Trust The Levels - Trade Options In ThinkOrSwim

[Drum Rocker]

The support and resistance lines are drawn manually. Can you provide some of your trades so I may review them. I have some losses but very few with this strategy.

Hi Metal, Thanks for the reply. The trades were a few weeks ago and I wish I would have taken a screen grab. I am going to try again after watching your recent YouTube videos and will capture them. Thanks for helping out!

 

[TOSTrader]

At Metal, still trying to understand because to me it seems that your entries are driven by your manual trendlines vs the actual indicator. Using this example chart below, would you have entered a short at position 1 or would you have waited until position 2 to enter?

 

[METAL]

At Metal, still trying to understand because to me it seems that your entries are driven by your manual trendlines vs the actual indicator. Using this example chart below, would you have entered a short at position 1 or would you have waited until position 2 to enter?

View attachment 22151

I do use the S/R levels to help with the direction of my entries. If I have a Resistance Level just above the LRC, then I will wait until I am over the R level If I intend to enter calls. I also use the LRC as a scale out and take profit level. Both of these areas on AAPL would have been a no go for me as I know 218 and 215 have both been reversal zones. I use much more than R/S and LRC when I trade. I do like when the s/r and LRC line up. I usually get a really good move when this happens. I have also implemented what I call a "Long LRC". It has been amazing for providing me with potential directional setups. Sometimes, My r/s levels keep me from catching bigger moves but I am okay with that. Actually, after looking closer, I would have taken the 1st one and scaled out or taken all profit at the 215 level! (I initially thought you were thinking of calls on #1)

 

[graci117]

Friday was another great day. Super clean trades. Had 5 trades and all were GREEN!
TSM:
View attachment 22063


ARM:
View attachment 22064

Thanks so much for the videos and sharing the strategies.
I loaded the chart on my TOS and am confused about the different regression channels even if the anchor is at the same time. Do you know why the channel slopes are so different with different indicators?
I also wanted to know as to about how much money approx. do you put on each trade.
Thanks so much again!!

 

[Apperformance]

Hey folks, I recently switched to Schwab from IBRK (100% happier btw) and found this thread by a happy accident. These linear regression lines are a+. I’m very visual person and this help with price action confluence on entry/exit. Great trading today with this group today. Recommend

 

[ElGanadero]

@METAL Just wanted to ask you a question but, before I do I wanted to thank you for your great play by play updates! I been keeping up with it and it looks really good!

Is everything up to date on your 1st page as far as the indicator scripts? Or have they been updated?

 

[METAL]

Thanks so much for the videos and sharing the strategies.
I loaded the chart on my TOS and am confused about the different regression channels even if the anchor is at the same time. Do you know why the channel slopes are so different with different indicators?
I also wanted to know as to about how much money approx. do you put on each trade.
Thanks so much again!!

I use the LRC_V2 version. https://tos.mx/!bRJfYOTJ . It depends on the price of the contracts. I typically try to be 2,000.00 and up. If I get an A+ setup along with all other variables, I will go heavier.

 

[METAL]

@METAL Just wanted to ask you a question but, before I do I wanted to thank you for your great play by play updates! I been keeping up with it and it looks really good!

Is everything up to date on your 1st page as far as the indicator scripts? Or have they been updated?

Yes. Everything is up to date. I use the LRC_V2 version on a 2 m TF. https://tos.mx/!bRJfYOTJ

 

[METAL]

Hope everyone had a great day trading. The price action was rough for the first part of the day, for me at least.
Todays Trades:
A loss with ARM-

TSM-

SPX-

 

[Drum Rocker]

Hope everyone had a great day trading. The price action was rough for the first part of the day, for me at least.
Todays Trades:
A loss with ARM-
View attachment 22221
TSM-
View attachment 22222
SPX-
View attachment 22223

You got that right! The morning was a complete mess with market internals conflicting, the DJIA down, and NASDAQ up. I had two losing trades in the morning and stopped. Came back in the afternoon and was able to get back to even. There will be days like these!

 

[HODL-Lay-HE-hoo!]

@METAL doing the damn thing... good work.

 

[ElGanadero]

Yes. Everything is up to date. I use the LRC_V2 version on a 2 m TF. https://tos.mx/!bRJfYOTJ

I appreciate the response! I'm running it now will update next week when I run it live with some funny money I got. I'll keep tracking your progress solid work @METAL.

 

[METAL]

Well....I recorded my day of trading so I can show how I trade the LRC strategy.
I recorded my Day Trading Options logo the entire time. I forgot to change my scenes in OBS. I will attempt to record again tomorrow. I did profit

with 3 trades. PANW, TSLA and SPX

 

[useThinkScript]

DING DING DING

This chart setup has climbed up to be in the TOP25 most viewed setups of all time!
https://usethinkscript.com/forums/strategies-chart-setups.5/?order=view_count&direction=desc


Congratulations @METAL! For the excellent support and commentary provided in this thread!

 

[Adobe8]

@METAL
Pls share workspace
The one with the active trader

 

[METAL]

@METAL
Pls share workspace
The one with the active trader

Workspace: https://tos.mx/!niiF8VvV

 

[METAL]

Hope everyone had a great day today!
Trades today! Guys, This is so good. So easy! $1,653.00 day today! No losses!

TSM:

SPX:

AMD:

 

[METAL]

Video of the trades today.

 

[METAL]

Done for the day. I had one $11.00 loss and that was all. The rest were all profit for $1,808.00. This strategy is really the game changer for me. I hope it is working for others.

TSLA:

AAPL:

SPX:

TSM:

 

[METAL]

Fridays Trades were pretty clean. Once again, I hope you guys will try this strategy.
AMZN:

SMH:

SPX: