DigiNomad, assuming that you took 4370-4420 Bear CS last
at 4160 on SPX cash index, and the market moves to touch 4230. How
would you defend your position by doubling up?
If the market moves 5 waves down from 4160, you could close your
position for a profit, I assume in order to buy higher again. I
could replace the 5 waves with a measured move from a pattern
(wedge, etc.).
DigiNomad, I learned the bulk of it from Kody Ashmore on
youtube. I am struggling with being profitable on the indexes.
I feel and can money on grains, often on gold but not on the
indexes. Your method resonates well with me, and I am willing to
try with smaller spreads and 45 days out (45DTE) on the weekly
expiry schedule.
You sold your last call spread on wave 5 on Thursday, if I am
not mistaken, didn't you?
DiginNomad, is there any reason for delta 16 versus delta 20? I
was taught that delta 20 is good enough, and a stop goes to 3 times
the credit received.
Lastly, how do you define extreme? Wave 5 completed with
divergence? A double top with divergence on 1-hour charts?
Thank you very much for these notes! (aka DN top picking method
:-) ).
DigiNomad, I can see that these are your current positions. I am
curious about how you open and close them over the span of several
weeks. My understanding is that your open at an extreme high, and
then wait for that position to gain 50% and then close it for a
profit. Then you repeat the cycle. Am I close?
DigiNomad, could you be kind enough to post your recent trade
log to illustrate your method? I cannot connect all the pieces
enough to use it. Many thanks in advance!
There is no news about the grain corridor. Today's bounce is
technically induced and could be played as a momentum play. The
time to buy for a swing trade was Friday or Thursday. Grains
seasonally peak in mid-May and drop into late June.
James, are systems created by AI profitable at all then? Based
on your comments, AI created systems will side with the majority,
and hence will lose in trading: majority loses trading markets.
Correct?
The community is delayed by three days for non registered users.
I could try to paper
SPX Daily
Posted by junkie on 15th of May 2023 at 05:25 pm
I could try to paper trade with all this information now. Thank you very much, DigiNomad!
Yes, liquidity is the key
SPX Daily
Posted by junkie on 15th of May 2023 at 05:21 pm
Yes, liquidity is the key here.
DigiNomad, assuming that you took
SPX Daily
Posted by junkie on 15th of May 2023 at 05:13 pm
DigiNomad, assuming that you took 4370-4420 Bear CS last at 4160 on SPX cash index, and the market moves to touch 4230. How would you defend your position by doubling up?
If the market moves 5 waves down from 4160, you could close your position for a profit, I assume in order to buy higher again. I could replace the 5 waves with a measured move from a pattern (wedge, etc.).
Do you defend your position
Tastytrade--Sosnoff---i believe it was last year sometime he interviewed a ...
Posted by junkie on 15th of May 2023 at 05:02 pm
Do you defend your position by closing for a loss and doubling up with higher prices? Your max loss is limited with a call spread.
DigiNomad, I will paper trade
SPX Daily
Posted by junkie on 15th of May 2023 at 05:00 pm
DigiNomad, I will paper trade your method a few times. I may post a few for a confirmation/feedback on this site log. Thanks a lot again!
DigiNomad, I learned the bulk
SPX Daily
Posted by junkie on 15th of May 2023 at 04:49 pm
DigiNomad, I learned the bulk of it from Kody Ashmore on youtube. I am struggling with being profitable on the indexes. I feel and can money on grains, often on gold but not on the indexes. Your method resonates well with me, and I am willing to try with smaller spreads and 45 days out (45DTE) on the weekly expiry schedule.
You sold your last call spread on wave 5 on Thursday, if I am not mistaken, didn't you?
DiginNomad, is there any reason
SPX Daily
Posted by junkie on 15th of May 2023 at 04:35 pm
DiginNomad, is there any reason for delta 16 versus delta 20? I was taught that delta 20 is good enough, and a stop goes to 3 times the credit received.
Lastly, how do you define extreme? Wave 5 completed with divergence? A double top with divergence on 1-hour charts?
Thank you very much for these notes! (aka DN top picking method :-) ).
And any particular delta that
SPX Daily
Posted by junkie on 15th of May 2023 at 04:23 pm
And any particular delta that you prefer for the position? Or merely the most likely high plus 50 points added to it for a spread?
DigiNomad, I can see that
SPX Daily
Posted by junkie on 15th of May 2023 at 04:21 pm
DigiNomad, I can see that these are your current positions. I am curious about how you open and close them over the span of several weeks. My understanding is that your open at an extreme high, and then wait for that position to gain 50% and then close it for a profit. Then you repeat the cycle. Am I close?
DigiNomad, could you be kind
SPX Daily
Posted by junkie on 15th of May 2023 at 04:09 pm
DigiNomad, could you be kind enough to post your recent trade log to illustrate your method? I cannot connect all the pieces enough to use it. Many thanks in advance!
The direction is a coin
SPX Daily
Posted by junkie on 15th of May 2023 at 03:44 pm
The direction is a coin toss, and timing is Wdnesday based on Steve's vacation indicator: big moves when Steve is away :-)
There is no news about
Ags bouncing overnight led by Wheat
Posted by junkie on 15th of May 2023 at 09:16 am
There is no news about the grain corridor. Today's bounce is technically induced and could be played as a momentum play. The time to buy for a swing trade was Friday or Thursday. Grains seasonally peak in mid-May and drop into late June.
Thanks a lot for your
QQQ 5 waves down and bounce - Shorted the close
Posted by junkie on 12th of May 2023 at 04:14 pm
Thanks a lot for your updates, Steve! They are invaluable for an inflection point of QQQ.
James, are systems created by
Volatility daily systems
Posted by junkie on 12th of May 2023 at 01:32 pm
James, are systems created by AI profitable at all then? Based on your comments, AI created systems will side with the majority, and hence will lose in trading: majority loses trading markets. Correct?
Matt, what is a chief
Volatility daily systems
Posted by junkie on 12th of May 2023 at 01:10 pm
Matt, what is a chief weakness of trading algos or systems created by AI?
103.00 then 105.48 on the
DXY - busted into clean air today. Anyone have a ...
Posted by junkie on 12th of May 2023 at 11:25 am
103.00 then 105.48 on the front month contract
/GC is posting a doji
Posted by junkie on 11th of May 2023 at 11:33 am
/GC is posting a doji candle on the weekly. A close below this level -- $2023 on /GC June contract -- is negative.
Matt, I disabled Windows updates
Frustrating morning finally back up - and market comments
Posted by junkie on 11th of May 2023 at 10:55 am
Matt, I disabled Windows updates on my computers through a security policy several years ago. Life has been normal since!
Steve, do you expect a
QQQ 30 Updated View
Posted by junkie on 11th of May 2023 at 10:53 am
Steve, do you expect a breakout to the upside from this wedge after temporary weakness? A preferred wave count on QQQ points higher.
DXY is the key indeed.
DXY - strong today in the early going. If it ...
Posted by junkie on 11th of May 2023 at 10:04 am
DXY is the key indeed. Very few understand its dynamics. It could start moving higher into August-September.
eurusd broken its uptrend line and is on support. It is a short on its backtest.