/biz/ - Business & Finance

>>15991433
>100 years
>trying to use the same formula spanning gold-backed money era to fiat.
>thinks ta matters in central bank put era
>plunge protection team steps in
time for nursing home. woodstock was a long time ago.

>>15991433
I should have followed your call senpai.
I tried a trade for myself down 50% = $20
So I guess that's part of tuition.

Any chance of you showing a chart and the setup?
If not I have you book recommendations written down.

>>15991433
So how do you trade nigga?

>>15991624
GLD 140 put on the break of 139.78
UVXY 21 put, but I am already in that one, I should have a new call later today.
takeprofit on SPY calls at around 304.86
EEM 42.5 call on the break of 42.38. The stop location on this one isn't the best, but I will know better at the open.

>>15991647
trendlines and channels, all technical, no news. doesn't matter if it is pork bellies, stocks, or forex.

>>15991665
So what do you look for nigger?
Naked price action? Support/resistance? Patterns?

>>15991645
study Mandelbrot, Bill Williams, Alan Andrews, and Roger Babson. hope you stack it to the ceiling!

>>15991672
I like those too.

>>15991682
Will google these.

>>15991675
there is only one pattern: hi-lo-hi or lo-hi-lo. once you master this setup, you will prosper.

>>15991665
oops, GLD put on the break of 139.60

>>15991665
>EEM 42.5 call
Now owned

>>15991712
GLD gapped up, waiting for a fresh setup

>>15991665
>EEM 42.5 call on the break of 42.38
EEM opened at 42.39
kek!

>>15991695
>hi-lo-hi
that sounds absolutely autistic, where do i start to learn

>>15991754
for now, my EEM takeprofit is the touch of 42.66. at lunch, I will adjust stops and tp's.

>>15991774
EFA 66.50 call

>>15991774
>for now, my EEM takeprofit is the touch of 42.66
thankyou Sir

>>15991813
tp = 67.04, stoploss = 66.60

>>15991688
I forgot: anything by Tim Morge is also legit.

>>15991949
>I forgot: anything by Tim Morge is also legit.
wrote him down too.

It's not by Alan Andrews but about his methods
Should I read it or stay away from anyone but the original authors?
It's not about the money for the book but about not learning the wrong things.
https://www.amazon.com/Best-Trendline-Methods-Andrews-Techniques-ebook/dp/B007V3WOE4/

>>15991984
that is a good one also (Mikula). I started with that book, then got the action / reaction course from Tim Morge. In that course, I used the 5 Rules to create a strategy that fits my profile.

let this sink in: TA techniques are the same techniques that engineers use to interpret design data for thousands of bridgse and buildings that folks entrust their lives to every day........

>>15991984
i forgot: stay away from Ron Jaenisch.

>>15992034
>that is a good one also (Mikula). I started with that book, then got the action / reaction course from Tim Morge. In that course, I used the 5 Rules to create a strategy that fits my profile.
Thank you sir! my study on this topic will begin with this book.
>>15992055
>i forgot: stay away from Ron Jaenisch.
thanks for the heads up

i only trade spot equities and crypto/usd pairs because i dont have enough for a margin account yet but i've made 300% on my total account the past 6 months. i dont think options and forex are subject to pdt but i havent looked into them yet
i hate being able to only make money in one direction
but it will be a while still before i can fund a 25k margin account
until then i have accounts with 4 brokers plus coinbase pro

>>15992117
use a cash account to get around PDT. $1k to 3k is plenty to get started in options. I did stocks, futures, and forex. The real money is in options.

>>15992157
yeah i have cash accounts on ameritrade ,schwab, fidelity and ib but I dont have access to shorting
i have about $750 on each
and i have 5k on coinbase pro for crypto vs usd
i dont have a mex account because it isnt technically legal in the US

>>15991433
What resources should I use oh great one
Is PA the only thing that matters
Teach us how we can teach ourselves

>>15992439
read the aforementioned resources I posted above. there is no substitute for hard work and screen time. once you master your own form of price action trading, you will be glad for it.

stick around, I may have new setups after 1246 hrs, depends on what happens between now and then.

>>15992500
I looked at those, thanks anon.
How long have you been profitable for? Is trading your only source of income? It’s tough to trust people on here sometimes.

I’m learning to trade the /ES right now and it’s difficult. I know there’s no holy grail, but I want to at least be pointed in the right direction (which most TA resources don’t do)
How do I know these/your methods are actually different than the rest?

>>15992529
>How do I know these/your methods are actually different than the rest?
Look at the timestamps of trade calls and verify the performance.

Here's an old thread you can see some calls that won and one that lost
>>15955545
senpai is "zTsOAhg5"

Also you can follow along with new calls today I guess.
I've got one trade on and I'm risking the huge amount of $39

>>15992529
never trust anyone on /biz/ including me. I also don't recommend you take any of the trades I post, but I do recommend you take a note of the timestamps of my calls, compare them with actual market behavior, then draw your own conclusions. bear in mind, I take losses, too. TA is just one part of picture, you also need tight bankroll management and practice with working an active trade. I am a trendfollower / breakout trader, so the market makes the entry decisions for me.

most importantly, never share personal information with anyone.

>>15991433
Crypto is the asteroid that will end you dinosaurs.

>>15992590
I see anon. Thanks again.

By the way, what do you think of WD Gaan?

>>15992606
>Crypto is the asteroid that will end you dinosaurs.

https://www.cmegroup.com/trading/agricultural/dairy/class-iii-milk.html

>>15992632
Gann used similar techniques as Babson and Andrews. References to astrology aren't really about planets. Gann used the Masonic alphabet to obscure his methods.

>>15991433
What a loser. Whanna hear my best trade (not in absolute revenue per se, but for a sense of personal pride)? I shorted XIV. That's waht pros do.

uvxy puts may stop out. buying uvxy calls on the break of 21.12

Old School Gambler here......
rolled a perfect roulette session yesterday, made almost 200% in one gambling session. This gamble was based completely on classical alcohol drinking and magical thinking in use for over 100 years. I drove to the casino on Friday before Monday open. I wasn't even fully conscious when the dealer handed my my chips.

Here is my PSA: Learn to only report your rare gambling winnings and you will prosper. Shilling brapcoins and foot pics has a limited shelf life.

>>15992632
>WD Gaan?
This guy goes deep into Gann
https://www.businesscycles.biz/timing.htm
He called the new bull market for the tech sector after 08 based on Gann's work. I was to unskilled to play it. All I had to do was by OTM qqqq leaps.

>>15992752
Trading is not gambling.

>>15992752
this post is pretty appropriate to my technique. I do not know for absolutely sure that my trade will work, only that the odds are in my favor. I take losses, also.

>>15992660
>Gann used the Masonic alphabet to obscure his methods.
>>15992632
>what do you think of WD Gaan?

For those who are interested here is a summary of Gann's work
https://chadanon.s3.amazonaws.com/Astrology+for+Gann+Traders/W.D.+Gann+-+Wizard+of+Wall+St/W.D.+Gann+-+Wizard+of+Wall+St.avi

>>15992529
>don't trust
>verify

bracket on GLD

GLD 139.5 put on the break of 139.60
GLD 140 call on the break of 140.31

most likely, I will get a better price later on for the call option and will adjust pending orders accordingly.

>>15992821
think "Ed Thorp"

>>15993587
>"Ed Thorp"
this is a good interview of him
https://www.youtube.com/watch?v=xcc9nuEqz0k

>>15993517
if GLD stays above 139.72 until 1330 EST, I will cancel the put side of the bracket.

>>15991433
So this is why biz smelled like a retirement home today.

>>15993699
moved EEM stop to 42.43
moved uvxy stop to 20.99

>>15993746
uvxy 21 call on the break of 21.00

>>15993248
>>https://chadanon.s3.amazonaws.com

tfw you still haven't you own S3 bucket to drop knowledge bombs on anons. It hurts to be poor

>>15993788
>It hurts to be poor
https://aws.amazon.com/free/
host your websites via s3 and cloudfront that's dirt cheap too.

>>15993517

bracket cancelled, GLD 140 call on the break of 139.95

>>15994227
working GLD 140 put, stoploss 139.71, tp 140.57

>>15994262
oops, fatfingered that, I meant GLD 140 call

>>15991814
EEM tp now = 42.75

>>15994465
EFA tp now moved to 66.79

>>15994478
oops meant stoploss = 66.79 long day

>>15994491
EFA stopout for profit, +16.24%

>>15992231
>$750 on IB

I thought their minimum deposit was 10k?

>>15994554
EEM stopout for profit, + 17.85%

>>15994574
working IWM 155 call. this one may not run far

uvxy put stopped out for profit, +9.66%

working uvxy 21 call

>>15994607
Holy shit I’ve been following these and you are definitely no joke
Thanks for being a good /biz/ poster

lol you ta guys are full of shit. you only talk about your wins and never the losses. Let me guess you just gained 200% on the $50 you had left after losing $10m of daddy's cash.

>>15994915
I took a loss on GLD this morning.

>>15994915
probably going to take a loss on IWM call, too.

>>15994915
IWM stopped out for a loss, -15.74%

tlt 139.5 call on the break of 139.46

kind of late in the day to do this one

IWM 154 put on the break of 153.75

probably not going to happen before close

>>15995373
What’s your opinion on FX? Like I said earlier I’m trading the ES but since it’s a futures contract it’s hard to truly gauge long term trends as meaningful volume only comes in roughly 2-3 months before it expires (take for example the current ESZ2019 chart)
FX just seems a lot easier to trade in that regard.

thanks anon

>>15995503
depending on the size of your bankroll, you may want to consider trading ES and NQ options instead of the futures contract itself. The premium is a tad high on those particular futures otions, so if your bankroll is less than $3k, you may want to consider SPY, QQQ, or IWM. Beware, though, unlike SPX or ES, SPY, QQQ, etc., do not cash settle. leave enough time in the contract to unload it, unless of course you have the account size to handle an ITM exercise.

>>15995522
anytime, my friend

>Here is my PSA

Also a old school trader here since 2004

what call/putts do you use? Turbos or just normal? short time or longer as 6 months/ unlimited?

any pref. stocks/spy/...

share a wkn

>>15995669
weeklys, 5-15 day expiration. straight puts and calls. I focus on the top 10 highest option volume etfs as indicated on barchart.

>>15995690
thx anon

>>15995721
anytime my friend. I hope you stack it to the ceiling!

>>15995733
is there a place for trader like us? most ppl scared for options or be margin faggs wo get rekt all the time.

>44 posts by a laper
>no proof posted
Anons...

>>15995804
Old School works in any market, but for me, the options market is where it is "at". I have traded stocks, futures, and forex, but they can't even come close to the options market. Simple trendlines, channels, breakout + takeprofit. HFT doesn't even matter.

>>15995842
Literally the entire thread is proof nigger

>>15995864
What brokerage+Chart platform do you use?

>>15995911
tradingview for charts, thinkorswim for trades

>>15995864
yeah options market is the real king market.

>>15995864
How much have you earned this past year in profit?

>>15991433
What do in this situation?

>>15996027
according to my read, MSFT still needs to go down a bit. no telling where it will be in the morning, but if I were in a put, I would set a profit target of 135.34 you being in calls, though, that is a bitter pill. I don't play around with trying to "fix" a trade, I just take the loss and move on. I use structural stops and they are really tight. today for instance, EFA call came within $0.02 of my stoploss.

>>15991433
Quality thread.
Me, i'm still struggling to even learn where to draw a trendline. Cant seem to grasp where its just a retracement or reversal and I'm left further clueless

Also, post your chadfolio pls

>>15996324
This.
OP tell us how much you actually make in a year doing this shit.

>>15996109
how far out do you buy your options? do you buy weeklies or give yourself a few weeks for less volatility?