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ES Thursday 3-5-15


Bands for the day. Good luck to all.
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iv030515
thanks Joe.......my new revised philosophy is that the more time we spend in front of the computer trading then the more we lose - physically, mentally and financially....

as an aside to what newkid and Big Mike were talking about let me chime in with this........while I don't really agree trying to net one point etc i will say that my trading didn't really turn around until I was able to include runner contracts.....there is a freedom that clears up your mind when you can take off some profit and try to go for more without the worry of being stopped out etc...........so being a one or two contract trader can be very difficult at first but the key thing is to practice taking a profit and making good trades at proper Lines ( lines are really any area that YOU deem important from any method u think works).....and of course taking multiple tries and your key points if needed...Oh yeah, i wouldn't suggest being here trading after 11 a.m especially if u have losses....the urge to revenge trade will be too strong and that need to "make up" losses can overcome you



Originally posted by CharterJoe

Nice video Bruce. And spot on today. And I have horrible hip pain LOL 2 months ago doing squats. Im finding my 10hr sessions are not happening anymore.
Originally posted by CharterJoe

Nice video Bruce. And spot on today. And I have horrible hip pain LOL 2 months ago doing squats. Im finding my 10hr sessions are not happening anymore.


Man, I feel your pain and Bruce's too. That sucks.

I am pain free at age 55, can still lift and play ice hockey with most High Schoolers.

My wife on the other hand had neck fusion 2 years ago to relieve pain from pinched spinal column and still has pain to some degree or other pretty much every day.

Every day I am thankful for my health. Wishing you both successful recoveries!
and I'd like to know who got in front of my 2103 number by one tic ? LOL....all I can see is a selling tail near On high but I don't think that was the reason....ok...gotta run...my quest for today is to learn as much as I can about defending options earnings plays.......all resources are appreciated...I'm putting all the ideas I find into a big "idea stew" to find the ones that may work for me.....any input in Private or on my options thread would be appreciated...and thank for your input so far Big Mike
91 is 10 points off the open and around yest. afternoon swing low as an FYI.
Good points again Bruce. I am just teaching myself to get more disciplined and consistent before adding more contracts. That way I limit my losses and it gives me some peace of mind

Originally posted by BruceM

thanks Joe.......my new revised philosophy is that the more time we spend in front of the computer trading then the more we lose - physically, mentally and financially....

as an aside to what newkid and Big Mike were talking about let me chime in with this........while I don't really agree trying to net one point etc i will say that my trading didn't really turn around until I was able to include runner contracts.....there is a freedom that clears up your mind when you can take off some profit and try to go for more without the worry of being stopped out etc...........so being a one or two contract trader can be very difficult at first but the key thing is to practice taking a profit and making good trades at proper Lines ( lines are really any area that YOU deem important from any method u think works).....and of course taking multiple tries and your key points if needed...Oh yeah, i wouldn't suggest being here trading after 11 a.m especially if u have losses....the urge to revenge trade will be too strong and that need to "make up" losses can overcome you



Originally posted by CharterJoe

Nice video Bruce. And spot on today. And I have horrible hip pain LOL 2 months ago doing squats. Im finding my 10hr sessions are not happening anymore.

Originally posted by BruceM

and I'd like to know who got in front of my 2103 number by one tic ? LOL....all I can see is a selling tail near On high but I don't think that was the reason....ok...gotta run...my quest for today is to learn as much as I can about defending options earnings plays.......all resources are appreciated...I'm putting all the ideas I find into a big "idea stew" to find the ones that may work for me.....any input in Private or on my options thread would be appreciated...and thank for your input so far Big Mike


Bruce are you trading naked around earnings?
that's great to hear Big Mike...my back pain started as scoliosis that was missed as a kid...so being 6 foot four and sitting as a trader hasn't helped......but I get by....swimming is still a godsend to me.....my Curve is 13% which is un-noticable to the untrained eye and luckily nobody can tell..........most people have a .04 or less......but I am fortunate as the pain is tolerable most days and I'm not hooked on any meds....ok, that's more information than anyone really needs to know....ha !!!!

I gotta go...afterall, how am I gonna OWN the world as an options trader if I don't put in some extra time....??

Originally posted by Big Mike

Originally posted by CharterJoe

Nice video Bruce. And spot on today. And I have horrible hip pain LOL 2 months ago doing squats. Im finding my 10hr sessions are not happening anymore.


Man, I feel your pain and Bruce's too. That sucks.

I am pain free at age 55, can still lift and play ice hockey with most High Schoolers.

My wife on the other hand had neck fusion 2 years ago to relieve pain from pinched spinal column and still has pain to some degree or other pretty much every day.

Every day I am thankful for my health. Wishing you both successful recoveries!
Bruce,

All of these segments are about defending trades gone bad. maybe something there for you.

https://www.tastytrade.com/tt/shows/anatomy-of-a-trade?locale=en-US

no..I'm too shy......no nudity for me.........and I think that is stupid for me.........slow and steady........Iron Condors and credit spreads....I'll gladly give up big profits for smaller consistent wins at this point.....
Originally posted by Big Mike

Originally posted by BruceM

and I'd like to know who got in front of my 2103 number by one tic ? LOL....all I can see is a selling tail near On high but I don't think that was the reason....ok...gotta run...my quest for today is to learn as much as I can about defending options earnings plays.......all resources are appreciated...I'm putting all the ideas I find into a big "idea stew" to find the ones that may work for me.....any input in Private or on my options thread would be appreciated...and thank for your input so far Big Mike


Bruce are you trading naked around earnings?
we have now gone to 96.5 two times... the membrane is getting weaker..
Joe, when you have a minute, can you explain again how you calculated those percentages and what does o.b mean (opening balance? 1-min, 5-min?)?
i know you said you used discretion on where the bar closes with respect its range but i did not quite understand the L1-80%, etc.. thanks

Originally posted by CharterJoe

I have done this for years by hand only real time this a.m. looked like this
9:30 LL
9:35 LL L1 -80%
9:40 LL L2-60%
9:45 LL L3 +100 o.b.
9:50 HH H1 +20%
9:55 ib inside bar
10:00 LL L1 strong close +90%