SPX Trading Strategy for ThinkorSwim

[babouin77]

out 3944.75 for a loss (es)

 

[Arkitekt]

Thanks. Quick 2 point gain on the 3945P. Entry: 13.50. Exit: 15.50. Nice! As always, thanks for the great work to you and @barbaros!

Nice trade! I didn't feel good about the setup this morning so stayed out. Glad someone was able to make some green!

 

[mdv]

When I enable the "non-SPX" switch and use on other symbols I can get warning signals to trigger but no Buy or Sell signals (and hence no win rate statistics). I've scanned most of these posts for this issue but my problem seems unique. Has anyone had this problem as well and offer up guidance? Much Thanks.

 

[babouin77]

went short 3940.75
(ES)

 

[babouin77]

went short 3940.75
(ES)

stopped 3945.5

 

[Buck]

It is a good strategy...It all comes down to being patient.. using this, I m not feeling rushed,FOMO, or have anxiety, to either wait for a set up or to enter a trade.. Its about training a muscle to wait for a trade (UP/DOWN) before it shoots like a rocket...and it does..


@Buck Dont put others down for sharing their knowledge, if you cant appreciate it.. I havent shared any setup because I am not experienced enough but I will share my experience once I know I can hep others and I Will..

I am not putting anyone down, if that's the way I came across I do apologize. I had really good success with the strategy, but lately when I patiently take the same exact setup I get stopped out. I am not doing anything different so I was curious as to whether the strategy is in a slump or if it just doesn't work anymore.

 

[Buck]

20 win opportunities with 4 misses since February 16th is hardly a losing strategy. And feel free to read back through these 45 pages to see all the high fives and thank you's this setup gets....as well as many people making it easier for signals to populate.

I am not putting anyone down, if that's the way I came across I do apologize. I had really good success with the strategy, but lately when I patiently take the same exact setup I get stopped out. I am not doing anything different so I was curious as to whether the strategy is in a slump or if it just doesn't work anymore.

 

[Hypoluxa]

I am not putting anyone down, if that's the way I came across I do apologize. I had really good success with the strategy, but lately when I patiently take the same exact setup I get stopped out. I am not doing anything different so I was curious as to whether the strategy is in a slump or if it just doesn't work anymore.

If you're getting stopped out....that's not a flaw with the setup. Try watching premiums from time to time to see how much they fluctuate, I finally had to do that as well....a while back. Once the signal is hit, the underlying price still has a tendency to reverse some....so try setting a buy limit on your strike price and if you already are doing doing that...then try setting it lower. My experience with SPX is that the premiums tend to come down between .50 to $1 once you get a signal.
Monitor that and hopefully your losses will stop or at least decrease.

 

[rfb]

If you're getting stopped out....that's not a flaw with the setup. Try watching premiums from time to time to see how much they fluctuate, I finally had to do that as well....a while back. Once the signal is hit, the underlying price still has a tendency to reverse some....so try setting a buy limit on your strike price and if you already are doing doing that...then try setting it lower. My experience with SPX is that the premiums tend to come down between .50 to $1 once you get a signal.
Monitor that and hopefully your losses will stop or at least decrease.

Agree on all. A bit of learning and feel as one adjusts to their own particular trading style and tolerances. Great short signal today at 1420 EDT, which I missed, , but it was definitely there for a great trade!! Hope some of you caught it!

 

[Hypoluxa]

Agree on all. A bit of learning and feel as one adjusts to their own particular trading style and tolerances. Great short signal today at 1420 EDT, which I missed, , but it was definitely there for a great trade!! Hope some of you caught it!

I wasn't watching it since it was trying to climb up. Then in a flash it dropped $13 and kept going. I saw a premium go from $10 to $21...I wasn't going to chase since I never have luck doing that....but that luck would've finally paid off today!
Sidenote - it blew past the 1st target for GANN...took all day, but it finally happened. And has crushed camarilla all day too.

 

[rfb]

I wasn't watching it since it was trying to climb up. Then in a flash it dropped $13 and kept going. I saw a premium go from $10 to $21...I wasn't going to chase since I never have luck doing that....but that luck would've finally paid off today!
Sidenote - it blew past the 1st target for GANN...took all day, but it finally happened. And has crushed camarilla all day too.

Yep...I was having a late lunch and came back and the "flash drop" started already. Unreal. Didn't want to chase as well! Good to know on the GANN and Camarilla points too. Thanks!

 

[barbaros]

When I enable the "non-SPX" switch and use on other symbols I can get warning signals to trigger but no Buy or Sell signals (and hence no win rate statistics). I've scanned most of these posts for this issue but my problem seems unique. Has anyone had this problem as well and offer up guidance? Much Thanks.

you need to adjust other parameters to match the stock and it's range

 

[barbaros]

Yep...I was having a late lunch and came back and the "flash drop" started already. Unreal. Didn't want to chase as well! Good to know on the GANN and Camarilla points too. Thanks!

The guy...ehem, powell...sold after his flash buy yesterday.

 

[VickyVJ]

If you're getting stopped out....that's not a flaw with the setup. Try watching premiums from time to time to see how much they fluctuate, I finally had to do that as well....a while back. Once the signal is hit, the underlying price still has a tendency to reverse some....so try setting a buy limit on your strike price and if you already are doing doing that...then try setting it lower. My experience with SPX is that the premiums tend to come down between .50 to $1 once you get a signal.
Monitor that and hopefully your losses will stop or at least decrease.

Hi Hypoluxa, while i love this strategy, i feel like i either cl or tp too fast these past few days. Any advice on how i could fine tune my exit ? Is there any signal confirmation i could use ? Or what could i watch out for before hitting the sell button?
Thanks in advance.

 

[VictusJogi]

Hi Hypoluxa, while i love this strategy, i feel like i either cl or tp too fast these past few days. Any advice on how i could fine tune my exit ? Is there any signal confirmation i could use ? Or what could i watch out for before hitting the sell button?
Thanks in advance.

Dont just rely on indicators, watch the price action..Its about training your eye and mind...This is how, i had to learn, alot of screen time for me (dont know about others (there are a lot smart people here not me)) draw S/R lines, watch previous High/Low and see how the price reacts on these levels

 

[rad14733]

@Buck and @everyone else: Today was an ugly day and virtually no strategies were proving successful... I am working on a new trading system and it wasn't really presenting any good entries and any weak entries that formed were soon proven inadequate for successful trades... There simply wasn't enough momentum in any direction for extended periods of time for anything but paltry profits - if you got them before they disappeared... The market did more consolidating than anything today... Tomorrow is Quadruple Witching Friday so it could be just as bad or worse than today, unless we get lucky... Actually, most of this week was somewhat lackluster, leading up to tomorrow...

 

[Madhu]

Be cautious with this 9:40 MACDBB...its sitting on the line and not cleared yet....plus the 2nd candle came out shorter than the 1st one.

Hi Hypoluxa,

If enter into the trade after first dot, and if the second dot shows sideways, what would be the strategy you follow.

please answer this.

 

[rad14733]

Hi Hypoluxa,

If enter into the trade after first dot, and if the second dot shows sideways, what would be the strategy you follow.

please answer this.

Sideways would indicate a lack or loss of momentum... What you do is up to you... It would partially depend on the price action in combination with that momentum... You could wait to see if momentum improves or you could exit, whether at a profit or small loss... There is no magic answer as every trade is different... That being said, if there was enough momentum when you entered the trade, based on the angle of attack of the TS_MACD_BB line to the first dot, it would be unusual for that momentum to wane so quickly...

 

[VictusJogi]

Hi Hypoluxa,

If enter into the trade after first dot, and if the second dot shows sideways, what would be the strategy you follow.

please answer this.

You can wait to see what EMAs do....you can wait to see if there is a trend line break...you can either wait or get in the trade... @Hypoluxa has a specific strategy that he follows..If you read the first page, you will know what his plan is and how he follows it..

 

[Hypoluxa]

@Buck and @everyone else: Today was an ugly day and virtually no strategies were proving successful... I am working on a new trading system and it wasn't really presenting any good entries and any weak entries that formed were soon proven inadequate for successful trades... There simply wasn't enough momentum in any direction for extended periods of time for anything but paltry profits - if you got them before they disappeared... The market did more consolidating than anything today... Tomorrow is Quadruple Witching Friday so it could be just as bad or worse than today, unless we get lucky... Actually, most of this week was somewhat lackluster, leading up to tomorrow...

The 9:40 time I've spoke of here worked this morning again...tho quickly. And 2:10 was perfect.....some premiums doubled and tripled. The put at 12:50 and call at 1:50 were a bust. But there were opportunities today. Tomorrow is def going to be interesting.