Charismatic Megafauna said:

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I've got xsp 415 pinned for no other reason than it seems like a happy spot in yesterday's opening range and most of day range, and this morning's opening range. Also i got them for .1, trying to fill more for .05

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Need to goose that spread here the last twenty minutes.

Did the market close already? Sorry...i got distracted!

Lol. Shocking how frequently we go back and revisit orh at some point during the day.

My consolation price is that i had a couple 414/413 put spreads that i had pieced together for free this morning, then turned them into 414/413/412 flys for an extra couple bucks then they closed a little itm for a little "lunch money" happy with the way that turned out, when i turn my spreads into flys they usually get blown through

Have a great weekend guys, hope we limit down Monday!

Edit: Man it was nice to have oa1 play with us this week!

irish pete ag06 said:

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irish pete ag06 said:

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So I decided to start trading 1 setup and 1 setup alone and logging my trades. I love to share with yal (obviously), even if it's bad.

Looking at 20 trading day batches, so 4 weeks. (1-3 trades per day... 3 will be a rarity)

I'm only trading an 8/21 EMA cross. I will look to enter with a limit order on the 21 EMA in the options chart or on the equities chart.

Stop is set based on S/R and/or an ema cross back against my position.

$300 risk on options, $1000 risk on equities or leveraged ETFs

I set 2 targets based on S/R and based on timeframe (meaning target 1 & 2 will be much closer to entry on 3 minute chart vs entry on a 1 hour or daily chart)

(see I do know what S/R means Prog, LOL)

Off to a decent start so far (only on day 2)

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So I posted an update to this last Friday... Weirdly, I can see that post under my profile, but it has disappeared from this thread, so here's a screenshot of that:



Update from today

I'm on trade 13 using the 8/21 EMAs exclusively. The record is 9 wins to 5 losses with average win being 13% and average loss being 7%.

I've missed some HUGE win trades because of work, but I'm happy with this sytems results so far.

Only changes I made were some "continuation trades" where I bought a dip on a 21 EMA re-touch on a trend up day. Got tired of buying "puts" on trend up days.



Some of these trades were made on very busy days, so I wasn't able to update the chart on the far right showing the EMAs. I really want to make a pine script editor that will instantly show the 8/21 EMA situation of the week, day, 4 hour and hour in the top right of Tradingview, so if anyone knows how to use Pinescript and can point me in that direction, let me know.

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10-6 with average win being 14% and average loss being 8%

13 of 16 trades have been against the trend... which naturally occurs a lot when you are trading EMA flips. Trend is up and all 13 "flip" trades were puts these last 2 weeks.

For my own personal record keeping, I'm going to separate these 2 trades in my spreadsheet.

The continuation trades are better made on longer time frames (10/15/30) and are essentially "buying the dip" on the trend. For these I've waited to enter on the 8 or 21 EMA re-test and use supply/resistance or the other MAs as a stop loss depending on the setup.



Overall. What this exercise has done has forced me to trade like a robot. There is defined risk on every trade. I've stuck to it. I've traded a similar risk amount every time. They have all been "my trades." Not a single follow trade.


It's funny because I started this 2 weeks ago and and I was about 40% of the way through "Trading in the Zone." I finished that book this week. His last chapter is about a trading exercise that trains you to trade objectively. The program is exactly what I started doing on my own 2 weeks ago before I had even read that chapter. It felt pretty cool to do organically what Mark Douglas was about to tell me to do.

Microsoft will be the winner of the next decade.

You're welcome

Yes. They're going to own productivity.

I’m not gonna lie to you folks. Mastering 2-3 day trading setups on 1-2 symbols will save you a lot of prep time. Used to give my whole weekends to charting now I just know what I’m looking for and it’s a lot more peaceful.

— Stockrateez (@Stockrateez94) February 6, 2023

Here we go. Here are my top 16 stocks for the year. The code spits out the top 20, but I removed 4 because of huge gap ups that skewed the result.




Here we have the number of stocks trading above the 120 EMA for the past 100 days. Sure looks like a leg down is coming based on how 2022 went.



Weekly Plays:
PSN. Target Price =~50 for +12%


RYTM: Shows up in my top 16 chart. Looks like it's bouncing off lows. Targeting ~$33 for +17%


For those natural gas lovers, here's 25 years of monthly performance broken out by monthly averages. Lesson here is to buy in at the end of January, sell in Sept?.

With a name like that, it's shocking you can't trust his judgement.

And PSN with an annoying 5% gap up this morning. Supposed to do that after I buy in, not before.

$30,000 Millionaire said:

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If any of you follow Cheeto Hunter on Twitter, don't.

He had a Twitter spaces yesterday and exposed himself as stupid.

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My 2 cents on twitter. You have to assume they are all idiots until they prove otherwise. Haha.

It's guilty til proven innocent.

Harry Wang blocked me on twitter. I probably shouldn't have told him he was a terrible trader.