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royg1927

09/07/15 12:23 AM

#24779 RE: Trader Al #24777

Al, hi again.

The indicators I listed are the primary ones (of about 10 that are permanently, but changeable by me) on each of my charts: 1-minute, 5-minute, 15-minute, hourly, daily, and weekly. Each chart (via StockCharts) is available in seconds by a single keystroke. Modification of indicators and other chart attributes takes longer and is an after hours effort.

My own set of tools, charts, indicators and other features is much greater than most other traders. Maybe too much. However, my eye is accustomed to the environment from years of action and responds pretty well to the important matters at the moment. Some days and situations can result in several trades in a single session. One has to have a well developed system.

Much more goes on in addition to my previous simplified response in preparation and following the action during the life of a scalp attempt. This is complicated.

I have two chart services, StockCharts and TeleCharts, each of which costs just less than $40 per month, both of which I have subscribed to for about 10 years. They are essential to my work and I consider cheap.

I recommend without reservation the (FREE) Chart School. Get to the Table of Contents and go on from there forever, months, years.
http://stockcharts.com/school/doku.php?id=chart_school

I also refer to other free chart services less frequently, useful for long term considerations. Here is a link that you might explore to see a very broad set of information:
http://stockcharts.com/public.
One I favor (not often) is Think Tank Charts No 2, Larew

Strike selection is very important but quite complicated, beyond explanation here. I will just suggest for a beginner to initially experiment with strikes very close to the money.

I post trades that time permits within a few minutes. Others are made in "real money" or "practice" trades that are not usually posted.

This options trading is complicated. Take your time, patience.

There are others on this board who will often have time and inclination to reply to questions. That's how most of us got where we are; helpful friends. We like to work in facts, politely. I will rarely have this much time to post replies. It's a 3 day weekend.