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irish pete ag06
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10:32a, 2/1/23
AG
Made an 8/21 "continuation" trade. Used the 30 minute chart and drew a light green line where the 21 EMA was for that candle.



Switched to 5 and entered there for a bounce (or continuation).



Was able to make a miniscule 5% (had to leave desk and sold), but it ended up hitting target 1 which was the 8 EMA on the 30 minute (the blue line) which was also there 2 previous 30 minute candles had bounced (support becomes resistance)

If I had been able to stick around my computer and was able to sell at target 1 it would have been a 20% win.

So far I've played on EMA Flips lately, but yesterday and today I have made a couple of continuation plays on larger time frames since when you zoom out the EMAs are stacked to the upside.
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$30,000 Millionaire
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10:32a, 2/1/23
AG
I have actually met Baylor, he can attest to the fact that IDGAF.
You don’t trade for money, you trade for freedom.
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Bonfire97
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10:34a, 2/1/23
AG
Quote:
Can you give a quick example of "stealing paper"
Yeah, I going to ask 30K the same thing. But, more specifically "stealing paper from some hoes". LOL

I think he is talking about opening and closing options positions intraday and swiping quick returns. Like selling put options, letting the stock go up, then buying them back at a lower cost to close the position out.
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irish pete ag06
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In reply to Bonfire97 • 10:36a, 2/1/23
AG
Yes... today is a sell premium day, so that's more than likely what the hoes experience. Haha


Premium inflated (it's high, so sell).

Fade the large moves with credit spreads (particularly put credit spreads)
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$30,000 Millionaire
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In reply to Bonfire97 • 10:38a, 2/1/23
AG
i was actually talking about playing GTA. moves on a day like today are just too unpredictable.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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10:39a, 2/1/23
AG
the last few fed meetings have had trend days (in both directions) with huge range. Real games would be pinning at like 4070.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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10:42a, 2/1/23
AG
there is 5-6 points of premium on SPX 4000 options that are $67 in the money.
You don’t trade for money, you trade for freedom.
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Bonfire97
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In reply to $30,000 Millionaire • 10:43a, 2/1/23
AG
Quote:
i was actually talking about playing GTA. moves on a day like today are just too unpredictable.
LOL. Yeah, I hear you.
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10:44a, 2/1/23
AG
Literally bored out of my skull today. can't go anywhere because of the ice, in a meeting that isn't exciting, and the market is dull.
You don’t trade for money, you trade for freedom.
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GreasenUSA
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In reply to $30,000 Millionaire • 10:48a, 2/1/23
AG
$30,000 Millionaire said:
Literally bored out of my skull today. can't go anywhere because of the ice, in a meeting that isn't exciting, and the market is dull.
John Carter recommends putting a movie on during periods like this.
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$30,000 Millionaire
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In reply to GreasenUSA • 10:51a, 2/1/23
AG
GreasenUSA said:
$30,000 Millionaire said:
Literally bored out of my skull today. can't go anywhere because of the ice, in a meeting that isn't exciting, and the market is dull.
John Carter recommends putting a movie on during periods like this.
I can't because of the mind numbing all day meeting. otherwise I'd read a book or play games.
You don’t trade for money, you trade for freedom.
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In reply to GreasenUSA • 10:52a, 2/1/23
AG
the better question, is what are you watching?
You don’t trade for money, you trade for freedom.
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GreasenUSA
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In reply to $30,000 Millionaire • 10:58a, 2/1/23
AG
$30,000 Millionaire said:
the better question, is what are you watching?
I'm sporadically playing with my old dog, and about to decide what to fix for lunch. Thought about burying myself in spreadsheets to do some backtesting or administrative crap, but I'm never in the mood to do that while the market is open.
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Charismatic Megafauna
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11:05a, 2/1/23
AG
You could entertain yourself by reading the wsb michael burry "sell" thread... there's almost no market discussion!
https://reddit.com/r/wallstreetbets/comments/10qf28g/michael_burry_sell/
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oldarmy1
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11:09a, 2/1/23
AG
Hello Traders!

FED Day snooze-fest early except for that one tradeable H&S break that came within a hair of Model T against yesterdays ranges. This guy made a great trade using Model T and the extension band break from VWAP. It recovered to flash above VWAP before a shalklow H&S formed, which is confirming again right now. These could become more exacerbated into the release, and VWAP tends to not be as reliable an intraday indicator, so beware.



On another note, I am in the final stages of launching a trading website. Many of you knew this was coming when you learned I had sold the contact center business. It's been a long-time objective and it's close to becoming a reality. It will be much more intense and precise than only sending out trade tweets. There will be an education section, more chart examples of tactics and strategies than you can shake a stick at, and of course real time alerts on buys, trimming, stops and exit point.

There will be an end of trade day blog providing key numbers to prepare your platforms for the next trading day. My software team is working to incorporate real-time Model T confirmations down to a minute chart. This overlay would in essence use the Model T combined with signal, as shown on the above chart, in real time. As we grow much much more will be aded.

Anyone who attended the seminar will have full access for a period ot time TBD. My CFO says 90 days and I'm suggesting 6 months. Will have a decision prior to launch date. Also, whatever that time period becomes will not begin the initial 30 days for any joining when launched. Reason? Because you would be the "tip of the spear" and hopefully provide feedback on modifications and enhancements, to benefit all.

I'm thinking March launch timeframe, but that isn't in stone. As I've typed that shallow H&S confirmation has resulted in another band break from VWAP and is approaching Model T again. Watch that closely.
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$30,000 Millionaire
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In reply to oldarmy1 • 11:18a, 2/1/23
AG
excited to hear more.
You don’t trade for money, you trade for freedom.
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FTAG 2000
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11:31a, 2/1/23
AG
SPY looks to be baby h'ing on the 10 min.
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11:35a, 2/1/23
AG
Just my two cents.


You don’t trade for money, you trade for freedom.
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EnronAg
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11:41a, 2/1/23
AG
Are we expecting fireworks and a crazy +-4% day? Or a rather mild response to Fed decision and JPow Q&A?
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oldarmy1
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In reply to EnronAg • 11:44a, 2/1/23
AG
EnronAg said:
Are we expecting fireworks and a crazy +-4% day? Or a rather mild response to Fed decision and JPow Q&A?
I'd use 3-5 days from now for any trade thoughts. It appears a large number of put leaning trades exist out to 3 days. I thought the CNBC interview nailed the outlook by observing that traders buying puts means market makers are short puts, so expect any initial downturn to be bought - at least to clean up the FED event.
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11:54a, 2/1/23
AG
Lord Fed told me to buy $PTON at $10 and I didn't listen. F!!!!!!!!!!!!!!!!!
You don’t trade for money, you trade for freedom.
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Charismatic Megafauna
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11:55a, 2/1/23
AG
My favorite way to gamble these is to guess what the initial move is going to be and try to catch a lotto to fade it. I thought that would be a spike for puts at the 406.5 touch, but now I'm wondering if it might be .5 or .75 and an initial dump, so calls at 402.3 touch might be the better play. Maybe I'll set up both and cancel the other if one fills
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11:58a, 2/1/23
AG
again, just my two cents. they're not going to pay the put premium (today at least).

If you're going to hedge, february 17 SPY 400/380 would be my hedge trade.
You don’t trade for money, you trade for freedom.
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12:06p, 2/1/23
AG
I sold Jan 100C against AMD shares for $9.15

If you all remember the last time I did this trade, we got the entire premium. It's possible that this continues, but I am completely fine selling at $110 in January or owning it for $9 less.
You don’t trade for money, you trade for freedom.
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oldarmy1
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In reply to $30,000 Millionaire • 12:06p, 2/1/23
AG
$30,000 Millionaire said:
again, just my two cents. they're not going to pay the put premium (today at least).

If you're going to hedge, february 17 SPY 400/380 would be my hedge trade.
Agree 100%
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FTAG 2000
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In reply to $30,000 Millionaire • 12:09p, 2/1/23
AG
$30,000 Millionaire said:
I sold Jan 100C against AMD shares for $9.15

If you all remember the last time I did this trade, we got the entire premium. It's possible that this continues, but I am completely fine selling at $110 in January or owning it for $9 less.


Talking Jan 2024s?
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sts7049
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12:17p, 2/1/23
AG
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In reply to FTAG 2000 • 12:22p, 2/1/23
AG
yes
You don’t trade for money, you trade for freedom.
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sts7049
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1:01p, 2/1/23
AG
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Brian Earl Spilner
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1:08p, 2/1/23
AG
Here we go.
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1:16p, 2/1/23
AG
Waiting for Powell to start talking.
You don’t trade for money, you trade for freedom.
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1:18p, 2/1/23
AG
they're stealing your paper
You don’t trade for money, you trade for freedom.
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1:19p, 2/1/23
AG
Hidden Pivots has the best advice - don't be at your screen.
You don’t trade for money, you trade for freedom.
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Ag CPA
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1:24p, 2/1/23
AG
I wish they would get rid of the press conference Q&A; JP always manages to say something off the cuff that he then has to walk back the following month. Just issue a statement and move on or, better yet, don't even tell anyone if you hiked or cut like the old days and let the market figure it out.
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1:27p, 2/1/23
AG
if you're trading options, you are facing major theta. so don't.
You don’t trade for money, you trade for freedom.
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