This forum is for GO and PRO members to post questions or topics to be answered during an upcoming live session.

2021.03.10 – SESSION 21 – GO ASK A TRADER

16 replies, 10 voices Last updated by Jenica Locke 4 months, 1 week ago
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    • #17120

      Jenica Locke
      Keymaster
      @Holzschuh8Jenica

      The video index of this session is posted and ready to view. Enjoy!

    • #17074

      Sherri Locke
      Keymaster
      @KDAKSj4ux
      Going to The Trading Triangle LIVE 2016Ultimate Income Trader Workshop

      The recording of the GO Ask A Trader session from earlier today is ready to view. Enjoy!

    • #17072

      Pierre Antoine CHAPELLE
      Participant
      @paqueuc@hotmail.fr
      Points: 318
      Rank: Freshman

      To be more precise : “I see the value of the greeks as today for a given strike but I don’t see the projection in 3 days from now.”.

      Currently, I can only see the projected value of the P/L in X days from now through the multiple T+X lines but I don’t see the projected greeks and that is what interests me.

      Thanks

    • #17071

      Pierre Antoine CHAPELLE
      Participant
      @paqueuc@hotmail.fr
      Points: 318
      Rank: Freshman

      Hi John,

      I’m switching from OptionVue to ONE.

      Basicaly, all “regular” Butterflies, condor… become “Iron” Butterflies, condors… in ONE to be as true as possible because of algorithm constraint. But in TOS, do you place your orders as “Iron” ones or “regular” ones ? When I put a calendar on top of a butterfly, I like not interfering – mixing those two when the strikes are the same (I like doing Put butterfly and Call calendar).

      2/ In ONE, is there a way to have the projected value of the Delta (or other greeks) in X days on the risk graph ? Currently, I see the value of the greeks as today for a given strike but I don’t see the projection in 3 days from now.

      Thanks John,

      Best,

      Pierre Antoine

    • #17066

      Jun Zhang
      Participant
      @jun41188@gmail.com
      Points: 185
      Rank: Newbie

      Hi John, I am a Stage 3 trader and have traded the M3.4U for 3 cycles now. I am looking to advance to stage 4 and become more subjective

      Can you explain how a subjective or pro trader would go about their trading day? What are some important technical analyses that a advanced trader would use? What are some tips when advancing from Stage 3 to 4?

      I appreciate your time. Thank you!

    • #17064

      virginie afota
      Participant
      @virginie.afota@gmail.com
      Points: 985
      APM2
      Rank: Freshman

      Hi John,

      Would you be able to comment on what you take into consideration when you choose your expiration at trade entry ?

      Many thanks

      Virginie

       

    • #17055

      Berry Bridges
      Participant
      @bdb12345@cox.net
      Points: 56
      Rank: Newbie

      Hello John –

      I’m new to your service and these forums, but I’m encouraged by what I see and read!  Simple question about general rule of thumb for long strike widths for broken wing butterflies (ref slide 23 (BWB Master Course):

      “For the width between my long strikes, I use my best estimate of the asset’s average move in one direction in 30 days over last 2 years.”

      I have run the numbers for the past several years, and as of 1 Jan this year, I calculate over 200 for this value for SPX, but the current forums show about 100 between the long strikes (as they did back when the video was made in June 2016).  I have the details if you desire me to email them.

      Any advice?

      Thanks!

      Dale

    • #17032

      Dan Shaw
      Participant
      @dkshaw@gmail.com
      Points: 843
      Rank: Freshman

      Hi John,

      In stage 4 you say that one should focus on trading the RUT or SPX and that choice is an individual decision. Can you speak to the major differences between the two and why one should be chosen over the other?

      • #17058

        John Locke
        Keymaster
        @john-locke
        Going to The Trading Triangle LIVE 2016Locke In Your Success CoachAPM2Trade JournalsUltimate Income Trader Workshop

        Thanks for the question Dale!

      • #17035

        John Locke
        Keymaster
        @john-locke
        Going to The Trading Triangle LIVE 2016Locke In Your Success CoachAPM2Trade JournalsUltimate Income Trader Workshop

        Thanks for the question Dan!

         

    • #17027

      Neal Bland
      Participant
      @neal.bland@gmail.com
      Points: 303
      Rank: Freshman

      Hi John,

      There seems to be a growing drum beat of concern for inflation picking up in the future.  This of course has happened before without ever having materialized significantly since I’ve been a participant in the markets.  However, the drivers are much stronger than they have been in the past.  Because of this I’m planning ahead for how I’d expect my various investments to respond as well as preparing mitigations and would like your thoughts on how options markets may react.  How do you anticipate they would respond to higher inflation and what options income strategies would benefit or be hurt if there was a major uptick in inflation and interest rates?

      Thanks!

      • #17034

        John Locke
        Keymaster
        @john-locke
        Going to The Trading Triangle LIVE 2016Locke In Your Success CoachAPM2Trade JournalsUltimate Income Trader Workshop

        Thanks for the question Neal!

    • #17009

      Dan Shaw
      Participant
      @dkshaw@gmail.com
      Points: 843
      Rank: Freshman

      Hi John,

      Can you speak on the pro’s and con’s when placing limit orders vs market orders and what the recommended plan should be when trading either. Sometimes I find that I don’t get a fill on my limit order so I have to close and re-order with a slight adjustment. Market orders fill quickly with the downside that you might not get the best price.

      Thanks!

    • #17008

      Dave Nadeau
      Participant
      @dave.nadeau@live.com
      Points: 205
      Rank: Newbie

      Hi John,

      I’d love to hear some thoughts and tips on Order Execution in RUT options.

      For trade sizes in 5 or 10 lots, and generally buying or selling parts of the combos (e.g. Buy Vertical, Sell Vertical, Buy BFly, Sell BFly, Buy Calendar, etc.) I’ll notice that I sometimes have to walk up the trade 5 or 10 cent increments to get a fill, almost like price discovery, and other times I’ll get a quick fill for the whole order.  Other times, I’ll get filled one lot at a time.

      I do trade the 10’s mostly (e.g. 2270, 2280, 2290).  I will make exceptions for the 25’s and sometimes 75’s if there’s good Open Interest.

      I’m assuming that the full order fill is done by market makers who are matching my orders with their inventory or other orders, and for the 1 lot at a time trades, it’s taken by other traders.

      I’ve traded the above generally either one hour after RTH open or at one hour before the close.

      Do you have thoughts about trade size, walking orders up versus sitting, and time of day?

      Thanks John!

      — Dave N

      • #17015

        Dave Nadeau
        Participant
        @dave.nadeau@live.com
        Points: 205
        Rank: Newbie

        I wanted to clarify in my earlier post that I mean to say that I will walk up the mid price by 5 or 10 cents and *continue* upwards by those increments every few minutes in order to get a fill.  I didn’t mean it to sound like only 5 or 10 cents then stop.

        I mostly trade on IBKR as my main platform.  I do also have accounts at TDA (for ToS) and TastyWorks for options trading as well.  I’ve noticed that my mid prices differ because of the highs and lows of the range where Tastytrade seems to have a wider range on RUT options compared with my Trader Workstation quotes.  That may be partly why I have to walk up the price to get a fill.

        I have compared fills on all three platforms when I have an order sitting at the same price.  All seem to fill at the same time when it gets hit, so no useful insights from that..

      • #17010

        John Locke
        Keymaster
        @john-locke
        Going to The Trading Triangle LIVE 2016Locke In Your Success CoachAPM2Trade JournalsUltimate Income Trader Workshop

        Thanks for the questions Dave and Dan!

    • #16967

      Sherri Locke
      Keymaster
      @KDAKSj4ux
      Going to The Trading Triangle LIVE 2016Ultimate Income Trader Workshop

      We highly encourage PRO, GO, and Trading Performance members to post their questions and topics to be discussed in the REPLY TO text box below at least 48 hours in advance of this meeting.

      Click here if you would like to request a mini coaching session.

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