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Really? Mine said 100k for naked calls
I don't know about a book, but I know u need to have tons of capital in your account for that. 100k
whats up Jimm?
what do you think about this pincher forming with DDD? IMO I think that it has a little more room to fall, the PPO, ADX, and TRIX hasn't started to turn the other ways yet...would like your input ;).
Back to the states next wednesday, the argentina vacation is done! so ill be free during trading hours again :).
cheers mate
That one looks juicy..., 30 Or 31 April calls. When this finds a bottom, it could be like PBR on the last jump
That was epically funny when he called your watch list, a list of 100 alerts Hahahahahah. I couldn't stop laughing. The irony is that I have made good money off the stocks from your RSI lists! Lmao
hehe it is what it is with the wins and losses.
did you pay for Sangs 1 month training course??
and guys for the record....these are paper trades. and even with the 700$ profit and another $200 short scalp, I still ended the day down $250 due to not exiting when the scalps went against me.
all in all, i made 9 trades today, some of them went the right way and I didnt take the 250$ and I held on too long and ended up exiting at a loss, and others went bad directly because my setups were not there. But I havent traded in like 3 weeks live, so I had too much gambling impulse lol!
so I will try to work that out, looks like I will be trading more frequently for the next 2 months. so I will be here pitching in to the boards more ;) hopefully if I can get this scalping strategy worked out in practice, I can begin trading live in july or august.
Problem is this daytrade rule, either A, I have to limit my contract sizes, so that with my 5-7k starting capital I can daytrade on cash 3 or 4 times a day. Or B, I need to find a international broker that will let me daytrade as much as I want with my 7k. still looking into that at the moment. and option C, is trade with a US prop firm, but for that I need to take this Series 56 exam.
Not sure what I will come up with.
cheers
now the 2 trades I wished I would have made...but I missed them due to looking at a 5 minute chart instead of the 1 minute.
1
you can clearly see with the 1 minute chart and fib lines drawn, that in minutes 2:16,17,18,19 the 1 minute candles never close above the 38.2 retracement! just under it!! at 2.18 the apple 435wPUT was trading at 4.90,at 2:25 pm the option was at around 5.60! ok missed a scalp there...could have been a $700 profit with 10 contracts.
[img]dc667.4shared.com/img/sQvLnebq/s7/aaplmissed.png?async
[/img]
2 now the big one.
so after that rip down from the trade above, it retraces a little bit,
but as u can see apple is showing real weakness after getting crushed back down from the high. and the chance presents itself again on the 1m chart. after redrawing the fibs, u can see that it retraces back to the 23.6 and messes around there a little bit.
2:28, 29,30...it never makes a close above that 23.6 line., at this time the 435wput is trading at 5.65 if u got in late at 2:31,
then it tries again to retrace higher, but never closes above the line., at 3:09 you could have gotton out of this at 8.05, without hardly any retracements taking your profits away. Had I caught this one I would have probably been out at around 2:56pm at 7.45-7.55 area. still good for a $2500 on 10 contracts!
moral of the story is if your looking for this kind of setup, dont leave your 1m chart! lesson learned!! lol
I got a day free of work so I got some practice in today.
all aapl, first trade that I got right was a bounce off the pivot. but I totally messed up the entry and was about to take a loss. until it went down off the pivot and shot up to 433.
so at 1:23pm it looked like it was gonna continue upwards, so I got in 10 contracts of 430wc @ 5.50. I was taking heat right away, but I held on because I was waiting for a bounce off the pivot. my 10 contracts that I bought at 5.50 were down to 5.23 before the first rip up, which I sold at 6.20, 700 profit in 15 minutes.
Have to trust the pivots! +3$ bounce from the pivot point at 130pm
People do talk smack. Always a negative tone. You found out what works for you, the bottom line proves it works! Keep up the good work!
Hehe, we'll if u sell and take the 10k, u have to be getting close to the 25k right??
Aapl took a nice 10pt jump in 5 minutes yesterday! Thing I noticed, aapl was sitting right on the 1st pivot point support, and it spiked up past the pivot point, closed above it on the 1min, and then it was game on!
Can't wait I'm back Trading again during day! Hopefully catch some of these moves I've been studying at night!!
Thanks man!!
good evening guys,
I dont see a place for this question on here. so please forgive me for going a bit off topic. Great board here by the way.
Does anyone here use a Prop firm for trading? I'm trying to find out information about some of the international ones so I do not have to take the exams
any information on
Nonko trading
Nevis Trading
TM Global Capital
International Brokers IBworldwide.com
thanks in advance!!
evening ladies,
GOOG is definitely giving scalping setups at the open the last couple days. Obviously these setups are not guaranteed and are not 100%. But, I believe that if a set up presents its self on a FIB line, its worth a punt, if it goes the wrong way on you, hit the sell button and get out.
So here we go,
Google gaps a few dollars to open at 834.83 and goes up to 834.92 before closing at 834.37. Followed by 2 more red candles down to 831.40. One option after you have been doing this a while, is probably try and fade the gap for a quick 1-2pt scalp if you feel confident with the downward move.
there is finally a bottom on the 8th candle at 830.50, so I draw the fibonacci lines and wait to see if there is a set up. With upward movement to the 13th candle which I circled...it moves above the 38.2 fib line, but can't close above it. From studying alot of these charts at the end of the day, I have begun to feel like that is a very good risk reward set up. I would try to get a position in the 835 puts and wait.
Obviously candles 15,16,17 go back and form a bottom and try to bounce back up but not really giving great strength to push past the targeted buying price. So I would like to think that I would still remain in the trade, never know though when real money is on the line!!
after that the next 10 minutes are downward action. from the 1st (entry) circle to the second(exit)circle. there is a move of 6-7$.
please dont give me credit for a nice trade or anything yet, this is all after the fact chart study. When I get back to trading more I will be looking for these setups and hopefully, since I study AAPL,GOOG,NFLX,AMZN,PCLN every evening, I will have confidence to pull the trigger and start making some coin ;) enjoy
If ur thinking about cancun, or Cozumel, you will be fine. Stay away from Veracruz, Tampico, Monterrey and GUadalajara. I actually lived 6 months in Mexico City last year, I had no problems at all. But always felt like I had to look over my shoulder. But I loved it, probably will go back soon.
Any all inclusive resort will be safe from the normal day to day worries like getting robbed on the metro or worse ;).
The things we don't have to worry about in the states eh? ;), have a good vacation
Yeah, I'm looking for a way to beat the PDT rule with only 7k capital ;), thanks though.
Evening guys, just a question for the board....anyone use prop firms to trade remote with?
I came across international brokers (not interactive brokers), www.ibworldwide.com. Anyone know anything about them? Their commissions are too good to be true..., .39 a contract??!
I'm looking to get out of the PDT rules and still use margin and short some stock
Thanks!! And good luck!!
here is a chart from the plays that I look for,
when you patiently wait for this set up, money is consistent and if the trade goes against you, just bail ASAP.
enter 835 or 840 puts at the first circle, look to exit in the lower circle
https://www.facebook.com/photo.php?fbid=10100797181838128&set=a.10100797181733338.1073741825.12708416&type=3&theater
I feel much more comfterble on the scalping strategy with the fib lines drawn. For example, this morning goog gapped up and then dropped like a anchor for the 2nd, 3rd, and 4th minute, draw the fib retracements from the 1st minute to the bottom of the 4th minute. At the 7th minute it retraces above the 38.2 fib line but doesn't close above it, 8th-13t minute it drops from 837.00 to 830.57.... Waiting for set ups like this which happen at least once every day on the big stocks, aapl, goog, nflx, pcln, is where I feel better about my chances because I'm a take profit kind of guy. Almost always I wouldn't let a 1000% play run, I tend to exit at the first rip.
maybe I will learn what to look for to improve my chances at the home runs. But for now I will focus on this strategy
Off topic question, anyone here trade through a prop firm??
I'm gonna chime in here, because I see a difference in opinion going on, and it makes for great conversation, maybe we can learn something ;).
I've been watching options since November, we've all seen jimmybob turn 500 into 5k more then once in the past 4 months.
However, myself coming from multiple blown out poker accounts, I was impressed, and still am, by what jimmy does. But his strategy hasn't work for me. I signed up for a practice account at mb trading which lets u trade paper in real time, after a month on the longball strategy, I had made 79 trades and I was up 250$. Better then Losing my shirt yes, but not enough success for a consistent paycheck. That month I was in 3 plays that went more then 700% gains. However, the most I got out of them was 200% wins. Maybe it's the inexperience, unlucky, whatever. I feel like it wasn't gonna work for me.
I got a tip from one of the form members who is a scalper, he put up a few charts to study for Fibonacci retracement setups to scalp. Since the middle of December I have been working during trading hours so I have not been able to practice much. I have been able to trade 3 full mornings, due to my time zone here in argentina. Just practicing on aapl, 1 day I made 1840$, 1 day I lost 220$, and the 3rd day I made 800.
All of these trades were in the money options, calls and puts, and each trade was 10 contracts. All of the trades varied between 4,000-and7,000 total.
For me..., I will be starting up again trading during the summer, and I intend to start with a 5000-7000 bank, and work on my scalping. It seems like the best system for me personally,
Maybe with more experience I can learn to catch some 1000%, but for now... I would love to be able to make 1000 a week consistent, or even 1000 a month!(I'm a student).
So I'm go on the scalping side of the argument!
Especially looking for .25-.50 moves for scalps. 15m, 5m and 1m are crucial, otherwise u can find yourself in some heat as soon as u confirm the buy, which is never a fun situation when your trying to cut your losses early...
Even roger federer has some bad days ;)
Yeah those options are not pretty today unless u were selling them
Lol every Priceline option within 40 bucks of 680 lost money today!! Haaaaaaa
True that. Normally I wouldn't reply on that subject, but the bickering was rather annoying...,
On topic, did you pick up any aapl calls on this drop down ?
Hey mate, do you ever sell options on CRM? The premiums are sky high on this one, for example, Fridays 180 calls are .98, it seems like it's a rock solid trade considering it has huge resistance at 176 and plus its heading back down now. Also 140 puts are .94.
Is this a good candidate for selling weeklies on?
Thanks for your input ;)
Lotsa people who bought options are gonna get toasted on those premiums! Man the were expensive
It does my friend, it does
Boom!
No idea, I traded Priceline in the past and I don't remember this sort of price. Must be related to earnings.
Master trader has been posting here since I started folowwing the board and always seems like a solid guy posting his trade results. That being said, people shouldn't really be bragging about a 500k profit unless they put up a screenshot. It's normal for most people to be skeptical and call BS on someone who comes on here one day claiming a 500k+ profit. Ok, maybe it's true, and great trade to you, but if you mention that, u best be prepared to show proof.
Many people post screenshots of their account. If I hit a 100k trade, I would be posting a pic, or I wouldn't mention it. I feel like my 300-600$ scalps are not even worth mentioned most of the time :p
U know they are gonna benefit someone other then the "retail investor"! Lol the hedgefund/institutional guys look at mom and pops as pawns ;). I would like to think we are somewhere in the middle ;). It appears this correction might be starting to take place, keep an eye on the Vxx, and also the FAZ/FAS. FAS was down 11pts today, and also the SDS, it was up, although not quite as volittile as the vix/Vxx. Unfortunetly work will keep me basically out of the market for the next couple months. And I don't feel good about not being able to see my positions at all during market hours, so I'm gonna sit this crash out, and hope to find some good deals like in November :)
Jeeeeeesus those options are insanely expensive. I mean wtf??? More expensive then most stocks!! Those would be good to sell if one has enough capital. Options expiring Friday 95 dollars out of the money (765c) still for a dollar! Looool. Want an option 10 OTM, that will run u 2k! Lol why are they so expensive??