Repaints AGAIG Do You Pay Yourself Every Friday In ThinkOrSwim?

[rnephosCloudMam]

I just wanted to jump in and tell you how much I am enjoying AGAIG. I've taken a week or so to dig into the code to understand all of the different indicators that you have in AGAIG. I can see why you are looking for multiple indicators to confirm direction and I love the broad spectrum the indicators cover. I've been day trading this past week with your 5 contracts trade size & don't be afraid to cash small winners. I am averaging over $1000/day making 3-5 trades on a small account. Thanks for sharing.

 

[csricksdds]

I just wanted to jump in and tell you how much I am enjoying AGAIG. I've taken a week or so to dig into the code to understand all of the different indicators that you have in AGAIG. I can see why you are looking for multiple indicators to confirm direction and I love the broad spectrum the indicators cover. I've been day trading this past week with your 5 contracts trade size & don't be afraid to cash small winners. I am averaging over $1000/day making 3-5 trades on a small account. Thanks for sharing.

That's wonderful and I appreciate the feedback (of course I'm a little biased but I try nearly every indicator on UTS and think mine are some of the best)

 

[rnephosCloudMam]

Ha, Ha. For me ... the best selling point was your comment of 3 computers but 1 brain cell. I'm just now retired and you have become my hero for what I can look forward to. An active mind is a healthy mind.

 

[csricksdds]

Ha, Ha. For me ... the best selling point was your comment of 3 computers but 1 brain cell. I'm just now retired and you have become my hero for what I can look forward to. An active mind is a healthy mind.

It's still somewhat active? (the one brain cell that is....)

 

[rnephosCloudMam]

That's wonderful and I appreciate the feedback (of course I'm a little biased but I try nearly every indicator on UTS and think mine are some of the best)

One more quick question ... I've notice that it is fairly easy for me to hit the $1000/day mark in the morning. However, if I what to stay longer (supposedly to make more), I get bit. Have to work very hard to get back out breakeven. Are you using the discipline of "hitting your mark" and then take off the rest of the day? Any suggestions would be helpful

 

[csricksdds]

One more quick question ... I've notice that it is fairly easy for me to hit the $1000/day mark in the morning. However, if I what to stay longer (supposedly to make more), I get bit. Have to work very hard to get back out breakeven. Are you using the discipline of "hitting your mark" and then take off the rest of the day? Any suggestions would be helpful

Take your thousand and run!! I have been in that situation many times (like today up 1600 and now down more than I would like...hopefully back up where I want to be after 2:00 p.m.??

 

[useThinkScript]

One more quick question ... I've notice that it is fairly easy for me to hit the $1000/day mark in the morning. However, if I what to stay longer (supposedly to make more), I get bit. Have to work very hard to get back out breakeven. Are you using the discipline of "hitting your mark" and then take off the rest of the day? Any suggestions would be helpful

At the start and end of the trading day, volume surges as institutions and traders execute large orders. This movement fuels price action and provides clear trends, leading to the best opportunities for daytrades.

Midday trading (10:30 AM–2:30 PM) often lacks this volume and momentum; leading to choppy, unpredictable price swings.

While retail traders occasionally create a midday bump, significant midday trades usually occur only when an external catalyst disrupts the pattern.

 

[antwerks]

ATR vs DTR

mod note:
@rnephosCloudMam
By comparing DTR to ATR, you can gauge how much more room there is for a stock to run.
read more: https://usethinkscript.com/threads/dtr-vs-atr-indicator-for-thinkorswim.387/

 

[rnephosCloudMam]

Take your thousand and run!! I have been in that situation many times (like today up 1600 and now down more than I would like...hopefully back up where I want to be after 2:00 p.m.??

Hoe you made it back up. I did eventually. Closed out this week with $6111.21 more cash than I started. I think I'm going to like this "work until I pay myself" and then take the rest of the day off.

Day Trading is obviously micro focused. How much do you spend time on the macros of the market (ie. 50/100 day mov avg)?

 

[csricksdds]

Hoe you made it back up. I did eventually. Closed out this week with $6111.21 more cash than I started. I think I'm going to like this "work until I pay myself" and then take the rest of the day off.

Day Trading is obviously micro focused. How much do you spend time on the macros of the market (ie. 50/100 day mov avg)?

Yes I made it up but don’t spend time on the 50/100 as I’m just trading the ups/downs of the day (indicator driven)

 

[rnephosCloudMam]

Yes I made it up but don’t spend time on the 50/100 as I’m just trading the ups/downs of the day (indicator driven)

I’ve had a down week this week. Seems everything I chose moved against me. I’ve been down before so I’m not discouraged but I am wondering if you have any tips on when you know the trade is going wrong and you should get out.

 

[csricksdds]

I’ve had a down week this week. Seems everything I chose moved against me. I’ve been down before so I’m not discouraged but I am wondering if you have any tips on when you know the trade is going wrong and you should get out.

There are several things I do depending on the trade. I might sell some further out calls/puts against my long trade and then buy them back for less. I might turn a debit spread into a credit spread and then close it for less of a loss. The main thing is to take smaller profits when available and limit losses as much as you can?

 

[rnephosCloudMam]

There are several things I do depending on the trade. I might sell some further out calls/puts against my long trade and then buy them back for less. I might turn a debit spread into a credit spread and then close it for less of a loss. The main thing is to take smaller profits when available and limit losses as much as you can?

I'm sorry. My question wasn't clear. The techniques you mention to manage a loss I use so I am aware of that. I guess my question was, when do you know that you have a loss that isn't just a temporary glitch in the price. I know you look for multiple indicator confirmation to get in ... do you do the same to get out? Are there ones that are more meaningful for that?

 

[csricksdds]

I'm sorry. My question wasn't clear. The techniques you mention to manage a loss I use so I am aware of that. I guess my question was, when do you know that you have a loss that isn't just a temporary glitch in the price. I know you look for multiple indicator confirmation to get in ... do you do the same to get out? Are there ones that are more meaningful for that?

Multiple in/multiple out, but quicker out for a loss although I sometimes have the disease of exititis too soon?

 

[rad14733]

Multiple in/multiple out, but quicker out for a loss although I sometimes have the disease of exititis too soon?

Nobody ever went broke exiting a trade before all profit is lost...

 

[csricksdds]

Nobody ever went broke exiting a trade before all profit is lost...

 

[rnephosCloudMam]

Multiple in/multiple out, but quicker out for a loss although I sometimes have the disease of exititis too soon?

Ha, ha! Well my disease is exititis too late. My natural tendency is to believe too much in my original analysis. I'm still trying to simply trade the system. It is the system that gives me the edge. Once I am outside the system ... I'm gambling rather than trading.

 

[csricksdds]

Nobody ever went broke exiting a trade before all profit is lost...

Probably true!

 

[csricksdds]

Ha, ha! Well my disease is exititis too late. My natural tendency is to believe too much in my original analysis. I'm still trying to simply trade the system. It is the system that gives me the edge. Once I am outside the system ... I'm gambling rather than trading.

I have done that as well....

 

[newbie96]

Where is the script for this?
AGAIG Visual Options Trading Chart for ThinkOrSwim
I cant find it. Thanks,