241 [Starting to trade options! Disaster or success? Dec 4, 2020]

  • DOCU looks good, breaking out on the weekly, I like it. Looking decent so far from orhs, vol is already avg this is exactly what you want to see. Had great earnings, big beat, big growth, gapped up, and breaking out of this multi month range, been building hls for like 6 months, that’s the setup.
  • MRNA watching on the short side, this it day3 of the bounce, may be something there, did a small starter. Looks like it’s finding support on the rising 10ema on the 60min, but if it rejects into vwap gonna add more. MRNA has been failing on vwap a few times now, but it’s still rangebound. So far found support on the rising 10ema and built another hl. It’s unfortunate this gap down/breakeven, I would have preferred a gap up.
  • DNLI yeah was maybe not a 5* but it was a pretty decent setup.
  • LYFT congrats to those who bought a few days ago, I was hoping for one more day of sideways.
  • SNDL there’s something intriguing about it, it’s one of the highest vol stocks in the market, it’s a 70c stock but if you look at the dollar vol it traded like $700M worth of stock yesterday, that’s pretty insane, if it can just go sideways a few days I will be interested in it. I wasn’t interested in the 30c range, too low priced, it will still be low priced but if it sets up perfectly I will trade it, I have to, I have to trade it. Make no mistake they’re all pos, but that’s not really our concern, our concern is to buy then when they’re going up, so if it sets up again I will buy it.
  • TSLA, I added yesterday when it broke this little flag intraday on the 5min, right here [13:25pm] high 593s, the break of this intraday flag. I think it’s gonna have an insane run up into the s&p addition.
  • PDD, on the daily not so much, on the 60min, it’s actually breaking out of a really tight 60min range, I’m passing, if you’re into these types of setups sure. Yeah that’s what happens on mediocre setups, there was really no setup there, you need very specific setups to have an edge, if you trade without an edge, you’re gonna get killed.
  • PSNL, it is flagging nicely, actually a pretty decent setup, if it can breakout on volume yeah.
  • QS, the setup was on the 60min, it’s breaking out of a htf on the 60min, but the reason I’m buying it is they have this forward looking event, and it’s a super hot sector, so that’s why, I think that increases the odds for success, but the setup itself was not super great but just bc it has these other factors.
  • NVDA, it needs to break out with some force, then I may buy it, I like the setup, this is the kinda stock you can risk like $5/7 to make $100.
  • IRWD, yeah it’s a good setup, maybe a bit high to buy here, but idk it’s like the choppiest stock ever, just look at it, prob gonna just pull back tomos, if it wasn’t this choppy, idk, I wouldn’t trade it.
  • RIG this looks explosive.
  • I’m in touch with a few guys in twitter, I’m gonna learn to do options trading. Just in very specific scenarios, where it may not be favourable to do equity. Some of these parabolic shorts that I don’t want to hold overnight, that have liquid options. I just try to avoid options as much as possible bc there’s just so many things that can go wrong, but in certain scenarios I want to be able to use them, I think in very specific scenarios you can have a big edge trading options. Ah f*ck I bought the put. Ok I did 10 contracts of the Jan15 95 Calls, I have no idea what it means. I’m gonna do Mar 120s too, I’m learning, and I’m not a believer in paper trading, I want to have real money on the line, bc if you lose it’s gonna hurt, and you always learn better if it hurts. You know what I’m gonna do one options trade per day from now on, that’s the only way to learn, repetition.

Misc:

  • This stream is free. Yeah nothing is really for free, the price you pay is your braincells.
  • I need to put ATR back. I need to put it back.
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