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Member’s Video for Monday, March 26th, 2018
Exact same headline as last video – WOW – all I can say is WHAT A DAY. We made some serious money on the short side….
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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
If I remember right, in “leading Triangles” – waves A & 1 – waves 1, 3, & 5, subdividing into “5 waves”, NOT “3 waves”, like an “ending triangle”. Your wave 1 from Mar 13th has sub-divided into ‘3’s. Fortunately, it doesn’t matter, it’s ‘still’ wave 1.
But, it’s ‘my instinct’ that says the waves that follow are a series of ‘1’s & ‘2’s, and we’re goin’ over “the edge”. In spite my agreeing with you that there could be another impulse up before the “final top” is in.
All that said, “you’re good shit”, “enjoy the hell outta it”.
Hey Ian,
There is some uncertainty about leading diagonals. I have read from EWI that can be 5-wave structures or 3-wave structures within waves 1,3, and 5 of the leading diagonals. I’ll have to ask EWI about this.But as you say, if a move is just getting started, either A of an A-B-C or 1 of 1-2-3-4-5, then I’m not stringent about identifying the perfect pattern.
Regarding your instinct, you have to trust it! But I’m not totally following. Any way you can link to me to a chart? I”m a simple kind of guy. I like pictures 🙂
Come up to Soldotna, we’ll go King Salmon fishing.
Good morning, I attempted to place the SPY vertical spread but I have an account less 20,000 and my trade gets rejected. I don’t have the buying power with the smaller account. Are there other options for people with smaller accounts? Thanks.
Ernest, it probably has to do with your Option trading level, you should request Level 3 from TD Ameritrade then you should have no issues, even with a $20k account. Also, if an IRA account, you cannot be short only. So be sure to enter spreads as a vertical and exit as a spread or exit the short side first if legging out.
Todd,
I guess I have to comment on the opposite side of your enthusiasm. And I’ll start by saying I understand the risk and deal with it otherwise as you say you have to question whether trading like this is right for you.
Didn’t get in on the SPX trade (also you didn’t label a tier on that trade). Tried to send in the trade about 10 minutes after you sent the text and the price was all over the place and could never get filled. I adjusted up from your price but still couldn’t get filled.
I’m in probably 99% of the trades you put out and unfortunately this big winner I miss out on. I’m still down pretty good on the 2 or 3 other SPX butterflies we put on recently so unfortunately my account isn’t up like yours.
Again I get the risk and plan to stay the course. Love the combination of education, market insight, and trade suggestions your service offers (along with the personal touch in the videos). Its the best service I’ve joined to date (although I also like WallStreetio that you recommended) Just wanted to give feedback that wasn’t quite as upbeat. Hopefully I’m in the big trade next time.
Thanks,
Steve