Alibaba Group Holdings Ltd.Updated BABA calendar spread straddle idea
BABA is at the lower end of it's ytd upward trend channel (Reuters 12/2) - The U.S. House of Representatives passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they adhere to U.S. auditing standards." It's actually a good law to protect US investors from another Luckin coffee. lol. I saw this as a good entry for a BABA265straddle12/11-12/18. This gives me a week to profit the price action on the put side and 2 weeks to profit the price action on the call side. Either way I'm covered for the future price action with risk management. The only potential losing part of this trade is the theta, time decay, that's why I entered a straddle during a newsworthy current events timeline expecting near future movement. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading 101*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
tradingview.com/u/growerik/
tradingview.com/gopro/?share_your_love=growerik
*3x lucky 7s of trading 101*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
tradingview.com/u/growerik/
tradingview.com/gopro/?share_your_love=growerik
Note
(Reuters) - "Chinese e-commerce company JD.com said on Saturday it has become the country's first virtual platform to accept Beijing's homegrown digital currency."
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.