Trust The Levels - Trade Options In ThinkOrSwim

[METAL]

Hey everyone. I hope you are having a great weekend! If you are using this strategy, Please, when you have time, Let us know how it is working for you.

 

[sbtosrc]

No losses today. I had stopped trading when price action got "bad". I had around $1,500.00 on the day and di not want to risk it. I Got into a break of trend line with 6 SPX PUTS and sold as soon as it hit my L-LRC line for a $1,930.00 Profit. If I had held to the bottom, would have been $6,000.00
View attachment 22885
SPX Bonus
View attachment 22886

SPX
View attachment 22887

NVDA
View attachment 22888

TSLA-
View attachment 22889

Thanks for sharing your trading info on daily basis!! Are you using scans for your calls and puts watchlist? any possibility sharing scan info?

 

[bkpshah]

Another great day! As I have said many times before. This is a legit strategy. I hope you guys give it a try. It is the most consistent strategy I have ever used. You need to learn price action first as it is necessary to use this strategy as well as any strategy IMO. I made $1,050.00 Profit with a small loss of $245.00.

View attachment 22787
META-
View attachment 22788

Inverted Head and Shoulder on the 2m cart was a great trade as well.
View attachment 22789

Now I made consistent profit

I made consistent profit last two month I made almost 10500 dollar before I had loss 18000 now I am confident and I am sure I recover my loss and I would become profitable trader. I must follow strategies and stay disciplined

 

[METAL]

Thanks for sharing your trading info on daily basis!! Are you using scans for your calls and puts watchlist? any possibility sharing scan info?

I do not use any scans. I just watch the grids to see the setups at real time. I load my watchlists manually.

 

[METAL]

Now I made consistent profit

I made consistent profit last two month I made almost 10500 dollar before I had loss 18000 now I am confident and I am sure I recover my loss and I would become profitable trader. I must follow strategies and stay disciplined

That is so good to hear. Keep it and trust the levels!

 

[METAL]

Great day again. No losses today!

META

TSLA

SPX

 

[METAL]

314.00 Profit Wednesday. I stopped trading and missed some of the good moves but wanted to wait for FOMC news.
I also did something I typically never do. I yolo'd a SPX call and it immediately went to $1,350.00 profit but I did not take it. I held it overnight. I may regret this decision but I decided to see if I may get a bigger push after hours. Doesn't look like it.

NVDA:

 

[METAL]

Another fantastic day. I did have two losses but ended up with another great profit.

 

[deansafeleen]

Another fantastic day. I did have two losses but ended up with another great profit.View attachment 22963

Nice day! How do you determine how many contracts to buy for a given trade? Is it based off of feel, or something else?

 

[METAL]

Nice day! How do you determine how many contracts to buy for a given trade? Is it based off of feel, or something else?

I typically try to get around $2,000.00 to $3,000.00 per trade. For example, Options contract at $3.00. I will buy 6 to 10. If I am entering on a Market open breakout which IMO is a higher risk, I will enter with a smaller amount and then add if I get the move and or confirmation. When I get A+ setups, I will enter even heavier. There is definitely a "feel" factor as well. For instance. If I get into a TSLA trade that is going against the market, I will enter light and scale out/take profit early just in case it decides to play ball with the rest of the market.

I am increasing my Risk (Scaling up) amount as I have built my account up substantially over the last few weeks.

 

[METAL]

Had an $816.00 loss on Monday. Should have stopped trading when I was up.
Today I made most of it back. $780.00 Profit today. As usual, I missed some really good setups.

TSLA

TSM:

SPX

SPX:

BABA

 

[METAL]

Hope everyone had a GREAT trading day! Todays Trading: No Losses...Yay

META-

SMCI-

TSM-

 

[rava]

Hi Metal, Is there a way that you can add arrows to the chart to give buy and sell signal?

 

[METAL]

Hi Metal, Is there a way that you can add arrows to the chart to give buy and sell signal?

Not really. I trade manually and there are too many parameters to when I enter the trades.

 

[traderofrivia]

Hey @METAL,

I've been using a 10 minute strategy for SPX to good results (though mistakes were made when I got cocky), but I think it can be used with the 2 minute one.

Also modified the setup slightly (kept the idea the same, but further confirmation) and think it will work out nicely - figured an additional confirmation on the 2 min and 10 min could help prevent false breakouts and help stay in trades longer.

I have a few other questions. I know you said you spend 2,000 - 3,000 on contracts per trade (6-10 contracts), but:
(1) how does that scale to SPX?
(2) are you still spending that amount, but just going in fewer contracts?
(3) is there a certain percentage profit you're looking for per trade?

 

[METAL]

Had a decent day today but man did I miss the boat! $1,400.00 profit today but it should have been a lot more. I hope you guys got the downside today. I got a little.
SPX/SPY

TSLA

GOOG

Rinse and Repeat!

 

[METAL]

Hey @METAL,

I've been using a 10 minute strategy for SPX to good results (though mistakes were made when I got cocky), but I think it can be used with the 2 minute one.

Also modified the setup slightly (kept the idea the same, but further confirmation) and think it will work out nicely - figured an additional confirmation on the 2 min and 10 min could help prevent false breakouts and help stay in trades longer.

I have a few other questions. I know you said you spend 2,000 - 3,000 on contracts per trade (6-10 contracts), but:
(1) how does that scale to SPX?
(2) are you still spending that amount, but just going in fewer contracts?
(3) is there a certain percentage profit you're looking for per trade?

I use 5m, 10m, and 15m TF to help with confirmation but only use the price action.
(1) Example: SPX 14.00 per contract ATM. I usually will enter 2 -3 contracts. I like to be able to scale out and lock in profit. If the contracts are $4.00. I will enter on 6 -10 contracts. Sometimes it depends on my gut feeling.
(3) No particular percentage. It varies with every trade. I really try to let price action, market and target levels dictate my take profit areas.

 

[Nix2nix]

Had a decent day today but man did I miss the boat! $1,400.00 profit today but it should have been a lot more. I hope you guys got the downside today. I got a little.
SPX/SPY
View attachment 23050

TSLA
View attachment 23051

GOOG
View attachment 23052


Rinse and Repeat!

Hi Metal, do you only trade certain stocks with this strategy?

 

[METAL]

Hi Metal, do you only trade certain stocks with this strategy?

For the most part I do. But it is not limited in any way as far as I have tested. I typically trade the "Big Boys" as volume and price action is typically good.

 

[METAL]

Todays Recap. More to come.
AMD