ok guys, I just got great data. Will test on...

This was a very interesting experience today as I just got some great data and found some indicators that I will now try out tomorrow that I feel will give me a nice advance heads up before there are moves. And also, I figured that I will only be using call options for the most part on days when things appear to be moving upwards, and I have not figured out what I am going to be doing on days when the stock is moving down more in general. Lets take a look at the indicator I have figured out that I will be using today and look at what it would have done today (yes, it is backtested):

The above are live level 2 quotes going through a live 5 minute candlestick bar utilizing the RSI and WIlliams %R indicators which I feel give a great livetime forecast on the intraday movements. I look foward to using this tomorrow for the first time in my paper trading. I will need more data for a big down day however. I will assume the RSI will be working in reverse for such a day...as in I will be doing puts for the day instead of calls and everytime the RSI comes up over the 50 mark, then thats time to put option, much as everytime it dipped below the RSI (circled three times here above) I should have purchased a call option.

Tomorrow I will be out for the day and will return on Monday. This is when we take this out for a paper test drive.

Tradinginsider