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I think you nailed it. Don't laugh, but I think the SPY will end up at a high of 245-249. As soon as that happens look for the euphoria to kick in on the pull back, then a lower high and dump. One last chance for the smart Baby Boomers to get out of the market clean. All the people...

I trade futures, the NQ and TF for the most part, so I can't speak with experience regarding stocks. There are always going to be days when you only get that one chance. However, there is always tomorrow. IMHO, chasing is the worst thing to do. It can put you in the wrong frame of mind once...

I fight the urge to enter early as well. The fear of missing the trade is powerful, especially if you missed an earlier entry. Usually you get a second entry that is more confirmed anyway.

Funny...I'm short NQ 4161 and TF 1003.7 Targets NQ 4108 TF 992 See what happens

It's far from ideal and even for a good trader it is a bit of a white knuckle ride. Not for the faint of heart.

I second this. I have traded a $5k account to over $10K in a week or less on the Russell 2K a few times as a test. You need a very good system with a 75% + win rate and real discipline. That scenario is beyond most most novice to intermediate skill traders. If your taking more than 2-3...

HL = Higher Low IWM = ETF that mimics the Russell 2000, Trade the ETF outright or with options TF = Russell 2K SS = Short Squeeze

You may be right, but the overwhelming negative outlook is exactly what could propel this market out of resistance. I think the market has one last spasm up heading into the presidential election. Then all the longs get kneecapped.

I don't want to speak for OptionGuru, but here is how i look at it. You get your target from your chart of the underlying instrument. Say you see IWM trading down hard into a daily support that just happens to be a 2nd HL. The premium is going to be decreasing as the emotion of the move...

I have been using ADMIS since August of this year, but I am moving my accounts soon. Here are my pros and cons in no particular order. PROS: Very big and stable FCM Looks good to potential clients if you are a CTA/CTO. CONS: Bare bones after hours trade desk Zero visibility of overnight...

I don't use options on individual stocks , only on QQQ, IWM,USO & SPY. But let's take a look at your example. My math may be wrong, but oh well. This option trade would have had a 300% gain ($1.65) overnight, you could have avoided the pattern day trading rule by holding it overnight. You...

I don't know about "better" but you stand to make more on the volatility. Two ways to play it: Risky: All in on a weekly. Better: 25%-30% of trade on the weekly, remainder on later expiration dates. Weeklies are all about catching the right combination of fear or greed, and better pricing...

I like slightly OTM calls or puts when you are right at support & resistance decision points. See if you can time the best premium costs against the decision. Usually you can make 50 to 80% profits just going for inside targets. Every once in awhile you get on the right side of a weekly...

The close tomorrow decides the rest of 2016. It's a bitch because it is OPEX as well. Going to be a crazy Friday.

I know a guy that made a fortune with laundromats. Car washes are a losing proposition if you are located in California.

I'm with you on that. I LOVE options for that very fact. Options allow you to buy half size (relative to point value) if you want as well. Good upside, defined risk and no stops to get run. Just bought IWM 120.5 weeklies as a sim trade to get my feet wet again. I have a fairly consistent...

Very well put. Hard to do with futures though because of holding seven to 10 days and over the weekend. Larger stop is hard to stomach as well. But if it is at a daily support you can get your stop to even pretty quick.

Agree. My reply was a really a brief "sound bite" because I was tired. A very good example of your point is my brother, who introduced me to futures trading. He has developed several very good systems and his grasp of market structure is scary good. But, he has lost his belief in the systems...

When you are on your game...they should be one and the same :)

This is so true! Some of my best days happen with 2 full stops of 2.5-3 pts on the TF. The key is believing your system and executing without a thought (as much as this is possible) of the previous stops. The first stop could happen for any reason. The second one may wake you up to any...