Becoming a Full Time Trader
“Am I ready to become a Full Time Trader?” This is a question that comes up frequently in trading groups and Facebook posts. If you have traded successfully for a while, you may have had that question creep into your mind as well. After all, becoming a full-time trader has many perks. There is no boss to answer to, no
Read moreTerms, Abbreviations, and more – New Traders start here
You’ve got questions, we’ve got answers. If you are new to the trading world, there is no doubt that you will have questions. We’ve all been there. It can be confusing when you are reading/listening to traders speak the trading lingo. In order to help you navigate the murky waters of trading, we’ve put together a list of common words/phrases/abbreviations
Read moreTIP: Creating Stop Limit/Market Orders to enter a trade
Sometimes you can’t sit at your desk all day or monitor all tickers to enter a trade, but you know you want to take an action if something breaks out over or below a level. Stop orders aren’t just for exiting a trade. They can also be used to open a trade. There are 2 parts to a stop order.
Read moreTIP: Use a Trading Journal EVERY Day
To improve your trade planning and execution skills and become a batter overall trader, I highly recommend using a trade journal. I’ve created a sample version based on what I use as google spreadsheet. Be sure to plan your trades and update your journal every day. Process: Fill out your trade plan in the journal BEFORE making a trade Update it
Read moreUsing Black Box Stocks to Find Premarket Gappers
Here is quick clip of what I do each morning to identify gappers. I check this during 7:30-8:30am.
Read moreTIP: How to chart options quickly in ThinkOrSwim
First make you have one more charts linked to a color. You’ll see what I mean in the gif below. Right click on the option you want to chart Click send to and choose the color of the chart you want to send it too.
Read moreTIP: How to find the top 100 stocks/tickers by Option Volume in Black Box Stocks
Ever want to know what tickers are getting the most option volume? You can find this in Black Box Stocks. Click the Options tab in the top left. Click Volume tab at the bottom of the options section. I like doing this and checking the column p/c for put to call ratio.
Read moreTip: How to setup Black Box Stocks twitter feed on TweetDeck
I love how Black Box has an algo watching the option call flow and then sounds out a tweet when it finds something it likes. The twitter feed is available to members and to trial members. Send me a tweet if you want to be added to the next free trial. Steps So here are the steps to get access
Read moreTIP: Change ThinkOrSwim Default Quote Speed to Realtime
Ever wonder why your quotes on ThinkOrSwim seems delayed? Probably because it is. For scalp day traders this can be the difference between a profit or a loss. To change the quote speed. Click Setup and choose Application Settings Click System and choose Realtime under Quote Speed
Read moreTIP: Using ThinkorSwim to determine the implied move for earnings action
Someone gave me this tip awhile ago and it is been helpful. Open thinkorswim, click on the Trade tab and All Products. look for the 3 Ms in yellow, circled in green below.
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Tools & Services
I use BlackBoxStocks tools such as option order flow and scanners. You can also find me at #spectre at Blackbox's discord server where I provide commentary and alerts. Join Us
Have you wanted to get better insight into your trading performance? Try TraderSync
If you want great pricing for option trades and an easy to use interface, checkout TastyWorks.
For a great web based charting platform, check out TradingView
*** full disclosure, Edumomo is an affiliate of the vendors above and is compensated if you subscribe to any of the services. If you do subscribe to any of the services let us know how they work out for you by using the contact us form. We only want to support vendors that we think have something to offer and if there are isues, we want to know about them.