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TinGull
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Everything posted by TinGull
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I agree in the recent landscape options are much tougher than they were even a year ago. Premiums are stupid cheap and selling them isn't making as much coin for the risk as it used to, and buying them...well, buying is fine to a point, but you do have to increase the risk exposure to make the same amount when premiums don't increase in the amounts they used to. There just hasnt been the volatility in the marketplace since last August to provide a good opportunity, IMO, to trade options.
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One thing for me...holding overnight. I didn't like holding a position overnight and love being closed out at the end of the day.
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Selling spreads limits your risk more than any other strategy out there IMO. You have a limited profit potential, but the risk exposure is much lighter than buying futures...much lighter. And no, selling them doesn't defeat the purpose of trading them, its just another way to trade them. One could always check out Red Option Home Page or Option Planet: Classes for more info on ways to trade options.
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Selling vertical spreads. Why buy the premium when you can sell it. Thats what I used to do prior to getting involved with the temptress we call "futures".
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Just curious...and please don't take this as a personal attack notouch...but isn't a candlestick pattern only a valid one after confirmation? That is what i was taught with candlestick analysis. I might be wrong, so if I am, please correct me. Price stopped dead in its tracks at the 50% retracement of the move down so far. And also, looking at bi-weekly profiles there is a seemingly obvious sentiment change (to me anyways) with the POC heading a touch lower than the last profiles POC, and the value area also falling a bit. I feel its more of a sentiment change rather than a ballistic selloff because of these slighter moves when compared to the late February. If this week again brings in lower value, at that point I'll be more confident in thinking a real change is underway rather than just a smaller "oops". I may be completely wrong, I may be completely right. I've got no clue what it'll actually do, but that's my 2 cents on the subject.
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Dogpile and alleyb, this is really great stuff. I love this discussion about using IBx2 or 3 for price targets. I had never come across this in my studies before, alleyb. Is there a place where I might read more about this? By plotting those on my MP charts, they do seem to be nice places for targets. Thanks again Chris
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I didn't mean for it to sound as an attack against you. I just used the word "you" where I should have used the word "someone". If someone doesn't feel that helping is a good thing, then I wouldn't want to converse with them as thats not the kind of person I like to be around. Sorry if it came across that way...
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"Helping" is what Im talking about. In anything. I dont care what the matter at hand is. If you think about it, whenever you're helping someone, you're always helping them get an advantage over someone else, aren't you? If you're a teacher at a cooking school...you're helping students get a job that someone else who didn't go to the school might not be able to get. My point is, helping is good, no matter what. If you don't feel that helping is the right thing to do, then so be it. You just won't be the kind of person I would ever want to converse with.
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Smaller profits yields better results?
TinGull replied to brownsfan019's topic in Technical Analysis
Wow, nice work! 29 trades...in the morning alone...phew! Im sweatin just thinking about that hahaha -
Smaller profits yields better results?
TinGull replied to brownsfan019's topic in Technical Analysis
With your 5000V charts, how are you placing your stops differently than before? I assume you're taking on a little less risk for a little less reward than before? I only ask because this is something I was grappling with for a while...time frames. I used to trade an 89 tick chart looking for 50 point moves, and then realized the minutia I was seeing wasn't conducive to my targets. I would love to have a couple 20 point trades a day on average, and getting even 20 points off an 89t chart wasn't something that was easy. When I moved to even a 5 minute chart I was able to take out noise and get bigger profits, but had to take on more risk...but got stopped out less. So...maybe its the opposite for you now. Taking smaller profits, smaller risk...but still the same timeframe? Im but only a teeny fish in the pool, and you're tons more experienced than I, but just thought I'd pose the Q since that was an issue I recently worked out with my coach. -
I think those are good classifications. I'm definitely a day trader. I like 1-2 trades a day. Anything more and I really start to feel frazzled and overextended.
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I just think it's good ethics to help, no matter what the circumstances.
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That red line is a previous POC.
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How much MP knowledge did you have prior to the room?
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Pre-Market Discussion for Thursday June 7, 2007
TinGull replied to Dogpile's topic in Market Profile
Also something to consider...the past 2 days price hasn't even been able to retrace more than 50% of it's daily range in the latter half of the session. Both retraced just to 50% and then fell. The YM (market I trade) is trading below a very pivotal area right now. 13450 had formed a V pivot on a 65minute chart, and its like to blow right through that since it didn't form much balance last time price visited here. After that, we've got the 400 area to give us some support. I agree...with the b shaped profile the selling had stopped, and could look for some consolidation before heading lower. I don't think there's much evidence just yet of larger time frame participants getting heavy into the market. I could be totally wrong, too... -
IM definitely interested to hear some about jpj. That completely fits my style of trading. I'd much rather take 1-2 trades a day than 7-10. Its odd that they only do free trials like 2-3 times a year, though. next one is in August....
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Smaller profits yields better results?
TinGull replied to brownsfan019's topic in Technical Analysis
browns, have you changed the timeframe (or...volume frame I guess) you're watching now that you've narrowed down your targets? -
Walter...here's a pic of the single prints that are being talked about... Note the selling tail at the top of the profile
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I dont understand this comment...are you saying that only people versed in MP should visit this forum?
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MrPaul doesn't know what he's talking about....ever! HAHA! jk. he's one of the guys who's been pivotal in my evolution. Welcome aboard!!!
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Exactly. The bane of my existence right there...jumping ship early to find something else. Welcome Steph!! Look forward to seeing charts and helping as we can
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Anyone interested in online real-time chat of MP during market hours?
TinGull replied to Dogpile's topic in Market Profile
During the day I'm usually too busy concentrating (I have an awful concentration problem when more than 1 thing is going on), but I would be interested in some sort of premarket discussion. We have a chat room that can be utilized for this sort of thing. -
Looking like an open below yesterdays lows today...longer time frame participants wanna drive it a bit lower I guess. 13580 area oughtta be a fun one to try and get through. Gonna be tough surfing for the bulls, I think....but, Im not supposed to think, right? Just react....ya...got it.
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Ah! That makes sense. I haven't quite grasped the reason people want to have those expanded IB areas. Haven't found a use for it personally.
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notouch, what are the colors on the left of the profiles signifying on your charts?