SPX Trading Strategy for ThinkorSwim

[bhaskar_madugula]

y 3835? is it just the price when u did it?

Why did u enter 3835 and not open price? Do you wait 15 mins after market open?

 

[Noccm]

I've been paper trading with this strategy the last few days and it seems to work pretty well when I look at the trades after the fact. However, when I try to run it live, I usually set a 10%-15% stop loss (For example, if I buy a couple of contracts for $5000 then my stop loss is set to trigger when I am down $550 on the trade) and I'm finding that it often dips low enough to trigger that before it really makes the overall desired move. Is anyone else running into this or do you run with looser stop losses?

 

[Hypoluxa]

Why did u enter 3835 and not open price? Do you wait 15 mins after market open?

I was just making conversation with @babouin77...I didn't mean to add to any confusion for you. Keep with the strategy here and you'll be fine.

 

[Hypoluxa]

I've been paper trading with this strategy the last few days and it seems to work pretty well when I look at the trades after the fact. However, when I try to run it live, I usually set a 10%-15% stop loss (For example, if I buy a couple of contracts for $5000 then my stop loss is set to trigger when I am down $550 on the trade) and I'm finding that it often dips low enough to trigger that before it really makes the overall desired move. Is anyone else running into this or do you run with looser stop losses?

I've never used a stop loss....I let my finger do the work when i feel its not coming back......BUT...I have since starting setting my buy limit lower to reduce losses. Try that in your paper trading and see how that works. Also, are you using TOS' paper trading function? If so, I've experienced that has being extremely slow to what's actually happening live. So instead, i will watch a premium when I'm "paper trading" to see how low it will go during a run and use that going forward.
SPX for example, once a signal has shown itself...the stock price will still reverse no matter what, even if only $2, $3 or $4 before it goes in the direction its actually going in....so I set my buy limit on the premium between $1-$2 less.
Hope this makes sense.

 

[Hypoluxa]

I hope someone here is making mega bank on this $60 SPX drop since the signal!

 

[Noccm]

I've never used a stop loss....I let my finger do the work when i feel its not coming back......BUT...I have since starting setting my buy limit lower to reduce losses. Try that in your paper trading and see how that works. Also, are you using TOS' paper trading function? If so, I've experienced that has being extremely slow to what's actually happening live. So instead, i will watch a premium when I'm "paper trading" to see how low it will go during a run and use that going forward.
SPX for example, once a signal has shown itself...the stock price will still reverse no matter what, even if only $2, $3 or $4 before it goes in the direction its actually going in....so I set my buy limit on the premium between $1-$2 less.
Hope this makes sense.

Yeah, I think I understand. You keep your losses down by trying to improve your buy in price by waiting for the Ask to drop to a lower limit. That makes a lot of sense for the way these SPX options seem to behave, thanks for the tip.

 

[Hypoluxa]

Yeah, I think I understand. You keep your losses down by trying to improve your buy in price by waiting for the Ask to drop to a lower limit. That makes a lot of sense for the way these SPX options seem to behave, thanks for the tip.

Spot on....that's exactly what I was trying to convey!

 

[babouin77]

SPX was at $3835 at12:10EST and the first red MACDBB dot appeared then too...right before the SMA cross over. I used it live for the first time today and made $831 in 3 mins on an AMZN put this morning.

very interesting. i will keep an eye on this when macdbb turns red to input numbers in gann calculator

 

[babouin77]

I've been paper trading with this strategy the last few days and it seems to work pretty well when I look at the trades after the fact. However, when I try to run it live, I usually set a 10%-15% stop loss (For example, if I buy a couple of contracts for $5000 then my stop loss is set to trigger when I am down $550 on the trade) and I'm finding that it often dips low enough to trigger that before it really makes the overall desired move. Is anyone else running into this or do you run with looser stop losses?

the strategy has its own stop when macd turns or when atr is met...

 

[babouin77]

I hope someone here is making mega bank on this $60 SPX drop since the signal!

oh man... i wish

 

[slrank82]

@Noccm I ran into that earlier..no stop loss but went quickly down $200. I am going to run a separate 2 min chart and see if I can work on the entry within a 10 min candle. @Hypoluxa haha I cut way to early. Made a few hundred, could have made a few thousand. Got in around 1k, contract ran up to 4k. All in due time. Few hundred richer than I was : )

 

[babouin77]

SPX was at $3835 at12:10EST and the first red MACDBB dot appeared then too...right before the SMA cross over. I used it live for the first time today and made $831 in 3 mins on an AMZN put this morning.

when macdbb turned green i entered the price 3742 in the gann calculator... these recomendations came up:


for ES


Recommendation:
Buy at / above: 3751.56 Targets: 3765 - 3780.35 - 3795.74 - 3811.15
Stoploss : 3736.26
Sell at / below: 3736.26 Targets: 3722.86 - 3707.61 - 3692.4 - 3677.22
Stoploss : 3751.56

i have my sell limit at 3736
and buy limit at 3752

 

[barbaros]

True Momentum Oscillator is a fixture on all my charts, such a great tool!

How do you use the TMO? Can we integrate it into the strategy?

 

[Hypoluxa]

when macdbb turned green i entered the price 3742 in the gann calculator... these recomendations came up:


for ES


Recommendation:
Buy at / above: 3751.56 Targets: 3765 - 3780.35 - 3795.74 - 3811.15
Stoploss : 3736.26
Sell at / below: 3736.26 Targets: 3722.86 - 3707.61 - 3692.4 - 3677.22
Stoploss : 3751.56

i have my sell limit at 3736
and buy limit at 3752

 

[babouin77]

got filled on the buy limit 3752... stop loss 3736.25
Targets: 3765 - 3780.35 - 3795.74

https://imgur.com/a/3VTfQDg

 

[Hypoluxa]

when macdbb turned green i entered the price 3742 in the gann calculator... these recomendations came up:


for ES


Recommendation:
Buy at / above: 3751.56 Targets: 3765 - 3780.35 - 3795.74 - 3811.15
Stoploss : 3736.26
Sell at / below: 3736.26 Targets: 3722.86 - 3707.61 - 3692.4 - 3677.22
Stoploss : 3751.56

i have my sell limit at 3736
and buy limit at 3752

You're up $6 on SPX stock price so far!

 

[Hypoluxa]

got filled on the buy limit 3752... stop loss 3736.25
Targets: 3765 - 3780.35 - 3795.74

You're killing it! up $13 so far!

 

[babouin77]

You're killing it! up $13 so far!

maybe we need to start another thread for this not to confuse ppl with the spx strategy...

 

[Hypoluxa]

maybe we need to start another thread for this not to confuse ppl with the spx strategy...

there is one...but its for a GANN setup. I hope you sold high and didn't give any profits back!!

 

[babouin77]

there is one...but its for a GANN setup. I hope you sold high and didn't give any profits back!!

I did not... have the limits/and stops... still in it though