I find SPY to be a great trading vehicle if you're more of a scalper, as long as you're not marrying your position and you're unbiased you can make money both sides with tight risk. Trading SPY and the high beta names can be easier than trading the" flavor of the day " in my opinion cause you get a feel for how they move together. Obviously Mike and his firm are wayy more knowledgeable than me but that's how I see it.
Mike I have been following your channel for around four months. I have learned an amazing amount of option selling from your classes. I continue building a play book every day.. If you can make a video on controlling shorting positions. I made a huge blunder 2nd OCT I shorted SPY naked 500 shares entered at $331.65 error in judgment not placing a stop.. (I know crazy).. I got stressed and held it to long and sold off in 340-350 range huge loss $2702. If i just waited until Wednesday 28th would have had a gain of around $2,000. On a positive note just buy watching your videos with my options selling this month as of Thursday 29th up $27.110.98. Thank you for your time look forward your response. I started trading Options in June of this year and just broke $172,200 in profit. I trade in Thailand so I am up from around 7PM to 4 AM.
I definitely only make money on market plays when I join the trend. Haven't found a set up where I can consistently take advantage of reversals. I gotta check out the NYSE tick chart and AD line you've presented here.
Absolutely need AD, TICK, and VOLD. I’m no professional but I would suggest trading the S&P futures directly. SPY level 2 doesn’t tell too much since it’s a derivative. It just gets tossed around by whatever the futures are doing. 1000 contracts may pop up on the ask in futures and sell a bit, meanwhile SPY just gets ripped along with no warning like an inner tube behind a speedboat.
@@brcleaningcompany2566 hey, that's exactly what I do too lol...spy is the derivative whereas spx/es are the originals plus vix is technically the vol of spx
Mike, thank you for comments regarding the firm's experience trading SPY. It has been one of my key focuses going on 2 yrs now. It was rewarding to hear you speak about it from your perspective and what you are seeing other traders experience with it.
I like his trade but i wouldve entered after the bottom candle that showed strength rather than before especially if thats all im using. Ill have to test out that indicator.
Great info on the TICK . Scalp into a swing beautiful trade. Great advice at the end Mike of you explaining what you would need to consider trading the SPY.
Good clip. Thanks gents. SPX/SPY can be whippy at times. But I love SPX' breakouts when they appear as they're fast like today. Best to trade the short bursts then tap out. Thks.
They cant reveal that info , its how they make money. Notice every risk management video never tells you exactly what they risk per account size or thier total account sizes
I trade eminis...and am always a huge fan of SMB videos...but with due respect and with regret I have to say, I was surprised to see a countertrend long being shown during a 29 point drop in SPY. Yes this particular trade was nicely done...but akin to picking pennies and dimes going against the trend. The hard part is to short emini or SPY during this 29 point drop, but that is where the risk/reward is and the big money is. This long set up worked at this particular point...but there were many similar situations since 10/12 where this long would have failed...the better way to go would have been to short SPY or ES_F with the downtrend. The ironic thing, from my point of view, I had just spent the last hour looking at and printing out all the balances that broke higher only to fail...they all looked similar to this one that worked...so for this one that worked, there were 6 or 7 that failed...just to give an idea as to the mathematical expectancy of such trades in a powerful down move There were many, many short set ups since 10/12...after the big bounces ran out of gas..that is where the money trading ES_F of SPY is...but did involve overnight holds. There are many who trade only eminis...and most use levels, volume profiling etc and a lot of prep for trading ES_F...none talks about the oscillators and relying on overbought or oversold indicators for ES_F is usually dangerous
I agree. I stopped watching halfway through this video. I personally look for anything fundamentally driving the market through my news feed. Then I go with the trend. I can sit and wait days without trading until a trend day like this come and get at least 20 ES points.
@@andreclark2472 I wanted to do the same, but since I was going to comment, felt I had to see the whole thing...Sitting and waiting seems to be critical with ES_F...and ability to trade with the trend is so rare and so awesome to make $...avoiding countertrend trading on ES_F critical to avoid failing at eminis
so you are bitching about this being a countertrend trade instead of seeing how amazing is the opportunity to learn how a profissional is able to trade it to perfection? if you have more than 2 cells in your brain you could imagine that would be possible to capture the down trend almost completely and them the counter trend move because of your market reading skills I have a feeling you are not yet a consistent trader, good luck on your journey.
The content is good but the gambling terms? really? We don't play. We take positions. We have profit and loss. the job is liquidity providers to the market. Why the gambling terms? I expected better from "professionals."
I find SPY to be a great trading vehicle if you're more of a scalper, as long as you're not marrying your position and you're unbiased you can make money both sides with tight risk.
Trading SPY and the high beta names can be easier than trading the" flavor of the day " in my opinion cause you get a feel for how they move together. Obviously Mike and his firm are wayy more knowledgeable than me but that's how I see it.
Mike I have been following your channel for around four months. I have learned an amazing amount of option selling from your classes. I continue building a play book every day.. If you can make a video on controlling shorting positions. I made a huge blunder 2nd OCT I shorted SPY naked 500 shares entered at $331.65 error in judgment not placing a stop.. (I know crazy).. I got stressed and held it to long and sold off in 340-350 range huge loss $2702. If i just waited until Wednesday 28th would have had a gain of around $2,000. On a positive note just buy watching your videos with my options selling this month as of Thursday 29th up $27.110.98. Thank you for your time look forward your response. I started trading Options in June of this year and just broke $172,200 in profit. I trade in Thailand so I am up from around 7PM to 4 AM.
Thanks for the tips! Just remember that there is still a lot more to learn, and to never stop improving.
I definitely only make money on market plays when I join the trend. Haven't found a set up where I can consistently take advantage of reversals. I gotta check out the NYSE tick chart and AD line you've presented here.
Thank you for this great video Mike 👍🏼
Just applied to Experienced Equities Trader to SMB. Got the butterflies in the stomache!
Sweet! Good luck with our HR guys :)
@@smbcapital Oh boy, what's that supposed to mean?!
@Higher Image Status I didn't know you follow SMB! Keep with it, they're my mentors. Thanks for the kind words.
@@WeenieTradesLLC Did you get the job?
@@WeenieTradesLLC been 11 months now how did it go, how’s it going dude?
thanks a lot, great video
Absolutely need AD, TICK, and VOLD. I’m no professional but I would suggest trading the S&P futures directly. SPY level 2 doesn’t tell too much since it’s a derivative. It just gets tossed around by whatever the futures are doing. 1000 contracts may pop up on the ask in futures and sell a bit, meanwhile SPY just gets ripped along with no warning like an inner tube behind a speedboat.
We have guys here who prefer to trade the futures over SPY
Which do you suggest? SPX? /ES? Why? Someone said they trade spy watching the /ES and never looking at spy itself, what does that mean?
@@brcleaningcompany2566 hey, that's exactly what I do too lol...spy is the derivative whereas spx/es are the originals plus vix is technically the vol of spx
Mike, thank you for comments regarding the firm's experience trading SPY. It has been one of my key focuses going on 2 yrs now. It was rewarding to hear you speak about it from your perspective and what you are seeing other traders experience with it.
Of course Brandon. SPY is a tough one
I'd love to see you folks compare/contrast trading SPY with trading the ES or MES futures.
Good suggestion Bruce
Very good insights. thx..
I like his trade but i wouldve entered after the bottom candle that showed strength rather than before especially if thats all im using. Ill have to test out that indicator.
Do what works for you Andre, each trader will have slightly different criteria to enter and exit
Thanks
How did you get NYSE TICK on TradingView?
Great info on the TICK . Scalp into a swing beautiful trade. Great advice at the end Mike of you explaining what you would need to consider trading the SPY.
I have felt exactly this. Thank you for making a video on this Mike.
Good clip. Thanks gents. SPX/SPY can be whippy at times. But I love SPX' breakouts when they appear as they're fast like today. Best to trade the short bursts then tap out. Thks.
Liked this a lot! How might this trade have played if you used SPY weekly put spreads? Thx :-)
Great breakdown!
Thx!
Do you guys still have a futures desk and market profile training ??
Mike - I'd love to see a video on entries and exits - essentially "How to hold" a position, and what to look for in an exit.
They cant reveal that info , its how they make money. Notice every risk management video never tells you exactly what they risk per account size or thier total account sizes
Would love to see futures trading
Is it really worth it to be trading on the 15s, 30s chart instead f the 1 min chart?
I trade eminis...and am always a huge fan of SMB videos...but with due respect and with regret I have to say, I was surprised to see a countertrend long being shown during a 29 point drop in SPY. Yes this particular trade was nicely done...but akin to picking pennies and dimes going against the trend. The hard part is to short emini or SPY during this 29 point drop, but that is where the risk/reward is and the big money is. This long set up worked at this particular point...but there were many similar situations since 10/12 where this long would have failed...the better way to go would have been to short SPY or ES_F with the downtrend. The ironic thing, from my point of view, I had just spent the last hour looking at and printing out all the balances that broke higher only to fail...they all looked similar to this one that worked...so for this one that worked, there were 6 or 7 that failed...just to give an idea as to the mathematical expectancy of such trades in a powerful down move
There were many, many short set ups since 10/12...after the big bounces ran out of gas..that is where the money trading ES_F of SPY is...but did involve overnight holds. There are many who trade only eminis...and most use levels, volume profiling etc and a lot of prep for trading ES_F...none talks about the oscillators and relying on overbought or oversold indicators for ES_F is usually dangerous
I agree. I stopped watching halfway through this video. I personally look for anything fundamentally driving the market through my news feed. Then I go with the trend. I can sit and wait days without trading until a trend day like this come and get at least 20 ES points.
@@andreclark2472 I wanted to do the same, but since I was going to comment, felt I had to see the whole thing...Sitting and waiting seems to be critical with ES_F...and ability to trade with the trend is so rare and so awesome to make $...avoiding countertrend trading on ES_F critical to avoid failing at eminis
so you are bitching about this being a countertrend trade instead of seeing how amazing is the opportunity to learn how a profissional is able to trade it to perfection?
if you have more than 2 cells in your brain you could imagine that would be possible to capture the down trend almost completely and them the counter trend move because of your market reading skills
I have a feeling you are not yet a consistent trader, good luck on your journey.
Great video. Thanks for the info on the tick, I learned something new today.
Glad to help John
Anyone know what brokerage he's using?
Goldman
只需开仓，不用平仓就能赚到百分之百？如何操作？共享期权交易实例大揭密 ！
The content is good but the gambling terms? really? We don't play. We take positions. We have profit and loss. the job is liquidity providers to the market. Why the gambling terms? I expected better from "professionals."