So far this week

S/O and I traded....



Edited 1 time(s). Last edit at 05/07/2015 09:31AM by Darcy2.

Great trades, Darcy; but, wow, those CF options have close to a $3.00 spread. I don't have the confidence wade into that pool yet.

I agree with that about the spreads Robert, awesome trades Darcy!

I hope I can explain this.



Edited 1 time(s). Last edit at 02/13/2015 12:43PM by Darcy2.

Hello,
I am finally back at work after being out for 3 months. Yesterday was my first day back. Get this, I am convinced that I trade better at work than I do at home. This is about the craziest thing I have discovered. I have had all that time at home and have been a victim of "over thinking". This is a serious problem! My trading mindset has come back very clearly, and I am back trading well (well, today I made a good trade).

Of course FB has been one of my favorite stocks for a while, so I popped a trade today. I am not well versed in playing gaps, but some things are pretty clear to me. I used a 55, 21, and 5 for the trade today (Call). Based on the Gap up, I was already above the previous day's high when the market opened, but I have seen stocks gap up and loose steam, so I wanted to make sure I did not get caught in that mess. My approach was a bit different. I was closely watching my 21 and wanted to see the candles come back inside the Bolinger Bands. The 9:51 and 10:12 candles closed outside the bands, but my other indicators were still indicating a possible trade. Once that 10:12 candle closed at about 74.67, I knew it had reached a daily high, and had become my magic number of resistance. The 10:33 candle did not close or advance about the high of the 10:12 candle, so I was still sitting. Immediately after the 10:55 candle closed above the 74.67 resistance point, I entered the trade on the 11:00 candle off the 5 minute chart. I had endured a bit of back and forth action during the early part of the morning, but I felt confident the bulls were back in control (at least for a few candles). I picked up .80 (stock) on October 18 weeklies.

Quick Evaluation- Momentum was flowing my way all morning (ADX line from 55, 21, and 5 were up, Money Flow was fairly solid, MACD was pointed straight up on my 55 with solid HIstogram indications, I had a clear "E" on 55, 21, and 5. I just had to wait for an entry point. I did not want to enter a call position when candles are closing outside top BBs, so I had to wait to see if they would lose steam or break resistance and allow me an entry for a short pop. I am sorry I do not have clear numbers on how many positions I bought or how much I paid for each. I just do not pay more than about .30 for a spread, and I use anywhere from $4000- $6000 in my trades. For me, I see the trade. I place it based on hundreds of trades placed before, and wait for the movement. This morning, I used a little over $4000. I cleared a little less than $1000 in profit. The rate of return was a bit high because I bought Oct.18 Weeklies (expiration tomorrow). Not a bad trade for old head getting back in the trading game. I cross my fingers that others trades go this well. I really feel I am back in my element.

Get this, I have helped a student from one of the Survivor classes learn to intraday trade. I have worked with him for months (on and off). Well, he finally got it, but he did not get it until I had to become very direct with him. I said to him, "I am not an X's and O's kinda guy. I have learned this stuff from GW training program, reading, internet, this forum, and my warped way of interpreting it all. I cannot answer all of your "whys". You constantly ask questions that are irrelevant to making money. I am telling you one, last time, JUST DO WHAT I TELL YOU TO DO, AND YOU WILL MAKE MONEY. You have made this much more complicated than it has to be, and you are confusing me, so if you keep asking me all these dumb questions, I will still be your friend, but we will not talk about trading anymore. My little brain can only absorb so much of this stuff as well". As a result of humbling down and losing some of the "intelligence", he is making money and happy as ever. Over the last month, he has made more money trading than he has made on his regular job. He is pretty confident in his trading, so he trades weeklies as well. All of us know that this is very risky, so I do not promote this approach. It is just my approach and now apparently my friend's approach. I am proud of him, but he finally sees that if he is practical and do not overthink, over analyze, over intelligize (ha, ha), he will trade well.

It is good to be back and it is good to see that others are still teaching and sharing.

Looks like GOOGL hitting the bottom today, what is your indicators suggesting on GOOGL? tks.

Welcome back Rookie. Glad to hear you are doing better. You've been missed.