What happened to "no holy grail" thread?

kmeade

New member
Hi all,

I was following a thread call "no-holy-grail-make-it-happen-by-using-wave-theory" that was started by J007RMC and it seems to have disappeared, does anyone know why?
 
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BenTen

Administrative
Staff
VIP
The original author @J007RMC appears to delete most of his messages within that thread. So there were a lot of missing pieces there. I removed it to avoid any confusion.

If you guys have any questions in particular, let's use this thread as a new place for that.
 

J007RMC

Well-known member
2019 Donor
Hi all,

I was following a thread call "no-holy-grail-make-it-happen-by-using-wave-theory" that was started by J007RMC and it seems to have disappeared, does anyone know why?
Hi noticed your I am at a loss to explain where the thread went to myself.
 

J007RMC

Well-known member
2019 Donor
I'm still using the wave system my PL is through the roof been averaging around 4k / day in catching the bottoms and top plays Especially good are the ab=cd plays the d legs pay well rarely does a stock reverse its direction until after it has completed its current wave. Sorta like ground hog day lol I welcome it Ive played apple every day now going on 3 weeks.
 

J007RMC

Well-known member
2019 Donor
What I have found over time is the completion of the wave guarantees a reversal however once the stock has drawn a a high or low line this is where it gets tricky ok.

What is the overall market doing? Is to stock liquid and tradable? News, momentum.

Every morning I Look at that and have two charts up the spy and aapl.

I want to see the. I know if the spy is weak so will be aapl. I wait for a drawn line or completed wave top and bottoms I merely look for the ride.

No guarantees here stocks can continue to push up or down so I watch the price action on 2-15 min charts. Seems I can never tag a high or lo spot on but I begin to leg in. So two contracts may be 4 then 6 then 12 or more if needed because I know its going to happen.

I watch the action I want to keep my avg as low as possible if I miss because I know trend change is coming and I'm good with the price moving in my direction its just a waiting game.

I strictly watch the 2 min chart while watching fibs and the swing hi lo all of it if I feel good price is moving in my favor I load the boat. Just simple, but works well for me.

I play the morning after open... more volatility and I'm usually done by 07:00 in and out no screwing around. Do I leave money on the table yes but Ive hit my daily goal and traded my plan tomorrow is another day.
 
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tradegeek

Active member
2019 Donor
VIP
I'm still using the wave system my PL is through the roof been averaging around 4k / day in catching the bottoms and top plays Especially good are the ab=cd plays the d legs pay well rarely does a stock reverse its direction until after it has completed its current wave. Sorta like ground hog day lol I welcome it Ive played apple every day now going on 3 weeks.

Great job @J007RMC ! I guess you focus mainly on trading AAPL options? Post an updated chart when you get a chance. Thanks!
 

J007RMC

Well-known member
2019 Donor
Here is the basis for my original post.


Simple Options Trading Strategy

Develop a Routine


Identify a small list of stocks that are widely traded and know trade management is one of the most important facets of successful trading. Markup your charts for support and resistance lines, i.e., entries and exits the night before the trade. Always have a contingency plan. Know the general direction of the market before placing the trade, i.e., expected news, earnings, and other events.

I check the 4-hour, 1-hour, 15-minute, 5-minute time frames to find strength in a stock, but I trade short term and like to be in and out of my trades the same day. The 15-minute time frame is telling and a frame to view the overall wave structure unless you trade mid-swing to longer trades. In that case, the 4-hour is as low as I go. Review Option Graphs for call, put, volume data current week stats mark the lower to higher volume boundaries based on the current week’s options. I find it easier to follow the swing high/low with knowing the put/call options volume ranges.

The most important moving averages, in my opinion, the 20, 30, and 50 exponential moving averages are a mainstay. I watch how price action reacts to moving averages. I like to throw up 8, 15, 49 exponential moving averages and I keep the 100 and 200 simple moving averages on my charts.


Short-term wave A

Medium-term wave B

Long-term wave C

Wave D the projected AB equals CD


Look for entries near the top and bottoms of wave B and wave C. Depending on one’s risk/reward these entries are oftentimes profitable. It's always a good idea to view upper/lower times to more accurately find your entries and exits very simple for best odds. Time your entries and exits by tops and bottoms of wave lines and the/stochastic tops and bottoms. Most important-greed kills accounts. Position/sizing can kill accounts. Unless you are comfortable with it, do not average down on trades. Have a trade plan for entry and exits... remember to set stop losses. If you’re down on a trade and how often do stocks recover after a 5- 10% drop and greater? Negative percentages are telling you the trade is not moving in the expected direction. Set your stops accordingly and do not exceed your percentage loss threshold. Unless you have an education in trade management keep it simple. Odds are you will win far more than stop losses.

I trade waves but not as the Elliot wave theory is explained my trade time is short.

 
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