I see a big Doji on the VIX. Should I consider that as a reason not to enter any new Puts now and to keep an eye for Call plays? As much as we went down I checked my basket and 60% of the stocks in it actually closed higher - most are compiled from IBD50 and could be considered smaller to mid cap stocks.by sonicwave - Trading Discussion
I did the following trade recently: Ticker: BITA Jan 70 Put Entry: 10/2 Exit: 10/8 (before the big rise) Honestly, I had my doubts about this trade. It appears it worked...my advice is to just follow the system! I applied the concept of IVR / IVS and saw a triangle converging. the FP down signal came on the Daily so I decided to enter the following day. The market volatility was veby sonicwave - Trading Discussion
According to TOS, the Dow futures should start moving really well pretty soon to the upside...by sonicwave - Trading Discussion
Fireman, thanks for replying so quickly. I agree with your comments. I could have been undisciplined trying not to "miss" getting some action and prematurely got into the FANG trade. It was not a perfect trade. When I get a chance I am going to check out your trades. Thanks!by sonicwave - Trading Discussion
I decided to try and start a thread for posting practice and real money trades for folks to look at, provide commentary and offer feedback to help one another. I just got into a big chart trade with FANG. Dec 75 Call at $6. FP up Daily, E signal on 144Min, MACD improving on weekly, Monthly has support at 8W MA. Some downsides are that the stock is trading below the 8 week MA and monthly MACby sonicwave - Trading Discussion
Here are some big chart trades I received in response to my post from back in May: Daily Trades: NFLX 5/12/14 GOOG 5/13/14 233 Trades: ICPT 5/20/14 PCLN 5/20/14 Here's a link to that postby sonicwave - Trading Discussion
Is this a special or new booklist? When I first saw the title for Think and Grow Rich I had to admit I was a bit skeptical. However, after reading the book a few times and incorporating other materials like the Will Smith you tube I have a new appreciation for it. It truly is a wonderful book. I'm currently re-reading The Disciplined Trader since I took GW's class a few years ago and it sby sonicwave - Trading Discussion
Nice trade! I noticed in my seasonality chart, that for past 5 years the major indices travel down from 9/15 into 9/30...since I missed the down move I am waiting for a sign to move back up and planning to enter for my F/W w+o trade...of course, I will have to wait for evidence.by sonicwave - Trading Discussion
So with the Daily TRN chart deep in the top BB I decided to exit the trade. I also sold because the Dow futures Daily were deep in the bands. Also, the XLI (Industrials sector ETF had a very big red engulfing candle on the Daily). I didn't make much on this trade. I had purchase the Jan 50 Calls for 3.60 and ended up selling them for only 3.90. Taking into account transaction costs, my netby sonicwave - Trading Discussion
Saw this article today here and pasted it below: Link To Market Watch Article Opinion: A simple way to beat the market with stock splits CHAPEL HILL, N.C. (MarketWatch) — It’s been nearly five months since Apple announced it would split its shares seven-for-one. During that time, its stock has gained about 36%. A coincidence? The historical data suggest not: The average stock thatby sonicwave - Trading Discussion
FM your entry is awesome! I have so many tickers in my watchlist (100 stocks) I truly have a difficult time going through them all in a 10 minute window. If I want to do an honest job it takes me much longer like 30 minutes. Do you have any shortcuts? My intraday scanner on Tos is busted and I haven't heard of any fix having been released.by sonicwave - Trading Discussion
I entered the following trade today at 10:43 AM EST. TRN $49.69 Jan 50 Call at $3.60 FP up on Daily Chart (hitting top BB is a concern) Monthly chart has literally just been trending up Weekly is bouncing off the 8-ma (I'm a late here) Next earnings at end of October As a group, Industrials are doing well (I use XLI to track the industry group) I'm not sure what a good exit priceby sonicwave - Trading Discussion
Here's a fun long term S&P 500 chart. Please correct me if I am mistaken, but when a rectangle is broken doesn't go up by as much as the previous range. If that is correct, then the S&P500 should probably stall out around 2,200:by sonicwave - Trading Discussion
Thanks guys!by sonicwave - Trading Discussion
Wow! Thanks for posting so quickly. So according to the latest "rumors" the Fed will not raise rates today, but my remove language about "continued" lower rates. If that happens this kind of move could take place! I am purely interested in this for "fun" and not doing a trade per Gary's system. I guess you could say I am at fault for looking into the weeds! Lolby sonicwave - Trading Discussion
Does anyone have access to a 5 minute chart of the S&P 500 from June 30, 2004? That was the last time the FOMC initiated a series of rate hikes. I am curious how the market behaved that day intraday. Thanks!by sonicwave - Trading Discussion
I've added a TOS feature to my charts and I find it very interesting. TOS has a feature that shows the stock's seasonality by averaging the % return for any given time range (1 year, 5 year, etc...) Here is one for FB showing the 5 year seasonality and comparing it to today's action. I think it's interesting because we got a FP down on the Daily, but the Seasonality clearly shows that this dby sonicwave - Trading Discussion
If I missed the boat today and didn't have or get into any options, am I too late?? I am a big chart trader. I noticed SCTY went from one band to the other in 1 day! That's pretty volatile for me. I also noticed that there are some other names that haven't moved down quite as much like JAZZ which appears to have more room down to the downside.by sonicwave - Trading Discussion
The FOMC meets next week and as usual there is discussion about a potential interest rate hike. I had originally thought that the market was not anticipating an interest rate hike since for the most part the major indices have been relatively FLAT for the past 2 weeks. However, I got my head out of the sand this AM. I wish I had seen and thought about this earlier. I noticed that the XLE (Eby sonicwave - Trading Discussion
Fireman, Thanks for posting trades - that's always helpful. I noticed for some of the stocks you trade that the options have a high bid ask spread. Like for example, BIIB it could be approximately around 10%. Have these stocks with bid-ask spreads around 10% impacted you negatively. I notice that they have "awesome" runs sometimes, but unless your % correct on trades is high,by sonicwave - Trading Discussion
Thanks for posting, that's super awesome!by sonicwave - Trading Discussion
Good luck in your recovery!by sonicwave - Trading Discussion
That's awesome! I continue to use it...my most recent entry is Z. It is acting a little weak today and I am considering exiting. The stock did move up well, but the gains could be temporary. This approach makes things much more "black and white" for me. How did you enter it in TOS as a scan?by sonicwave - Trading Discussion
I recently was going through my signals on the daily charts and noticed that if I chose plays where a signal had taken place "FP or HRFP" and the stock had risen above the "Previous Week High" (PWH) for up signals or below the "Previous Week Low" (PWL) for down signals than the probability of my trade working for $1 increased dramatically. After a signal, it might hby sonicwave - Trading Discussion
I just got an email from them offering a discount to their service for platinum for 100 for the year. If you want more info send me a pm.by sonicwave - Trading Discussion
In my experience over past few years, betting up has always been prudent. I noticed Dow weekly got support on 8 ma. Will it hold? You can't really predict such things. Seems like if everyone is on side bull or bear then it doesn't work out.by sonicwave - Trading Discussion
Linter thanks for taking the time to share that and being open about your experience. Sometimes my heart too isn't up for the job! Rookie, thanks for sharing too. Indeed it is a very challenging to deal with! Sometimes talking about it makes the mind clearer and lets you get it off your chest. You are not alone in that situation!by sonicwave - Trading Discussion
Thanks for the replies guys. I will take all points into consideration. I do have reserves to carry me through and some. I may have to move back in with Mom though to pay less rent :-) I guess I could take the time to find something more suitable for "trading". I do find that at my current role half the time I come home I physically have energy but my brain is basically like scby sonicwave - Trading Discussion