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Brewmaster
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In reply to $30,000 Millionaire • 9:37p, 8/4/22
AG
$30,000 Millionaire said:
ProgN said:
I'm feeling so burned out right now. I imagine the heat wave is the main reason, but I need to get away.


Hence why I quit my job and am doing only what I want and when I want for a while.

congrats 30k!

irish pete made me think of this scene!

Don't lose faith gents, tomorrow is lotto Friday!

AMD and NVDA are going to be bonkers tomorrow
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lobwedgephil
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In reply to irish pete ag06 • 10:19p, 8/4/22
irish pete ag06 said:
Yep, I was doing fine without hard stops 2 weeks ago when I was on my green streak. This newfound apprehensiveness to take an L (lack of discipline) means I don't need to trade without them.
To be honest, this is normal, trading is a journey, and you need to be constantly learning, adapting. When you are in a tough streak, size way down, take smaller wins to get your confidence back. Accept that losses are part of the game, but also that your number 1 job is protecting your capital.
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$30,000 Millionaire
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10:19p, 8/4/22
AG
Hey Prog,

https://www.fiercetelecom.com/cloud/nightingale-leaves-cisco-davidsons-role-expands

This is a big deal for Fastly.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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In reply to Brewmaster • 10:24p, 8/4/22
AG
I'll get another job eventually. I'm too young to quit.
You don’t trade for money, you trade for freedom.
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G Money
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In reply to irish pete ag06 • 11:37p, 8/4/22
AG
Long time lurker but this group has made me an above average trader. Similar to you, I was really knocking it down during the chop. Playing the reversal when things got extended, winning both ways.

Trend got me red a couple of days but have managed to stay green by doing a combination of all of these things:

1. Use stops. Just like 30k says. When I enter a trade, I immediately entered a stop at .70 percent of price. At the very least on a portion of the trade just to have an area to re-evaluate. When a trade goes green I move the stop up to not let it go red and enter another buy 10% below stop. You won't go broke limiting trades from going green to red and can average down and again use a stop to prevent anything going against you big.

2. I learned instead of doubling down to roll options and move both the target and extending the time frame on options. Just elongating the ability for the initial thesis of the trade to work.

3. Set a time limit. If my trade hasn't moved my way in 30 minutes, I get out of the trade.

4. Lastly and most importantly have a process you understand to enter a trade. Redler's above 8 and 21 play calls, below play puts. Mancini's levels on SPX. 30k's +/- 3 ATR and FJ43 saying stick to one type of trade until you can see it and understand it.

Hope this helps someone limit their losses to papercuts and increases your winning percentage on trades.

Happy trading!
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irish pete ag06
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In reply to G Money • 11:43p, 8/4/22
AG
Good stuff man. Makes total sense. Removes emotion. Still get the action of an average down.

Time limit is a big one. I've actually added this to my rules.
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spud1910
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In reply to oldarmy1 • 7:04a, 8/5/22
AG
Nice one! From your place in Buffalo?
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oldarmy1
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In reply to spud1910 • 7:18a, 8/5/22
AG
This one from one outside of Hearne.
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Brian Earl Spilner
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In reply to Brian Earl Spilner • 7:53a, 8/5/22
AG
Brian Earl Spilner said:
Of course the day I give up on SQQQ is the day QQQ starts dipping immediately after.
Aaaand there's the big dip now. You're welcome, folks.
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Spoony Love
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7:57a, 8/5/22
AG
Ugly pre-market move but still in the 408-414 box. I think you could scalp for next week if we see 408 today, depending on news of course.
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BaylorSpineGuy
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7:58a, 8/5/22
My harami cross interpretation was right!
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spud1910
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In reply to BaylorSpineGuy • 8:08a, 8/5/22
AG
BaylorSpineGuy said:
My harami PASTRY interpretation was right!
FIFY!
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Charismatic Megafauna
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8:11a, 8/5/22
AG
Mmmm breakfast harami
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sts7049
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8:13a, 8/5/22
AG
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WestTexAg12
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8:13a, 8/5/22
AG
Well… my NVDA calls are worthless as tits on a boar now
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Ag CPA
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8:23a, 8/5/22
AG
Can't stand the good news is bad news market.
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Red Red Wine
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8:51a, 8/5/22
AG
How is the job news "shocking'?

The govt checks ran out a few months ago, inflation is rampant, and people are running out of money. So, what do you do? YOU GO GET A JOB!!!!
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Irish 2.0
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In reply to Ag CPA • 8:55a, 8/5/22
Ag CPA said:
Can't stand the good news is bad news market.
Same could be said with **** news on ERs and guidance getting bought up
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Bob Knights Paper Hands
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8:57a, 8/5/22
Is anybody trading anything this morning?

I got a big "no go" for my early TSLA trades, so nothing there. I really think it tanks pretty good, but I'm not willing to put my money on it and dor want to buy puts when we're already in the bear supply zone.

I'm waiting to see what we do at this 4130-4129 area to see if that gives market direction.
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Irish 2.0
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In reply to Bob Knights Paper Hands • 8:58a, 8/5/22
Not touching **** for another 30mins
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$30,000 Millionaire
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8:59a, 8/5/22
AG
I was gonna post what Mancini said.

I'd want over 4140 to be long. Don't be surprised to see -2% today.
You don’t trade for money, you trade for freedom.
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zebros_95
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8:59a, 8/5/22
AG
Same here
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$30,000 Millionaire
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In reply to Bob Knights Paper Hands • 8:59a, 8/5/22
AG
Bob Knights Liver said:
Is anybody trading anything this morning?

I got a big "no go" for my early TSLA trades, so nothing there. I really think it tanks pretty good, but I'm not willing to put my money on it and dor want to buy puts when we're already in the bear supply zone.

I'm waiting to see what we do at this 4130-4129 area to see if that gives market direction.


I noped out for the moment
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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In reply to Red Red Wine • 9:00a, 8/5/22
AG
Red Red Wine said:
How is the job news "shocking'?

The govt checks ran out a few months ago, inflation is rampant, and people are running out of money. So, what do you do? YOU GO GET A JOB!!!!


Stagflation, yo.

Wages increasing a lot but less than prices.
You don’t trade for money, you trade for freedom.
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Bob Knights Paper Hands
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9:00a, 8/5/22
If SPX closes the week under 4130, we officially get a harami pastry on the weekly chart as well as the daily that Bear Doc pointed out yesterday.
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$30,000 Millionaire
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9:01a, 8/5/22
AG
4130 level has sellers.
You don’t trade for money, you trade for freedom.
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WestTexAg12
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9:01a, 8/5/22
AG
I was going to try to scalp some quick TWTR or BYND calls for calls that expire today, but never could pull the trigger.
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$30,000 Millionaire
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9:01a, 8/5/22
AG
Wtf is a harami pastry.
You don’t trade for money, you trade for freedom.
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Brewmaster
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9:03a, 8/5/22
AG
we going to rippy now
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sts7049
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In reply to $30,000 Millionaire • 9:03a, 8/5/22
AG
we broke down then reclaimed it now. that's a good sign
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Brewmaster
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In reply to $30,000 Millionaire • 9:04a, 8/5/22
AG
$30,000 Millionaire said:
Wtf is a harami pastry.
a bearish cholesterol and fat filled goody
lol
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cptthunder
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9:05a, 8/5/22
I know Farmer has been beating the OIL drum for some time now and I think its more then justified to add some more pure play natural gas guys to that list
NAtGas is over $8 again and alot of the bigger players earning have been supressed because of their hedges being way under spot price for the last two quarters. Those low hedges should start rolling off the second half of the year and we could see a major jump in earnings for the pure play gas players
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Bob Knights Paper Hands
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In reply to $30,000 Millionaire • 9:05a, 8/5/22
$30,000 Millionaire said:
Wtf is a harami pastry.

A harami, but Baylor mistyped and pastry came out.
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Bob Knights Paper Hands
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In reply to sts7049 • 9:06a, 8/5/22
sts7049 said:
we broke down then reclaimed it now. that's a good sign

That and VIX has been consistently declining this morning and is now at yesterday lows.
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AgEng06
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9:07a, 8/5/22
AG
I know the harami pastry came about organically, but I think harami pastrami sounds better.
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