Try out StockTwits, I understand that you may not understand what it is or what it provides. So here is a comprehensive introduction from a trader that uses StockTwits like me. It is a very well laid out guide of what it is, what to expect, and who to follow... and not follow. Since I got 1 view about 30 min ago I have since added the chick. Let's see how many I get now, continue reading....
As of late, I have been pretty busy trading and following the price action of the major 3 indices. The price action is not indicative of a healthy market. Did we make new ATHs today? Yep. Was that price action warranted with the news/ and reports coming out? NOPE!
So it is very difficult to trade this market, even for me a professional trader. To combat this issue, I have turned off almost all studies, and the news watching price action and using Fibonacci retracement and extensions.
It does appear that there is a distinct possibility that the Fed will NOT raise rates this month. I have a setup that I am about to deploy to collect the gains on the IV spike in the options chain called a strangle.
This strategy is what I use for trading the earnings, but this time around with what I believe will be more volatile going into Trip witch and not knowing for sure that the Fed will raise this month, I feel the strangle is the best, low cost option for trading a "move" even if direction is unknown. The amount of the move is what warrants this strategy, like in earnings.
Trading straddles, and strangles in any other situation is pretty much net/net, and you would be pissing most of your trading capital away to your broker (who would probably love the idea, as they collect most of the premium). There is a guy on YouTube first name Anton. He brings up a lot of crucial information about retail traders and the mistakes they make, and further how the broker is the one that makes most of the gains against "traders" (not investors).
To keep this short, I will try and remember to do a screencast on this further explaining details. I highly suggest that if you want to trade options that you open paper accts with the broker that you want to use. I use TOS (thinkorswim) trading platform offered through TD Ameritrade. If you don't feel comfortable reaching out to them, or want to use an independent paper acct there are others out there, but I find TOS to be the best, along with tradestation.
So I will end this here. Here is the link to learn about STOCKTWITS, if you are a serious trader, or want to be, this is where it's at for sure.
https://medium.com/@DeathCubeA/a-quick-guide-to-using-stocktwits-2f49463e5c80
Trade well,
Be well,
Stay safe!
Yours in trading
Chris Michaels
It is amazing what visual marketing does. I listen to Greg Mannarino and other gurus on stocks. Blessings.
Good luck with Manarrino. His trading style is not profitable unless used in very high volatile environments, like earnings. Theta and commissions/fees will eat up any major profits. I agree visual enticements, are the way to go. But unfortunately, this place is no different than any other when it comes to eye candy. No matter how much they claim the otherwise lol
I listen to many economists and try to stay away from commissions. Dad introduced me to index funds years ago. Since 2008 the paradigm has changed and it is a crap shoot.
Do you actually short and buy, or are you an options trader? Or even better, do you trade futures, which provides the most ROI, but also the most risk. I trade options and futs
no I have not I would when I understand it better. I am educating myself and am still with indexed funds and sector funds.
Well if you ever have any questions feel free to hit me up. I may not be here but you will always find me on StockTwits ;).
Trade well!
Chris
Oh. Tech is the way to go, IOT baby! But look long and hard at defense stocks with the billions getting vested in there EOM. Good for a pop. Let your dad know too. If we go full scale conflict, HAL is WAYYYYY underpriced. GLTY
I would let Dad know however he died sometime ago. I do not know how to speak to the dead.
Nice eye catching post...
Just stopping by to thank
your for an upvote you gave
me last week...
@pocketechange
no worries man. most views I have received on a blog yet! Barely worth a penny, but the point that I made with all the views after the EXACT same post minus the chick getting 1 view... It tells me exactly what is really important to Steemians. Granted not all of them but probably 20 or so lol.
Good thing is I didn't get flagged yet :)
I see no reason for getting flagged...
But thanks for telling me it's possible...
@pocketechange
The "girl" will get a mute from me, if I see more of her. ;)
That's fine. But my views have increased 600% in 7 minutes, so you tell me was that a correct marketing/ attention grabbing ploy vs your single mute? I am not misrepresenting myself as you can see the preview to the article. So do what you wish. I'm actually starting to realize steemit is not for me. This behavior experiment solidifies that unfortunate realization...
Chris
Agreed, and I am fine with that. :) I am not offended or upset. Just not interested in anything that uses this as a marketing tool. :) You mentioned why you added and I shared what I think.
I fully support your decision!
Thanks. Be well.