What happened to "no holy grail" thread?

[kmeade]

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?

 

[kmeade]

@J007RMC let me know what you think, I always appreciate a different perspective. As for the settings, the only change that I made was turning off ADX.

 

[J007RMC]

Yes adding the dmi adds a huge layer to confirmation thank you I combined the dmi with a full stochastics huge very telling I mean algos pumping too and selling too

 

[kmeade]

@J007RMC I'm glad it could be useful, I'll checkout the full stochastic tomorrow, what settings did you use?

I can see all the trades so clearly but once I'm in it's a different story, I'm only 1 year in to my trading journey so hopefully I can get to a point of being consistent. Trade management is my biggest struggle. Thank you for all that you have shared, it has helped greatly.

 

[J007RMC]

Cheers Ive played apple going on a month now today it bit me but reaped profits at end of today.... markets crazy algos out of control lol.

 

[J007RMC]

@J007RMC I'm glad it could be useful, I'll checkout the full stochastic tomorrow, what settings did you use?

I can see all the trades so clearly but once I'm in it's a different story, I'm only 1 year in to my trading journey so hopefully I can get to a point of being consistent. Trade management is my biggest struggle. Thank you for all that you have shared, it has helped greatly.

higher time frames give you trade direction if your trading options dont trade weeklies go out maybe 3-4 weeks or two if you are comfortable with that. Really need to be on your toes with weeklies.

 

[kmeade]

higher time frames give you trade direction if your trading options dont trade weeklies go out maybe 3-4 weeks or two if you are comfortable with that. Really need to be on your toes with weeklies.

Yup, I like to trade the 1-min chart(I feel like it gets better entries and exits) and I use the 5-min and 15-min time frames to confirm direction.

One of the issues I have with going 3-4 weeks out is that with this volatility in the markets the options prices are so darn inflated, I am trading with a small-ish account so it limits me to my choices.

I had a nice trade with NFLX today, left a lot of profit on the table, hopefully I can keep it up to grow the account.

 

[wtf_dude]

higher time frames give you trade direction if your trading options dont trade weeklies go out maybe 3-4 weeks or two if you are comfortable with that. Really need to be on your toes with weeklies.

curious how you're picking strikes generally? ATM, deep ITM, .3 delta, etc

 

[J007RMC]

@J007RMC I'm glad it could be useful, I'll checkout the full stochastic tomorrow, what settings did you use?

I can see all the trades so clearly but once I'm in it's a different story, I'm only 1 year in to my trading journey so hopefully I can get to a point of being consistent. Trade management is my biggest struggle. Thank you for all that you have shared, it has helped greatly.

standard 14,3

 

[J007RMC]

Yup, I like to trade the 1-min chart(I feel like it gets better entries and exits) and I use the 5-min and 15-min time frames to confirm direction.

One of the issues I have with going 3-4 weeks out is that with this volatility in the markets the options prices are so darn inflated, I am trading with a small-ish account so it limits me to my choices.

I had a nice trade with NFLX today, left a lot of profit on the table, hopefully I can keep it up to grow the account.

yes these are crazy times and so hard to gouge I trade weeklies but want to be out same day sometime I misread like yesterday for instance I went short apple the day before and had to hold 40 contracts after having to average down from the top, overnight not good. Then finally at the end of the day they paid. One can always check the 4hr down to the 1 hr charts its a wise thing to do if you trade small time frames Like me too. The bigger picture and decreased momentum told me apple would drop but I endured two days of pain lol. Seems after I entered that trade the algos were in control buying as the price dropped.

 

[kmeade]

@J007RMC What i am learning is that on the small time frames the wave can be quite volatile while the large time frame waves will maintain their direction making it them all that more crucial for confirming your entry and keeping your composure once in the trade.

 

[kmeade]

curious how you're picking strikes generally? ATM, deep ITM, .3 delta, etc

Personally, I like .4 to .7 deltas.

 

[wtf_dude]

Personally, I like .4 to .7 deltas.

right on, you're primarily a buyer or seller or just depends on the IV? Just curious. I like seeing what everybody is up to. I worked trade desk and trained people on basics at TDA a few years back

 

[kmeade]

right on, you're primarily a buyer or seller or just depends on the IV? Just curious. I like seeing what everybody is up to. I worked trade desk and trained people on basics at TDA a few years back

I am primarily a buyer. I'm usually in and out of positions the same day.

 

[wtf_dude]

@J007RMC Man, never seen that opricot site. Love it! Thanks so much, J007!

 

[J007RMC]

@J007RMC Man, never seen that opricot site. Love it! Thanks so much, J007!

Free is great

 

[J007RMC]

I am primarily a buyer. I'm usually in and out of positions the same day.

Personally, I like .4 to .7 deltas.

.5 or higher for me I usually stay very close to itm but its really, if I see high volume I may choose otm. I went with apple Thursday at close even though it had a bad day but di prior the volume showed 275 and 282.5 so I bought both was a good day Friday. But yeah I stay close to itm for sure. So I do the weeklies if I'm not sure Ill just go out a week. Friday my group bet on apples red candle but the volume told a different story.

 

[J007RMC]

I am primarily a buyer. I'm usually in and out of positions the same day.

Sounds like a great job you had and what an opportunity to reap the experience. IV for depends on long long I intend to hold.

 

[J007RMC]

Well its been another beautiful weekend here in southern Oregon I hope everybody is well and staying safe. These sure are some crazy times man.

 

[SoXoS]

J007, hey love everything you do for the community. Any chance you could make a little tutorial video of your strategy in action with you walking through the steps? I would even be willing to pay for it

 

[J007RMC]

J007, hey love everything you do for the community. Any chance you could make a little tutorial video of your strategy in action with you walking through the steps? I would even be willing to pay for it

That is a great idea Ill give it some thought.