Overall we had a pretty light week in the group, with FOMC on Wednesday it was only good for scalping. Monday, Tuesday, and Thursday were overall pretty normal but choppy still. The big payoff in analysis and patience came Friday on a unique quad witching day, with some large gains. SPY overshot our target by three cents making it an excellent trade with a nice big dip.
Getting behind on last week so catching up. Last week was choppy at the beginning so we had to capitalize on small moves. A couple plays didn’t work out but we did really well overall considering the low volatility.
We did get to play a M-W-F play all three expiration days last week, Friday’s was a little trickier with volatility at the end of the day. I put the closing price down but I closed the call side about ten minutes before close pretty cheap. Monday and Wednesday were fairly easy though.
Only one earnings play last week, HD, and they had a bad surprise and lowered forward guidance to boot so it went way outside the expected move. Was better to swing puts on the drift. Play the drift! Though I wrote it a loser, this one was easy to roll further out to collect more credit if you had the capital, or turn inverted.
Holding a DIS call butterfly from Friday that I’ll post the results for this Friday. Looking forward to a short week of gobble gobble trading!
We had a really good week this week. Traded a lot less, especially Monday with bank holiday. First of all, day trades were 100%. There were a lot less of them than last week, but the gains on each were good and SPY mostly went one way and there wasn’t a ton of setups. So we played that direction. Biggest winner was the call today which I actually played multiple times.
Next, our SPX MWF expiration day trades. I’m encouraged by all the people who said they started trading it this week, and yeah you don’t make that many trades and they are kinda boring but they make money! We haven’t had a loser since the group started and only needed to manage one. IV is really low right now so we aren’t collecting a ton of credit but we will take what the market gives us.
Earnings trades were okay this week, with the iron condors working great while CSCO and NVDA disappointed on their earnings move. JD butterfly played well if you closed it early.
On swing trades, we only opened one new swing and that was the SPY call yesterday following the big money trades. It worked out great obviously. But the best trade in my opinion was the free TSLA trade. It was free because we sold a put vertical to pay for the butterfly, essentially netting out the cost of the butterfly and creating a no-lose scenario. It ended up being a big profit on both the vertical and the butterfly!
All in all a great week with an appropriate number of trades and plenty of winners. Can’t wait for next week!
Well last week was tough because the market was mostly consolidating during the day. We had a few nice intraday moves but I was mostly annoyed at how sideways SPY was, plus there were plenty of patterns that just didn’t play out like our golden cross on Tuesday. Here’s the results from the day trade alerts. A lot more trades than usual because I was scalping and the range was tighter, so fains weren’t what they usually are.
I only played one SPX MWF trade because volatility is so low this week that there was never a good risk vs reward play, but by week end I finally decided to go for it since volatility proved to be low and it worked out.
Earnings trades have definitely slowed down but we did have a few and they all worked out pretty well. I enjoyed these sincethey were fairly low risk vs reward plays, and gave us a decent profit with 100% wins.
And lastly swings. I was able to close out some swings from last week, RAD worked out amazingly but gold has decided to go the opposite direction of its breakout and failed to continue, so I took a loss on that one. RAD and WFC more than made up for it though. I am waiting on gold to find support again before getting back in. And we have a few swings still open including our free TSLA swing!
All in all, day trading was tough but the other plays more than made up for it. It’s week like these where you size your day trades smaller since the market is tougher, and just wait for normal trading to resume. Swings and other plays are still working nicely.
Had a pretty good week last week, market was pretty boring though until Friday. With the market going up so high it’s surprising how many put day trades we made but they were mostly profitable. Most of the lift happened overnight so we were playing pull backs. Maintaining an above 80% win rate with two over 200% plays. Here’s the day trades:
We only did a couple SPX MWF plays because volatility is super low right now, but we had the Fed FOMC meeting day to play a nice iron condor. I also played a butterfly but it did not go as low as I expected, so I took a small small profit when I had a window to do so.
We have a few swing plays still holding, looking forward to new market highs!
Trading recap week of October 21. Whew what a week, markets are finally moving again and lots of great earnings and huge plays. First off, day trades which were a little sparse because despite earnings SPY was remaining in consolidation until Friday. So we played plenty of swings and earnings to make up for it. Still really good win rate on day trades below:
We did one SPX expiration day play on Friday which was a winner
Now, earnings season has kicked off so there were a lot of earnings plays. A variety of iron condors and butterfly in this list depending on the stock and the setup, MCD totally missed and that was a big surprise. AMZN also missed but the iron condor ended up working perfect.
We also had several swing trades that were all winners, though DAL was a bit harder and I’m actually still holding that one since it’s a small play. SQ had a sympathy move off PYPL, CRM had some unusual options activity, and HD was just a trend line play. But TSLA was the big one on an earnings gap and go. This one should keep running into next week.
A great week of plays and I’m looking forward to the next one!
Trading recap week of October 14. Had a pretty decent week with earnings just getting kicked off and a few good plays on SPY and NUGT. A lot of consolidation still so it was rare to catch a big move but we played some decent plays anyways. Several swings are starting to make a nice setup. Win rate back over 80 at 87.5% on day trades! Here’s the trades:
Only played one SPX expiration day play this week, but it was a complete winner as usual
And only one earnings play alerted which didn’t go 100% in our favor but I closed out and still made decent money. I did something a little different this week and called playable earnings setups for members to play since there are so many earings, and not all had high enough volatility or expensive enough options or enough options activity to make a play pre-earnings release. But we did play the drift on several like JNJ and made really good money. I did not alert these, so they are not listed below, but all the plays on the drift worked out if you could watch and take advantage of the setups. I love earnings!
All in all a great week and I’m excited about the earnings season kicking off!
Getting caught up on recaps again, this is week of October 7. The market was still settling down and we didn’t find a lot of good plays, but still had a few really good ones. 75% win rate on day trades puts us back into action with where we had been. Still lots of fake-outs, like the CRM play that just never materialized. None the less, great week.
No earnings plays or SPX plays, and two swing trades. Hit it high with T and lost a little on SPY, but overall pretty good with swings still.
Looking forward to markets getting back to normal, this is definitely consolidation.
Getting caught up on weekly recaps, This is from week of Sept 30th. We had a very hard week day trading because the market was so choppy and contrarian. We saw lots of fake-outs and patterns that normally work did not. Lots of news as well and the market was on edge about anything and everything. Our win percentage shows it, and while we took advantage of some great plays we also got stopped out a lot. These are the weeks when you find out if you have what it takes to be a trader, and if you truly understand trading discipline. It is the market’s job to take your money. It is your job to keep more than it takes.
Managing risk, when you decide to take trading and investing in your own hands, is the part you are taking control over. That’s why most people give their money to others to manage. Managing risk takes discipline. I personally sized very small on day trades and won very large on swing trades to make up for it.
Let’s look at the day trades:
Now the #spx-mwf-day-trade paid off as they typically do. We went two for two with a decent ROC for the week:
No earnings that week, but we did manage to close out some very nice swing trades on SBUX and DIS
Congratulations to those who managed their money well. If you stayed on the sidelines, that was probably a smart move. Once you get a feel for the market and you know something isn’t right or just not your cup of tea, be okay sitting on the sidelines until things get back into rhythm. This was a great week for that, and we still managed to have some nice winners so all in all not bad but definitely looking forward to when the market gets back to normal.
Wow so last week was even more volatile than the week before, and we caught the right side of some trades that ended in huge day trade gains! Wednesday we shot a blank and had two trades we got stopped out on, but the days surrounding it more than made up for it. So did the SPX Iron Condor Day trades.
First trade was a put swung from the Friday prior alerted by @Batman (Mr. Patience) which yielded as high as a 172% gain holding for two days.
For the day trades, while Monday was unexciting Tuesday and Friday saw winners over 400%! I spotted some awkward tape activity that coincided with price action patterns, and we played into them at the right time to capture some massive gains. Like I mentioned Wednesday I let me bearish bias go against me, ending a three week all green streak. Nevertheless, these were some great trades
Lastly and definitely not least, the SPX Iron Condor Monday/Wednesday/Friday day trades. I know not a lot of people are playing these potentially because either a) they aren’t as exciting as day trades, or b) they don’t understand how to play iron condors (maybe both). But if you look at our win streak (100% since we started the chat) this should peak your interest.
Why do I play these? Well, they are great plays if you only have three day trades a week. And often you can let it expire worthless, so it doesn’t even count as a day trade. Second, it’s a great play that doesn’t require you to watch the market during the day. Lastly, they are lower risk. An iron condor is simply using statistics to calculate a trade with a very high probability of success (usually over 75%). For me, I typically use the day trade alerts in my trading account and these plays ( #spx-mwf-day-trade ) I trade in my IRA. It’s definitely worth taking the time to watch the videos I’ve made and study iron condors, they are a powerful tool that options enables us traders to take advantage of time decay (theta) and ride the trade until the end of the day.
Great week last week, again ask all the questions in the chat you may have. This is a learning group and as you can see there is SO MUCH potential in only trading the S&P 500 (via SPY and SPX). No need for scanners, no need for learning a new stock, just analyze the same one over and over until you know it like a lover. Okay now I’m revealing too much… Thank you guys for being here and let’s get at it again this week!