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I have been informed my system is easy and that everyone has it figured out (cool, that was my goal in designing it). I hope anyone using it had a day today, like I did! This also makes it easier for me to post here, no need to mark-up my charts, just cut and paste.
ES, +18 points
Amzn a double on the weeklies
Goog a double on the weeklies
Nflx a triple on the weeklies
Aapl a triple on the weeklies
Hi Vikings. When you say you score a "double" or "triple" is that a set amount % based on how much the option trade for a stock costs? So like "double" your general profit target in terms of option price difference? Also in general are you buying single calls or puts, preferably weeklies but they can also be regular , less than 30 days till expiration options , at your entry points?
I'll try it out on TOS sim. I've done something like this before but from a scan of stocks.
TOS is so much better and flexible to trade and try stuff out these days. Glad they finally added adjustable lower chart areas!
As my title of this journal states, "weekly option trader" and I am strickly a "day-trader" who trades only weekly options, ES and FX, no swings and thus NO monthly options.
Double and triple means exactly that...bought aapl at $ 2.16 ($ 575 weekly puts @ 9:34 EST) today, sold them @ $ 6.20 today (@ 10:22 EST)....
I only buy simple calls and puts.......
Profit margin is completely determined by price action and targets I can can clearly see on my charts..like pivots, strong ema's (55 & 200), past month Fibs, & Demark. Some will run, some won't, the ones that don't I am out...the others I let run as far as they want to and WILL add to the position if given the chance to.
Thanks, I get what you mean now. Wow, nice on those doubles and triples. I'll give it a try on papersim TOS come Monday and post results on my journal. Thanks Viking. You too.
I was wondering how you are placing your trades in ToS. Are you using the ActiveTrader tab, or just straight off the chart?
And thanks for the journal!
I do not use TOS for any of my trades, I use E-Trade (been with them for over 10 years) for all my weekly options, Apex for my ES, and Forex for my FX trades. TOS is mainly for charting, but I am getting some of my TOS programming reprogrammed for Ninja as that is where I want to end up. TOS can be such a pain at times.
All that said, since I trade a limited group of stocks (6 total) I already know what option I am going to buy as soon as I get a buy signal.
I knew after their election today, tonight might be interesting, and it was... Already locked in 7 points and looking to collect some more, probably to the downside.