Every Trade is Based on A Chart, Moving Average Crossing and pivot points, support, and resistance
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If I get a cushion. Maybe a Hold, no cushion I will at least thin down. I need 392ish to hold overnight
Not worried about the 5min, Watching the 1 hour building and the 2 hour Histrogram getting ready to cross centerline, One of my favorite moves
I would wait till tomorrow. I haven't seen this gap but I have seen it run quick at open. I am debating if I will hold overnight because it hasn't gapped in a while
Yeah I went a little to Early and Had to average. A little upside down right now but OK with it.
I now have 50 390 puts at 1.85 average. Pretty comfortable. I see this breaking 386 tomorrow or Thursday.
To many problems with the company.
10 weekly 390 CMG Puts at 2.65
No Volatility = No Good Trades
I stayed as long as I should have. I expected a big SIDEWAYS DAY today and if I would have held longer, I wouldn't have had the nerve to drop it at the end of the day. I have learned if the 15 minute isn't working to my pace, just leave and go do something else.
No trading today as I do see Sideways Premium eating. It happens every week and it seems today is going to be that day.
Good Luck and Stay Focused.
Out 7.80 Don't like the sitting around
Bought 10 More weekly PCLN 1397.50 Puts at 7.25
Scalped a few PCLN 1397.50 this morning. Quick $$CASH$$
10 PCLN 1387.50 from 8.20 to 10.70 Average Out
If this is work, Sign me UP.
Guys Options are about INSTANT GRADIFICATION.
don't be afraid to take quick profits when they present themselves.
Vegas, Don't know what to think of you sometimes, but you do have a way with things.
I SOLD the Shovel in a Garage Sale!!!!
Guess I'm going to have to rely just on PATIENCE.
Thanks
You have a good weekend down there in SUNNYVILLE
Today is a perfect reason why you have to have multiple indicators as to direction. A few days ago I stated that NDX would come back to 4750, It did, and the news on PCLN moved it above that area. I also said that the 2 hour histrogram candle would determine that change, the reason the 15, 30,1 hour, 2 hour and 4 hour MACD all lined up at the same time can show stronger strength.
Being blindside to one side can cost you money.
This morning I jumped in and made a few hundred $$$$$. Not to make money but to remind myself that I needed to always look at what could happen on the other side before I jump in all in Gusto that myside will be the winner. Little lessons like today helps make me a stronger trader.
PLAYING NDX is difficult because your watching the effects of 99 other charts. If I didn't have knowledge that PCLN had earnings, that the job report could be positive, I could have gotten into a lot of TROUBLE. When trading, the more knowledge, the better the chance of being RIGHT.
There is nothing else going to happen today, so sticking around and watching the paint dry, well it won't make me another penny. Good time to go back to DENVER. See ya Monday
Yeah and if it can hold in this area for a few more hours, move sideways, down up and not break through the resistance, I will be looking at Puts for Next week. I need the 2 hour Histrogram to jump on board which should be about or close to close today.
Understanding patterns is important but understanding break outs is that much more important. I have been siting on my hands for a Day and a 1/2 hoping that the turn will pay off.
The 15 minute chart, the 30 minute chart, the one hour chart and the daily are all in line but the 2 hour and 4 hour need 4 hours to jump on board. Waiting is the hardest part of my job.
Looking at Charts and watching CNBC, Has the feel of a sideways trading day. I actually need a day off to get things done, so I have be waiting on a sideways day.
The daily chart on NDX has a slo sto that has taken a turn to the south. I honestly think yesterday was just the first day down and today should be the sideways retest. With the Dow down 8 of the last nine days and the sto almost at bottom but the MACD is being pulled down towards center line, there will be conflicts for a few days. Hopefully full volatility up and down. I have learned to only play the way the MACD says and if there is nothing there, then go PLAY,
In this case, I need to deal with the new house and the new short term rental until the house is ready.
Do remember
Things FALL faster than they go up. So a RED day can turn really RED if STOP Losses start getting hit and Put options start getting hit as a safety net.
Good Morning Guys, Morning Vegas
The Broker was right about the free money. But to me the only difference between Scalping the $TICK and digging a ditch is the shovel..
LMAO.... I sold my shovel....Put the Money in Options...
Danny Out of Post... Start watching the 30 Min and 1 Hour MACD, they give you a longer outlook of how long you can hold,
Chat again Tomorrow
Either way it tells me what to expect tomorrow. If my stop loss gets taken out I expect another Bloody Red Day.
If it breaks 4734 S1 I get a green day tomorrow up to the Pivot and then probably down.
If it hits Pivot today, then I won;t now if its strong or weak and I will not hold anything overnight.
Danny if you see the cross on the 15 minute MACD, that is the set up I look for. While looking for that, I also watch the 30 minute ans 1 hour MACD as well as the Fast Sto. If the 30 minute and 1 hour sto is at the bottoms and the MACDS are curling at cross over, there is usually a follow of strenght and that is what I call getting the cushion. I bought 1.80's didn;t have to hold long before I was at 2.50 and now they have given me a cushion that I have no FEARS.
I keep raising my Stop loss little by little now so I guarantee I can't loose. But I started with todays profit and now that profit is riding the wave. The 15 minute sto is very high now and we shall see if this is a strong move up or a rebound move.
Still holding, I have a target price of 4734 S1 and 2nd 4750 Pivot.
If it makes it to PIVOT I will dump and look for another entry tomorrow
1.80 to 3.80 shortly after 15 MACD cross
Same as any other play. The set up just has to be there.
30 minute and 1 hour MACD should control the Move. Profitable Stop Loss Set at 1.95. Taken no chances for loss
15 Min MACD Crossover. Kraiggers Play
Target 4750 Pivot Point to Re-Test
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Bought 10NDX 4770 weekly calls 1.80
I have to leave before I do something STUPID>>>
I knew this bloody day was coming... It has broke all support... This may get really ugly.
With this Scenario, I am looking at Calls in the 3-5 area. I will expect a 30-40 move. Just looking to double the move.
I knew the S2 would be hit today, Don;t know why I didn't hold my puts. Only thing I can say is I am training myself to take the first 30% off the table and be happy with the Free Money.
200 30% vs a few home runs, Just works better for me. I left 10K on the table today. Hard to Swallow...
Due remember this.... The market is so OVERBOUGHT, it could actually crash Bloody Red for days
I am watching the 15 minute 30 minute and one hour MACD. If the 15 minute MACD crosses back over below center line today, I will look at calls. As long as it holds 4712 S2, Remember, the market has been trained to buy the dips...
Call Premiums are still cheap and if the right opportunity happens, I see a retest of the top at minimum. It has to retest to build the right shoulder if its going to make the inverted head and shoulders...
This is how my mind thinks ahead.
NDX 15 minute Chart
Looks like the reversal to me
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Its nice to have my Computer system 75% up again. Quick Hitter
10 NDX4690 Puts from 6.10 to 8.60.
Now I can go and Goof off all day.
Good Morning Vegas. Grind- Yes 5 trades over 5 hours Yes a GRIND and for $285. That comes to $57 per hour, honestly not to bad but a lot of pressure. I also see you haven't taken out 5 trades in and 5 trades out. Depending on your trade cost, that number drops.
Still I kind of call it $FREE MONEY$. The broker I talked too told me, there is so much $FREE MONEY$ that is throw away everyday as protection to portfolios. He told me you just have to be patient enough with the $TICK to pick it up. He told me on a Volatile day he could trade 25-50 times in an hour. I couldn't believe it, but using the one minute chart, I saw premiums rise and drop several times in an hour.
Now he was on the sell side of options, that is the biggest difference.
Vegas, A professional taught me, and the first person I thought of was you. My style isn;t as quick as yours but I knew it should help you. It helps my entry a little better but I still have to figure out how it works a little longer term.
I have used it on 3 trades and all have been pretty good hitters.
I hope it makes trades more profitable...
Texas
In Texas, finally in a house of my own, First time in 3 months.
Set up first computer, and working on the rest. Should be fully intact in about a week. Still have 1 computer in Denver. Headed back soon to get the last load, Hot tub, and last computer this trip.
I might stay in Texas until Wednesday
Scalped PCLN this morning. Loving Life
Whats Krammer Say
BOOOOOYAAAAAAAAAAHHHHHHHHHHHHHHHHHHHH
Back To Texas Today........
Watching Earnings and sitting and talking to my New Broker, I see a lot of the same stuff we discussed.
1) First and Formest, The market is extremely overbought.
Everyone has be trained to buy the DIP. One of these times there going to get Caught and a big has Hangmans candle is going to set in and the next candle is going to eat the market with stop losses.
2) All charts are floating sideways with indicators at the top and the market is still going up. Divergence at it s Best
3) I am only looking at technicals and the technicals show that the market will get Bloody Soon
I'm Out... Mic DROP.... Done for the Day... Good Luck Danny....
It is breaking out of the 15 minute Bollie today as I type but I hit my Goal... And I have things to get done now.
Keep an eye on the 15 minute MACD Histrogram. If it gets a lower Level candle. Then watch much more careful. This LOOKS like the beggining of the break out heading into next week earnings.
And thanks Howie: Last Post of the day....
Volume is picking up. 5 Minute Bollie Broke. I think there is a run in this. I have just learned to get 1/2 my money off the table and be happy with that profit. Then if it runs back to where I bought, so be it, I have a stop loss there to take me out.
If it takes off from here, then I am happy I held half. Just the way I have learned to guarantee a profit.
One more post for the day
1326 will be the key. I cut my position in Half, sold 845's
Still holding 5
Took 1/4 off 7.60 Liking the move but don't now how strong it ids until it go's GREEN
Just bought 4 WYNN Lotto 109 Weeekliy Calls at 1.17
Earnings after the bell.
Took 1/2 what I made today and Bought a Lotto Ticket. Not normally like me.
Too Much Info. I just like a candle and the 15 MACD cross. I am also looking at this short term. If it doesn't break out of down trendline, I will bail quickly
Breaks Bollie it sees
1323 will be the resistance of downtrend line
1326 Pivot
Makes it past that and you get long...
Problem
Very Low Volume