Kelly 9:04 am on Wednesday, January 11, 2017
Tags: SPXcampaign ( 2,265 )

We are now starting to…

We are now starting to measure volatility spikes in minutes. That market sell off didn’t last long.

fuzzballl 9:06 am on Wednesday, January 11, 2017

I’ve got a feeling “The Donald” will be giving us quite a few of these. 🙂 🙂
fibwizard 9:13 am on Wednesday, January 11, 2017

Intra-day moves arent what i consider a selloff…But they are nice for intraday futures income…
- fibwizard 9:23 am on Wednesday, January 11, 2017
  
  Fuzzy,
  
  20 points in ES so far at 50/point..5 contracts, for a 5K gain today…and still counting…this is fun…
  - fuzzballl 9:24 am on Wednesday, January 11, 2017
    
    Nice!
  - optionshane 9:25 am on Wednesday, January 11, 2017
    
    Nice trading fibwizard.
    - fibwizard 9:31 am on Wednesday, January 11, 2017
      
      Get in at one pivot point, and reverse it when it bounces at the next pivot..makes entry’s and exits easy…
      - fuzzballl 9:32 am on Wednesday, January 11, 2017
        
        Are you flipping those back and forth…playing from long and short side?
        
        fibwizard 9:37 am on Wednesday, January 11, 2017
        
        No, when the ES started down while ago with Volume > 20K, I shorted 5 contracts..when it bottomed at the S1 pivot, and turned up, I reversed my trade as Volume was still above 20K..when it moved back up to the center Pivot, and stalled, I exited my long…the whole move was worth 20 points, 10 down, 10 up..for about a 5K gain in 45 mins…
        
        fuzzballl 9:38 am on Wednesday, January 11, 2017
        
        That’s what I was wondering…so it sounds like you are playing it long and short. Nice!
        
        john4419 10:09 am on Wednesday, January 11, 2017
        
        Would appreciate if you could explain what ES stands for! Sorry is this appears to be a stupid question.
        
        fibwizard 10:16 am on Wednesday, January 11, 2017
        
        ES is the SP500 mini contract in Futures markets..it mirrors the SPX index..
        
        /ym = Dow 30 Mini futures contracts
        /NQ = Nasdaq 100 Futures
        /ES = SPX or SP500
        /TF = Russell 2000 Futures contract
        
        fuzzballl 11:40 am on Wednesday, January 11, 2017
        
        Here’s a few more I follow. The slash is a TOS symbol…think other platforms use other symbols to denote futures.
        
        /CL crude oil
        /DX dollar
        /GC gold
        /NG nat gas
        /VX VIX
        /ZB bonds
        
        john4419 12:04 pm on Wednesday, January 11, 2017
        
        Much appreciated, I entered the ES ticker in Schwab under /ESH7 which is their equivalent. This denotes March 2017 this does not have options, am I missing something?
        
        fuzzballl 12:07 pm on Wednesday, January 11, 2017
        
        It has options…showing all the same expirations as SPX. Monthly, weekly, Wednesday, etc.
        
        fibwizard 12:12 pm on Wednesday, January 11, 2017
        
        John,
        
        The Futures mkt trades contracts that you either go long or short with..Its mostly Day Trading during the 8-4 uSA equity sessions..there are some specialized Futures options, but I dont know much about them..most futures traders just go long or short X number of contracts on day trades..depending on how the movement for 5 or 10 minute time frames are doing..Options on the indexes can be traded at most platforms for SPX..Jeff, Myself and others trade SPX Options quite frequently…
        
        fuzzballl 12:17 pm on Wednesday, January 11, 2017
        
        I also use a short /ES short put combo as a hedge as well. I prefer this over buying puts since I can gradually improve my basis in the protection while holding it instead of watching it’s value drain away…
        
        fibwizard 12:19 pm on Wednesday, January 11, 2017
        
        show me how ….I dont follow what you mean…
        
        fuzzballl 12:26 pm on Wednesday, January 11, 2017
        
        I just sell a single /ES contract and then pick a put to sell against it. As the short puts make money I take those profits and apply those to basis improvement of the short contract. If the market tanks you’re protection will be from the basis of the /ES contract down to the short put strike. Kind of a balancing act between basis improvement and downside protection. I don’t mind it being a slight losing position since my longs will be doing great. At some point it will be a money maker when the market drops.
        
        fibwizard 12:36 pm on Wednesday, January 11, 2017
        
        Fuzzy I need to see you trade it I guess..all my tardes for ES are short and quick..I never hold them past 2pm..I dont know how to do contracts and options together…
        
        fuzzballl 12:47 pm on Wednesday, January 11, 2017
        
        Same as stocks…covered calls and covered puts. Say you sell a contract at 2250 and sell a 2225 put against it for 15.00 your basis in the /ES would be 2265 and making money all the way down to 2225 in a pullback. Keep selling puts every month (or week) to keep raising basis. Comes in handy then when the world is ending. Since you’re generally in a trade with a stop this really wouldn’t be needed. I just use it to help some longer term positions in the event of a big selloff.
        
        john4419 12:20 pm on Wednesday, January 11, 2017
        
        Guys, Appreciate all your help. I am trading the #spxcampaign on a regular basis but was interested in what you are doing.
        
        fibwizard 12:26 pm on Wednesday, January 11, 2017
        
        my advice to you will be to demo or paper trade Futures for a few months..its fast, and its quick…and it will take your money in the blink of an eye…I only trade large 6-10 point runs in the ES(spx) or YM(dow) since they move well..much like todays 20 point up/down..The rest of the time I stay out of the chop and the Pro’s way..and I never trade them at open or after 2pm ..if your not suited to Day Trading, then you should think twice about it…
        
        fuzzballl 12:27 pm on Wednesday, January 11, 2017
        
        Great advice!
  - Bobbie 11:54 am on Wednesday, January 11, 2017
    
    WIZARD – I want to trade like you!!
    - fibwizard 12:05 pm on Wednesday, January 11, 2017
      
      Thanks Bobbie, but there are many traders on the site more knowledgeable and far better than I am..I just get it right enough times to make a nice living..

Leave a Reply Cancel reply

s: search
c: compose new post
r: reply
e: edit
t: go to top
j: go to the next post or comment
k: go to the previous post or comment
o: toggle comment visibility
esc: cancel edit post or comment