TSLA Snipe and a Heartfelt Thanks to Fellow Traders

Firstly, I'd like to say thank you to everyone who has been willing to share their trading knowledge with a special thank you to Darcy and Rookie30 for their very detailed intra-day trading techniques. Gary's art-not-chart approach hasn't really worked for me. I have an engineer's mindset and really need concrete rules that make sense to me. Combining Darcy and Rookie's nuggets with what I've been reading in "The Market Maker's Edge" has been a tremendous help. I've written a few indicators for myself based on those nuggets.

I've been watching the market and practicing for the past couple of months and am much more patient now than before. Now, I don't make a trade until and unless all of my indicators are green for calls or red for puts. If the colors are mixed, then no trade for me. The mixed colors have kept me out of a few trades this week that I would have jumped on in the past; but wound up being losing trades.

Which brings me to my second point --- I made a successful real-money trade on TSLA this morning. All of my indicators (as seen below) were green indicating a CALL play. However, the market was down for the day, so I knew this would have to be a fast snipe play looking to make a small amount before getting out.

10:29 BTO TSLA OctWk1 190 Call @ $5.00
10:32 STC TSLA OctWk1 190 Call @ $5.47

I'm very happy in Seattle with rougly 10% gain in 3 minutes.





Edited 1 time(s). Last edit at 09/27/2013 10:13AM by robert.

Good 4 u....

That is awesome! 10% in 3 minutes is taking what the markets gave you and jumped out with a bit of extra cash. If they do not line up, no trade! Good stuff.