06 said:
I've read it many years ago.
The difference between trading and betting on horses is that you as a participant affect the market. Let's say you do hours of really accurate TA and identify that a stock is at clear support, and showing all the right MA's and decide that the setup is perfect and dive in big. All it takes is for Blackrock to dump a million shares to throw a wrench in your plans.
$30,000 Millionaire said:
I hope so. I've held bear thesis for a long time and it just seems the bull train cannot be stopped, or rather, will not be allowed to stop.
aggiedaniel06 said:
Price action by design is meant to lie to you. The big boys want you to think the opposite of what they are doing.
How many people sold in February or October 2018? Price action both times was very bullish. But in February Covid was looming and in 2018 Fed was tightening. There was clear money outflow in both cases, weeks in advance.
Conversely how many bought in March or December 2018? In March, 3 trillion cash infusion into the market. On Christmas eve 2018, JPow met with the CEO's of the big banks and offered them the Olive branch to end QT and cut rates again.
The world of IB is filled with sociopaths. All the best traders I know are. No empathy whatsoever and lie about everything. Remember Bill Ackman pleading on CNBC?
Support/resistance levels, TA, etc... pro traders are aware that retail knows all these things. The way to be successful trading long term is to trade small positions and take small losses often, oh and be an emotionless sociopath!
aggiedaniel06 said:
Price action by design is meant to lie to you. The big boys want you to think the opposite of what they are doing.
How many people sold in February or October 2018? Price action both times was very bullish. But in February Covid was looming and in 2018 Fed was tightening. There was clear money outflow in both cases, weeks in advance.
Conversely how many bought in March or December 2018? In March, 3 trillion cash infusion into the market. On Christmas eve 2018, JPow met with the CEO's of the big banks and offered them the Olive branch to end QT and cut rates again.
The world of IB is filled with sociopaths. All the best traders I know are. No empathy whatsoever and lie about everything. Remember Bill Ackman pleading on CNBC?
Support/resistance levels, TA, etc... pro traders are aware that retail knows all these things. The way to be successful trading long term is to trade small positions and take small losses often, oh and be an emotionless sociopath!
McInnis 03 said:Quote:
The 5 Fundamental Truths of Trading:
1. Anything can happen.
2. You don't need to know what is going to happen next to make money.
3. There is a random distribution between wins and losses for any given set of
variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.
5. Every moment in the market is unique.
The 7 Principles of Consistency:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.
"Trading in the Zone" - Mark Douglas
Just read this book. I wouldn't recommend it, it's too foo foo mind magic **** (as I call it) but he's not wrong here.
https://www.i24news.tv/en/news/coronavirus/1594747958-study-fda-approved-drug-may-reduce-covid-19-to-common-coldRice and Fries said:
https://www.nasdaq.com/articles/do-options-traders-know-something-about-abbvie-abbv-stock-we-dont-2020-07-14
Apparently, some Israeli bioengineer found a way to stop corona with an existing FDA drug called tricor. Which is owned by ABBV...
Edit: Website is in Hebrew
https://www.israelhayom.co.il/article/780911
aggiedaniel06 said:
Hah trading oil futures will teach you that quick. I knew waiting wasn't an option as my home was never big enough to take physical delivery of a few million barrels!
McInnis 03 said:If I am expecting an upwards move there are a few ways to do it, but in this situation I"m "buying" debit spreads.jsap said:How do you setup call spread? Buy to open 101p and 102c?McInnis 03 said:
CRWD is on my radar as well. I'm consistently looking for daily charts that have been on the uptrend for awhile but have pulled back to the 8-21 day EMA. Well, CRWD has gone even harder, and has now 3 inside bars in a row on the hourly. That's quite a bit of consolidation.
EDIT: And like that I get into a few 101/102 call spreads for this week at .57
I buy the 101C and sell the 102C. This caps my gain at the difference in the strikes, meaning I can make $1 ($100) per contract assuming the price is above 102 at expiration. Or if the stock makes a good move for me early I can close the spread by selling the 101C and buying to cover the 102C.
