this is the way. let runners run so your wins out pace any small losses.CC09LawAg said:
It is amazing to me how when I take big swings I'm almost always wrong, but when I make a small trade I end up with a 100% profit.
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Last: 22 hrs ago by Heineken-Ashi
It took one absolute ass kicking of a day on Monday where I felt like a bomb went off inside my head but I think the lesson has finally stuck. I'm being much tighter with my stops and trying to abandon the home run mindset.
Following up hereHeineken-Ashi said:
TALO is very oversold on daily but weekly shows a little more weakness can be possible. I'll give this one down to $9.75-$10 range for support. But I would ideally like to see it hold the previous low on daily candles. If it does come down to the $9.75-$10 range, my favorite clean outlook would have it hitting in August unfortunately. But from there, target would be $35-$45 or a 4-5x. So put it on the watchlist.
Just bought with stop $9.75. Below that and high $7's can happen before its ready to rock. But I'm seeing lots of signs of this one being very close to a bottom and I don't want to miss it. First target is $17 followed by the $22-$26 range. If this gets up above $22, I'll for sure sell 50-75% and look to buy back on the dip. As the 1-2 year target is $35-$50 range.
Attached is their June investor presentation.
PowerPoint Presentation (q4cdn.com)
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
It's a lesson most everyone has to learn. Many have to learn it many times.CC09LawAg said:
It took one absolute ass kicking of a day on Monday where I felt like a bomb went off inside my head but I think the lesson has finally stuck. I'm being much tighter with my stops and trying to abandon the home run mindset.
Trading is climbing a ladder. Each day you want to get up another rung or two. If you try to skip rungs and haul ass up the ladder, you're more likely to fall. If you fall, you may grab back on before the bottom, but so much of your work has gone to waste.
Just get up the ladder a rung at a time. I imagine most of us aren't 90 years old. Compound those rungs over time and you'll be up Everest.
Learning how to invest takes time, years of observation, and years of application. Lessons are learned and strategies are developed. There is no quick and easy path. You have to put in the hours and you have to be dedicated to growing your knowledge. You have to take risks and you have to lose to know how to win regularly.CC09LawAg said:
It took one absolute ass kicking of a day on Monday where I felt like a bomb went off inside my head but I think the lesson has finally stuck. I'm being much tighter with my stops and trying to abandon the home run mindset.
Now pivot to trading. It's almost a whole new process. You have to do the same thing as above. But it's a whole different animal.
Keep learning and keep adapting.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Appreciate the insights. It's all things I know to be true but it's incredible to me the psychological games that you play with yourself doing this stuff. It's nonsensical how much money you are willing to lose in the hopes that you can make XX.
It took a couple days of moping and me feeling like everything I touched turned to ****, but I'm going to try to nickel and dime my way back. Current goal isn't based on any profit, my main focus on my spreadsheet is going to be a "green streak" and focusing on just making profit every day.
It took a couple days of moping and me feeling like everything I touched turned to ****, but I'm going to try to nickel and dime my way back. Current goal isn't based on any profit, my main focus on my spreadsheet is going to be a "green streak" and focusing on just making profit every day.
The desire to "not be wrong" is so strong that it will cloud good judgement to the point of destruction.CC09LawAg said:
Appreciate the insights. It's all things I know to be true but it's incredible to me the psychological games that you play with yourself doing this stuff. It's nonsensical how much money you are willing to lose in the hopes that you can make XX.
It took a couple days of moping and me feeling like everything I touched turned to ****, but I'm going to try to nickel and dime my way back. Current goal isn't based on any profit, my main focus on my spreadsheet is going to be a "green streak" and focusing on just making profit every day.
BREAKING NEWS: According to the most recent $GME 13F filings, all of the top call-option sellers COMBINED to not have enough shares to satisfy @TheRoaringKitty's 12 million shares currently in the money. pic.twitter.com/OuUyfeShG3
— Kevin Malone (@Malone_Wealth) June 5, 2024
We are in the end game now.Brewmaster said:BREAKING NEWS: According to the most recent $GME 13F filings, all of the top call-option sellers COMBINED to not have enough shares to satisfy @TheRoaringKitty's 12 million shares currently in the money. pic.twitter.com/OuUyfeShG3
— Kevin Malone (@Malone_Wealth) June 5, 2024
McInnis 03 said:We are in the end game now.Brewmaster said:BREAKING NEWS: According to the most recent $GME 13F filings, all of the top call-option sellers COMBINED to not have enough shares to satisfy @TheRoaringKitty's 12 million shares currently in the money. pic.twitter.com/OuUyfeShG3
— Kevin Malone (@Malone_Wealth) June 5, 2024
Can someone clarify what this means exactly? Interesting story for sure.
Per the community notes
Quote:
These 13F filings reflect positions in GME as of March 31st. As tracked by Unusual Whales, Roaring Kitty made these option purchases last week. The option sellers' positions that are presented here do not reflect any shares purchased alongside the option sells.
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CC09LawAg said:
Appreciate the insights. It's all things I know to be true but it's incredible to me the psychological games that you play with yourself doing this stuff. It's nonsensical how much money you are willing to lose in the hopes that you can make XX.
It took a couple days of moping and me feeling like everything I touched turned to ****, but I'm going to try to nickel and dime my way back. Current goal isn't based on any profit, my main focus on my spreadsheet is going to be a "green streak" and focusing on just making profit every day.
Have you read Trading In The Zone yet? If not you should.
Good analogy.
Guys, if you are ever feeling beat down or hopeless, remember the golden rule..
TRADE WITH THE TREND.
If you are going counter-trend, you need to have clearly defined stops and solid reasoning for thinking something will reverse course.
And if you are with the trend, you have to know the points where the trend will slow or potentially show signs of exhaustion. Go back a couple months and read my post about supply and demand zones (support and resistance).
The majority of times people feel helpless is when they caught in patterns of trying to catch bottoms or buy dips, yet they don't have clearly defined processes for determining where support actually is where they are in the overall trend.
In the majority of the time, if a chart is unclear, DONT TRADE IT.
TRADE WITH THE TREND.
If you are going counter-trend, you need to have clearly defined stops and solid reasoning for thinking something will reverse course.
And if you are with the trend, you have to know the points where the trend will slow or potentially show signs of exhaustion. Go back a couple months and read my post about supply and demand zones (support and resistance).
The majority of times people feel helpless is when they caught in patterns of trying to catch bottoms or buy dips, yet they don't have clearly defined processes for determining where support actually is where they are in the overall trend.
In the majority of the time, if a chart is unclear, DONT TRADE IT.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
No but I will order it now.
Thanks.
Thanks.
Someone just came after the $MCD 262.5c for next week with some gusto
Beep boop. Here's what I found.
— Markets Bot (@markets_bot) June 5, 2024
MCD 262.5 C 06/14/2024:
OI: 137
Vol/OI: 53.08
Bid Vol: 1,072
Mid Vol: 49
Ask Vol: 6,125
No Side Vol: 0
Single-Leg: 100.0%
Multi-Leg: 0.0%
1) /contract_volume $MCD 262.5 C 06/14/2024 (https://t.co/MowaW06KRX)
Featured tickers: $MCD pic.twitter.com/klFYgy5KoQ
Spaceship said:McInnis 03 said:We are in the end game now.Brewmaster said:BREAKING NEWS: According to the most recent $GME 13F filings, all of the top call-option sellers COMBINED to not have enough shares to satisfy @TheRoaringKitty's 12 million shares currently in the money. pic.twitter.com/OuUyfeShG3
— Kevin Malone (@Malone_Wealth) June 5, 2024
Can someone clarify what this means exactly? Interesting story for sure.
If all accurate, and price holds here above 20 AND Keith doesn't close out his contracts.......market makers need to come up with more shares by 6/21 to fulfill their contracts.
would love to get ya'lls comments on the following limit order I have in for BROS right now:
limit order at 37.21, which is the 38.2% retrace from today's high and last Friday's low.
looking for 60 eventually with a stop set just below last week's low at 33.89 for now
specifically, my question is am I looking at too recent of a timeframe for the stop and what do ya'll think of the play on BROS given their chart
limit order at 37.21, which is the 38.2% retrace from today's high and last Friday's low.
looking for 60 eventually with a stop set just below last week's low at 33.89 for now
specifically, my question is am I looking at too recent of a timeframe for the stop and what do ya'll think of the play on BROS given their chart
Well done. Looking for $41.50 to $48, though there's a chance $40 is strong resistance soon.bhanacik said:
would love to get ya'lls comments on the following limit order I have in for BROS right now:
limit order at 37.21, which is the 38.2% retrace from today's high and last Friday's low.
looking for 60 eventually with a stop set just below last week's low at 33.89 for now
specifically, my question is am I looking at too recent of a timeframe for the stop and what do ya'll think of the play on BROS given their chart
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Went ahead and took my profits on MRO today.
Also sold XOM that was previously PXD.
Decided to take the base hit.
Also sold XOM that was previously PXD.
Decided to take the base hit.
One thing I would add to this and this is something I have had to change myself with dealing with losses. You don't necessarily need to tighten your stop but maybe scale back. I don't know how many contracts you like to trade but for example I used to do 4-5 contracts that were maybe $1k worth. Set stops that would hit my risk tolerance and it would sometimes reverse and end up being right. If i had did 1-2 contracts, i can keep the same risk profile but it by default allows me to widen a stop to let the trade work. Just some food for thought.CC09LawAg said:
It took one absolute ass kicking of a day on Monday where I felt like a bomb went off inside my head but I think the lesson has finally stuck. I'm being much tighter with my stops and trying to abandon the home run mindset.
Agreed. I learned that I am good at 2, 3 and 5 contracts.
Anything bigger and I react to the total amount and not the stock chart.
Anything bigger and I react to the total amount and not the stock chart.
Brewmaster said:
Yep, I saw this this morning, made me chuckle...Bank of Canada 🇨🇦 just cut rates.
— trader (@TicTocTick) June 5, 2024
They saying inflation is dead now measuring inflation with fake methods!
Yet no one can afford anything in Canada - gas, homes, groceries. Yes healthcare is free if you wait 6 months to see doctor.
Everything is stupid 🤦♀️
Yet it's not "free," they get taxed up the Saskatoon for it.
So SPX makes an ever so slight new high, but there's only 1 sector that actually made a new high and thats communications.
Most are well off their highs.
Hmmm... almost like there's one stock pulling up the whole market.
Most are well off their highs.
Hmmm... almost like there's one stock pulling up the whole market.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
You could try trading Micro E-Mini futures contracts. Basically playing option contracts with S&P but with no theta. You can actually set stops based on levels instead of Theta decay. Not easier but you don't lose to time and other Greeks.
Bought the dip this morning and now up 5%. Enjoyed the MARA gamble a couple months back and ready for a new one. Thanks H!
Something I'm watching. Early in 2020, I got double weekly RSI sell signals. The market then made two higher highs before COVID catalyzed a massive selloff.
February 2024 shows similar double weekly sell signals. We now have a 2nd higher high following.
Definitely not saying history will repeat, but history does tend to rhyme. And I'm still very very cautious and risk adverse.
February 2024 shows similar double weekly sell signals. We now have a 2nd higher high following.
Definitely not saying history will repeat, but history does tend to rhyme. And I'm still very very cautious and risk adverse.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Beep boop. Here's what I found.
— Markets Bot (@markets_bot) June 5, 2024
MCD 262.5 C 06/14/2024:
OI: 137
Vol/OI: 85.58
Bid Vol: 2,833
Mid Vol: 503
Ask Vol: 8,389
No Side Vol: 0
Single-Leg: 100.0%
Multi-Leg: 0.0%
1) /contract_volume $MCD 262.5 C 06/14/2024 (https://t.co/MowaW06KRX)
Featured tickers: $MCD pic.twitter.com/5qxwoc6VzN
Because they didn't unroll this, I'm probably going to follow on this........
And a reminder, when NVDA goes 10:1 Monday, if you're holding a 1190p option with a date PAST the split, you'll then have 10-119p's at a 1/10 the price.
If Lotto Friday sees NVDA run up, I may investigate such a play.
If Lotto Friday sees NVDA run up, I may investigate such a play.
It will never cease to amaze me how within a period of 8 hours, something that was worth $1.40, then $.50, then $2, can end the day at close to $.06.McInnis 03 said:You dog, you!McInnis 03 said:I'm actually watching CRWD for a fade play. Look at what ZS did last week on their earnings. Obviously every stock is it's own as are the results, but same market, same hype, if it runs below the 34-50 10min EMA early I'll look for gap fill short scalp. I need it below 333.50 first.Charismatic Megafauna said:Charismatic Megafauna said:
Crwd delivers again. Prob gonna get crushed tomorrow
Up $35 premarket, macro cooperating...could fly!
Truth be told, execution was awful. Loaded some 300p at $1.40 near open, WAY too high. They dropped to $.40 or $.50 so added more at $.50. Exited most when it came back near original entry and held a small runner. Locked into a profit trade though.
I tried to buy some June puts on NVDA today and failed, so far. That thing is a time bomb, imho.
What did you end up doing with ARM? It's had itself quite the day.
Things are fairly green today.
This where patience would have been PAYTIENCE.South Platte said:
What did you end up doing with ARM? It's had itself quite the day.
So I had a net free runner from a quick 130c trade, but that runner started to drop a LOT and I ended up closing the trade (I don't usually swing multiple days on these quickies).
Had I held that to today that 130C is trading at $5.58 now. I entered at $1.50.
Patience is my number 1 enemy right now.
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