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I see what you did there...
VXX just broke over 10 min cloud.
Couple
Back in PCLN 1370s
Sold 1/2 GOOGL 730 Calls @4.30 from 2.50
Closed PCLN, will revisit
Keep paper trading....you're up 10% right now :)
NFLX trying to go R/G
You should have bought @.60 and set a sell @.90
IWM 118.50 calls would be the play at this exact moment FYI
Doubled PCLN 1370 calls. 9.60 average
BTO YELP 32 Calls @.14
BTO GOOGL 730 Calls @2.50
FCX breaking out of 3 month consolidation trend line resistance. Sitting on Aug 13 calls heavy
Sold AMZN 760 calls @ 5.10 from 1.50
Legging into PCLN 1370 calls here
X running
VXX 11.99
I'm a buyer of 111 calls on a test of 110.25
He's like a cranky neighbor loft apartment over a really great party....
This is a business where a little unhealthy OCD is healthy for your bank account.
I get asked how I succeed at trading all the time, my shortest answer is "obsession." This is a great write-up:
The Most Important Thing For A Trader - Joe Fahmy The Next Big Move Joe Fahmy The Next Big Move
http://joefahmy.com/2016/07/10/the-most-important-thing-for-a-trader/
BSTC is not optionable at this point I should add.
Added OLED and BSTC to my watchlist. Very exciting charts and prospects. BSTC is IBD50 #1
Monthly OPEX this week
Yo yo yo yo yo yo
Just noticed one of you favorite setups on WYNN last Friday....NR7
$X
Iron Ore Seen Back Below $50 as World’s Top Port Sets Record - Bloomberg
http://www.bloomberg.com/news/articles/2016-07-11/record-supplies-bigger-stockpiles-sour-outlook-for-iron-ore
My favorite time of year!
I wouldn't go out too far. $0.50-$1 OTM is a great rule of thumb on IWM/QQQ. That said, I probably see my positions go ITM 50% of the time. The beta is nice on these and you can get your profit target in under an hour usually if you are patient and take the correct entry.
I day trade the 10 min chart with Ichimoku and pivots
And things got much easier once weekly contracts hit the market
I should mention I had a great teacher who would make me sell immediately if the trade went against me, same guy who used to take my birthday/Christmas money and invest it in AAPL and CMST....good old dad
Short answer is yes to everything. It's a broad structure plan subject to your level of skill at analysis and risk tolerance. I started trading this exact setup almost 20 years ago, starting with $5000. I doubled it in 4 days and dropped the original 5000 into swings while continuing to day trade the other. Once I hit $50k (2 months later) I started adjusting to fit my needs. It's a great plan, but it does nothing without technicals and patience for entry/exit. To this day, I still day trade daily and I average 1000-5000 per day trade, sometimes with AAPL, IWM, QQQ, SPY I'll go as high as $25-$30k per trade (much less often though)....just depends on the setup, contract, time of week/month. No matter how many trades/swings/etc. I have on the ledger, I always aim to get $1000-$2000 per day on day trades...,this is my "income."
I used to have 3 trading accounts but have since consolidated to 2. Ultimately, I take X amount over my personal limit I set in my trading account and transfer it to my core portfolio to invest (once a quarter), X amount comes out for income (sometimes monthly).
Point is, it's all about your needs.
Forget ludicrous speed....they've gone plaid
I like it for selling premium
Also....I wouldn't get anywhere near a mouse until after 3:00pm. You can make a fortune trading the last hour
But I will say that it is conveniently similar....no doubt