JamesSierra Journal

Discussion in 'Journals' started by JamesSierra, Oct 27, 2021.

  1. Opened new option trade. This is what I am looking at. I am seeing a narrow channel in a larger one. My guess is we are at point where QQQ will test the narrow channel support at around 388.50 then maybe test the support around 387.50 in the big sideways channel. Bought 4 388 Puts. Filled @ 2.14 each.

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    #11     Nov 2, 2021
  2. schizo


    At this rate, I don't think you'll be able to get a house in this lifetime. But good luck all the same!
    #12     Nov 2, 2021
  3. So far I can buy a dog house with my profits! I sold the four options. While waiting for a sell signal I added the S&P 400 line to look for a change in direction or momentum. Saw that in box 1 on chart. QQQ was sideways to down while the S&P started an up move in box 1 and accelerated that up move in box 2. The S&P line then crossed the QQQ and the two inverted with the S&P on top and QQQ on the bottom. Got filled on the sell @ 2.71 Profit for today was $226.70 Total account profit is now at $513.70

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    #13     Nov 2, 2021
  4. Trading the Fed news today. The S&P 400 already reacted to news that does not exist yet! No statement till 2PM as far as I know. The hand there shows what the S&P did at open today. QQQ is like, "we don't know what the news will be." I think I mentioned it somewhere else in this thread, but the indexes tend to move together. They can come together, cross each other one way or the other and move apart. But when you zoom out on charts, they tend to follow each other.

    It's a gamble which way the market will go when news hits, but the fact the S&P already moved up makes me think the QQQ is going to go up so placing a QQQ Call option bet here. Plus these indexes tend to move together and they are pretty far apart so either the QQQ is going to move up or the S&P is going to move down. Bought 4 QQQ calls at 1.97
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    #14     Nov 3, 2021
  5. QQQ been going sideways till the news hit at 2PM. The channel range sure got tight there in the box. It's like something compressing more and more until it explodes. Volume exploded there at 2PM as well as range. Saw the hefty down moves as well so set sell stops at 388.5 in my head on the support line. If I'm watching the trade live no reason to set automatic stops.
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    #15     Nov 3, 2021
  6. Exited trade a few minutes before market closed. Profit of $830.80 Total account profit now at $1344.50
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    #16     Nov 3, 2021
  7. Overnight


    I call that the "coiled spring" effect. You might see that again at 0830 hours EDT on Friday.
    #17     Nov 3, 2021
  8. Seems interesting to me that the QQQ ended up at the same high the S&P 400 made there at the open. Also, the two indexes were together at #1, then separated, then came back together at close.
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    #18     Nov 3, 2021
  9. My account profit right now is $1344.50 but remember my goal is to buy a house! So going to be a bit aggressive here. I am going to risk pretty much my whole profit on this trade. But it's winnings so meh lol. Buying 6 Nov 8 puts in QQQ at strike of 398 . This could be really good or really sucky! Max loss of $1320 possible. That would leave me $24.50 in profits to have a pizza party!
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    #19     Nov 4, 2021
  10. Not looking horrible for my puts but not all that great either! At least seeing down in the after hours and futures.
    Sunday around 7PM

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    #20     Nov 7, 2021