It makes sense to estimate a target price and a time for it to be reached before entering a trade, doesn't? The only approach that I know can forecast the markets with such detail is the Elliott wave. How about trying out the Refined Elliott Trader (RET) from Elliottician.com in a real time papertrading account with me?
I propose to open a fictitious account with Think or Swim, and test the RET proyections using my own search criteria to locate candidates and create that account with puts and/or calls or whatever option strategy seems appropriate. We can start with a $20,000 account, and see if we can build from there.
Better yet, I propose to record all my entries in Quicktime video clips so you can download and view in your own computer and follow along with me, perhaps with your own paper trading account. My purpose is not to give you hot tips, but to show you how I trade. Hopefully you'd criticize my trading and learn a thing or two. Like the idea?
All you need to do is send me an e-mail at paperprofit1@gmail.com and request entry into my private blog. There you'll be able to download the videos. However, you'd need to make a small contribution to cover the expenses related to production and distribution of the video. That is all. The effort I will be putting into this is all for free. However, you must "Pay it Forward" by doing something really great for someone that cannot help him/herself.
By the way, here is a sample of a forecast, using the RET. I picked this candidate using Telechart to select bearish candidates with my search criteria:
18 comments:
Hi Juan. This is Andrew from the "other" forums. Have you considered adding Gann analysis to your directional trading? I just attended a workshop for Safety in the Market (in the interest of disclosure, it's a subsidiary of Hubb, the creator of ProfitSource). It was part of the futures package that was sold at OASIS this year.
Gann swing trading and time-and-price analysis seems a lot easier to understand, and also seems much less arbitrary, than Elliott Wave theory. I think I'm going to give up on Elliott Wave analysis and study swing trading for a while. Even though Gann swing trading is based on 1/8 and 1/3 ratios, it can also apparently be combined with Elliott Wave analysis and Fibonacci ratios.
I'll also be looking into futures trading for my directional trades, since long premium just doesn't seem to cut it for me. Single stock futures actually seem quite liquid nowadays, and I like the idea of making every last penny of a stock's move without having to pay $0.10-0.20 slippage and without fighting time decay or IV crush. I'm still selling options, though.
If you're interested in more info, the company's site is http://www.sitm.com.au . Obviously, I don't work for SITM or Hubb, or Optionetics, or any other financial company, as you know. Just thought you might be interested in looking it over.
-Andrew
Thanks Andrew.
No, I have not played with GANN. However, I DO have the software to try it out. Advanced Get does have the GANN lines facilty.
Back in 2003, there was a guy at the Optionetic's advanced seminar giving a lecture on Gann lines. I just had too much in my mind to try that out back then. This is the first time since then that I have anyone suggest to me to use Gann.
I suppose that you tell me this because I suggested that Elliott is the best approach to forecasting time and price targets. I gather you think that Gann would do the trick too?
What the heck, I will dust off my Advanced Get manual and see what I can figure out.
Thanks for the suggestion. I hope that you come here again, and have a nice exchange of ideas!
Hi Juan. I'm interested in your PCCRC system and DVDs, just want to know what tools required to use it beside RET and TOS platform?
I have spend thousands of dollars in softwares that are generally nice to have but not absolutely necessary. I am not going to recommend that you go out there and get a software just so that you could use my system. I would rather teach you how to trade my system with no new software at all.
You could get started by opening an account with Think or Swim for three very good reasons:
1. You could persuade them to charge you a "per-contract" comission, without a basic "per trade" fee (OptionsXPress charges you such a fee). Interactive brokers charges only a per contract fee as well, in fact a very low $0.75/contract fee, the lowest I have seen but (read on).
2. They have the best software that allows you to display risk graphs and even view the daily change in IV (see prophet chart). Their risk graphs are actualy REAL TIME, so you can see the changes in your risk graph instantaneously. Not even Optionetics Platinum offers this real-time feature. They only show the chart with a 20 min delay.
3. They allow multiple legs with uneven number of contracts per leg. You cond place a PCCRC that is +20c, +21p, -9c, -10p, for example, all in the same ticket, with an estimated bid/ask spread. Interactive brokers allows this two. OptionsXPress does not allow uneven legs.
4. You can program the TOS under the "Scan" tab to locate stocks that fit my requirements for a >10% increase. Interactive brokers allows this too. This makes things very easy when searching for the post-earnings price jump system for PCCRC's.
There are other features to TOS that makes my life really easy when it comes to PCCRC. It groups all legs for the same underlying in a single row with its own P/L per day and P/L from the opening of the position.
I can trade the same position in multiple accounts.
You do NOT need RET to pick good PCCRC candidates. In fact, my favorite strategy does not require RET (the 10% post-earnings jump strategy).
You could also get a subscriptions to Optionetics' Platinum, but I would not recommend you do so, until you profits can justify it. But if you do, you'd have access to IV charts that are very nice to have when playing PCCRC's. You can get a picture of what IV does after earnings in a particular underlying.
I DO recommend Platinum if you want to backtest a strategy. This is how I came up with my PCCRC strategies. Back in Aug. I renew Platinum for one more year. It was hard to do, since I no longer absolutely need it, but I convinced myself that at the very least, I can show people what I do with a Platinum subscription.
I no longer have an Interactive broker's account so I won't comment further, since they may change their software routinely.
You will require RET if you intend to follow my long-call, long-put strategy, but you do NOT require it for PCCRC's.
Finally, in my videos, I demonstrate the different softwares. I also explain how to trade the PCCRC in much detail. I recommend that you order my DVD's and see for yourself. I explain everything in much detail. At the very least, you will learn a few things about the Elliott wave, Options and Volatility. Even if you end up doing something completely different, you'll learn a lot. I do not hold back. I explain EVERYTHING I know, without hesitation.
How many DVD disks you recorded so far? Could you please list contents on each disk? and how much does them cost? Thanks!
Please make request to my e-mail directly.
Paperprofit1@gmail.com.
Please make request to my e-mail directly.
Paperprofit1@gmail.com.
Juan,
How do I order the DVDs. I'm based in Australia and not sure how the exchange rate would work.
Hi Anonymous.
If you have received information from me, regarding ordering my DVD's, please go to Paypal.com and send payment to my e-mail Paperprofit1@gmail.com. Make the payment in US dollars, Paypal will make the adjustment at the current rate.
Be sure to include your mailing address when you make the payment. I will receive an e-mail with the details of your payment and any message you may want to include.
I am about to change the price schedule. I will post details about the contents of the disks and the rights you acquired when purchasing the disk. If you receive an e-mail directly from me, you can pay the amount specified in the e-mail.
Thanks for your interest.
I'm now ready to order the DVD's that you have. Could you please let me know what needs to be done. I've opened a pay pal account. Please let me know the email Id to use to pay you the money. Any other instructions that I need to follow?
Juan Please ignore my last post. I got the instructions from your previous post.
Cheers,
Prashant
I've sent the money to you. Now you might be confused as there are two postal addresses. I did not know that Paypal uses the address that is stored in my profile. I've included a postal address in my message as well. You may send the DVD's at any of the addresses. This is the first time I'm using Paypal and therefore didn't know how it works.
Sorry for the confusion.
Regards,
Prashant
Prashant
Thanks for your note. I will put the DVD's for you in the mail tomorrow morning. Is night here is California.
Thanks for your request and I look forward to your interactions with the group.
Hi Juan,
Thanks for that. Now since I've ordered the DVD's how do I get entry into your private blog?
Prashant, there is a lot of material on the disk. Make sure that you are ready for more information. There is already a lot in this blog in articles, etc.
Then, consider joining the private blog where you'd see continuous videos of more case studies.
Look towards the end of my previous post:
http://stockoftheday.blogspot.com/2007/10/adjustments-to-pccrc.html
"If you already received the DVD’s in the past, you had already a trial period of access to my private blog. If you would like to have continued access to the blog, I will request that you send me $50 via Paypal. "
I will send you an invitation for a 2 week trial. since you already order the DVD's.
Hi Juan,
I believe you must have sent the DVD's to me. In one of the optionetics forum I read your post that talks about Quantum Swing Trading. You mentioned in the post to send you an email to discuss further.
Regards,
Prashant
Prashant:
Here is some information on QST:
http://www.quantumswingtrader.com/home1.php#vid2
In my basic option Trading blog, there is some discussion about QST:
http://stockofthedayii.blogspot.com/
I sent your DVD's on the 12's. BUT you are in Australia... ! so please be patient.
You must have received an invitation to visit my private blog and view active discussion and real time videos.
Thanks Juan,
No I haven't received any invitation to visit your private blog yet.
Prashant
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