9 replies to this topic

[gannman]

trading is always a gut check. do you trust yourself and what you see ? you will always be tested 

 

the market will always challenge you .  lots of opportunities in this market thats for sure 

 

good trading to all 

[OEXCHAOS]

It is funny how often my gut is right.

The trick is to not force it.

 

And that's a serious trick.

 

M

[12SPX]

Think that's the decades of experience that show that, I barely use technicals, prefer option prices and my gut, seems to work! 

[12SPX]

k now off to tennis, that's the gift of having this many years of expierience lol, you can trade while you trade!! 

[brucekeller]

Think that's the decades of experience that show that, I barely use technicals, prefer option prices and my gut, seems to work! 

 

what exactly do you mean about option prices anyway?

[12SPX]

I look at real out of the money options and daily options to see if there are too many bulls or bears.  The P/C ratios don't show those numbers.  I do it from decades of experience just looking at prices! 

[brucekeller]

I look at real out of the money options and daily options to see if there are too many bulls or bears.  The P/C ratios don't show those numbers.  I do it from decades of experience just looking at prices! 

Just prices or the open interest and volume of those out of money options too? Mainly options for QQQ and SPY etc?   Thanks for the response!

Edited by brucekeller, 16 February 2022 - 09:03 AM.

[12SPX]

Nope very simple, just the prices.  I'm working on it but the institutions are selling the daily options hand over fist for income.  For example the Wed 4200 put that expires today traded at $12 on Monday with a down market.  The 4000 hit $10 at one point, pretty bearish considering they expire today.  Yes they may have been hit but maybe about 5% odds!!  Today the 4200 that is a regular cycle put expiring Fri is only trading around $2 much less bearish.  There seems to be a slight lean on the bearish side as the 4400 put is around $25 and the 4500 call around $14 but before the sell off after the retail sales number it was around $25 so pretty neutral I'd say for the day!  Number one thing people need to remember is that the market doesn't go up forever and it doesn't go down forever, add in a little bit of timing and selling options is great!! 

[Mr Dev]

Ive seen far more traders blow up and put out of the game by trading on intuition and gut feelings vs those who can Trade Technically.  For best results, Trade both ways and work to push the bias aside.

[12SPX]

Think I do pretty good, I use technicals for option selling mostly unless opportunities present themselves to me.  Watching option prices is kinda technical because I've watched the prices so long you can tell over bearish over bullish times.  When it comes to day/week trading I've done ok as its been over a year since I've taken a loss lol!!   Have been doing it forever but finally started piping up more about it on here a little over a year ago!