Retail Trading for a Living Milestone - "Feed my ego"/Thought sharing

[ThingyMajiggy]

Do you see this often minwa, I've just been checking out the three amigos on a chart tonight, blue line is NQ, other two are ES/YM, but just now the NQ is seeming to be doing it's own thing, or do you not put much weight on that because it's not as closely correlated as ES and YM? Or is a long on NQ glaring me in the face?

 

[minwa]

Do you see this often minwa, I've just been checking out the three amigos on a chart tonight, blue line is NQ, other two are ES/YM, but just now the NQ is seeming to be doing it's own thing, or do you not put much weight on that because it's not as closely correlated as ES and YM? Or is a long on NQ glaring me in the face?

View attachment 66316

No it doesn't happen too often, they should be closely correlated most of the time. I only trade the S&Ps don't do those plays where I expect laggard to catch the other. The move was earlier today, probably due to the oil news. If market is down more than normal pre market then use the CME open outcry open as the open and look to buy below that. It's there, but I missed it today - not very clear.

 

[Modest]

NQ completely diverging from ES.. You trading this thing?

 

[hamli]

NQ completely diverging from ES.. You trading this thing?

Due to oil.

 

[Modest]

I thought maybe they changed NQ to follow Chinese stocks and not nasdaq :

 

[Wysiwyg]

Trader Minwa has position sizing completely understood. Most of the time, if not very lucky, small accounts blow up because additional risk is taken to actually get a meaningful reward. While with a large bankroll when strictly managed that risk to reward is so much sweeter. Large or small, gotta manage that risk and be patient with the process.

 

[kid hustlr]

Where's the monthly update Minwa I'm in need of some motivation

 

[minwa]

I'll update this week.

http://traderbroadcast.opentrader.c..._source=oap&utm_medium=email&utm_campaign=e04

Saw a decent free advertising webinar for Opentrader. Lots of things clicked with my style - institutional orders/buying after big fall/zones/HTF context. Just turn it off when he starts selling at the end.

Can't recommend buying the course yet, but they seem to know what they are talking about.

 

[minwa]

Where's the monthly update Minwa I'm in need of some motivation

Year to date 38% for 4 months and a week, thanks for Jan. Had a 3 weeks break during Lunar New Years in Feb so sneaked in a week from May. Only need 12% next 8 months to achieve my yearly target. I can see how greed has really kicked up a notch this year after Jan which caused prolonged draw downs and less stable equity curve..rather depressing. But end result profit overall is higher and on target so all's well I guess.

 

[minwa]

Looking for a bottom in cattles intermediate term

Love fleshing out these moves Larry Williams style.

 

[minwa]

Change of topic to general everyday finance..something I don't have much experience in. I wasn't sure if I could get finance for the car being solely income from trading & no other major assets, basically besides my car my net worth is pretty much my trading account. I was going to try get a loan closer to delivery date/payment and if that wasn't possible just pay it in cash. If I keep up the returns, I can outperform the interest paid so it makes sense to take the loan, if possible.

Recently discovered leasing..and it allows even less monthly repayments, about 500 less per month - allowing less withdrawal of trading capital which makes more sense..assuming a higher return from trading is achieved than the extra expenses involved of course.

Although I've already signed contract, I've spoken with the salesman and with this vehicle being in rather high demand I can reorganize the deal with minimal or nil penalties.

Anyone have any opinions and maybe things I've missed ? Am I taking on too much risk by leveraging on finance as well ? Also anyone with any ideas on taking loans with rather large variable differences in tax returns with no employer ?

 

[Roller_1]

How have you been going over the last few months Minwa?

 

[minwa]

How have you been going over the last few months Minwa?

Half year update after the month closes. Bittersweet happy I guess.

 

[minwa]

Anyone like options stuff ?? If you haven't read this post of my on options from last year have a read before continuing on this post.
https://www.aussiestockforums.com/f...t=30260&page=2&p=884486&viewfull=1#post884486

This fine Brexit mess provides the opportunity I talked about. As this was a KNOWN SCHEDULED event, volatility crush is what I was looking for, aka shorting options. Human emotions overreact, you just sell the premium and cover at discount. Thursday saw the market take the S&P going into yearly highs - liquidity/stops seeking maneuver providing the fuel for the sell off.

Large change in put to call ratio alerts something is about to goon the options market.
View attachment 67251

Then Monday opens with market down quite a bit BUT VIX OPENS DOWN @ 24.38, down from Fri's close of 25.76. Big boys have inevitably left tracks of their activity. Now just have to go to the charts to find clues where it may occur..remember - they are too big to hide their activity, price itself is the ultimate indicator.

View attachment 67252

Institutions operate the same levels. As everything is about liquidity...why is that highlighted bar significant ? It's a day where a "mopping up" of retail stops occurred, taking out both previous days's highs and lows. "Engulfing" bar if you will - not the candlestick formation crap. This marks an important level going forward as that's where a lot of big boy activity was done on.

View attachment 67253

We dip into the zone on Monday off a slide, now look at intraday time. What time do I normally look at for first target off the morning trade ? Just before midday. Combine everything...price dipping into a time where a pause is expected then going sideways, in a higher level big boy level with the activity of options and VIX..giving you a high probability volatility crush. Price can consolidate intraday here a bit before the next move, positions are being cleared and shuffled around at this level, from the last time they were here (the highlighted bar in March.

View attachment 67254

Maximum vol crush at the money weekly straddle. IB log says "BOT", I "bought" a "short straddle"..being net short overall.

View attachment 67255

Fun day(night)..only downside was I couldn't watch the season finale of game of thrones throughout the night , which also means I couldn't browse social media as I don't do hard stops in options like you can easily do in the futures contract itself..

(taking gif ques from Modest)

 

[CanOz]

Can't seem to access the attachments minwa, can you post again?

 

[minwa]

Hmm that's odd. Can't edit post anymore so double post:

Anyone like options stuff ?? If you haven't read this post of my on options from last year have a read before continuing on this post.
https://www.aussiestockforums.com/for...l=1#post884486

This fine Brexit mess provides the opportunity I talked about. As this was a KNOWN SCHEDULED event, volatility crush is what I was looking for, aka shorting options. Human emotions overreact, you just sell the premium and cover at discount. Thursday saw the market take the S&P going into yearly highs - liquidity/stops seeking maneuver providing the fuel for the sell off.

Large change in put to call ratio alerts something is about to goon the options market.

Then Monday opens with market down quite a bit BUT VIX OPENS DOWN @ 24.38, down from Fri's close of 25.76. Big boys have inevitably left tracks of their activity. Now just have to go to the charts to find clues where it may occur..remember - they are too big to hide their activity, price itself is the ultimate indicator.



Institutions operate the same levels. As everything is about liquidity...why is that highlighted bar significant ? It's a day where a "mopping up" of retail stops occurred, taking out both previous days's highs and lows. "Engulfing" bar if you will - not the candlestick formation crap. This marks an important level going forward as that's where a lot of big boy activity was done on.



We dip into the zone on Monday off a slide, now look at intraday time. What time do I normally look at for first target off the morning trade ? Just before midday. Combine everything...price dipping into a time where a pause is expected then going sideways, in a higher level big boy level with the activity of options and VIX..giving you a high probability volatility crush. Price can consolidate intraday here a bit before the next move, positions are being cleared and shuffled around at this level, from the last time they were here (the highlighted bar in March.



Maximum vol crush at the money weekly straddle. IB log says "BOT", I "bought" a "short straddle"..being net short overall.



Fun day(night)..only downside was I couldn't watch the season finale of game of thrones throughout the night , which also means I couldn't browse social media as I don't do hard stops in options like you can easily do in the futures contract itself..

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=67256

 

[CanOz]

Hmm that's odd. Can't edit post anymore so double post:

Anyone like options stuff ?? If you haven't read this post of my on options from last year have a read before continuing on this post.
https://www.aussiestockforums.com/for...l=1#post884486

This fine Brexit mess provides the opportunity I talked about. As this was a KNOWN SCHEDULED event, volatility crush is what I was looking for, aka shorting options. Human emotions overreact, you just sell the premium and cover at discount. Thursday saw the market take the S&P going into yearly highs - liquidity/stops seeking maneuver providing the fuel for the sell off.

Large change in put to call ratio alerts something is about to goon the options market.
View attachment 67259
Then Monday opens with market down quite a bit BUT VIX OPENS DOWN @ 24.38, down from Fri's close of 25.76. Big boys have inevitably left tracks of their activity. Now just have to go to the charts to find clues where it may occur..remember - they are too big to hide their activity, price itself is the ultimate indicator.

View attachment 67260

Institutions operate the same levels. As everything is about liquidity...why is that highlighted bar significant ? It's a day where a "mopping up" of retail stops occurred, taking out both previous days's highs and lows. "Engulfing" bar if you will - not the candlestick formation crap. This marks an important level going forward as that's where a lot of big boy activity was done on.

View attachment 67261

We dip into the zone on Monday off a slide, now look at intraday time. What time do I normally look at for first target off the morning trade ? Just before midday. Combine everything...price dipping into a time where a pause is expected then going sideways, in a higher level big boy level with the activity of options and VIX..giving you a high probability volatility crush. Price can consolidate intraday here a bit before the next move, positions are being cleared and shuffled around at this level, from the last time they were here (the highlighted bar in March.

View attachment 67262

Maximum vol crush at the money weekly straddle. IB log says "BOT", I "bought" a "short straddle"..being net short overall.

View attachment 67263

Fun day(night)..only downside was I couldn't watch the season finale of game of thrones throughout the night , which also means I couldn't browse social media as I don't do hard stops in options like you can easily do in the futures contract itself..

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=67256

Thanks for the re post minwa.

 

[Modest]

Thanks minwa

 

[skc]

Great work Minwa... look forward to your half year bittersweet update...

P.S. I hope the bitter part is just that you have a big tax bill.

 

[CanOz]

Great work Minwa... look forward to your half year bittersweet update...

P.S. I hope the bitter part is just that you have a big tax bill.

Or maybe he had to wait longer for the m3!

BTW that link to the options tutorial doesn't work....