This$30,000 Millionaire said:
OA will run a good service in my opinion. He's a winner and more importantly a professional.
texAZtea said:
I don't post in this thread often because I have nothing intelligent to add, but I read it every day.
My trading account is very small, partially because I'm early in my career and partiality to keep from losing it all. I have not pursued options because I don't understand the strategy well enough yet.
My trading is essentially switching between tqqq and sqqq when the 8 and 20 EMA's cross and there's confirmation that its not a fake-out. I make ~2% of the money i trade with on an average day. I can only trade 2 days a week and sit out days I don't understand.
This week I started looking at Heikin-Ashi candles for guidance on when to stay in a position or exit, and my average day jumped to 5% of the money I trade with just from not exiting way too early or too late. I wanted to say thanks to Heineken for being a proponent of that tool.
GreasenUSA said:
I'm backtesting a strategy on SPY, cooking in the crockpot, and heading to a brewery in a few hours.
Well, I'm only making about 6 servings, and it's my meal prep for the week... but sure. First come, first serve!$30,000 Millionaire said:GreasenUSA said:
I'm backtesting a strategy on SPY, cooking in the crockpot, and heading to a brewery in a few hours.
Are you going to share with the class?
Thanks for the great answer!Heineken-Ashi said:
There are never certainties when trading. No charting can perfectly predict behavior of an entire market, whether manipulated by makers, influenced by algorithms, or dangling between retail bulls fighting against retail bears.
The best you can do is find something you trust and stick to it. And there's no one answer.
And to your specific issue, there's multiple strategies that do wait for confirmation of reversal and can limit losses if incorrect. Beer candles, also known as Heiden-Ashi candles, if properly used, are a phenomenal way to make sure you only enter after a reversal or after a period of indecision. This way, though you might not bottom tick, you stand a great chance of catching the trend. This is because the nature of the candle is an average of the period. It starts at the middle of the body of the last candle. So if it is pointing up with no lower wick, you are in an uptrend.
It won't make you rich to merely trade using these candles. But it will tell you when the trend are starting and give you decent warning that they have ended. It is up to you to put on protection through stops and hedges if a trend that you have entered does fail quickly.
What makes people really good is when they can line up 3-4 indicators that they FULLY understand. One might signal entry. One might signal overbought / oversold. One might signal institutional interest. One might signal potential of reversal. There's lots. Many many here will give insight and do regularly as to one's they trust.
Long story short, you cant be perfect. But you can employ sound and consistent strategies to give yourself the best chance. And many here are picking up on these through learning from others. It's amazing to see it work. The most successful traders are closer to a mile deep and inch wide than vice versa. The biggest obstruction, and I speak for experience, is attempting to become a jack of all trades.very few even have the time for that, even if they do have the intellectual capability.
Username checks out?GreasenUSA said:Well, I'm only making about 6 servings, and it's my meal prep for the week... but sure. First come, first serve!$30,000 Millionaire said:GreasenUSA said:
I'm backtesting a strategy on SPY, cooking in the crockpot, and heading to a brewery in a few hours.
Are you going to share with the class?
Heineken-Ashi said:
The best you can do is find something you trust and stick to it.
Long story short, you cant be perfect. But you can employ sound and consistent strategies to give yourself the best chance.
The most successful traders are closer to a mile deep and inch wide than vice versa.
ProgN said:
Closing the market for President's day is the dumbest f'ing thing ever with respect to holidays. This just sucks!
Rant over
Boy Named Sue said:
This is the 1-minute chart for the last hour on Friday. The channel between the lines was money. Reading up a little afterward, I guess it's called a "3-drive pattern"? How common is it to see this pattern?
I just bought ATM calls at the bottom line and sold as soon as I saw the first red volume bar pop up. All were just market orders, so they'd be fast.
When it broke above the top line I went in again, and that ended up being the most profitable trade of the day.
Does anybody else use the 1-minute to actively trade like that? This may be my new approach, because trying to set stops and profit exits so I can still work has been cumbersome and I don't end up getting any work done anyway. But with this approach, I had a fun and profitable little 45-60 minute run.
I should have read that closer. Here I am charting XLF and trying to see what you're seeing.Dan Scott said:
XFL launched for 3rd time this past weekend.
2001 market crash
2020 market crash
2023???
He Hate MeDan Scott said:
XFL launched for 3rd time this past weekend.
2001 market crash
2020 market crash
2023???
If $SPX can hold 4050 Tuesday and Wed, looking for a rally to 4200 + into the first week of March. After that looking for some ugly sticks.
— John F. Carter (@johnfcarter) February 21, 2023
I want to see this happen and VIX crush down into the mid to low 18s or even 17s. I will be a buyer on calls out 45-60 days as a trade.irish pete ag06 said:If $SPX can hold 4050 Tuesday and Wed, looking for a rally to 4200 + into the first week of March. After that looking for some ugly sticks.
— John F. Carter (@johnfcarter) February 21, 2023
FJ43 said:I should have read that closer. Here I am charting XLF and trying to see what you're seeing.Dan Scott said:
XFL launched for 3rd time this past weekend.
2001 market crash
2020 market crash
2023???
Charismatic Megafauna said:
A 30k narrated trading day!? Let's do this!
$30,000 Millionaire said:Charismatic Megafauna said:
A 30k narrated trading day!? Let's do this!
I won't have time beyond the IB.
