Three Charts

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MightyOne
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Re: Three Charts

Postby MightyOne » Mon Feb 22, 2016 8:10 pm

Someone who follows ICT, explain this trade to me.
ICT_COME-ON_MAN.png
ICT_COME-ON_MAN.png (9.62 KiB) Viewed 962 times


What are you going to do if you get a 40, 60, or 140 pip downward spike? Blow up?
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Re: Three Charts

Postby Goonslinger » Mon Feb 22, 2016 8:55 pm

At least this time he's using a demo account.
"So let it be written; so let it be done."

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MightyOne
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Re: Three Charts

Postby MightyOne » Mon Feb 22, 2016 9:18 pm

Goonslinger wrote:At least this time he's using a demo account.


All that he has to do is:
1) limit risk
2) scale into good trades
3) scale out when in profit

More risk is more risk, more profit is more profit.

jrtrading
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Re: Three Charts

Postby jrtrading » Mon Feb 22, 2016 11:50 pm

MightyOne,

I hope it is OK to ask an option related question related to accumulation.
Not formulated well, in part because I trade only the basic option strategies, but hope it is clear enough.

Some of the benefit of buying vanilla options is the possibility of leverage with limited risk, without the need for a stop loss.
(If trading stocks this is beneficial, because they could have significant changes in value due to e.g. overnight news.
This allows leveraged positions to be held overnight without excessive risk)

A benefit of trading FX is that I can use tight stops with small spreads - I could effectively double my space in 10 pips or less.

Do you find the accumulation process to be different when trading vanilla options rather than e.g. spot FX?

The things I have been learning in your thread -
can I do the same with vanilla options (including accumulation on small charts / tight stops) ?

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MightyOne
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Re: Three Charts

Postby MightyOne » Tue Feb 23, 2016 3:13 am

What are you going to do if you get a 40, 60, or 140 pip downward spike? Blow up?


Just as I had feared, he'll let his account go to zero before he takes a loss.

I hope that this account is not meant to be an example for others to follow...

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Re: Three Charts

Postby MightyOne » Tue Feb 23, 2016 3:55 am

jrtrading wrote:MightyOne,

I hope it is OK to ask an option related question related to accumulation.
Not formulated well, in part because I trade only the basic option strategies, but hope it is clear enough.

Some of the benefit of buying vanilla options is the possibility of leverage with limited risk, without the need for a stop loss.
(If trading stocks this is beneficial, because they could have significant changes in value due to e.g. overnight news.
This allows leveraged positions to be held overnight without excessive risk)

A benefit of trading FX is that I can use tight stops with small spreads - I could effectively double my space in 10 pips or less.

Do you find the accumulation process to be different when trading vanilla options rather than e.g. spot FX?

The things I have been learning in your thread -
can I do the same with vanilla options (including accumulation on small charts / tight stops) ?


I have never traded options on stocks.

I stick to commodity options (Gold, Rice, Coffee, Cattle, etc) for the most part.

When trading vanilla options your focus in on getting a good price with at least 3-4 months until expiry.
What is a good price? You have to look at what it was trading for over the life of the option.

1) You will purchase calls when price is falling or no one is watching (OTM options).
2) Depending on how many options you have purchased, you will sell the options and buy the outright;
using the profit as your "space".
& there are a lot of things that I will not say because I don't want you to harm yourself :lol:

jrtrading
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Re: Three Charts

Postby jrtrading » Tue Feb 23, 2016 7:05 am

MightyOne wrote: I have never traded options on stocks.

I stick to commodity options (Gold, Rice, Coffee, Cattle, etc) for the most part.

When trading vanilla options your focus in on getting a good price with at least 3-4 months until expiry.
What is a good price? You have to look at what it was trading for over the life of the option.

1) You will purchase calls when price is falling or no one is watching (OTM options).
2) Depending on how many options you have purchased, you will sell the options and buy the outright;
using the profit as your "space".
& there are a lot of things that I will not say because I don't want you to harm yourself :lol:


Well, thank you for thinking of me :lol:

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Re: Three Charts

Postby jrtrading » Tue Feb 23, 2016 9:36 pm

I wanted to post the first option accumulation trade made - my old ways.
It was on the stock MU and the reason for the trade was the general bearishness
of the chart and also because the S&P500 index was at resistance level.

Exited for about 1% profit of the account.
The option appreciated 25%.

MU.png

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laksh
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Re: Three Charts

Postby laksh » Wed Feb 24, 2016 1:27 am

MightyOne wrote:
What are you going to do if you get a 40, 60, or 140 pip downward spike? Blow up?


Just as I had feared, he'll let his account go to zero before he takes a loss.

I hope that this account is not meant to be an example for others to follow...



Was going through the link you posted and somehow got to ICT''s twitter handle. Then found this.

https://twitter.com/Savay_Trading/statu ... 1182405632

jrtrading
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Re: Three Charts

Postby jrtrading » Wed Feb 24, 2016 8:47 am

Don't be fooled by the apparent concerns on twitter, they are mocking him.

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