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Happy Tuesday – Jeff Bishop here!
I mentioned yesterday that the markets would be choppy this week.
Though I haven’t changed my bullishness, especially on tech, I am planning on trading carefully.
After all, we do have the inflation data coming out tomorrow morning at 8:30 AM EST before the market opens. I expect some reaction one way or another.
But who knows what it will be?
Here’s the truth – if I avoided trading because of every single economic report or news event, I’d never make any money.
It’s as simple as that.
The charts and my trading signals tell me what to do. Period.
Without risk, you can’t win, and any time I take a position I understand losing is possible.
That said, volatile choppy markets are actually IDEAL for the options selling strategies I use in Alpha Hunter.
More volatility means more money, and I don’t even have to get the direction exactly right.
It’s good to be an options seller.
?Numbers I Need:
Right now, I’m stalking NVDA.
This stock has made some absolutely incredible moves in the past month. A 64.4% move is nearly unheard of for a megacap.
It was quite literally defying gravity for a while.
I alerted Alpha Hunters to a bull put spread back on August 28 for a 61% gain overnight, and I’m looking to repeat that play if possible.
*results not typical. Trading is hard
I just need it to give me a “Gamma Trigger” set-up.
If this were just a penny stock or no-name company I wouldn’t bother, but NVDA is at the center of the AI and semiconductor industries.
Institutions aren’t going to let this company fall too far.
Take a look at the 65-minute chart for NVDA. It keeps flirting with a “Gamma Trigger” breakout.
If we can finally get a close above the Keltner channel (about $452), I’d love to get into a bullish trade.
It pays to be patient and wait for the right time to hunt big stocks like this
?Most Exciting Action:
In yesterday’s email, I talked a bit about evaluating your trading strategy.
If you aren’t net positive on your profits (over time), then something has to change. But how do you go about fixing a broken system?
For each trade, ask yourself this, “Why did I get into it?”
If your answer involves anything other than a very specific set of technical variables, then that’s a huge problem.
For example, I alerted a bull put spread on UVXY last Tuesday (9/5) and closed it two days later for a 67% win.
*results not typical. Trading is hard
Why did I place the trade:
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UVXY was extended to the downside to a point where it typically reverses
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SPY and QQQ were ready for a pullback on their charts
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From past experience, I win more often than not with this setup
Obviously, I’m leaving out a few specifics of the charts for brevity here. But you get the picture.
This wasn’t a random, “Hey, this looks good type thing!”
I had specific reasons, and so should you for every trade you make.
?Pro Tip: Make a list of the criteria you use to enter a trade and document them. Find out what works and what doesn’t by referring to your trade log.
I teach about this all of the time to members of Alpha Hunter. That is where I share my absolute best trading ideas, strategies, and education on harnessing the power of options selling every day.
? Past Alert Update:
Well, since I’ve already covered two outstanding trades, let’s just consider the portfolio overall.
My goal is to make $120K this year selling options in Alpha Hunter.
And I’m not making massive trades – each position is only around $3000. So far, I’m right on track.
If you want to see the ENTIRE portfolio with ALL of my trades, just click right here.
Every trade I’ve done, I’ve discussed in emails to Alpha Hunter subscribers or in the Alpha Chamber live room.
Plus, they knew immediately if I got into or out of a trade with the Raging Bull app.
Plus, all members get exclusive access to:.
The Alpha Chamber – Live analysis, trading, and chat
Detailed Trading Plans – Direct to your inbox every single day
Alpha Pulse E-Book – Learn HOW to sell options the right way
?Next time, we’ll continue your education with a look at key moving averages. As usual, knowledge is power.
To your success,
Questions or concerns about our products? Email [email protected] (C) Copyright 2022, RagingBull
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