So Ive worked out a new thing Im doing. Here it is:
First indicator I am going to be using is the Money Flow Index along with the candlestick charts:
During the day, the only time I will make a move is when I get more than a 50 move to the upside or the downside. I circled in red the two times that this happened today. I actually forgot to circle the third time it happened: 20 minutes after the market opened and I faded the gap.
Now, once I get an alert from above, I then move to the chart below:
In the above chart I am reaffirming the signal with the RSI as the main lead, the candlesticks as the secondary, the the Coppock Curve and the EFI as the backup. I tried to whittle the day down to about 3 trading times that I will be trading in order to cut back on the indicator noise, or overload. The following will be my day:
1. I will sell my overnight option from the night before that I held overnight about 10 min after open. More on that in number 4 below.
2. 20 minutes after market open, the gap fade setup should be at its maximum with all the orders being executed in a glut stacked up from the premarket and the night before. I will place a contrary position at this peak and then exit that position about 20 minutes later.
3. I will then watch during the day for any Money Flow index/RSI signals and issue puts/calls from there.
4. 10 minutes before market close I will watch the Bars up Down Strategy: If I get a blue arrow as the last arrow in the last half hour, I buy a call before close and hold overnight and sell about 10 min after open. If I see a red arrow as the last arrow in the last half hour I will purchase a put before close and hold overnight and sell 10 min after open.
Thats pretty much it! I look foward for tomorrow to use this. Of course tonight there is no held overnight put/call so we will start with the gap fade (number 2 above).
Tradinginsider
First indicator I am going to be using is the Money Flow Index along with the candlestick charts:
During the day, the only time I will make a move is when I get more than a 50 move to the upside or the downside. I circled in red the two times that this happened today. I actually forgot to circle the third time it happened: 20 minutes after the market opened and I faded the gap.
Now, once I get an alert from above, I then move to the chart below:
In the above chart I am reaffirming the signal with the RSI as the main lead, the candlesticks as the secondary, the the Coppock Curve and the EFI as the backup. I tried to whittle the day down to about 3 trading times that I will be trading in order to cut back on the indicator noise, or overload. The following will be my day:
1. I will sell my overnight option from the night before that I held overnight about 10 min after open. More on that in number 4 below.
2. 20 minutes after market open, the gap fade setup should be at its maximum with all the orders being executed in a glut stacked up from the premarket and the night before. I will place a contrary position at this peak and then exit that position about 20 minutes later.
3. I will then watch during the day for any Money Flow index/RSI signals and issue puts/calls from there.
4. 10 minutes before market close I will watch the Bars up Down Strategy: If I get a blue arrow as the last arrow in the last half hour, I buy a call before close and hold overnight and sell about 10 min after open. If I see a red arrow as the last arrow in the last half hour I will purchase a put before close and hold overnight and sell 10 min after open.
Thats pretty much it! I look foward for tomorrow to use this. Of course tonight there is no held overnight put/call so we will start with the gap fade (number 2 above).
Tradinginsider
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