AGAIG Do You Pay Yourself Every Friday In ThinkOrSwim?

[csricksdds]

Do you pay yourself a salary every Friday? If not, why not?​

How much would you like to earn from trading options? What about $500 per week? Or maybe $750, $1,000, or more? The question is: How much would you like to pay yourself every Friday (or maybe daily)? Once you have the answer you gear yourself to accomplish your goal.

Research tells us that only 5-10% of option traders make consistent money. Do you belong to that 5-10% of traders? Would you like to belong?

My first question is…how many trades do you have in place at one time? Or, to put it another way: “How many horses can you ride at one time”?

In my earlier days I frequently had 10 – 20 trades in place at one time. These were usually all single trades and so I learned how to lose money one trade at a time. I was a “gut” trader at the time and it’s easy to lose when the mind can’t absorb that many trades at one time. I’m older and hopefully a little smarter now?

My new model is to trade only three charts at one time using my AGAIG indicators placing five contracts on each stock ITM (In-The-Money) so as to have some intrinsic value at the start (intrinsic value is the value the stock price already has). You can trade these as a spread as well. It has been my experience that if you trade a $250 spread for approximately half the price (or less) of the spread you can make $24-$50/contract fairly rapidly. My three charts today are MSFT, AGAIG, and NVDA. MSFT and AGAIG have both paid $250 each and the day is not yet finished.

The goal is to enter the spread
9if used) for $1.25 - $1.35/contract and enter a GTC (Good Until Cancelled) for .25 - .50 cents more than you paid. My 5 contracts then quickly pay approximately $125 - $250 profit (usually fairly quickly when direction is right). My trades today were not spreads and so today was an easy $500 profit on MSFT and AGAIG and the day is not finished. I will usually place my first two trades of the day around 10:00 (or when two or more indicators agree) and then play them to exit and then not trade again until after 2:00 p.m. but only with clear entries and exit before the end of day if possible. A $500 spread takes longer and I find the $250 spread to work faster and more efficiently.

The bottom line is to set your goal, don’t be greedy, and enjoy your profits.

I used to scan thirty or forty stocks to find the good ones. Now I pick three for the day and trade the ups and downs of those. If you had only one, two, or three consistent trades per day…would that be AS GOOD AS IT GETS?

Happy New Year and may all your trades be profitable (and most will if you use good indicators wisely)!
read more about my chart here:
https://usethinkscript.com/threads/agaig-visual-options-trading-chart-for-thinkorswim.19840/

This is my grid link: http://tos.mx/!XFW9xBEv
This is what the three charts look like:

https://imgur.com/a/4bwgNdk

 

[mailbagman2000]

Do you pay yourself a salary every Friday? If not, why not?​

How much would you like to earn from trading options? What about $500 per week? Or maybe $750, $1,000, or more? The question is: How much would you like to pay yourself every Friday (or maybe daily)? Once you have the answer you gear yourself to accomplish your goal.

Research tells us that only 5-10% of option traders make consistent money. Do you belong to that 5-10% of traders? Would you like to belong?

My first question is…how many trades do you have in place at one time? Or, to put it another way: “How many horses can you ride at one time”?

In my earlier days I frequently had 10 – 20 trades in place at one time. These were usually all single trades and so I learned how to lose money one trade at a time. I was a “gut” trader at the time and it’s easy to lose when the mind can’t absorb that many trades at one time. I’m older and hopefully a little smarter now?

My new model is to trade only three charts at one time using my AGAIG indicators placing five contracts on each stock ITM (In-The-Money) so as to have some intrinsic value at the start (intrinsic value is the value the stock price already has). You can trade these as a spread as well. It has been my experience that if you trade a $250 spread for approximately half the price (or less) of the spread you can make $24-$50/contract fairly rapidly. My three charts today are MSFT, AGAIG, and NVDA. MSFT and AGAIG have both paid $250 each and the day is not yet finished.

The goal is to enter the spread
9if used) for $1.25 - $1.35/contract and enter a GTC (Good Until Cancelled) for .25 - .50 cents more than you paid. My 5 contracts then quickly pay approximately $125 - $250 profit (usually fairly quickly when direction is right). My trades today were not spreads and so today was an easy $500 profit on MSFT and AGAIG and the day is not finished. I will usually place my first two trades of the day around 10:00 (or when two or more indicators agree) and then play them to exit and then not trade again until after 2:00 p.m. but only with clear entries and exit before the end of day if possible. A $500 spread takes longer and I find the $250 spread to work faster and more efficiently.

The bottom line is to set your goal, don’t be greedy, and enjoy your profits.

I used to scan thirty or forty stocks to find the good ones. Now I pick three for the day and trade the ups and downs of those. If you had only one, two, or three consistent trades per day…would that be AS GOOD AS IT GETS?

Happy New Year and may all your trades be profitable (and most will if you use good indicators wisely)!
read more about my chart here:
https://usethinkscript.com/threads/agaig-visual-options-trading-chart-for-thinkorswim.19840/

This is my grid link: http://tos.mx/!XFW9xBEv
This is what the three charts look like:

https://imgur.com/a/4bwgNdk

Do you use the same3 stocks every day? If not how so you select the 3?

 

[csricksdds]

Do you use the same3 stocks every day? If not how so you select the 3?

Yes - pretty much. Any stock with good ATR and close bid/ask will work (I.e. TSLA, ENPH, NFLX, etc are good choices.

 

[davidbudhoo]

Do you pay yourself a salary every Friday? If not, why not?​

How much would you like to earn from trading options? What about $500 per week? Or maybe $750, $1,000, or more? The question is: How much would you like to pay yourself every Friday (or maybe daily)? Once you have the answer you gear yourself to accomplish your goal.

Research tells us that only 5-10% of option traders make consistent money. Do you belong to that 5-10% of traders? Would you like to belong?

My first question is…how many trades do you have in place at one time? Or, to put it another way: “How many horses can you ride at one time”?

In my earlier days I frequently had 10 – 20 trades in place at one time. These were usually all single trades and so I learned how to lose money one trade at a time. I was a “gut” trader at the time and it’s easy to lose when the mind can’t absorb that many trades at one time. I’m older and hopefully a little smarter now?

My new model is to trade only three charts at one time using my AGAIG indicators placing five contracts on each stock ITM (In-The-Money) so as to have some intrinsic value at the start (intrinsic value is the value the stock price already has). You can trade these as a spread as well. It has been my experience that if you trade a $250 spread for approximately half the price (or less) of the spread you can make $24-$50/contract fairly rapidly. My three charts today are MSFT, AGAIG, and NVDA. MSFT and AGAIG have both paid $250 each and the day is not yet finished.

The goal is to enter the spread
9if used) for $1.25 - $1.35/contract and enter a GTC (Good Until Cancelled) for .25 - .50 cents more than you paid. My 5 contracts then quickly pay approximately $125 - $250 profit (usually fairly quickly when direction is right). My trades today were not spreads and so today was an easy $500 profit on MSFT and AGAIG and the day is not finished. I will usually place my first two trades of the day around 10:00 (or when two or more indicators agree) and then play them to exit and then not trade again until after 2:00 p.m. but only with clear entries and exit before the end of day if possible. A $500 spread takes longer and I find the $250 spread to work faster and more efficiently.

The bottom line is to set your goal, don’t be greedy, and enjoy your profits.

I used to scan thirty or forty stocks to find the good ones. Now I pick three for the day and trade the ups and downs of those. If you had only one, two, or three consistent trades per day…would that be AS GOOD AS IT GETS?

Happy New Year and may all your trades be profitable (and most will if you use good indicators wisely)!
read more about my chart here:
https://usethinkscript.com/threads/agaig-visual-options-trading-chart-for-thinkorswim.19840/

This is my grid link: http://tos.mx/!XFW9xBEv
This is what the three charts look like:

https://imgur.com/a/4bwgNdk

Hey,

I know you probably hear it from all the think or swim members, but THANK YOU for making that script. I use it in combination with technical analysis and 9/16 EMA chart to time my exits. Once the tail of the candle wicks below the 16 EMA I'm out. I also wait until around 10am and trade when I see a long/short bubble, corresponding arrow signal and paint indicator to take my trade.

It would be great, if you offered a class about the best way to use your system as well as little tid bits you've picked up on your way. I wish I was smart like 90% of the people on this forum. I'm not familiar with programming so I can't come up with any of my own indicators.

Thanks AGAIN. You are AWESOME
David

 

[csricksdds]

Hey,

I know you probably hear it from all the think or swim members, but THANK YOU for making that script. I use it in combination with technical analysis and 9/16 EMA chart to time my exits. Once the tail of the candle wicks below the 16 EMA I'm out. I also wait until around 10am and trade when I see a long/short bubble, corresponding arrow signal and paint indicator to take my trade.

It would be great, if you offered a class about the best way to use your system as well as little tid bits you've picked up on your way. I wish I was smart like 90% of the people on this forum. I'm not familiar with programming so I can't come up with any of my own indicators.

Thanks AGAIN. You are AWESOME
David

Thanks for your kind commentary. I try to give information with my posts but you can ask anything you wish and I will try to answer and be as helpful as possible. Now I’ll go stick my finger in a glass of water and then withdraw it to see how awesome a path I left!

 

[rnephosCloudMam]

On your occasional losses, do you use a set percentage or whenever your indicator goes to stop?

 

[csricksdds]

On your occasional losses, do you use a set percentage or whenever your indicator goes to stop?

I just sit here and watch and get out as close to ITM with profit as possible...trading the way I do I don't have a lot of losses since I'm profit oriented - my in/out on MSFT is over 2K today and it hasn't been big trades to get there?

 

[rnephosCloudMam]

When do you get back in? Do you wait for some pull back? Do you take the short side after it turns to RED light (with multi-time frame confirmation and arrows)?

 

[csricksdds]

When do you get back in? Do you wait for some pull back? Do you take the short side after it turns to RED light (with multi-time frame confirmation and arrows)?

If I get out a long position on a RED isn't that also an entry point for a short?

 

[enjoy2retire`]

Thanks for your kind commentary. I try to give information with my posts but you can ask anything you wish and I will try to answer and be as helpful as possible. Now I’ll go stick my finger in a glass of water and then withdraw it to see how awesome a path I left!

If I understand correctly, you prefer to buy call or puts depending on the short/long bubbles and best to coincide with the histogram. And you prefer to enter ITM strikes. May I asked what is the DTE you used? 0dte or weekly DTE? Or every Fri expiration DTE? Thanks.

 

[csricksdds]

If I understand correctly, you prefer to buy call or puts depending on the short/long bubbles and best to coincide with the histogram. And you prefer to enter ITM strikes. May I asked what is the DTE you used? 0dte or weekly DTE? Or every Fri expiration DTE? Thanks.

Weekly expirations through Wednesday noon and then the next weekly Wednesday noon through Friday and trey to be all cash at end of each day especially on Friday.

 

[enjoy2retire`]

Weekly expirations through Wednesday noon and then the next weekly Wednesday noon through Friday and trey to be all cash at end of each day especially on Friday.

Thank you for explaining

 

[csricksdds]

 

[enjoy2retire`]

Sorry one more.question, I was reading the other thread on using VIP big mover scan which also means has good ATR, does that mean we do not need to calculate the bubbles of the short and long? Tks

 

[csricksdds]

Sorry one more.question, I was reading the other thread on using VIP big mover scan which also means has good ATR, does that mean we do not need to calculate the bubbles of the short and long? Tks

Good ATR means it has good movement (range) during the day (I want at least 5+ or more with good volatility). I’m interested in “intraday” movement within the ATR (up and down movement) and since all stocks move up and down I just want 2-4 that are active everyday. I don’t understand why I need to screen anything else? Some good traders trade one stock (ETF) every day whereas I limit myself to 2-4. If I only traded one it could be MSFT or VST or any with good intraday movement and close bid/ask. To me scanning is a waste of my time and is a distraction that isn’t necessary for what I’m doing.

 

[enjoy2retire`]

Good ATR means it has good movement (range) during the day (I want at least 5+ or more with good volatility). I’m interested in “intraday” movement within the ATR (up and down movement) and since all stocks move up and down I just want 2-4 that are active everyday. I don’t understand why I need to screen anything else? Some good traders trade one stock (ETF) every day whereas I limit myself to 2-4. If I only traded one it could be MSFT or VST or any with good intraday movement and close bid/ask. To me scanning is a waste of my time and is a distraction that isn’t necessary for what I’m doing.

Thank you for explaining. How often do you stick to the 2 to 4 stocks before you changed? I am still trying to understand how you calculate by using the short and long bubbles distance. Do we take the closing or opening price? Tks again for teaching a newbie like me...

 

[csricksdds]

Thank you for explaining. How often do you stick to the 2 to 4 stocks before you changed? I am still trying to understand how you calculate by using the short and long bubbles distance. Do we take the closing or opening price? Tks again for teaching a newbie like me...

There are many good stocks to trade from. I used to trade SPY all day at 0DTE but went to others with weekly expirations. When you trade the same 2-4 you get used to their characteristics. Look back a day or two and see how many up/downs and the usual turnaround distance traveled. Enter when you get both a bubble and horizontal or other major turnaround like the Murrey Math Pivots. There are many stocks that fit my trading style but why have so many up at once...take a look at LULU, VST, MSFT, UNH, AVGO to name a few they all go through the same iterations. Take shorter profits...it's not what you leave on the table that counts...it's what you put in your pocket. There is no holy grail. There is no 100% success rate (those are the liars) but you can get very good if you're patient and lower your profit expectations?

 

[enjoy2retire`]

There are many good stocks to trade from. I used to trade SPY all day at 0DTE but went to others with weekly expirations. When you trade the same 2-4 you get used to their characteristics. Look back a day or two and see how many up/downs and the usual turnaround distance traveled. Enter when you get both a bubble and horizontal or other major turnaround like the Murrey Math Pivots. There are many stocks that fit my trading style but why have so many up at once...take a look at LULU, VST, MSFT, UNH, AVGO to name a few they all go through the same iterations. Take shorter profits...it's not what you leave on the table that counts...it's what you put in your pocket. There is no holy grail. There is no 100% success rate (those are the liars) but you can get very good if you're patient and lower your profit expectations?

Thank you!

 

[csricksdds]

Thank you!

 

[useThinkScript]

Sorry one more.question, I was reading the other thread on using VIP big mover scan which also means has good ATR, does that mean we do not need to calculate the bubbles of the short and long? Tks

Agree 100% w/ @csricksdds. Spending your time scanning each day takes away from your trading time.

But if you have not yet built your small corral of stocks to trade.
Here are the stocks that best pair with @csricksdds AGAIG chart setups:
https://usethinkscript.com/threads/identify-the-big-movers.20100/#post-150094