Trust The Levels - Trade Options In ThinkOrSwim

[METAL]

Here is a link to the video.

 

[METAL]

@WEDenterprise @bkpshah I hope you used this today. Let me know if you did and how you did.

 

[METAL]

Todays LRC Strategy.

 

[stonkmartian]

can you share the latest grid/code? For some reason the shared links you provided are no longer working. I am seeing nothing on the chart.

 

[Arun85]

Todays LRC Strategy.

Hi,
How do you determine whether to take your trade off of Linear multi-day or Linear Reg Anchored when day trading? And for swing trading, which ones of the above do u recommend or is it both?
Thanks

 

[METAL]

Hi,
How do you determine whether to take your trade off of Linear multi-day or Linear Reg Anchored when day trading? And for swing trading, which ones of the above do u recommend or is it both?
Thanks

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

 

[Arun85]

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

Well explained and will check it out this week. Thanks

 

[VRaju]

I do not use this to swing trade. I typically use the LRC anchored however, I have found that the Multi-Day with 2nd deviation works for several stocks. The way I have determined which to use, is to observe if the stock is respecting the levels. If it is respecting the 2nd deviation more for a particular stock, then I will use that information to place entries. It is pretty simple as you will know after a few days of observing. I used both together for a while.

Just chanced upon on this thread. Looks very promising (especially last Friday with most of the stocks) with the Grid/Chart you shared. Will check it out this week

Thank you very much for sharing this strategy.

 

[HODL-Lay-HE-hoo!]

Nice @METAL!

 

[GARLAND122]

Todays LRC Strategy.

Metal, newbie here. Downloaded your screen, watched video etc. How to you draw your LRC anchored
channel. When I import yours (shared linear regression with time frames) it creates a line basically following candlestick chart.

 

[METAL]

Another BANGER of a DAY! I hope you guys are trying this strategy. So far I have been profitable every single day that I use it. Today could have been so much better, but I decided to reduce my size today because of how sideways the market has been. GOOG, TSLA, and META I also used it for SPX and ended the day very profitable.

 

[ygjmgugigiu0683]

@METAL why didn't you take spy/SPX calls at the touch of the lrc? I think the time was 10:18 EST? I took that trade and exited where you entered. Ty BTW stress free.

Edit: To clarify my tone I'm just wondering if my trade was too high risk in case of a breakdown. I was watching your setup for a few days until I tried it today for the first time. Thank you again it worked well.

 

[VRaju]

Another BANGER of a DAY! I hope you guys are trying this strategy. So far I have been profitable every single day that I use it. Today could have been so much better, but I decided to reduce my size today because of how sideways the market has been. GOOG, TSLA, and META I also used it for SPX and ended the day very profitable.
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Thank you very much @METAL for the strategy. I tried with NVDA today and those were good scalping trades.

Sorry if I missed it but could you please let me know how to enable 2nd dev (Yellow lines) levels. I tried with Multi-Day but not matching your charts.

 

[METAL]

@METAL why didn't you take spy/SPX calls at the touch of the lrc? I think the time was 10:18 EST? I took that trade and exited where you entered. Ty BTW stress free.

Edit: To clarify my tone I'm just wondering if my trade was too high risk in case of a breakdown. I was watching your setup for a few days until I tried it today for the first time. Thank you again it worked well.

The main thing that may have kept me out of that trade is that I would have been trading into the 20 EMA and the 200 EMA. That doesn't typically end well for me.
The only bad thing I have found with this strategy is that I miss some that end up being way better than the one I entered. That is trading though. I believe I was in the META trade. In any case I hope you did well on that one. Would have been huge for SPX. Please let me know how you did when you have time.

 

[ygjmgugigiu0683]

The main thing that may have kept me out of that trade is that I would have been trading into the 20 EMA and the 200 EMA. That doesn't typically end well for me.
The only bad thing I have found with this strategy is that I miss some that end up being way better than the one I entered. That is trading though. I believe I was in the META trade. In any case I hope you did well on that one. Would have been huge for SPX. Please let me know how you did when you have time.
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Gotcha! I took it but unfortunately got out where you entered. I'm just slowly trying to add this to my system. It's been going well though. I took puts at around 9:50EST today. Too bad it doesn't work premarket. Thank you again for sharing this

 

[METAL]

Gotcha! I took it but unfortunately got out where you entered. I'm just slowly trying to add this to my system. It's been going well though. I took puts at around 9:50EST today. Too bad it doesn't work premarket. Thank you again for sharing this

Did you trade spy at 9:50

 

[ygjmgugigiu0683]

Did you trade spy at 9:50

Yeah I did. It worked extremely well. I took profit at the rejection of the orange line and left runners for the breakdown.

 

[EverGratefulMoneyMagnet]

On 3/22, my lines show at very different locations and far away from the main price action. i didn't make any changes to the indicator. how do i backtest it?

also, i see only 3 lines on my chart. i may be missing a SD. How do i get that?

 

[GARLAND122]

Guys, This is somewhat of a game changer for me. I have profited more in the last few days using this indicator. See chart where I bought and sold. Here is my grid if anyone is interested. https://tos.mx/psH8Wtm

Here is a link to the video.

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Metal,

Been following your posts and getting up the learning curve. Do you favor calls or puts, and in the money or out. Also, per chance could you share the new indicator you spoke of. Thanks

 

[METAL]

Metal,

Been following your posts and getting up the learning curve. Do you favor calls or puts, and in the money or out. Also, per chance could you share the new indicator you spoke of. Thanks

I do not favor one way or the other. I trade with the market as a whole. I will look for ES, NQ, QQQ to moving in the same direction and especially if they break and retest or reject a major S/R level. I typically get at the money unless the price is super low, then I may buy more in the money. After using the volatility trailing stop for a bit, I stopped using it. I will provide it later.