How I trade SPX using the 1 (or 3 minute) and 15 minute side by side. Hopefully this helps and answers a lot of the DM's I get. Wishing you all a huge green week! โค๏ธ
There are tons of great trading strategies out there. This is what I use and have found it to be very successful. Please invest in yourself and study hard! If I can figure this stuff out, anyone can. ๐ Wishing the best to all of you!
Another great strategy using
@unusual_whales
! This is courtesy of
@SharkofTraders
. Thank you so much for doing the live tonight! It's fantastic to learn how people are utilizing this tool ๐๐ Hope this helps many. โค๏ธ
Here's a good rule of thumb day trading options:
Mon-Wed choose weekly, Thurs choose next week expiry and Fri choose 0DTE lotto with SMALL size or choose next week expiry. You want to choose strikes with a Delta of .45-.55.
Getting questions about the 8/21 EMA strategy. 3 things MUST occur before I take a position:
-Rejection of resistance or bounce off support
-Then wait for 8/21 cross over
-Then wait for 1 (1 minute) candle close to โ๏ธ trend
-Now I take a position
Refer to pinned tweets for more
I was asked to illustrate my 3 SPY trades today so here it is! 1 minute candle. Played a bit more risk this morning due to very weak price action, but would not necessarily recommend it. ๐
Additional thoughts on the 8/21 EMA strategy. Hoping this can further help some of you! โฅ๏ธ
Check my pinned tweet for more info on the strategy itself.
45 minutes of trading SPY and now done for the day to spend time with family. Don't need to overtrade. Find that gem and get paid. Have a fantastic weekend everyone โฅ๏ธโฅ๏ธโฅ๏ธ
@realDonaldTrump
There is SO much corruption and fraud on the left. And someone is about to get their hands slapped...or should I say their asses handed to them.
Dems will have to ask Jack Tapper to get up to speed. Oh wait, Jack only practices info suppression and censorship. Oh well!
There were so many charts that I could share from today but I chose MSFT because I played it the entire day (minus opening bell). Another 1 minute chart. I am just going to accept the fact that I love the 1 minute. You guys do what's right for you. Let's crush it next week!
Tested a new indicator today and I LOVE. Bjorgum Key Levels in TV. It shows all the distribution/key level channels. Traded SPY today (of course). ๐
I was done trading before 11:00 CST. Dont @ me about the HUGE move I missed EOD. I'm still pouting. ๐ข๐ข๐ข
The 8/21 EMA is a simple strategy and with discipline can lead to a ton of success. You dont need 50 indicators. Create a system, keep it simple, establish a set of rules, be patient and WIN!
3 SPX trades and I was done for the day. Here is a recap! (The Book of Frog is the infamous
@TheRealNasa00
who is the best premium trader EVER. **Premiums have ranges**)
QQQ chart and illustration of how I have been using the ADX +D1/-D1 indicator (called Directional Movement Index in TV). Remember, I am not interested in scalping top or bottom. I play the meat where the R/R is highest. There was a ton of opportunity today!
The only thing I have traded past 3 days, my beloved SPY. ๐ Bears were definitely in control today.
Using the 8/21 crossover strategy. Please refer to pinned tweet for a lot more info. Cheers to everyone for a prosperous Friday!
When playing options, entry is key. Don't chase. I broke 1 of my rules yesterday & chased a put. FOMO. Stupid. It reversed and I immediately lost $249. If I can't get an entry on the 1st confirmation candle on the level, I wait for the retest. Patience wins/fomo loses.
This upcoming week could bring HUGE volatility. Be careful out there and protect your capital.
Tuesday = VIX expiration
Wednesday = FOMC
Friday = Quad witching day
Please Google terms to learn more ๐
To help with conviction in your trades, this was the PERFECT NVDA bull run this morning and something to watch for. Look at the spread/distance between the EMA's/MA. Zero reason to exit this trade other than to scale out profits and pay yourself on the way up.
8/21 strat
Knowing your levels of support & resistance is critical. But can you identify the daily trend? It can help immensely with your set up, expectation and profits!
If there ever was a textbook play, this was it! Along with SPY, SPX and tech names. Hope this helps with identifying signals and trend for your next set ups ๐
Who murdered NVDA with me today?!?! You know how much I love this ticker and have the chart up every day. This was my only trade today. You do not need to play 10 tickers to make good money. If you get it one, don't over trade. Just enjoy the gift!
SPY day! Full disclosure I did NOT make all these plays. In fact I didnt even mark my entries and exits today. This is only for illustrative purposes to show you what can be done using support/resistance levels, 8/21 and price action. 2nd chart to show why I love HA candles ๐
I don't hold long. And so what? I have ONE goal. To bank $1k per day. That's it. ONE GOAL. Swing trade, day trade, option calls, option puts, commons. You do you...I will do me. Watch me roar!
Today marked my 32nd wedding anniversary. High school sweethearts. We went down to the boat, scrubbed it top to bottom and ended with a cold beer on the river. Not most other's kind of anniversary celebration but it was def my kind. ๐
Hope you all had an amazing trading day! โค๏ธ
Bit of a longer post but I want those who are interested to see how I play SPX. You all know I have the 1 and 10 min side by side. At PM the 1, 10 and 15 were all bearish (under 50SMA), BUT price was sitting right on the 30 min 50SMA and was providing good support. Cont'd โฌ๏ธ
Let's try this again! I have this on my pinned tweets but on page 3 I mention 10EMA. That is a typo on bullet
#4
&
#5
. It should be 8EMA on the 10 minute chart. Here is the corrected version.
#mommaalwayssaidproofread
SPY chart! I only traded it on the way up this morning (white arrows), but provided some other opportunities with notes (yellow arrows). Hope this helps!
1 minute chart, 8 EMA in yellow, 21 EMA in red, 50 SMA red changing to green and back. Its called CC SMA 50 close in TV.
SPX puts are simply undeniable. 3860p ran from $75.00 per con to over $4,000 per. And once again it respected the 10 min chart and rode the 8EMA all the way down. Could not break through the 50SMA which was also at a strong resistance (3900). Puts, puts, puts ๐
Reviewing my 1 trade from yesterday morning. How I played the open, the strategy worked out great but also how I could improve on my exits. I've always said emotions are my biggest challenge in trading. Always review your trades. It is a goldmine of knowledge and Aha! moments.
Fun Fact: There are 253 trading days in a year. If you averaged $300 per day in gains, that's an extra $75,900/ year. $600 per day is $151,800. Think I'm looking at % gained? Nope. It's all about the dollars.
It's not hard. It just takes studying...yes, please invest in YOURSELF....rules, patience and discipline.
(Check my pinned tweets for a ton of info on the 8/21 strategy)
Look, I am not here to post gains, tweet my fills or flash blue cards. If that's what ur looking for, move along. Not my style. I'm here to provide ideas to improve ur trading game. I've been very blessed trading options but only my hubby knows how blessed. Best to all of you.
The trading rules! Today I was reminded of one of mine...Never countertrend a play. Got COOKED on SPX puts & gave back all gains from A.M. run up. Made some green back on calls P.M. Harsh reminder of the importance of having AND following your rules. Better day tomorrow!
If you struggle with fear, add to losing trades, cut winning trades fast, stop studying chart patterns/market theory/indicators/wizzywig hell and start focusing on the pyschology first! I study TA a lot but study psychology 10x more. Best Losers Win by Tom Hougaard. EXCELLENT.
Hey you guys, I want to show you why the Directional Movement Indicator in TV is sooo important to my trading. As you know, I trade the 1 min and can be especially helpful right at open. I took 3 SPX trades today. 1st 2 in the first 10 mins of open and then another on momentum
I'm telling you, the day you ignore Twitter and stop following the biased furus is the day you start making more money. So cliche but just play the price action/chart in front of you. Exhausting seeing so many people lose bc of some jacka** biased predictions
A+ set ups only this week! Please do not over trade. This will likely be the wildest week of the summer with FOMC, GDP and all the big tech earnings. There will be traders who make their month's goal and traders who get crushed. Be the former. Best wishes to all of you! โฅ๏ธ
I was just asked how I knew the markets were going to rally when they dumped PM. I didnt. But when you remove the bias and just play the price action/chart and STOP TRYING TO FADE THE MARKET....I'm just sayin....
Any BOSS swing traders out there? This is 1 area I absolutely suck at. Am scared to death to swing play & not sure where that fear comes from. Could have swung SPX 3700c for example, went from 2ish-89.00 in 2 days. How to time it? And guts to hold o/n? Need Swing Therapy ๐ซค
SPY trade! Look at the price action right at open. The sell pressure was huge (LONG red candles). Used the 5 min for conviction and used the 1 min to scale out on dips. Pay yourself and bank gains. 430P, 0DTE. I only took 1 trade, but show 2 other possibilities. 8/21 EMA strat
PRICE ACTION. There are entire books published on this topic, but this might help to give a glimpse of what it is. It is so important it is to learn this. There are likely tons of videos on it also ๐
For those who don't know, you can trade several indices for 15 min after market close. SPY, QQQ, VXX, VIX are just a few. I did not buy any AMZN calls...was too chicken...but hopped on SPY calls the second those AMZN numbers came out and banked.
One of the best things I have done to improve is throwing up arrows on the charts when I enter & exit so I can review my trades later. Boy did I leave some $ on the table today! Decent day but perhaps my confidence was down and I didnt even realize it. Super conservative.
Another amazing (easy to understand) video on learning how to chart support/resistance levels. If you are daytrading and the 15 min chart is too noisy or unclear, try the 1 hour.
Kind of digging this indicator. So many important levels that I wouldnt have to draw out manually. It was spot on today and will keep watching for accuracy...especially PM high/low and prev day high/low/close. Its called Daily Levels Suite + Market Breadth by mcthatsme
Run your trading like a business, not a casino (or the govt ๐ ). You are here to MAKE money, not gamble your money. Set rules, plan your trade and for the love of God trade your plan. No gambling. No "hoping" it goes your way. This is your business.
Sometimes you gotta go with your gut and EOD SQUEEZE was on my mind all day. SPY play using ES chart. My exit was at $1.23 based on the premium chart. This was a level I charted PM. Went much higher but .28-1.23 was plenty good for me. ๐
Reviewing my trades and classic why I got stopped out on first attempt...I broke my own rules. After I pulled my head out of my backside, it worked great. Patience really does pay. SPX
Based on a convo I just had. Learn to trade both upside & downside so that ur not fighting the trend. Ex: trying to take calls on small pops on a bearish trend. It's a fast way to lose $. Trade the trend or walk away for the day. Preserve capital. There is endless trading ahead
Never ever stop learning. Even if you know, this is an amazing refresher. If it's new info watch it twice! Break of Structure Strategy. So good! Thank you
@_NurseG_
for sharing this โค๏ธ
I see too many day traders rely on Fintwit crystal balls only to see their accounts blown. My late father used to say, "Wish in one hand and shit in the other". Try turning Fintwit off during trading hours and play what's in front of you. Charts don't lie.
You're going to be proud of me! Been trying out the 3 minute TF this week (a little anxiety, ngl lol) but with that, I have fine tuned the D+1/D-1 of the ADX indicator to line up when the candle crosses the 8 EMA. Has been working very well!
If this can help anyone....you know how I've been playing SPX and married to the 10 min chart. At open I just waited to see if we got a pullback to the 21EMA (white arrow). My thesis for going long was that 50SMA. It was curling up but more importantly,
I'm kind of obsessed with trading $SPY. I've spent weeks studying it. One of the best tips I recently received was from
@TheRealNasa00
. Keep a live chart on $VXX open also. They trade opposite of each other. Gives greater conviction to your decisions! TY Nasa!
One other thing that I have been doing is identifying the chop as soon as possible and charting it with the purple levels. I will wait for a breakout of that chop to enter a trade. This area carried through from yesterday as well. (I will readjust as needed.)
Today I ended a nice green streak. I was reminded quickly how important it is to trade within the rules. Damnit. Clawed my way out of some of it and then walked away. Time to clear the head and come back tomorrow stronger. Hope you all had an amazing day!
Playing the open: been leaving ext hours on for 1st hr this wk to see if we have continuation. It has been working well! Once price action cleared EMAs, 8 under 21 AND it was under the 50, I went heavy. Exited on the doji. Give it a try & see if it helps ๐
QQQ
My success with AMZN today.
@TheRealNasa00
taught me the importance of watching premiums and capitalizing on major opportunities when the arise. TA is super important, but market sentiment and risk to reward can land incredible gains.
On of the very best vids on volume I've ever watched. Put it in motion this morning. Watch the video and you'll see why I exited my position where the white arrow is on the chart. Cont'd...
Another one of those stellar SPX days. You would have risked a little over $200 to make over $5k per contract. Entered on the 1 minute as usual and once the play was in full motion, switched to the 10 min. It rode the 8 EMA all the way down.
I never ever slap the ask on SPX. Never say never lol! Today I slapped that ask, filled mid, filled bid. Waited for a quick pullback on the 1 min after that HUGE candle post ISM numbers. Done for the day.
For all you using the 8/21 strategy who trade on the 5 minute time frame, here is an EXCELLENT video from
@mandertrades
@DiamondxTrades
This is really good!
Friendly reminder. Study hard, learn this stuff and go out and kill it on your own. ZERO pump & dumps. No relying on twitter "furus" for your money. In fact, no relying on social media at all. Freedom!
I see too many day traders rely on Fintwit crystal balls only to see their accounts blown. My late father used to say, "Wish in one hand and shit in the other". Try turning Fintwit off during trading hours and play what's in front of you. Charts don't lie.
Hmmm...experimenting with
@unusual_whales
Max Pain (where max # of contracts expire worthless). $NVDA MP for 1/21 expiry is 231.25 which also correlates with that being support on daily AND a gap fill. Let's see how this rides out, but I like it!
I have received a lot of questions on Heikin Ashi candles. This is a great 11 minute video. It's worth your time to learn how to read them if you are considering using them. ๐
@TheRealNasa00
When I started this journey I asked God to please send an angel to guide me and help me prosper. He sent a damn FROG. But that frog has been a ribbiting blessing to me, my family and our lives. โค๏ธ๐โค๏ธ
Stocks trend approx 30% of the time and consolidate/range trade 70% of the time. Here is a great write up illustrating how to successfully trade those range days.
TY
@_NurseG_
for sharing! โค๏ธ