Diginomad, thanks for the thorough response. Steve especially reminds us repeatedly that we should have a trading plan. With your response it is obvious that you do. Kudos to you.

You do have some big  risk appetite Digi. I take my hat off to you. Ten years ago I tried trading Iron Condors but found that a helluva more difficult than trading the E-minis and macros. Good luck and good hunting!

Thanks CrossHarry.

Matt recently posted a few posts using chatgbt to design code for some indicators. I have  searched for it but it does not populate. Could someone give me an idea when it was so that I can find it. Thanks in advance.

Thanks Steve, I was busy with my trading plan and looking at a number of scenarios.

10 years ago I studied a very good EW course with Juan Sarmiento who is a wiz on TOS and on EW. I do recall that the wave 5 could never be larger than wave 3. Is that your opinion too Steve?

Thanks for this important piece of information Steve.

Great to see a succesful options trade Diginomad. I have been tracking the trade which shows $190 out of max $480 profit so far. Did you sell any more puts or put spreads? Are you going to hold until expiry?

Thanks DigiNomad. I have plotted the trade on my TOS platform and will watch it develop.!

Great option trade DigiNomad. Could you post an analysis(risk/reward) chart.  

Thanks MLA. I have quite a few long term positions on URA, CCJ, UEC and UUUU. Taking quite a bit of a draw-down but also optimistic.

Actually watched The Big Short over the week-end  However I must admit my sympathies do lie with the momas and papas out there who will always be the losers!

This looks great Matt. how many of the ETF's have E-Macro contracts associated with them. It would be great if you could contine letting us know about potential trades before and after the market has closed. This will allow those of us in the Antipodes to prepare option trades before the end of our day.

My Uranium longer term positions took quite a hit today! CCJ, URA, UEC and UUUU

Have had another look at the past 6-12  months of trading. Trading the system with futures(MES-ES and MNQ-NQ) has been twice as profitable as my option trades in the same  period. I hate mssing out on the long option trades on a signal like the bear long  Matt shows in the posting and do therefore trade debit spread options with expiry at least 60 days out. Any thoughts from the other option traders out thereon how to make the option trades more profiitable?

I am one of those people, I concentrate on the SPY/ES systems for 90% of my trading. Learned a hard lesson 5 years ago where I tried to trade futures/options and forex.. Get back to basics. Find a system that works and do your doctorate on that system.   

Hi Matt, I am looking forward to the other ETF' s as well. However I would appreciate you keeping the SPY system as you have where we get signals on all the charts on SPY. Most of us have developed a trading plan to suit and have no problem with some being long and others short at the same time. Thanks

Please keep the present system of indicating during trading hours which possible trades there will be. For us in the Antipodes market close is what we work with. I understand the new method will be easier for US traders and I accept that.

You are a star Patellee. It is not easy to see the draw-downs and the DVDS system probably caused some sweaty palms. No luck involved, great Profit Factors on all the systems. Questions for you. 1. Do you do any other trading other than the SPY/ES systems? 2. Do you trade both options and ES-minis or macros. 3. Have you a trading account larger than $100k. 4. How do you manage margins. Are you very conservative or do you trade with a small margin? i used to allow $15k on the ES minis but am now quite a bit more conservative. Definitely do not want margin calls.

Thanks James, this makes it easy for us to prepare our option trades.