Bosco said:

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$30,000 Millionaire said:

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Netflix - I'm in the office so looking quickly while I have 3 minutes before next meeting.

Look for retrace to 525/530 area. probably safe long. Cut below 505.

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Thanks for this. I have my finger on the trigger now.

Anyone else? Just dropping to 508 area.

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Got in when 30K posted. Down a couple of bucks right now since I purchased. I am leaving for lunch now... I expect it to be at 520 when I get back!

Prognightmare said:

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texsn95 said:

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Bosco said:

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cptthunder said:

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Not markets but wanted to share with this group
Just wired money to take my first equity stake in a business thanks in part to the money ive made in the market from the knowledge and insight on this board

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Love it.

This board helped me cover all the mistakes I made when I was totally clueless at the beginning! Love the community here.....everyone is so damn humble....and the biggest guns on here are the most humble.

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I'm still clueless about 95% of this stuff here

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Just keep following the thread daily and one day everything snaps into focus, trust me.

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What kind of account do you need? One of my accounts is just a normal TD account with about 5k of stock I could sell and play with. tamucowpoke@hotmail.com if you have chance to give a run-down..thanks.

Ccutamu said:

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Bosco said:

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$30,000 Millionaire said:

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Netflix - I'm in the office so looking quickly while I have 3 minutes before next meeting.

Look for retrace to 525/530 area. probably safe long. Cut below 505.

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Thanks for this. I have my finger on the trigger now.

Anyone else? Just dropping to 508 area.

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Got in when 30K posted. Down a couple of bucks right now since I purchased. I am leaving for lunch now... I expect it to be at 520 when I get back!

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anyone want to chart it so I can get my head around the TA?

Carlo4 said:

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texsn95 said:

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Bosco said:

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cptthunder said:

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Not markets but wanted to share with this group
Just wired money to take my first equity stake in a business thanks in part to the money ive made in the market from the knowledge and insight on this board

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Love it.

This board helped me cover all the mistakes I made when I was totally clueless at the beginning! Love the community here.....everyone is so damn humble....and the biggest guns on here are the most humble.

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I'm still clueless about 95% of this stuff here

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Red bad
Green good

Rest is just details

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The devil is in the details right? Need the right tools too.

gougler08 said:

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MVIS just flipped bullish on Parabolic SAR...time to rip again?

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Mrin trying to break free again today, and i just sold puts on clov, so the stars are all aligned for a wsb squeezefest

TexasAg2017 said:

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CrazyRichAggie said:

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If I could consistently average $4,000 a week a I would do it in a heartbeat.

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My goal is just to grow an account to the point that 4,000 a week is possible. Got a long way to go but I couldn't do it without what y'all share and explain on here.

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$4,000 Profit each week
Average weekly return of 20%

4,000 / 0.2 = 20,000

Assume risking no more than 20% of account value in any week (likely too much).

20,000 / 0.2 - 100,000 account balance to risk 20,000 to average profit of 4,000.

You can do your own math and then do the same exercise backwards using your current balance to see how long it will take you to get there. Stay disciplined and have your goals in your place and it can happen.

Are you using the ThinkOrSwim app for the TD account? If you are not already that is a good place to start.

redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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It's that simple.

There's another layer where you can sell covered calls and sell naked puts and use the premium earned to help you get there. But you do risk potentially losing the stock (or being PUT additional shares) if you aren't careful.

redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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At its most basic that is it. Now using all the different tools people discuss on this board is where it gets really interesting. Selling covered calls or selling puts seems to be the first step alot of people take including myself
But as you have seen there are so many different tools and techniques at your disposal

$BABA Put sweepers stepping on the gas.

Same expiry, different strikes, all large size. pic.twitter.com/6oLjliAoJC

— Theta Warrior (@ThetaWarrior) July 21, 2021

cptthunder said:

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FJ43 said:

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redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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Net free = getting your original capital back at whatever % of position you need to sell.

Your scenario is correct though.

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This is a good point and for me recently with a little more downside coming into play in the market there have been times were for example i will buy 3 calls and sell 2 to get net free sooner and leave one for a runner
May not be textbook or the best way to grow an account but it has fit my risk profile more recently

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I do the same all the time. Depends on the action and strength. Also the opposite. Sometimes I buy 10 and only have to sell 4 to go net free.

I am excluding selling covered calls, naked puts, trading shares etc. in the basic explanation of course.

redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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In it's simplest form, yes. But you could also sell 10,20, 80% of shares to get net free, or do it through calls, covered calls, sold puts, etc.

One thing to keep in mind that I'm not sure everyone thinks about is taxes. In your example of buying at 1000 shares at $1 ($1000 investment) and then selling 500 at $2 ($1000 return). On paper it looks like you are net free and that you took all your risk off the table by getting your original investment back, but that's not really the case after you consider taxes (even worse if it's short-term gains).

BullSprig07 said:

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Are you using the ThinkOrSwim app for the TD account? If you are not already that is a good place to start.

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Nope, just sitting there really doing nothing. Methinks it's time to try and get in on the action. Will check out that app, thanks.

Prognightmare said:

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Got your email and will contact you later

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Much appreciated Prog

ROKU getting tight intraday at the top here. Gonna pick a way soon.

FJ43 said:

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texsn95 said:

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BullSprig07 said:

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Are you using the ThinkOrSwim app for the TD account? If you are not already that is a good place to start.

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Nope, just sitting there really doing nothing. Methinks it's time to try and get in on the action. Will check out that app, thanks.

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TOS is almost required for trading on TDA IMO. So much more advanced than their basic site. Its solid.

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+1 for TOS

FJ43 said:

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redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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Net free = getting your original capital back at whatever % of position you need to sell.

Your scenario is correct though.

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Or via covered calls, selling puts, etc.

redneckag said:

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I have a question about "net free". Is it as simple as buying 1000 shares of a stock at $1, then selling 500 shares once it hits $2? Is there more nuance to it? I have been following the thread for a month or 2 and have learned a lot, I appreciate everyone's insights and willingness to share.

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Yep. An example: I bought 100 shares of WWR a while back at 7.00 or so. My cost basis then was 7.00. I subsequently bought 300 shares when it was around 4.00, dropping my cost basis to (1007) + (3004)/400 = 4.75 cost basis.

Once I had 400 shares, I started selling covered calls at various levels .15 here, .20 there. Each time lowers my cost basis by that amount per share until I get to 0. Then it's net free.

Goal is, if you're a small investor like me, has been to buy 100 shares of something then sell the covered calls on it until you're net free. It's not big money and requires patience but doing this has allowed me to sell covered calls until I have enough cash to buy more shares to sell more covered calls. I have to do this because this is my Rollover account for older 401k accounts I've had over the years. About 80% of it is in ETFs I don't touch and really only play this game with the remaining 20%.

Does that make sense?

FJ43 said:

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ROKU getting tight intraday at the top here. Gonna pick a way soon.

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Sam's levels on ROKU: Through 421 and it should test 444. Through 444 and it should run.

I just bought the 7/30 C450s but keeping a tight stop because I'm front running a little. Could fail quickly.

Double_Bagger said:

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FJ43 said:

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ROKU getting tight intraday at the top here. Gonna pick a way soon.

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Sam's levels on ROKU: Through 421 and it should test 444. Through 444 and it should run.

I just bought the 7/30 C450s but keeping a tight stop because I'm front running a little. Could fail quickly.

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421 back test now

Brian Earl Spilner said:

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FJ43 said:

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Bought DIS 7/23 187.5C at $1.66

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Easy money.

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Gonna be tough but this might still be a winner. Needs to finish green today though.