Repaints AGAIG DayTrading - Scalping For Success In ThinkOrSwim

[investqwest]

AGAIG As Good As It Gets DAY TRADING – SCALPING FOR SUCCESS​

So, what is the best way to Day Trade? How do I Day Trade? What stocks (ETFs) are picked, and why do I pick them? How do I know when to enter and/or exit?

The old song “knowing when to hold them, knowing when to fold them, knowing when to walk away and knowing when to run” fits well for an options' day trader!

First of all let’s look at what to trade. I quit trading (for the most part) 0DTE (zero days until expiration) although I have done well with these during my foregone more alert days. Sometimes I will trade the ODE SPY, but not as much as I used to. Too many others work better with less stress and give more flexibility?

I want stocks that:

• move more than five points (ATR) per day (based on a 9 period look back).
• Entries/Exits will be taken when the “intraday” has moved 1.75 - 2.0 of its daily intraday ATR (Intraday Average True Range).
• I mostly trade five contracts at a time.
• This will frequently give me 2-3 trades on the same stock each day.

ATR gives the average movement of the security on a daily, weekly, or monthly basis, but we’re trading intraday and can expect multiple up and down movements within that range during the day with a possible ORB (Opening 15-30 minute Breakout) to the upside or downside.

An added comment if I may: It has been my experience that most stocks close at the edges or within the ORB (15-30 minute Opening Range Breakout). When trading into closing I take this into consideration. I also notice that stocks tend to move towards the VWAP (Volume Weighted Average Price) which to me represents home-base for a security (a frequent area of resistance). I also stated that I trade Friday’s Expirations Monday thru Wednesday and then begin trading the next week out. I actually start the next week out at Wednesday between Noon and 1:00 p.m.


MAJOR KEY POINT: When using my charting similar to the AGAIG Visual Options Trading Chart
https://usethinkscript.com/threads/agaig-visual-options-trading-chart-for-thinkorswim.19840/
I’m using the Long/Short Bubbles and Lower Squared Histograms for entry/exits after looking back 2-3 days to see what the average intraday movement (AIM) has been and use that average for expected intraday movement.

I have found it best for intraday trading:

• to only trade the same 2-4 stocks over and over
• using 5-10 days expiration for my intraday trades.

I quit screening a long time ago since most stocks are basically making the same movements over and over. To me screening is a waste of time especially for intraday trading. I also like to start and end the day with cash positions.

Some approximate Stats using average intraday movements on some of the ones I Day (Scalp) Trade: (2-day intraday average movements) are as follows:

SNOW: 10 Entry/Exit Bubbles with average 5.92 intraday moves including end of day exits. ATM trades = 5.92 X .5 X 100 = $2.96 potential per trade X 3 trades/day = $888 profit daily. I place GTC Exits at .75% of expected move, watch for turning points, and expect profit of approx. $600 - $1,000+ Daily.

VST: 14 Entry/Exit Bubbles including EOD (End of Day) exits with average 2.5 intraday moves. ATM trades = $125 potential on 5 contracts. 3 Trades/day = $375 or more easy profit per day.

The other two I watched on Friday last was AVGO and MSFT.

I’ll let you figure out the intraday averages for your favorite trades. Honesty is a good practice and my goal is $2K+ per day and Friday last easily eclipsed that amount and I was away half the day!!).

My trading setup used to have six (or more) monitors and now only use three monitors (two with double charts with the one in the middle having only the options trading chain. I have two stocks showing that I trade for the day on the right monitor with the other two stocks on the left monitor that might be traded if showing clear entry or exit signals?

My trades are usually just ITM (In-the-Money)so there is a little intrinsic value to start. I trade Friday’s expirations Monday - Wednesday and then the next week's beginning Thursday. Some of my favorite stocks are SNOW, VST, AVGO and MSFT and usually place a GTC of .75 - 1.00 per contract on these. My goal is to be in cash at the beginning of the day and back into cash at end of day although occasionally I will have to hold overnight which leaves me a few days grace if needed.

Bottom line you only need 2-4 stocks for day trading, know the average intraday moves, relax and don’t be greedy. You never lose money when you take a profit. Taking profit on half the expected movement increases the odds greatly.

I know traders who exit trades at 10-12% profit, others at 2-25% profit whereas I’m looking for 50 cents – 1.00 per contract profit. Your risk determines you toleration to profit/loss.

Greed (trading options) is usually inversely proportional to one’s expectations?

My pre-trading (daily) routine: Twenty minutes on our “stationary” bike (approximately 2.5 miles) always wearing a helmet in case I get hit by a stationary car!

Happy day trading!

@csricksdds
Is it possible to get "AsGoodAsItGets_LowerSquaredHistogram1" as a watchlist column code instead of study code?

 

[TOS Cali]

Using the dual charting from AGAIG, I modified by adding some of my favorites
(Fractals and DTE ADX) Combining these 4 to 5 signals to validate and make trades -
They are spot on - Thanks

shared chart link: https://tos.mx/!Fbvsy3gw
MUST follow these instructions for loading shared links.
View attachment 24022

hi @antwerks are you still using this setup or modify it in any way for better entry and exits? i've been using your chart and @csricksdds AGAIG (do you pay yourself friday chart) thanks so much! appreciate you marking up the chart to show your work/thought process

 

[optionssaj]

Hello @csricksdds

Been using your AGAIG for a couple months and havent had a losing week. I’m getting great entries using the lower squared histogram but I need to work on my exits as im only catching like 2% profit. Should i wait for a red light on the lower squared histogram before I sell?

Started using this system today, but I have been a victim of repaint What instrument are you seeing your success with and what time frame are you using?

 

[optionssaj]

Using the dual charting from AGAIG, I modified by adding some of my favorites
(Fractals and DTE ADX) Combining these 4 to 5 signals to validate and make trades -
They are spot on - Thanks

shared chart link: https://tos.mx/!Fbvsy3gw
MUST follow these instructions for loading shared links.
View attachment 24022

I noticed you are not using any of the arrows. Are they not useful? I think they are called "Profit Maximizer".

 

[antwerks]

I noticed you are not using any of the arrows. Are they not useful? I think they are called "Profit Maximizer".

Already alot going on and those were not as successful in backtesting as the others

 

[rene6985]

Its beautifull in the chart but the truth is , it gives you false signal. I traded this , for example the text go short, and you are short , you are watching when it will go long, and stop your trade. And then the text appear to go long, and you come out your trade and then the text for long dissapear meaning short again, if keep doing that back and forth. And in the end it will print its final , long and short, and you look at the chart, seems this script is perfect but it is not, because before it print that final , long and short text , many trade already happened.

 

[useThinkScript]

Its beautifull in the chart but the truth is , it gives you false signal. I traded this ,

You are correct in your description.
But that would be the wrong application of the AGAIG Trading Setups.
In all the AGAIG chart setups, @csricksdds emphasizes that those repainted signals can not be used alone for entry and exit.

@rene6985
If you read nothing else today, read this:
https://usethinkscript.com/threads/agaig-the-trading-path-chart-for-thinkorswim.18961/#post-142899

It provides a concise explanation as to the importance of:

• never blindly following a random arrow/trigger that shows up on your chart.
• utilizing support & resistance.
• looking for confirmation from your other indicators.
• more importantly, understand the concepts that are being used in this and the other AGAIG setups. Making sure that the overall chart is in support of that strategy.
• why repainters do not have to be considered "inherently bad". When used along with non-repainters and with strong risk-management.

This is a read for every active retail trader.
If you have not seen the other As Good As It Gets Chart Setups;
Here they are, sorted by popularity:
https://usethinkscript.com/search/1...1&c[nodes][0]=5&c[title_only]=1&o=replies&g=1

The AGAIG setups are some of the most popular trading setups on the forum because they provide easy-to-follow tutorials on the IMPORTANCE OF TECHNICAL CHART ANALYSIS in totality.

You need to read through each setup and follow along. But here is a summary of what to look for on your chart before making entry.
https://usethinkscript.com/threads/...ses-repaint-indicators-for-thinkorswim.20126/

 

[csricksdds]

You are correct in your description.
But that would be the wrong application of the AGAIG Trading Setups.
In all the AGAIG chart setups, @csricksdds emphasizes that those repainted signals can not be used alone for entry and exit.

The AGAIG setups are some of the most popular trading setups on the forum because they provide easy-to-follow tutorials on the IMPORTANCE OF TECHNICAL CHART ANALYSIS in totality.

You need to read through each setup and follow along. But here is a summary of what to look for on your chart before making entry.
https://usethinkscript.com/threads/...ses-repaint-indicators-for-thinkorswim.20126/

Thanks administrative team for you response to my charting! charles

 

[Torywilo]

I’ve been using similar setups and what helped me a lot was fine-tuning the entry signals based on volume spikes combined with candle patterns. It took me a bit to get the timing right. Also, if anyone’s looking to expand platforms for strategy testing, I tried one that gave me decent fills—found it through an axiom trade invite code someone shared in another forum.

 

[williamclarks]

In live trading you enter when it says “short,” then it suddenly flips to “long,” then back to “short,” making you exit trades early and re-enter multiple times. By the time the final signals appear on the chart, dozens of false signals have already happened. That’s why it seems flawless only when you look at the past data, but it’s unreliable during real trading.

 

[useThinkScript]

In live trading you enter when it says “short,” then it suddenly flips to “long,” then back to “short,” making you exit trades early and re-enter multiple times. By the time the final signals appear on the chart, dozens of false signals have already happened. That’s why it seems flawless only when you look at the past data, but it’s unreliable during real trading.

Yes, that is a common mistake.
Here are instructions for the proper method for taking entries based on the AGAIG setups.
https://usethinkscript.com/threads/...ing-with-thinkorswim.20844/page-5#post-155690

Once you understand, the steps to determining entry; you will find that the AGAIG threads provide easy-to-read setups designed to help you become a profitable trader.
https://usethinkscript.com/search/2280993/?q=AGAIG&c[title_only]=1&o=date

 

[csricksdds]

Yes, that is a common mistake.
Here are instructions for the proper method for taking entries based on the AGAIG setups.
https://usethinkscript.com/threads/...ing-with-thinkorswim.20844/page-5#post-155690

Once you understand, the steps to determining entry; you will find that the AGAIG threads provide easy-to-read setups designed to help you become a profitable trader.
https://usethinkscript.com/search/2280993/?q=AGAIG&c[title_only]=1&o=date

What time frame are you trading? I use a 10 min chart and find the changes in direction to work well for me. I have placed multiple trades today and am batting 100% using lowered expectations. I am trading MSTR, COIN, PLTR, MSFT, etc. and once I have a buy I am closing for .55 cents more than paid and finding my trading very successful?

 

[upincantiknya]

What time frame are you trading? I use a 10 min chart and find the changes in direction to work well for me. I have placed multiple trades today and am batting 100% using lowered expectations. I am trading MSTR, COIN, PLTR, MSFT, etc. and once I have a buy I am closing for .55 cents more than paid and finding my trading very successful?

Hello, I've been following your posts. I remember you mentioning that you use 5 minute as well, have you switched to 10minute timeframe now?

I also want to ask -- which tickers do you have on your watchlist and how do you identify which ticker symbol to trade for each day?

 

[csricksdds]

Hello, I've been following your posts. I remember you mentioning that you use 5 minute as well, have you switched to 10minute timeframe now?

I also want to ask -- which tickers do you have on your watchlist and how do you identify which ticker symbol to trade for each day?

I use a 10 minute time frame and am currently trading MSTR, COIN, MSFT, ALAB, SNOW and WDC. I don't scan or have a watchlist as these are enough for me and I'm batting 100% today as well but doing it very conservatively. I'm glad your trading is successful!

 

[picasso11205]

I use a 10 minute time frame and am currently trading MSTR, COIN, MSFT, ALAB, SNOW and WDC. I don't scan or have a watchlist as these are enough for me and I'm batting 100% today as well but doing it very conservatively. I'm glad your trading is successful!

I have been simulating the "rinse and repeat" strategy for the last few days. I am trying to implement carefully each of the suggested steps, including the .55 suggested take-profit order. It would have worked today on a put for HOOD in the PM although in the AM the AGAIG histogram/bubble had HOOD in a call position which would have resulted in a small profit of .15 or so before it flipped to a put position. Understanding that you don't have a watchlist or scan per se, how do you make the initial determination that the instrument is "trade-able" for "rinse and repeat" purposes? I tried HOOD as the result of a basic screener for large cap stocks with an ATR greater than 5 and volatility of 2pct or more for the week.

In addition, once you have entered a position do you exit if the AGAIG histogram/bubble flips to the opposite position before you have reached the profit target? Many thanks again for this excellent strategy and the tools which accompany it.

 

[merryDay]

I have been simulating the "rinse and repeat" strategy for the last few days. I am trying to implement carefully each of the suggested steps, including the .55 suggested take-profit order. It would have worked today on a put for HOOD in the PM although in the AM the AGAIG histogram/bubble had HOOD in a call position which would have resulted in a small profit of .15 or so before it flipped to a put position. Understanding that you don't have a watchlist or scan per se, how do you make the initial determination that the instrument is "trade-able" for "rinse and repeat" purposes? I tried HOOD as the result of a basic screener for large cap stocks with an ATR greater than 5 and volatility of 2pct or more for the week.

In addition, once you have entered a position do you exit if the AGAIG histogram/bubble flips to the opposite position before you have reached the profit target? Many thanks again for this excellent strategy and the tools which accompany it.

That is the problem with low liquidity days. Without volume, price movement will be erratic.
Even when it is not one of the lowest volume days of the year; the cleanest trades are always where there is the most volume. Opening Range and Power Hour.

 

[csricksdds]

I have been simulating the "rinse and repeat" strategy for the last few days. I am trying to implement carefully each of the suggested steps, including the .55 suggested take-profit order. It would have worked today on a put for HOOD in the PM although in the AM the AGAIG histogram/bubble had HOOD in a call position which would have resulted in a small profit of .15 or so before it flipped to a put position. Understanding that you don't have a watchlist or scan per se, how do you make the initial determination that the instrument is "trade-able" for "rinse and repeat" purposes? I tried HOOD as the result of a basic screener for large cap stocks with an ATR greater than 5 and volatility of 2pct or more for the week.

In addition, once you have entered a position do you exit if the AGAIG histogram/bubble flips to the opposite position before you have reached the profit target? Many thanks again for this excellent strategy and the tools which accompany it.

So HOOD shows an ATR (looking at Daily of 4.6). It's intraday movements will be within that number up/down two or three times during the day. I'm not sure which time frame you are using? I am using a 10 minute. Hood was looking short at the open which was overall for the market today. The first Long was at 10:50 at around 114.30 and rose to 115 before the next bubble. I only do the .55 GTC if normal movement is greater than 1 point or I usually go .25 - .35. The short after that went down for more than 2 points which would have made the .55 work. The market today overall was moving down and so I did not place any Calls myself but would have taken the profit available at the downturn. The stocks I had up for trading today were MSTR, COIN, MSFT, ALAB,SNOW and WDC. I don't screen since every stock moves up and down during the day. Remember that the indicators have the ability to repaint. To me any stock is tradeable that moves 5+ ATR points per day but I frequently lower my profit expectations in a choppy or down market. I was more careful today as I thought traders would be closing a lot of positions for year-end tax purposes or dropping under performers. Hopefully this strategy will work for you and that your wins will be much greater than your losses. It worked 100% of the time for me today.

 

[antwerks]

So HOOD shows an ATR (looking at Daily of 4.6). It's intraday movements will be within that number up/down two or three times during the day. I'm not sure which time frame you are using? I am using a 10 minute. Hood was looking short at the open which was overall for the market today. The first Long was at 10:50 at around 114.30 and rose to 115 before the next bubble. I only do the .55 GTC if normal movement is greater than 1 point or I usually go .25 - .35. The short after that went down for more than 2 points which would have made the .55 work. The market today overall was moving down and so I did not place any Calls myself but would have taken the profit available at the downturn. The stocks I had up for trading today were MSTR, COIN, MSFT, ALAB,SNOW and WDC. I don't screen since every stock moves up and down during the day. Remember that the indicators have the ability to repaint. To me any stock is tradeable that moves 5+ ATR points per day but I frequently lower my profit expectations in a choppy or down market. I was more careful today as I thought traders would be closing a lot of positions for year-end tax purposes or dropping under performers. Hopefully this strategy will work for you and that your wins will be much greater than your losses. It worked 100% of the time for me today.

awesome AGAIG is always very comparable to other VIP indicators which is why I like it - tons of validations

https://imgur.com/9iz0dFr

 

[csricksdds]

awesome AGAIG is always very comparable to other VIP indicators which is why I like it - tons of validations

https://imgur.com/9iz0dFr

Thanks - of course I am somewhat biased since my charting is easy on the eyes and easy to follow?

 

[antwerks]

Thanks - of course I am somewhat biased since my charting is easy on the eyes and easy to follow?

I did build a non-repainting version but it comes with some lag, but the signal is true and solid when given. Being a swing trader either one works fine, but as you move into intraday the repainting needs validation before believing it. As you guys always say never just use one.