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Member’s Video for Friday, March 9th, 2018
Indexes made a run towards the top end of resistance, but do they have the juice to push through? This kind of market is a strong “I don’t know” and I’m not ashamed to say it!
Elliott Wave International Webinar Replay http://gainesville.elliottwave.com/t/271285/6991741/260168/24/
Paul Tudor Jones Video – https://youtu.be/-38x671CUQw
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Todd’s Trading Lifestyle Vlog #37 – Colorado Family Trip With A Touch of Dysfunction
Join us for the back-half our trip to beautiful Colorado for a family reunion and most importantly to celebrate Grandma’s 90th! In my usually dysfunctional manner we take the kids to a brewery and then a distillery and explore other cool parts of Colorado
Yes, please do the extra typing. Sometimes it’s hard to figure out, especially if there’s something custom about it. The plain English is very helpful.
Yes please keep doing the explanation on the text. I am still learning on placing options orders.
You could do half the typing. The date is obvious, but buy / sell which one helps this newbie. Cowabunga!
I say keep typing them out.
Thanks Todd
I don’t need the extra verbage to read the trade!
Keep doing what you are doing on the trade set ups. If you want to cut and paste that’s fine.
Don’t waste your energy on the complaints. Most times the masses just like to complain and find fault.
We all make mistakes. I appreciate all your efforts in making me money! The masses are asses, if you know what I mean. Thanks.
Concerning the typo: Firstly I’ve never done or seen a Diagonal trade so problem number one. But as I read the text I’m still kinda sideways concerning the text. Here is the Text –
INTC Trade Update** Normal diagonal: SELL -5 DIAGONAL INTC 100 (Weeklys) 23 MAR 18/16 MAR 18 52/54 CALL @.95 LMT (buy the 23 MAR 52 calls, sell the 16 MAR 54 calls for a debit of $0.95 or less. If you want the ratio, sell an extra 54 call for a debit $0.75 total. -TG-
So I went to the 23 Mar 18 options page and selected the 52 Call strike and did a Sell Diagonal for a -5 lot. That gave me a short credit spread that looked like this SELL -5 29MAR18 52.5 CALL STRIKE AND A BUY +5 16MAR18 52 CALL STRIKE so then I merely changed the expiration to SELL -5 23MAR18 52 STRIKE AND A BUY +5 16MAR18 54 STRIKE which is how I read the Copied Text. TOS says this is a Short Credit Spread.
Now the next in the parentheses made more sense and which was to Buy the 23MAR18 52 strike and Sell the 16MAR18 54 contract which is a Lone or Bull Debit Spread. So to me it looks like your text in the Parentheses is correct and the TOS copy is not. Am I wrong?
Man I apologize for this detailed and lengthy comment. I know you have your hands full and I the last thing I wish is to be a bother. Sorry!
The cut/paste directly from the TOS trade bar, without English comments, is best during fast moving markets. It also explains the trade size value, ie: +1. That was a confusing entry in light of the introduction video discussion on trade sizing with 1, 2, 3.
Typos are the common error but the plain english means a lot to novice traders learning to get involved in spreads. So, don’t get bothered about such comments.
Yes, please continue with the additional detailed text instructions; VERY helpful for us who are just new trading options.
Yes, continue with additional detail especially as advanced spreads become more regular and also the tier level has to be added either way.
Todd and Nick,
Here are my original thoughts of the email that you asked me to place here!
Fellow and Lady Members,
Historically, the market has a yearly cycle pattern as Fibonacci shows. Todd’s charting is accurate, but it is not a perfect world for Fib or my yearly cycle patterns. Generally and historically, the beginning of March can be volatile with a lift in the market at the beginning and then a downturn after the first 10 days pointing towards the the 16th thru the 20th, as a completion of the cycle . Then the market could move back back up.
Any trade that is already in progress, you could add the sell of call spread to the trade and giving yourself a safe expiration of the 16th. This could make it a butterfly or a Christmas tree, which I have learned recently. This similar to a butterfly, just an added sell of a call spread. Thanks, Todd!
Ron
I would like to say that I base the above information on cyclical economics, cyclical earnings reports and existing politics.
Please continue with the extra verbiage. I’ve executed well over hundred option trades and still don’t know the lingo. (My fault for not spending the time to learn.) I didn’t even know there was a typo since I executed based on the AM text rather than the previous day’s PM text. Please send out text if you find out there is a typo.
There was a chart you’ve shown a couple times having to do with increased market price swings leading up to market top. Seemed like a 6-18 month lead up to market top. Might be helpful if that chart was in the chart room and updated once every other month or every quarter.
Thx.
Please keep adding your part to the texts. Copying and pasting from TOS doesn’t offer the detail. Detail is good, and if there’s an occasional typo, we can deal with it. Typos happen. And actually, I didn’t understand the text either, so I didn’t put the trade on then, but did the next day. Not a big deal.
I’ve been a member (actually now former member) of other trading forums, but they do not compare to what you offer and do. So, please continue to offer all that do!! It’s/you are awesome, educational, and offer what I’ve been looking for! Thank you!
Yes continue with the plain language. Maybe do a video on the breakdown of the TOS trade bar text. I can’t figure out what the Sell -1 2/-1 means in the first text. If they were all like the one in this video it would be easier for me, but some start with -1 but are still debit spreads not credits.. So I think stick with the way it is. Obviously if people called and emailed they knew something was wrong so that’s a good thing. You must be doing something right… P.S. This is my first week.
Hi Todd, please keep the full details of option trades, even if there are typos…good job…thx