Matt, two things. 1. Regarding

    Posted by sim2009 on 30th of Sep 2022 at 05:07 pm

    Matt, two things. 1. Regarding the signal to take a second entry in the SPY QE 3.2, you had sold 1/2 of the first entry for that strategy on 9/28 due to market conditions.  Your posting implies that you would still buy two option contracts for the 2nd entry today as you normally would, rather than half as many.  Is that correct?
    2. For what it's worth, I'll share how I screwed up yesterday. I did sell half of two different option positions for SPY Bear long 1st and 2ns entries, and bought a new one for SPY Bear Exhaustion as I meant to.  But in the scramble to get this done before 4:15 pm, I lost track of the need to set stops for the remaining SPY Bear Long options. I am paying dearly for it today!  Lesson learned on my ability to set up multiple trades under time pressure.

    the left open 1/2 trade

    Posted by matt on 30th of Sep 2022 at 05:18 pm

    the left open 1/2 trade for bear long had a stop at yesterday's lows, being the ETF breaking the lows. You can't set stops like that on options, so it's conditional, once the ETF was stopped out at the lows mid day (not the close), the options would be sold too, not at the 4:15 close. I can do better on my alerts and next time I'll make sure to send something out intra day as a reminder that the stop had been hit. One can also set conditional stops at their brokers meaning a stop can be set on options with a condition based on the ETF hitting a certain price, or you manually do it. 

    yeah losing trades suck, they happen, but if you've been following the trades all year you have a huge amount of profits from the entire year

    and quite honestly guys, I hate doing this options crap, it's the one thing that I'm always stressed about trying to get them in time, you have spreads, and since stops are tricky because of conditional orders needed, I may just stop the options trades - I need to simply things

    Please continue the option trades.

    Posted by steverobin on 1st of Oct 2022 at 07:25 am

    Please continue the option trades. If you need to simplify just have definite entries and exits. Traders can choose their own exit plan. The options are more profitable than the ETF’s $ and %.  They are a better tool for a smaller account. 

    Agree, well articulated on options.  If

    Posted by retirefire on 1st of Oct 2022 at 09:08 am

    Agree, well articulated on options.  If necessary we can pick our own. Maybe do a video on how to select and a permanent space that states beta for each entry.  I realize you have stated that many times.  Thank you. 

    Yes, I have very nice

    Posted by sim2009 on 30th of Sep 2022 at 08:02 pm

    Yes, I have very nice net profits from trading the systems this year and I appreciate that.  Trading options in the 15-min time window can be stressful but can be very profitable.  But leverage is also available through futures.  It is on my todo list to become more familiar/comfortable with trading futures with good risk management.

    Yes I also find that

    Posted by mirhamedali on 30th of Sep 2022 at 06:49 pm

    Yes I also find that options are hard for short term trading for that reason. Plus the commissions. 

    I have been using options along with the daily KISS signals however and making a killing! Thanks for that. Those are longer term swing holds. 

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!