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CC09LawAg
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In reply to Charismatic Megafauna • 11:50a, 8/7/24
Charismatic Megafauna said:
How much time were you buying on your options? Were you matching your charting timeframe to your expiration dates? When i started buying more time and closer to the money (and itm) i stopped getting wrecked as frequently with options
Depends - I tried 1DTE and longer term plays too. With 1DTE it all just moved too fast relative to my level of experience - I had a lot of big Ws, but way more big Ls. Then the "what if" of small Ws that would've been big Ws clouded my judgment for stop losses...

I did some longer term plays on things like MARA but I would panic and sell for a loss, then look up a few days later and it would've doubled. I tend to way overthink it if I am holding the position overnight, and am afraid it'll expire worthless, so I try to do the "responsible" thing and cut my losses, only to cut one early that would've doubled.

I do think if I dabble in it again I will be doing what you recommend and giving myself more time and closer to the money.
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Charismatic Megafauna
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In reply to CC09LawAg • 12:00p, 8/7/24
AG
Did you read Trading In The Zone yet?
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CC09LawAg
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In reply to Charismatic Megafauna • 12:15p, 8/7/24
I ordered that and The Disciplined Trader and actually started with The Discipline Trader and was kind of amazed how accurately it nailed a lot of what was going on in my head.

Life has been very hectic the past few weeks so my reading time has been cut pretty short but I need to pick them back up.
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Charismatic Megafauna
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In reply to CC09LawAg • 12:37p, 8/7/24
AG
I'll have to get that one
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Heineken-Ashi
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12:44p, 8/7/24
Volatility teasing here. Be careful.

"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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M4 Benelli
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1:06p, 8/7/24
Everytime I sleep through the opening bell I get boned lol. Sucks living on the West Coast. (Well for multiple reasons aside from trading.)

#3rdWorldSHole
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CheladaAg
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In reply to Heineken-Ashi • 1:12p, 8/7/24
AG
Heineken-Ashi said:
SMCI - lots of air below. If $495 can't hold, there's almost no support until $375.
Just bounced off $495.
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Heineken-Ashi
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1:19p, 8/7/24
Ok, VXX is looking impulsive. Not good.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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EnronAg
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1:19p, 8/7/24
AG
oh snap...we gettin' ourselves an outside bar day...who would've ever thunk it after being up nearly 2% today...
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CC09LawAg
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1:19p, 8/7/24
Outside of being down so much money, the past couple of weeks have been fun to watch.
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atmag95
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1:26p, 8/7/24
AG
We may not see green the rest of the week.

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Spoony Love
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In reply to atmag95 • 1:38p, 8/7/24
AG
SPY 505P on target then
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Heineken-Ashi
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1:59p, 8/7/24
Bought IREN - stop $4. Target $17.75.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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Brewmaster
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In reply to Heineken-Ashi • 2:13p, 8/7/24
AG
Heineken-Ashi said:
GreasenUSA said:
Charismatic Megafauna said:
Options are way less risky than short selling. If you want to short with defined risk buy puts.
This can be true if you are willing to let your options go to 0.

I personally find it much easier to define and control my risk by shorting with shares than I do buying puts.

ETA - Sorry I keep forgetting that this isn't a day trading thread. I'm always back to cash at the end of the day, regardless, so that probably makes it easier for me with shares.
This thread is for all trading. But for long term people, I'd highly recommend the swing and long term trading thread. Would be nice if both could get fairly active and stay at the top of the board. This thread can move fast and long term plays and guidance on them can get buried.
Wait, there are other threads on this forum? lol, kidding, I'll check it out
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LMCane
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In reply to WestTexasAg • 2:26p, 8/7/24
WestTexasAg said:
Brewmaster said:
There's nothing wrong with swinging shares and trying to catch big moves. It can yield nice results, wait til SMCI reverses hard or MARA (both volatile, big movers). My biggest wins this year are GME, MARA and SMCI on short term swings. It also fits my personality, I'm a bit too impatient at times.
So this brings up a question. How many of you are trading frequently (like this), versus holding at least a year to reach capital gains status? I'm guessing a mix of both for many, but how much does this factor in for you guys?
I am a buy and hold guy for long term wealth creation- not going to mess with the craziness for shorting
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Brewmaster
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2:52p, 8/7/24
AG
NVDA put buying into the close (with volume)
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Heineken-Ashi
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2:56p, 8/7/24
This market needs to perk up soon or 4400-4500 might be losing its chance
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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Spoony Love
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3:01p, 8/7/24
AG
SPY outside bar avoided by a narrow margin. I don't think it matters at this point though,
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nortex97
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In reply to Heineken-Ashi • 3:02p, 8/7/24
AG
That's what I think too.
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hedge
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3:09p, 8/7/24
Now the time to load up on SCMI?
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CC09LawAg
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In reply to hedge • 3:13p, 8/7/24
I mean, I'd probably wait on it to start going the other direction for a few days. But I'm no expert.
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EliteZags
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3:24p, 8/7/24
AG
HOOD posts incred numbers, bouncing all over the place AH, grabbed some at 16.80
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bmoochie
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In reply to Heineken-Ashi • 3:32p, 8/7/24
AG
Heineken-Ashi said:
WestTexasAg said:
Twisted Helix said:
POWL knocked earnings and guidance out of the park and it can't seem to hold the gains. This is a tuff follow.
Hard to know what to do on that one. Jump in now? Wait? Skip it all together?
Make sure you have the 34 EMA showing on weekly candles. If POWL drops below that again, $80-$115 is where I see it having potential to go for next support.


Why 34 and specifically weekly? Just curious
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deddog
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In reply to Brewmaster • 3:34p, 8/7/24
AG
Brewmaster said:
Heineken-Ashi said:
GreasenUSA said:
Charismatic Megafauna said:
Options are way less risky than short selling. If you want to short with defined risk buy puts.
This can be true if you are willing to let your options go to 0.

I personally find it much easier to define and control my risk by shorting with shares than I do buying puts.

ETA - Sorry I keep forgetting that this isn't a day trading thread. I'm always back to cash at the end of the day, regardless, so that probably makes it easier for me with shares.
This thread is for all trading. But for long term people, I'd highly recommend the swing and long term trading thread. Would be nice if both could get fairly active and stay at the top of the board. This thread can move fast and long term plays and guidance on them can get buried.
Wait, there are other threads on this forum? lol, kidding, I'll check it out
TIL there was a long term trading thread, spent all my time here
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Heineken-Ashi
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In reply to bmoochie • 3:56p, 8/7/24
bmoochie said:
Heineken-Ashi said:
WestTexasAg said:
Twisted Helix said:
POWL knocked earnings and guidance out of the park and it can't seem to hold the gains. This is a tuff follow.
Hard to know what to do on that one. Jump in now? Wait? Skip it all together?
Make sure you have the 34 EMA showing on weekly candles. If POWL drops below that again, $80-$115 is where I see it having potential to go for next support.


Why 34 and specifically weekly? Just curious
Pull up the chart. Self explanatory.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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Ernest Tucker
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In reply to E • 3:57p, 8/7/24
AG
E said:
EnronAg said:
BOOM!!! Out of LUMN after almost 2 years of dead money at a nice little gain...I'm happy with my day already
Thanks to whoever mentioned it a while back!

I bought some 1/25 $7 LEAPS that I was very negative on for a while...


I went net free on these today.
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Diggity
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4:02p, 8/7/24
AG
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bhanacik
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In reply to Ernest Tucker • 4:34p, 8/7/24
AG
Ernest Tucker said:
E said:
EnronAg said:
BOOM!!! Out of LUMN after almost 2 years of dead money at a nice little gain...I'm happy with my day already
Thanks to whoever mentioned it a while back!

I bought some 1/25 $7 LEAPS that I was very negative on for a while...


I went net free on these today.
Thanks for the reminder on these guys! I had bought both the $7 and $5 LEAPS on LUMN a while back in a ROTH. I haven't checked that account in a while and it was great seeing them up so much - set some limit sell orders for the morning to take some off the table. Still holding some calls and I'll hold the shares long-term.

Also nice seeing the gains on the PLTR shares in that account that are net-free
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Chef Elko
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In reply to bhanacik • 4:56p, 8/7/24
AG
I wish I had your super power of not checking retirement accounts
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Heineken-Ashi
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6:48p, 8/7/24
Wow.

So my upside target is known between SPX 4400-4500. I had a lower probability lower target good through tomorrow in the 5190-5250 ES range. I thought it was satisfied when it touched the upper end, but futures sold all the way to the lower and slightly below it. I don't have any lower targets now, only upper, except for weekly. And that's 4900-5000 SPX matching with 4925-5050 ES.

Long story short, either the market bounces overnight or tomorrow above the Monday low, or we stay tracking with 2007 and drop down to 4900. If it can bounce, the rest of the week can be very bullish. Lots of stocks would show serious strength. But that scenario is not guaranteed right now.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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M4 Benelli
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6:51p, 8/7/24
I hope you're right Dad number 2.
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BucketofBalls99
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9:00p, 8/7/24
Ok, newbie here….

If I am wanting to learn more about trading options, where would you point to to start? I have been reading this thread for a good long while now and have always been fascinated. Now I would like to actually act on it. Any and all suggestion are welcome
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SAag1113
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In reply to BucketofBalls99 • 9:05p, 8/7/24
AG
Trade stocks lol
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BucketofBalls99
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In reply to SAag1113 • 9:11p, 8/7/24
I have a portfolio on the smaller side, lol

Apple - 100
Google - 200
Palantir - 500

To name a few
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Heineken-Ashi
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In reply to BucketofBalls99 • 9:54p, 8/7/24
BucketofBalls99 said:
Ok, newbie here….

If I am wanting to learn more about trading options, where would you point to to start? I have been reading this thread for a good long while now and have always been fascinated. Now I would like to actually act on it. Any and all suggestion are welcome
Understand what you're playing with first.

Essential Options Trading Guide (investopedia.com)

Then make sure you understand how they actually work and what makes them move

Stock Markets - Page 6293 | TexAgs

I would recommend paper trading them until comfortable.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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