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Another example. 195 by apr24 with an ATR of 2.41 would require an immediate move in that direction. It is by no means a guarantee. EVEN if you are right about the direction, and the 195 target you are still out -$1117.83 @ expiry!

You can see the 50% fib was hit, and the handle completed just around .382 which is typical. I could have told you this was going to bounce back in October...and given a target price. I could have eyeballed it for you. Sure there are price anomalies that sophisticated quants can decipher, but...

I'm sorry how many (2008) Lambos do you have?

Looks like we hit a nerve lol :)

You know that's true, you are competing against entire teams of professionals, with a relatively endless supply of resources and capital. The only edge you can ever have is riding their coat tails. The way to do that is buy when they are buying and sell when they are selling. Retail is usually...

Shouldn't we be measuring success in # of Lambos?

See...fibonacci levels are the original quants... https://ibkrcampus.com/ibkr-quant-news/the-magic-of-fibonacci-numbers/

Backtest are worthless...I do front tests with EW. :)

Lol. I wasn't buying an algo...it was a free trial for a subscription to generate and backtest your own algos. There are plenty of sites out there that offer this...

Oh absolutely! It's a Lamborghini. When's the last time you said I saw a Subaru today?

Mechanical trade. Actually I knew it was going to go down but I wanted to test the system system. I think it's recovering just like I thought it would. I don't know it's on my chart somewhere. I don't look at it all day like you guys but my break even's right about where it is I think

I'm super stupid and I managed to get a 2008 Lambo trading. I tried some AI/algo platforms and gave up after about 2 minutes trying to navigate the platform. So unnecessarily complicated. Then they contacted me about why I quit the trial and I said said look guys. If it worked you wouldn't be...

If it's a bullish play then why don't you just buy calls or stocks and have unlimited profits? Selling puts is when you want to accumulate stocks and get paid for it. You guys have been drinking the retail cool aid lol

To keep with your theme...Quants are basically rediscovering the wheel...that wheel being EW. Algos are just to automate so offer no real technical advantage unless there was one already.

What a little lap dog you are lol. I requested a category just for charts and never heard back. https://www.elitetrader.com/et/threads/elliott-wave-charts-predictions.379060/ So my solution was to make my own website. I started a private topic and invited only the members who posted in the...

How long are we talking? Sure you can go way out and nothing happens, but once you get within 6 months if you aren't itm the time decay is going to destroy you. Been there buddy...not pleasant. Not to mention the spreads are usually garbage so once in you are committed.

I am not solely an EW trader thanks. "I'm a swing trader, like BNF before me." Why close for a loss when you can average down and maximize your gains? Such a retail mentality you have. Yes you can post charts here, but this place is more about discussing news and options and iv etc...nobody...

Ya thanks like I didn't know leaps existed. Clearly leaps are favorable but you need capital, and need to time it properly to maximize gains or suffer larger losses if it goes against you.

Hey what platform is that? Looking good. Now just find a way to incorporate a swing trade so you can reduce those 28 trades down to a single trade. :) With that many trades you will be taxed as a professional trader, and pay tax on 100% of profits instead of 50%. That's a huge hole you will...

The statistical retrace would bring to you to the .38 fib and for a timeline around APR26. As you can see @ expiry if you had buy an APR26 18 strike call you won't fair too well. Buying atm performs a little better, but the risk is also higher, and it still requires a timely move to 17 by APR22...