Posted by DigiNomad on 13th of Jun 2024 at 04:06 pm
The golden ticket today was the 200ema on the SPX 30 second
chart. Unfortunately, it changes most days and you have to search
for the one that's working. That double pump over the 21 ema is
fairly consistent though...especially if combined with levels (it's
essentially an ABC playing out, but it was taught to me as a "2 try
failure / trap pattern").
We should try looking for and sharing averages that are
working on various timeframes for intraday trading. I spotted
one today but sometimes I don't find it until I'm looking at charts
that night.
Or just take the day off and BTFD...that works
also!
Posted by DigiNomad on 13th of Jun 2024 at 04:17 pm
Probably upgrading to farmed salmon over the tilapia but below
the black cod after today. That last short is working out nicely so
far. Nice thing about selling short dated calls is that you
1. can typically just watch them print money as they decay even if
it moves up...as long as it doesn't move up too quickly 2. if they
go against you, there's LOTS of room to roll if you think a move
will eventually exhaust itself for like half a day...which is all
the time you need to be right when shorting 1 DTE options.
If you're new to trading and reading this, do NOT follow your
initial instincts on size. First, figure out how to pull $20
dollars out of the market consistently and only lose $10 when you
lose...then consider scaling ("consistent" is different for
different strategies, but 60% is a decent starting point as long as
you're keeping your targets around 1.5 - 2R).
Posted by mastermind on 13th of Jun 2024 at 04:53 pm
I don't do a lot of this, but the one that has been working well
for me the last few weeks is selling out of the money AMC calls
expiring the end of the week. Even today mid-day I was able to sell
$6 calls expiring tomorrow for $0.10. That's not a bundle, but if
you do it week after week, it's a nice return. Some day it
will pop and I'll lose my position, but that's OK.
Yep - the vast majority
SPX 2min - another 2 pushes below the 21ema pattern. ...
Posted by steve on 13th of Jun 2024 at 03:59 pm
Yep - the vast majority of volume is algo driven
The golden ticket today was
Posted by DigiNomad on 13th of Jun 2024 at 04:06 pm
The golden ticket today was the 200ema on the SPX 30 second chart. Unfortunately, it changes most days and you have to search for the one that's working. That double pump over the 21 ema is fairly consistent though...especially if combined with levels (it's essentially an ABC playing out, but it was taught to me as a "2 try failure / trap pattern").
We should try looking for and sharing averages that are working on various timeframes for intraday trading. I spotted one today but sometimes I don't find it until I'm looking at charts that night.
Or just take the day off and BTFD...that works also!
Probably upgrading to farmed salmon
Posted by DigiNomad on 13th of Jun 2024 at 04:17 pm
Probably upgrading to farmed salmon over the tilapia but below the black cod after today. That last short is working out nicely so far. Nice thing about selling short dated calls is that you 1. can typically just watch them print money as they decay even if it moves up...as long as it doesn't move up too quickly 2. if they go against you, there's LOTS of room to roll if you think a move will eventually exhaust itself for like half a day...which is all the time you need to be right when shorting 1 DTE options.
If you're new to trading and reading this, do NOT follow your initial instincts on size. First, figure out how to pull $20 dollars out of the market consistently and only lose $10 when you lose...then consider scaling ("consistent" is different for different strategies, but 60% is a decent starting point as long as you're keeping your targets around 1.5 - 2R).
I don't do a lot
Posted by mastermind on 13th of Jun 2024 at 04:53 pm
I don't do a lot of this, but the one that has been working well for me the last few weeks is selling out of the money AMC calls expiring the end of the week. Even today mid-day I was able to sell $6 calls expiring tomorrow for $0.10. That's not a bundle, but if you do it week after week, it's a nice return. Some day it will pop and I'll lose my position, but that's OK.
Yeah, and the pops on
Posted by DigiNomad on 13th of Jun 2024 at 04:57 pm
Yeah, and the pops on AMC tend to be short lived, so your chances of winning on a roll up in price and out in time are pretty high