Intra Day Index Trade

10 day/10 minute chart of the Russell. I mentioned in my first video being long with a stop at $77 on IWM or $774 on the $RUT. On a 10 day chart this might signal a beefy move.

A gambler gets long here, a person awaiting confirmation waits for a break of the neckline.

Stay tuned.

Recommendation: I am trying to implement new ideas. Bear with me.

Long: The Russell

Short: Energy Drinks ( The Machine is still sold out)

Disclaimer: Just because I am long the Russell, doesn't mean it is the right thing to do.

jeff-keep the day trade info coming. those of us who have the time to take advance, need all the help we can get. Also like ESV as a DESC Triangle. Maybe a breakout happening today

You're so wise. You're like a giant Buddha, covered with hair.

Jeff,

Thanks as always.

Anu

GRMN - $115 to $120

David in NH

got to love the relative weakness on ATI.

Jeff, thanks for the video. Tons of ideas to look for.

CCC working nicely for me today

Jamie

Jeff,

Thanks for the ideas on the videos. It is much appreciated.

BG is moving to a new high on above average volume. Also take a look at PTEN. There was an institutional size block of calls purchased (16,000) for the Nov. 27.50 strike. They were purchased yesterday. This is $5 out of the money and they are cheap. Somebody is looking for this stock to retest its highs in a short manner.

JP from OC

I'm shopping, but nothing compelling.

Jeff, I took the IWM intraday trade on a retest of the neckline after it broke. The pattern would suggest a move to around 79.50 in three days? Is this how you are playing it or are you out by day's end?

If you are a daytrader, especially in this market, you must close out by day's end (gap risk). If the pattern is set for three days, that means three individual trades for me.

Jeff

Sarah,

Nothing compelling? In the videos or in general?

Jeff

Guess what GES is under the support line, I like it for an entry, you had an exellent example in this mornings class room.

Thanks, Jeff. I closed out of IWM at end of day with a profit! It may be my first profitable day trade ever. The profit was extremely small, but I'll take it as I am just practicing here.

Would have doubled my profit had I waited 4 more minutes to exit.

Jeff- lots of trades to disect. May I ask, are you in each of the trades that you offer up for our review and if so, what percentage of your trading account is allocated to each? I swing back and forth between "This trade is only one among thousands" (keeping position sizes small but numbers of trades to follow huge) to fewer numbers of trades with a higher number of contracts that I can follow more closely but the potential to hurt or help the bottom line is amplified.

With volatility ready to ramp up in the near future are you still trading both puts and calls just as business as usual?

Thanks for your hard work to make us better traders,
Stan

This comment has been removed by the author.

Post a Comment
...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
My profile

Prescriptions Here!

Other stuff

Blogarama - 
The Blog Directory
Directory of 
Finance/Business Blogs Finance 
blogs Top Blogs Finance Blogs - BlogCatalog Blog Directory