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NVDA $380 6/2 P @ $7.00
Too quick to update but I'm scalping NVDA puts: We've been discussing the ripe NVDA short for a couple days and I'm playing it now.
Gold 65K Tick:
First note the contract rollover, I never noted that before just assumed everyone knows but it's important to note that all futures charts I post are continuous contracts, unless otherwise stated.
Giving my GLD puts room. I believe in the short-term gold pullback and dollar breakout technical thesis and I'm playing it with GLD puts.
Under the 200 ema. $1974.30 is a key upside pivot & there is so much blank screen space to the closest pro long trailing stop level @ $1925.
I know how I trade isn't for everyone. I'm not trying to sell it. We all need to find our comfort level & stay there. Go with what works triple period.
Several things about the way I trade:
1) I'm super aggressive. I'm comfortable with it.
2) I trade ultra-high risk/reward uni-directional options that often need to be given room in order to get the payoff
What does that mean?
I DON'T USE STOPS ON MY TRADES
That's as aggressive as you can get, again though I'm comfortable with it.
So how I do try to control risk?
Position size. I average down only in trades with super high conviction. Like BOIL right now for the long-term (at least several months). Speaking of BOIL, I'm watching it and waiting to patiently to add my next tranche. I've been nibbling waiting for a big block of blue bars on multiple timeframes in NG.
Yes I think the bearish RAMBO on the 500 Tick in the dollar is a heads up for a pullback, not reversal. Even on a small TF like the 500 Tick, the uptrend is clear.
Also the absence of blue bars in key areas is just as notable as their presence. They were scaling in long earlier this month and have since been applying strategic patience.
Its no consolation to me your timing could have been better. I always want you to do as well as possible irrespective of how I do.
Dollar 500 Tick:
Just saw this. Dam! Not good for my GLD puts. Sloppy on my part. Past likely won't be prologue.
Bearish RAMBO yesterday morning. Had I seen this, I would not have even entered. Regardless what happens, an important lesson for me to look @ more TFs in the Dollar before trading Gold.
Even if it's just a pullback, still sloppy since I'm in high risk options that expire in a week. This is a key reason I created this board though. If even just one person learns from my mistakes, it's worth it to me. If not, it's still worth it to me because I'm learning.
Transparency = Accountability = Betterment
Back in GLD $180 6/2 P @ $1.22
Thank You! See you later!
Sold GLD $180 6/2 P $1.18 from $1.10, I think I'll get a better entry before close.
I'm getting ahead of myself. Let's see what happens the rest of the session. Gold needs to stay below the 100 ema on the daily I just posted, otherwise I won't be comfy holding puts o/n.
GLD 9K Tick:
The twin bullish RAMBOs 5/18 was my heads up to buy the aforementioned GLD calls last week.
This week the break of the break of the 100 ema on the daily, was my heads up to buy puts.
Both confirmed with price action on lower TFs before entry, Thursday last week I saw pro dip buying, this week I see pro shorting.
First, GLD 9K Tick:
And the daily in gold itself:
Gold is notorious for big moves on Fridays. Last week my opex calls (expired 5/19) GLD calls tripled. This week if Gold stays below the critical low $1950s area, where the 100 ema (yellow line) on the daily is, puts will likely pay the bills.
Again context is always King. I will keep repeating this too because it is vital.
On the monthly gold is under vwap (purple line) but above all key emas which are now short targets.
Yes, TF should be the second thing looked @ in all charts. Second only to the name. Thanks for your emphasis on the fact the chart you posted is the 4 hour.
VKTX $25 7/21 C @ $1.40
WW $7.50 6/16 C @ .55
In GLD $180 6/2 P @ $1.10
Your alarm for the $1953 break just went off!
Agreed. NVDA will inevitably be ripe for a killer short. Valuations always matter long-term but we always live in the present short-term. That's part of the market riddle all long-term (several months +) investors try to solve every time they trade stocks. It's not a matter if NVDA's insane valuation will catch up with it, but when.
Gold short still in play after NVDA's big beat.
NVDA, let's see what you do to the markets.........
It sure does add up quick. That was a nice score. I was about to say nice little score but there's nothing little about 12% profit in less than a week.
Well done! I was planning on holding my puts o/n but will never say no to a quick buck!
I like how you sold half. That's how pros trade. I'm comfortable scaling in but need to increase my comfort level doing what you just did.