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oldarmy1
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In reply to FTAG 2000 • 10:00a, 6/8/23
AG
FTAG 2000 said:
oldarmy - can we talk AFRM?

I see in your note you had it called out.

It's hit on a couple of my scans and is riding some news from Amazon yesterday.

Still worth entry, or time for a pull back?

52 week model-T is at 24ish.



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Farmer @ Johnsongrass, TX
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10:02a, 6/8/23
Quote:
The number of Americans filing for unemployment benefits jumped to 261K in the week ended June 3rd 2023, the highest figure since October 2021, and above market forecasts of 235K. Figures for the previous week were revised slightly higher to 233K from an initial 232K. It marks a third consecutive week of increases in the number of initial jobless claims, a sign the labor market strength may be fading.
JP going to pause?
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EngrAg14
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11:23a, 6/8/23
AG
So approaching 2300 again.
If it gets its 3rd rejection, I'm assuming this is a good entry point for puts
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$30,000 Millionaire
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12:01p, 6/8/23
AG
A thought on trading psychology. I am not sharing this to brag but because I want you guys to understand.

I'm up 40% on my trading account since April 15. I'm 19/20 green on non lotto trades. I am starting to feel like I can't lose. That's a dangerous feeling for a trader.

I'm going to take a few days and really size down.
You don’t trade for money, you trade for freedom.
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Brian Earl Spilner
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12:51p, 6/8/23
AG
Bulls fighting back
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BaylorSpineGuy
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In reply to EngrAg14 • 12:57p, 6/8/23
EngrAg14 said:
So approaching 2300 again.
If it gets its 3rd rejection, I'm assuming this is a good entry point for puts


I would say yes but look at 5/8-5/16. It knocked on that 415 range like 7-8 times before knocking through it.
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EliteZags
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1:10p, 6/8/23
AG
still down a stupid percentage on my AFRM position.. but I can psychologically pretend I bought in the 9s right- because I didn't dump in the 9s..
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CheladaAg
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1:19p, 6/8/23
AG
Does anyone care to share or know of types of day trading strategies where you constrain the time window of day trading, say 830 am opening bell to 930 or 10 am? TIA
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$30,000 Millionaire
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In reply to CheladaAg • 1:32p, 6/8/23
AG
CheladaAg said:
Does anyone care to share or know of types of day trading strategies where you constrain the time window of day trading, say 830 am opening bell to 930 or 10 am? TIA


What do you want to know?
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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1:35p, 6/8/23
AG
If you DM me your phone number, I am willing to call you as long as my identity is kept private.
You don’t trade for money, you trade for freedom.
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Brian Earl Spilner
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1:49p, 6/8/23
AG
Bulls really seem to be doing work lately. Since the start of June, they're not really letting up for more than a day at most. Most intraday dips seems to recover pretty quickly.

Are we actually moving past the recession fears at this point? Comparing this to the rally in August 2022, that one was a much more violent move up and a quick fall back down. Now it's a lot more of a sustained upward trajectory.

I've had quite a bit of cash on the sidelines for most of this rally, but now I'm starting to get antsy feeling like I better jump in sooner than later...
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Brewmaster
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In reply to CheladaAg • 2:08p, 6/8/23
AG
CheladaAg said:
Does anyone care to share or know of types of day trading strategies where you constrain the time window of day trading, say 830 am opening bell to 930 or 10 am? TIA
One could look for good setups, buy dips, set stops, take profits at or before 10 am, done and done.

30K's offer is a very generous one too! I'd take him up on it. Heck, I probably should!

The first hour of every day is probably the best statistically to make money scalping/ day trading.
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$30,000 Millionaire
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2:09p, 6/8/23
AG
we could do a zoom.
You don’t trade for money, you trade for freedom.
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Brewmaster
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In reply to $30,000 Millionaire • 2:10p, 6/8/23
AG
$30,000 Millionaire said:
A thought on trading psychology. I am not sharing this to brag but because I want you guys to understand.

I'm up 40% on my trading account since April 15. I'm 19/20 green on non lotto trades. I am starting to feel like I can't lose. That's a dangerous feeling for a trader.

I'm going to take a few days and really size down.
Can you enlighten us? I had a streak like that ages ago, but I've been quick to take profits and slow to cut losers lately.
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FTAG 2000
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2:11p, 6/8/23
AG
Man I could totally use that too. Can't seem to get into a rhythm these days.

I think a lot of it I keep waiting for the drop with recession fears and what's up in the economy. Just need to trade what's in front, not hold overnight, and prepared to get out before getting run over by the down elevator.
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jimmo
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2:24p, 6/8/23
wow
AMZN & MSFT both had sharp down spikes lasting < 1 sec.
separate too, not simultaneous.
not sure what that indicates
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$30,000 Millionaire
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In reply to Brewmaster • 2:40p, 6/8/23
AG
Brewmaster said:
$30,000 Millionaire said:
A thought on trading psychology. I am not sharing this to brag but because I want you guys to understand.

I'm up 40% on my trading account since April 15. I'm 19/20 green on non lotto trades. I am starting to feel like I can't lose. That's a dangerous feeling for a trader.

I'm going to take a few days and really size down.
Can you enlighten us? I had a streak like that ages ago, but I've been quick to take profits and slow to cut losers lately.
No magic,

Just took the setups that have been there with predefined risk prior to entering:

1) I knew indexes were likely to go up and I traded 0-5DTE SPX calls off that belief. I won't get into strategies, but as usual, I decide up front if I am scalping or shooting for a target. With 0 DTE, I tend to scalp and take profits quickly. With time, I am obviously more patient.
2) SHOP, NVDA, TSLA, NFLX, GOOGL, and AMZN have been volatile as of late and have been good to day trade. Just NFLX has been 15%. For day trading, I look for supply breaks with volume or demand holding as entry points. Supply breaks have been exceptional to trade in the last month.
3) I don't trade between 11 - 1 central time, no matter what. I'll close things, but I won't open positions

You won't be slow to cut losers if you know your stop in advance before you enter and you know your target / plan. If you trade smaller with wider stops, you'll be more successful.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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2:41p, 6/8/23
AG
maybe an obvious one, but I also haven't traded every day. If they day looks blah, I just don't bother.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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2:42p, 6/8/23
AG
0 DTE lotto I would look for MES to touch 4300 in the next 5 minutes.
You don’t trade for money, you trade for freedom.
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oldarmy1
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In reply to EngrAg14 • 2:46p, 6/8/23
AG
EngrAg14 said:
So approaching 2300 again.
If it gets its 3rd rejection, I'm assuming this is a good entry point for puts
As long as you are either long shares or trading call options, and viewing Puts as a hedge out now to August. The charts are suggesting a breakout with a bulkl flag above previous multi-attempt resistance.
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$30,000 Millionaire
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In reply to $30,000 Millionaire • 2:46p, 6/8/23
AG
$30,000 Millionaire said:
0 DTE lotto I would look for MES to touch 4300 in the next 5 minutes.
basically happened. congrats.
You don’t trade for money, you trade for freedom.
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texags79
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2:47p, 6/8/23
I've been buying IHRT since last week. Not sure when to get out. Pretty sure it's going to continue upwards. Executives have been buying up shares for the past month. To the moon!
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oldarmy1
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2:55p, 6/8/23
AG
If you bought just 10 $18 CVNA calls when it hit Model T you made $6-7k dollars this afternoon.
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spud1910
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In reply to $30,000 Millionaire • 2:55p, 6/8/23
AG
$30,000 Millionaire said:
we could do a zoom.
I would love to do this.
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$30,000 Millionaire
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2:58p, 6/8/23
AG
4295C could be good. Get under $1
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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In reply to $30,000 Millionaire • 3:02p, 6/8/23
AG
$30,000 Millionaire said:
4295C could be good. Get under $1
m
Didn't work.
You don’t trade for money, you trade for freedom.
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oldarmy1
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3:29p, 6/8/23
AG
Any night owls going to be up for NIO earnings at 4:30am?

Everyone expects weak earnings and the stock has been pummeled from $20's last Pivot to $7.82, after dropping from the $60's on our mass accumulation exits from sub $5.

I bought call LEAPS but if I see a $5 in front of the price I'm buying shares.
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texags79
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In reply to oldarmy1 • 3:35p, 6/8/23
Should we buy?
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bmoochie
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In reply to oldarmy1 • 3:37p, 6/8/23
AG
Depends if the baby wakes me up lol. I'm in some July' calls for an earnings pop but also the leaps you called out. Missed the original mass accumulation but I'll be ready for round 2 if it presents itself!
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3:37p, 6/8/23
AG
Insane move by Tesla.
You don’t trade for money, you trade for freedom.
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oldarmy1
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In reply to texags79 • 3:41p, 6/8/23
AG
I think weak earnings gets a spike down and would use that to buy shares OR risk the open to remain low for lower priced LEAPS. I really want LEAPS but I also have expiring $7 Puts for under $0.12, so any move below $6.89 I can buy shares risk free to see how the stock reacts during open trading. I want that $6 spike down bad.
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texags79
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3:43p, 6/8/23
texags79
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In reply to oldarmy1 • 3:44p, 6/8/23
Good enough for me. If it drops below $6 I'm in
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oldarmy1
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In reply to texags79 • 3:53p, 6/8/23
AG
Chilifest said:
Good enough for me. If it drops below $6 I'm in
TSLA might have an impact. what an afterhours move.
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TheCellarDoor
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In reply to oldarmy1 • 3:57p, 6/8/23
AG
I used one of the tricks I learned from you to short shares to lock in the after hours gain for expiring options I have tomorrow. Locked in $9 on expiring 235's with a couple of runners left in case it wants to close the >$250 gap tomorrow!
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