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In a previous thread you were outlining the ranges for AAPL, BIDU, and other weeklies, how do you calculate this? I opened up a chart of these in the 5 min and added an ATR to see what the range is, but without having to do some serious excel spreadsheeting, not sure how you derived these ranges. Do you hand calculate it?
You mentioned in a previous thread that you switched are switching to NT7, but chart trading options or quick entry with options aren't supported. These weekly options move pretty damn fast and was wondering if you already set which option strikes you're going to play for that day and have a hot button somewhere, or do you just go find the strike you want when the time comes?
First pull up a daily chart of whatever you are interested in trading. Pull a ("7"-interval) ATR on that daily chart. Next take that ATR number and multiply it by .08 (conversative interval). Do this on a DAILY basis as your range needs to be dynamic, or it will become useless, IMO.
Example AAPL's current 7-interval on the daily chart was $ 8.3714. Therefore the range I am using for today is $ 8.3714 * .08 = $ .67
As far as Futures go you can use 8%, 5%, or 2.5% (like I use on oil) of the Daily ATR. This all depends on your style of play, conservative to very aggressive. I like to be very aggressive on Oil.
Note: Make sure you round up/down to what the tick values are of the futures you trade, like ES is .25, CL $ .01 and so on. On stocks just round to the nearest $ .01.
I only trade futures on Ninja, options are done on E-Trade. Since I only play certain weeklies I already have a very good idea what I will be playing that day, but can change depending on how much movement we get out of the stock that day. They can be very dynamic, just like my range bars.
Tip: On Fridays, weeklies love to settle on strikes.....
Let's see if it settles right here for the day....makes sense a $ 580 strike, plus a very strong past month 78.6% fib....I know I am out....but it really hurt to give up that "full" $ .10 spread
I apologize for venting on you, you didn't deserve that.
Please send me a pic of your charts and what you are trying to do with them and I'll be happy to give you my two cents of what I do and what I am looking for.
Sorry to hear this, was looking forward to this webinar, as I have enjoyed your journal thus far. Just know not all members here are the same. Good luck in the future and I hope you and your wife continue to be successful, I think it is so cool you are able to do this as a family.
I will be rolling out a different format tonight. No more comments, as I will leave that up to the experts. I will be posting a stock or future in a weekly, daily, and hourly print. The charts will speak for themselves and this will allow the experts to decide how they want to play them be it monthly, or weekly options and in whatever format they want to use with those options.
Secondly, I will be happy to post other people's stock requests if they want to see what that stock looks like using my set-up, (limit one a day).
Here is an example of the new format that shouldn't be offensive to anyone. No more comments or day's results as I have learned my lesson I'll just post these types of charts of everything I am interested in trading. I will mark up potential buy/sell areas and leave it up to you to decide how to trade them.
Secondly, if you have a stock, or future you are interested in send me a note and I will print a similar chart for it. Please limit one stock per day.