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Opening (IRA): ARKK October 18th 36/43/43/50 Iron Fly... for a 3.68 credit. Comments: >35% IV. Doing a smidge of nondirectional here in ARKK, which is toward the top of my ETF board for 30-day IV behind BITO, TQQQ, and SMH (which I already have positions in). Structuring this as a risk one to make one, which is what I like to see out of these. Metrics: Buying Power Effect: 3.32 Max Profit: 3.68 ROC at Max: 110.84% 25% Max: .92 ROC at 25% Max: 27.71% Will look to take profit at 25% max. These generally aren't managed intraexpiry; they work or they don't ... .
AMEX:ARKK
by NaughtyPines
The 20 Trading Lessons from Top Traders I have read a lot of trading books since the time I started trading my own account and the one book that really helps me out and “I wish I’ve read this one first” – is Market Wizards Interview with Top Traders by Jack D. Schwager. Here’s the list that struck me most that I’d like to share: “Early trading failure is a sign that you are doing something wrong; it is not necessarily a good predictor of ultimate potential failure or success.” – Michael Marcus “If you don’t stay with your winners, you are not going to be able to pay for the losers.” – Michael Marcus “Liquidating positions is the way to achieve mental clarity when one is losing money and confused regarding market decisions.” – Michael Marcus “Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep going when the going keeps tough.” – Michael Marcus “Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose per contract. If the meaningful stop point implies an uncomfortably large loss per contract, trade a smaller number of contracts.” – Bruce Kovner “The times when you least want to think about trading – the losing periods – are precisely the times when you need to focus most on trading.” – Richard Dennis “Everybody gets what they want out of the market.” – Ed Seykota “It is a happy circumstance that when nature gives us true burning desires, it also gives us the means to satisfy them.” – Ed Seykota “Frankly, I don’t see markets; I see risks, rewards and money.” – Larry HIte “ I have two basic rules about winning in trading as well as in life: 1. If you don’t bet, you can’t win. 2. If you lose all your chips, you can’t bet” – Larry Hite “In my judgment, all traders are seekers of truth.” – Michael Steinhardt “The more disciplined you can get, the better you are going to do in the market. The more you listen to tips and rumors, the more money you’re likely to lose.” – David Ryan “When the market gets good news and goes down, it means the market is very weak; when it gets bad news and goes up, it means the market is healthy.” – Marty Schwartz “Learn to take losses. The most important thing in making money is not letting your losses get out of hand. Also, don’t increase your position size until you have doubled or tripled your capital. Most people make the mistake of increasing their bets as soon as they start making money. That is a quick way to get wiped out.” – Marty Schwartz “The best traders are the most humble.” – Mark Weinstein “You have to learn how to lose; it is more important than learning how to win.” – Mark Weinstein “Most traders who fail have large egos and can’t admit that they are wrong. Even those who are willing to admit that they are wrong early in their career can’t admit it later on. Also, some traders fail because they are too worried about losing.” – Brian Gelber “You are never really confident in this business, because you can always be wiped out pretty quickly. The way I trade is: Live by the sword, die by the sword. There is always the potential that I could get caught with the big position in a fluke move with the market going the limit against me. On the other hand, there is no doubt in my mind that I could walk into any market in the world and make money.” – Tom Baldwin “Clear thinking, ability to stay focused, and extreme discipline. Discipline is number one: Take a theory and stick with it. But you have to be open-minded enough to switch tracks if you feel that your theory has been proven wrong. You have to be able to say, my method worked for this type of market, but we are not in that type of market anymore.” – Tony Saliba “ How do you judge success? I don’t know. All I know is that all the money in the world isn’t the answer.” Tony Saliba There’s still a lot of golden information that I want to write in here – for ourselves and for everyday reading so as to keep us aligned with our trading goal, but I prefer to encourage you to read the book.
NASDAQ:QQQEducation
by blue039
2
Double BottomThis is it folks. I am calling the start of the bear market today. This is the final blow off top with the reaction to the Chinese Govt plan to save their economy. A major offensive to save an economy ALLWAYS is a sign of desperation and failure. We are looking at a world wide economic crash over the next year that has already started. This euphoric high is a manipulated exit for institutions to dump into. Historically we are looking at a 60% drop in the S&P in the coming months.
NASDAQ:SQQQLong
by Earthmatrix
2
Is Silver in the middle of a extended Wave (5)?What Is a Wave 5 Extension? When both Wave 1 and Wave 3 have moved in a fairly standard fashion, traders often expect Wave 5 to be where we see the extension. Wave 5 extensions in commodities occur when the final leg of a price movement stretches out longer than anticipated. These tend to happen because momentum lags, but optimism still remains high, particularly among retail traders who are often late to the party. The current graph of Silver is a perfect Elliott Wave impulse, that will be used in the history books. Are we correct in predicting that there is a high change that Wave 5 extends? That it could be between 100% up to162% of Wave 1, projected from Wave 4. Will Silver go to 34.32 - 42.54 before the end of the year?
AMEX:SLVLong
by integer256
$DIA Analysis, Key Levels & Targets for Day TradersNo video again tonight but here is the trading range. DIA broke the 35EMA support and dropped down to the top of the FOMC gap. It didn’t fill it, like IWM did, but those two gaps are on deck, especially with JPOW speaking today and we have GDP as well. We broke the 35EMA, but we are still above the 30min 200 which makes us neutral, but also makes the 30min 200 an attractive target to the downside. GL, y’all… I’ll keep you up to date on the wifi situation and hopefully videos will resume soon.
AMEX:DIA
by SPYder_QQQueen_Trading
$IWM Analysis, Key Levels & Targets for Day TradersNo video again tonight but here is the trading range. IWM had a big drop yesterday, outside of the implied move, so watch out for volatility, and it filled both FOMC gaps, the one before FOMC and the one after. Looks like this moving averages are on deck. Look to the 35EMA as a possible resistance even though we are still above the 30min 200MA which actually makes us neutral. GL, y’all… I’ll keep you up to date on the wifi situation and hopefully videos will resume soon.
AMEX:IWM
by SPYder_QQQueen_Trading
$QQQ Analysis, Key Levels & Targets for Day TradersNo video again tonight but here is the trading range. Implied move is between 481-488, and the next day’s is much wider so definitely look out for those strikes since we’re above the top of the implied move right now with where futures take it so be careful if we open elevated and don’t get back into the implied move right away, that’s a squeeze setup right there. Also pay attention that it’s a gap up right into a bear gap so expect a bit of a fight here. Don’t forget Powell speaks today in the morning and we have GDP both of which could bring that down, but if we stay elevated be careful of a squeeze. Stupid Willy is pointing down. 35EMA has been holding us up since FOMC and it’s right in the middle today. GL, y’all… I’ll keep you up to date on the wifi situation and hopefully videos will resume soon.
NASDAQ:QQQ
by SPYder_QQQueen_Trading
$SPY Analysis, Key Levels & Targets for Day Traders for Sept 26No video again tonight but here is the trading range. Implied move is between 566 - 573 on the day. We’re above the top of the implied move right now with where futures take it so be careful if we open elevated and don’t get back into the implied move right away, that’s a squeeze setup right there. Don’t forget Powell speaks today in the morning and we have GDP both of which could bring that down, but if we stay elevated be careful of a squeeze. Stupid Willy is pointing down. 35EMA has been holding us up since FOMC and it’s right in the middle today. GL, y’all… I’ll keep you up to date on the wifi situation and hopefully videos will resume soon.
AMEX:SPY
by SPYder_QQQueen_Trading
14
QQQs Break Above Unique High Level On Moderate VolumeAnother sign the markets are attempting to break away from sideways/topping patterns is today's closing price on the QQQs. Today's close above the Unique Fibonacci Price Theory High suggests the QQQs are attempting to break away from the Excess Phase Peak pattern and will likely attempt to move up into the 501-502 price range. Remember, the first rule of Fibonacci Price Theory is Price must always attempt to reach new higher highs or lower lows. When it fails to make a lower low, it must roll over and attempt to reach a new higher high. In this case, as we neared to top of the Excess Phase Peak pattern, the Ultimate High, price would either fail to make a new higher high (and attempt to roll downward) or it would break to a new higher high (thus confirming price is still in a Rally Phase). Today's close means my analysis of the general markets moving into a "cleared for takeoff" rally phase is starting to become much more valid. We have broken above the Ultimate High on the QQQs with moderate volume. Now, we should expect the QQQs to attempt to move higher - toward the 501-502 level. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
NASDAQ:QQQLong
by BradMatheny
Potential Harmonic Bearish Butterfly Could Push QQQ to $525+Here I have Invesco Trust NASDAQ:QQQ on the Daily Chart! Invesco Trust NASDAQ:QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy. Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern! Harmonic Butterfly X - B = .786 A - C = .382 - .886 B - D = 1.618 - 2.24 X - D = 1.272 - 1.618 If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! ) Fundamentals: * Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back! *Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking Friday, Sept. 27th: Core PCE Index Indicators: - Price is trading Above the 200 EMA - RSI Above 50 - Bullish Volume Building
NASDAQ:QQQLong
by Novi_Fibonacci