Swing Trading Days to Weeks | John McNichol | 1-5-21| More Trailing Stops & Setting Time Stops

Swing Trading Days to Weeks | John McNichol | 1-5-21| More Trailing Stops & Setting Time Stops

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good morning everyone john mcnichol here and welcome to swing trading days to weeks another fantastic week of education and day with td ameritrade our topic we're continuing our discussion on stops we've been going over trail and stops today we'll also discuss about a time stop so stick around okay do appreciate those you that are live with us today such as sarah sarah charles michael mike steve rick uh colonel tm michelle wayne hussein and everyone else we got phil and ricardo jackie gary great to see you uh guess what we got uh cameron may helping out on the chat uh for any questions i am i am unable to get to you today uh but feel free to follow myself along with cameron on twitter you can see my twitter handle at jmcnickel underscore tda if you wish to learn more about your instructors and also learn along the way let's take care of disclosures we'll get right into our discussion folks lots to talk about uh options not suitable for all investors spread straddles other multi-leg options strategies all the additional traffic obtain may entail substantial transaction costs uh as well as more complex risks and single leg option trades in order to demonstrate the functionality of the platform we will be looking at actual symbols if the mit ameritrade does not make recommendations or determine suitability of any security or strategy for individual traders any investment decision you make in your self-directed account is solely your responsibility now uh you're encouraged to practice what you learned today with tools such as the paper money application which is for educational purposes only and successful virtual trading during one time period does not guarantee successful investment of actual funds during later time periods market conditions change continuously as always all investing involves risks including the risk of loss now a stop loss order will not guarantee an execution at or near the activation price once activated they compete with other income and market orders all right and with that in mind let's go ahead and bring up our agenda so we're going to go ahead and review a previous trail and stop examples that we've done over the previous two weeks one utilizing the atr trailing stop and we'll see what the result of that was the other one being a parabolic sar that i believe we had discussed last week we're also going to show on how one may be able to utilize a time stop and we'll talk about some considerations for that and we'll do that in the context of a practice trade today so hopefully you're looking forward to that journey now before we jump into uh looking at the previous examples uh let's go ahead and take a look at the market open and uh direct your attention over to the far right under the scratch pad where again you can see the twitter handle and if you like this video uh along uh with uh our education uh make sure you click like and subscribe to trader talk so you can be informed to other upcoming sessions uh go ahead and looking at some of the indices uh looks like uh we're moving to positive territory uh things had been uh a little touch and go uh overnight uh in the futures market uh so looks like uh markets trying to open in positive territory uh i believe testing uh some of the lows uh from yesterday on the futures market uh and uh looking to open up in the lower part of the range uh much more of a volatile day yesterday as uh price action pretty much wiped out uh the previous uh swing that had preceded uh christmas price action is still making a higher low so as far as the trend uh trends still being uh intact you know some traders uh you know may go ahead and take a drawing tool such as a diagonal tool and kind of focus in on you know some of that more recent price action you know identify that trending support you know going back to the lows of 11 30. uh we can see it trading down on the 21st and a touch here on the fourth yesterday so at least a pause in that uh traders will probably be keeping an eye on this opening range and see if prices uh fade uh or uh continue to bounce but uh pretty much a pretty good volatile day uh translating over and looking at uh volatility looking at the vix which has more of a gauge of a fear index now cameron who's helping out on the chat uh does uh take a look at this uh every thursday morning when i'm on the chat with him on selecting an options trade we're incorporating volatility uh into the mix there and uh you know volatility still uh still uh still high you know hasn't dropped off notice it's kind of almost the inverse of what we saw on the spx uh it's still kind of hanging around in the higher part of the range at the opening looking at some of the other indices such as small caps small caps may be an area to be keeping a closer eye on as some traders may look at the small caps as you know more representative of of the broader market uh you know 2 000 stocks uh small capitalization all there's a few mid caps in there as well you know they had taken more of a hit over this last week whereas some of the larger caps had you know made all-time highs as early as yesterday small caps have been demonstrating some weakness after a very strong run uh over the last six months and particularly in november december where they beat out the s p uh in the returns on the year but some profit taken going into the end of the year as well as the first of the year price action inside that previous day which technicians may refer to that you know as a harami an inside day now if that if that's price stays like that for a continuation of the trend traders may look at those highs and look for more of a diagonal break of this pullback in the context of a swing trade we're generally looking for examples uh if we're doing a bullish trend where prices are making higher highs and higher lows now some of you if you do struggle on identifying some of those highs and lows uh just come up to the patterns tool over on the upper right select show patterns and then go to select patterns and those you that follow regularly and also those you that may catch me on the technical analysis virtual workshop probably know what i'm talking about uh one goes to under available patterns under the candlesticks go ahead and look for williams fractal now they're in alphabetical order you can scroll all the way down to find that or you can start typing it in will williams fractal i'm going to go ahead and double-click and add that again part of the candlestick patterns on your chart patterns tool and make sure those patterns are checked and select patterns if you struggle you know to identify some of the highs and lows and you know with the default settings uh you can see these little carrots representing some highs and lows and you know up until going in the end of the year you know that trend uh still intact on the upside but with the breakdown yesterday uh seeing examples of potentially more equal lows which you know can push uh this trend more into at least a very least more of a neutral or sideways whereas a break below the low uh would be a change in the shorter term trend and from some of the swing trader perspectives uh would be more of a you know neutral to downward trend or more of a correction that's what we got going on with the small caps uh let's look at the nasdaq uh ndx you know a similar situation on the ndx uh as well as that that we saw uh with the um uh with the s p you know price action making you know higher highs and higher lows and even though that this low is higher uh then from before christmas you'll notice it did break that trend so the question mark is seeing if you know price action is able to reverse kind of being more of a a pearson line and go ahead and reclaim the trend all right and finally with the dow looking at dj x now notice you know we were just looking at the small caps previously uh and identifying potentially more of the neutral trend notice the dow has actually been kind of more uh in that neutral band for a good part of december uh did break out as we came into the end of the year you know successful swing making a higher high but taking back a lot of those gains briefly uh yesterday and kind of back in that range now as far as with the dow the dow is still trying to push or stay out of that range which may be bullish uh for some of those larger cap stocks now with maybe some of the driver you know as we look at the returns at the opening again dow s p up about a half a percent uh let's see to have the russell in there i'm missing the russell go ahead and sort by alphabetical order here so it doesn't seem to be sticking out yeah russell up about a percent and volatility dropping a little bit uh but still kind of expanded now from a top-down approach looking at the sectors uh one can go to the public list and bring up uh s p 500 sector indices uh you'll notice when you watch some of my sessions uh i typically may have a few of these uh set up over uh on the on the left hand side and we actually reviewed this yesterday in the breakout and reversal patterns uh with the market being down a couple areas that were relatively stronger and can actually see that reflective today uh is energy and materials uh along with industrials in there so kind of helping the the dow kind of be more in the higher range we look at some of the laggards that's in consumer staples health care some of the defensive industries even some of the interest rate sensitive industries took more of a hit yesterday and actually have gone negative over the last month so that can be a bit of a driver when one looks at relative strength and looking for momentum in certain areas of the market which can be helpful for a swing trade uh again you're welcome to look at the archive uh for breakdown reversals and you can use the same techniques for swing trades uh two examples that we did yesterday uh was um let's see we had uh uh federal express which had break and below support we did an example of a bearish trade actually a uh a bearer put spread i discuss those on thursdays same day as cameron does his session at the market open uh i do that session at around 3 p.m eastern time price break-in out of potential top and pattern however uh still looks like trying to go positive as with the lift in the market but relatively not going up as much still negative and on the bullish side uh incorporating some of the top-down analysis as far as sectors uh was uh uh aem anglico eagle mines which actually gapped at the open here looks like kind of faded back testing the breakout uh to the upside uh that we did yesterday what traders may do is in the case of a swing trade uh may go ahead and measure some of those previous moves and you know target uh that similar move you know for instance in this case you know if one was looking at more of the reversal may look to go ahead and target a similar move you know to the upside in this case maybe going back and testing some previous highs that may be in the trend all right so kind of a view on the market uh keep in mind there is a runoff election which uh market participants uh have attributed uh some of the volatility to that we're seeing in the market uh you know are we gonna have uh a uh uh you know one party in control of uh the presidency and both houses or you know which will uh help with passage of uh legislation uh or uh you know will there be uh split uh between the uh senate and the house and uh you know more um uh what's the right word for that uh uh gosh can't even think the right word you have to keep in mind i was up at about three o'clock in the morning taking my son to the airport uh going back to fort jackson to finish his army training so i didn't get my full level of caffeine gridlock there you go i know if i talked long enough it would happen uh or there would be more gridlock which you know some people are happy with that as well uh as far as uh you know how much the government's involved so we'll see uh what happens but the markets are trying to price that in and possibly uh you know uh with potential infrastructure uh if uh if the democrats are fully in charge uh may be able to easier to pass some of those moves which may benefit energy and materials also you know with uh interest rates if interest rates are rising may have a tendency of benefiting commodity areas of the market so a lot of that strength has been a bit reflected here uh over the last few days uh we'll see if that continues all right and we're getting some greetings from former uh residents of uh fort jackson or where some of their family members may be outstanding okay so uh there's overview on the market for you hopefully you found that helpful now let's go ahead and talk about uh some of the stops so those you have been following along you know we've had a theme uh over the last several weeks a lot of people have inquired about stops now previously we have done orders where we've had conditional orders where you know we would go ahead and based off of an entry may set a target where we perceive price may go based off of a previous swing then we may go ahead and set a stop uh based off of uh risk you know setting it a percent below uh the low of the day um and then manually adjust stops accordingly or just uh you know see which way price hits first you know does it hit your target or does it hit your stop we've utilized some of the indicators such as atr trail and stop and the parabolic sar where as the price moves in that in a positive direction the stop would trail by that indicator and then if price would to come back down we would be stopped out of the trade so if the momentum continues you know one can still stay in the trade but once that momentum comes out would potentially stop out now another stop we'll talk about today is the trailing or not a trail stop but a time stop what if you don't have a desired outcome but you don't necessarily get stopped out right away is there a point in time where one may want to just get out of the trade and redeploy the capital into another trade where there's some momentum so we'll go ahead and do that as well so first let's go ahead and take a look on uh two of our examples i'm going to go ahead and bring up glw jlw which i believe was uh corning let me go ahead and pull this off to the side here so we can see this and you know a couple of things and one that i i notice after the fact um you know when i go through and i uh create some of these orders and they go back and replace or or change something around sometimes the parameters reset or maybe an overlook on my site now one thing to keep in mind as far as with stop orders we would typically use gtc for good till cancel which means we want that order to continue to work until to continue to work until the condition is met this is why we also want to look at confirm and send and even after you send it go back and take a look at your open orders to see if what you did was correct um and i didn't notice until after the fact uh in fact it was almost a week later uh the hat uh i didn't have a gtc so i had to go ahead and put that order uh back in and it actually filled on the fourth which was yesterday so we'll take a closer look at that so this was an example where we had a trail and stop and if you look at your order history and you see a gear that will show that you actually had a condition in there so if i click on for instance for this example we can go ahead and take a look this was based off of a study and so we were utilizing studies over the last two weeks if i click on the gear for that study you'll see this was an example of utilizing an atr trail and stop with a factor of one and a half one and a half times the atr now for those of you that may be new to this session uh welcome uh welcome for uh taking that step to uh improving your understanding of the markets as well as in this case on active trading and and the power of the platform uh for a reference point for those of you if you did not see uh these previous sessions uh is on the education tab uh whether through the td ameritrade website or on the thinkorswim platform go to education and select those webcasts and some of the webcasts i made reference to that are live you know one can go to the upcoming webcasts to see what's in stock for the day such as james boyd at the top of the next hour is going to be doing using options as a stock investor one can go to the webcast calendar and seeing what are some of the sessions coming up later in the week as i mentioned cameron may with selecting an option strategy and with my examples on spread trades that i've done in this class at times long verticals and diagonals at 3 p.m eastern now if you want to look at past sessions right in the middle archive sessions and you can even look by instructor so under archive and john mcnichol you can see the classes that i teach with this class being swing trading days to weeks you can look down the list there's the one on parabolic sar that we did last week and we'll look at that example and from the previous week utilizing atr trailing stop which we did on the example with glw today and you can probably see the mistake that i made as far as not changing that uh to gtc all right so with that looking at the chart and we'll bring up glw and uh you know under the studies i don't have the indicator on the chart right now but if i go to studies and edit studies this is where we can go ahead and add that you can again start typing in the indicator atr and you can see the atr indicator and some other variations of that here's the atr trailing stop double click to add that and as far as with the settings the settings that we had tweaked was instead of having the three and a half times the atr value we did a one and a half so we want to make sure 1.5

add it to how we had set it up click ok and apply here as we go ahead and take a look at this you know here is the uh the atr trailing stop which actually plots so i get my drawing tools working a little bit here which actually would plot little dots there where that stop would be or potentially be if the price is trending higher it should rise at some point now notice the atr trail and stop is a little more static it kind of stair steps a little bit uh as we explained uh and when the trend changes or when the price breaks below uh then the stop should trail above now notice in this case uh price had pretty much held uh over the trade we had the bounce but not much follow through and then on the 29th uh the price went ahead and crossed below uh that atr that was the trigger when price crosses below the atr to exit that trade and notice that went ahead and did that and that was a desired outcome from the standpoint that you know price continued to go down so therefore mission accomplished as far as with that example of that trail and stop go ahead and bring that up again and to kind of show you uh you know the example of that uh when one i'm gonna right click and one can right click if you go back you know under account statement uh you can type in a symbol that you may have traded before or placed an order you can go back a certain number of days if i was to go ahead and right click on actually the order that was filled and create a duplicate order this is where you can actually see how that order was constructed which was again a market gtc when i made the correction under the gear now the gear will not appear until you put your mouse pointer on top of it when you're actually setting up the order notice it's showing here because we already have a condition on there if i click on that you can see what that condition was by clicking on the gear here again it was the atr trail and stop one and a half and if you wanted to uh you'll modify uh that one can click on the study and go down to study and select edit and this was how the condition was created close crosses below atr trail and stop with a factor of one and a half when one's starting from scratch you would have to click add condition and again what we had done here was price and we had utilized the close although some traders may possibly play around the bid and ask we did cross below and we utilize that study atr i believe i modified it down to five although one can play with different periods uh we opt i believe opted for a shorter period with when one bar is fine and as far up i did the wrong one it's not atr it's atr trail and stop there we go and it is a default to five and the atr factor of 1.5 as what we utilize to make it more of a tighter stop now those of you if you go back and look at the uh that webcast uh if one was looking more for an intermediate to longer term trade they may have a a factor that's higher maybe two times or even three times uh the atr if maybe they're trying to trade more of the trend versus in this case more of a shorter term move and cameron thanks for sharing about with atr atr stands for average true range and you'll learn that uh in that segment we're basically these daily price ranges the difference between the highs and the lows that's the r value or the range the atr kind of takes a variation of those daily ranges and averages out those expected moves so we did have a again that triggered fine for that example now the other stop we talked about was a parabolic sar and uh for our example on that i'll bring up uh ch kp uh for uh checkpoint and so you know right now the atr is on there and again you can notice on on how you know it's a little more static here on how it adjusts whereas the other indicator if you look at last week's session i'm going to go back to edit studies i'm going to remove the atr trail and stop i'm going to bring up the parabolic sar parabolic sar sar stands for stop and reverse this is developed by wells wilder as kind of a you know a trade-in method on setting stops uh and possibly being in the market at all times that's not necessarily how we're utilizing it here we utilize it as a way uh to define some stops now end up i'm going to apply the default settings to this uh and notice on how on this indicator uh it's a little more dynamic it seems to you know will always rise uh as the price is generally flat to rising and then when the price breaks down it should reverse and trail above the price as the price goes down now if we go back and look at the trade example for this this was an example of a breakout trade and try and capture the swing now notice in the existing settings uh price actually would have pulled back considerably taking back a lot of those gains versus getting out as soon as price reverses off of those highs which a swing trader is typically looking to do usually as far as more discretionary one may be looking to exit the swing as price trades or breaks below the low of the high day kind of more of that bearish candle reversal uh yep you can see i do have a 55 day moving average uh thanks for the reference there phil representing that trend now if i go back and uh go back on the exact order that we did for checkpoint so again we'll go back and bring up chkp and i also did a tweak on this one as well and that's something i'm going to share with you too so when we originally uh had placed the order did an example of an uh of an oco where we basically add place the order and we put an initial stop and that's a consideration that one may do is set an initial hard stop and then instead of setting a limit order for a target uh possibly utilizing a trail and stop and that's what we did uh in the case of uh checkpoint uh where uh if i go ahead and click on the gear for this uh this condition again was another study if i click i originally did an atr trailing stop and then during the course of the session we had changed this to a parabolic sar which i believe was the next order that was done right here i'll click on the gear and we went ahead and set a parabolic sar in this case the example was close crosses below parabolic sar and this was a factor acceleration factor of one which we made it more sensitive and we made the limit uh of three so i'm going to go back and change that on the chart as you can see what the visualization would be let's go ahead and hit that so i'm going back to the chart again i'm going to go ahead and we're going to edit that indicator so we can go to the beaker on the chart and if i go ahead and click on the gear i believe i made this a point try that again if i made this a point one try and get my mouse to work and the acceleration limit of 3 click ok and apply and so you can see now on how on this example it kind of tightens up uh this example okay now i was actually looking at this uh when it was happened and you know here uh it's kind of hard to see the value on the 29th uh the price did touch that area but it was pretty close to the close and i'm not sure on how that may have triggered or not but it didn't trigger until the next day so i kind of thought about the conditions that were set on that so would the condition be crossing below or maybe make the statement if the price is below the atr and that would actually help settle which was a question previously is you know well what if uh the atr changes or indicates the parabolic changes before the price actually stops well if i say uh in a statement on the condition if i say that well if price or the close is below that indicator whether it's on this day or on this period both of those statements would be true so whether it happens going into the close on that day if it happens pretty close to the close or it should happen pretty shortly after the open and so that's actually what i did going into the close when i was kind of observing these orders so i'm going to go back to that monitor tab and right here uh on the i did another cancel and replace and you know all i did was basically right click and canceled and replaced the existing order and then went ahead and modified the settings and so on this order that was actually filled the condition was is less than or equal to so instead of saying cross and below another statement that one can possibly use and this may be potentially more effective is close is less than that indicator and that would basically be the same statement whether it crosses below or less than it would be a true statement and so again there's that factor there for that and so this may be uh something that we may continue to do in the swing trading class uh on doing stops i may mix between some standard conditional orders or standard bracket orders but also continue integrating some of these indicators uh into our discussion and so this one did go ahead and actually filled uh if i look at the trades went ahead and filled pretty shortly after the market open on the 31st and that was since it was true that the price was below that atr and notice uh kind of lines up in this example although not all of them will line up but kind of lines up with that candle bearish candle reversal and so we're able to lock into gains as the price did pull back over the last few days so you know kind of some of the demonstrating some of the power of the platform and you know with me being instructor and have a lot of things going on in life too and doing a lot of trades to illustrate practice trades to illustrate these concepts you know sometimes it could be a bear to keep track of all of them and adjusting things manually now there's pros and cons as i talked about in some of these previous sessions on whether manually adjusting stops as they reach objectives or wait till it reaches initial initial objective because there can be whip saws one may be stopped out a lot sooner now with the example the parabolic sar is kind of designed to tighten up as that trend strengthens up or as that swing strength strengthens up it's a little more dynamic than our atr example and certainly worked very well for that checkpoint example okay now let's go ahead and talk about uh time stops so you know when one does a an example of a short-term trade or or any trade you know you have may have a desired outcome you believe the stock may go up to a certain level and then hopefully close it out at a desired gain if it doesn't happen then price may potentially stop you out but there may be times where price may just kind of continue going in that range and this can be a downfall for those of you that may be trading options we've done examples of option trades where uh you know time decays and if the price is not moving one would be losing uh the value of that option now one can certainly set a stop on the option if it loses a certain amount of value but another thing we can do is we can actually place a condition that hey if the stock doesn't do this or do this close it out and we can set a time for that to happen so we're going to finish off with that and this is another type of order we may consider in our practice trades to continue integrating as we make some new year's resolutions to improve what we do so uh for that example uh i'm gonna bring up ibm uh ibm was uh ticking up a little bit in the uh pre-market and uh this can also be a good illustration when you have something like earnings that may be coming up some swing traders may not be willing to trade through earnings uh now what i'm going to do is i'm going to do an example of a um a buy stop uh with an option if the price breaks out uh looking to capture a trade with ibm so i'm going to go ahead and go to the trade tab and we'll go out about 45 days and this does go beyond earnings and i'll also go ahead and let's say for an example for simplicity i'll do an example of an option that is uh slightly a little more uh in the money uh we'll do the 120 strike and you know there's a little bit of a spread here but uh ideally probably like to see that spread to be a bit small and this would be a concern if one is utilizing market orders for the options we'd like to see those spreads to be uh a bit tighter uh within about 10 percent of the ask price uh now in this example it does do that and actually in this example uh it's within about 85 cents but probably a little bit wide uh you know for a stock like ibm now i'm gonna go ahead and uh right click and i'm gonna do a uh let's do it on this one like you know what i'm gonna i'm gonna do it on the on the at the money uh we'll exchange uh some uh intrinsic value uh for some time so we get a favorable move and you know this can be you know good illustration as far as time decay uh as we do this order so i'm gonna do a a buy custom with oco bracket and we'll go ahead and do a condition if the price goes ahead and breaks above let's say it goes above the high of the day which is going above the high of yesterday highs 125 of yesterday is 125.92 so if we do about 20 cents above that that would be 126 12. so i'm going to make this a market gtc now some traders can go ahead and do a a limit order the most are willing to pay for that option but you'd have to price out the option we'll press for time today so i'm going to do a market for our example brings up the condition and we'll say if ibm its mark or its last price is greater than or equal to and i believe i said uh that would be uh did i say on that 126 12. go ahead and plug in 126 12. make sure that sticks like it did sometimes it gets a little truncated here since uh i have a bigger display i think i got 126 12 in there uh we'll click save we'll confirm that and then what we can do is uh on the uh exits we'll also make these market gtc kind of tied to another condition uh in the case of uh ibm i'm going to go ahead and uh just put in a a default example of kind of like a bracket order and i'm going to adjust this but again in expanse of time uh let's say i'm going to put in a a target uh of about um five dollars above the breakout point that would be putting us at about 131 based off of some of the size of the previous moves and then on the stop i'll put the initial stop about three percent now i'm not going to do a trail and stop in this example we may adjust it later but let's say we do three percent below that breakout point of about 126.

so here's the order right here is actually on the other screen so here we go we got the mark uh greater than or equal to our target price i'm going to put 131 and then the potential stop would be less than where the breakout point was i'm just going to go ahead and put in 1 23 which would be about three dollars it's a little more than about two percent below that breakout point so i basically have a bracket order that's embedded inside uh this particular order so if the price goes ahead and trades higher it would go ahead and close out that option if the price breaks down by about three percent uh it'll go ahead and close out that order but what if it doesn't meet any of those conditions and let's say it doesn't do that before this earnings event this is where we can do a time stop and then as far as that's concerned we can set a time to close out this order before earnings now earnings are going to be at on the 21st of january and it's going to be after the market close after market so i'm going to do is on this second order we already have our conditions on the first sell order which is kind of a bracket i'm going to go ahead and click on this second bracket order and i'm going to put submit at a certain time and this is where the time stop can come into play you determine okay what day do you want to close out this order if those other conditions aren't met and so let's say we do 121 and i'm in mountain time so i can go ahead and place this before the market closes uh let's say the 13 30 that'd be a half hour before market closes and then as far as the price i can say and submit when at least one of the condition follows i can just say that hey if ibm is greater than or equal to zero because i'm about 99.9 positive it will be that would be the condition so basically what will happen is this order will be submitted on 121 if that other order that we have is not filled and it would go ahead and basically close out the trade at whatever the market price is and cancel the other order so let's do a confirm and send i do apologize i am going a little over today uh we're gonna do this again uh next week we're gonna continue integrating uh trailing stops as well as time stops when we do some of these option trades so marie don't be shy come on back and we'll continue to do this so here's the condition to buy ibm if it trades above that breakout point 126 112 and it's going to buy the option at the market now again we're doing this for illustrator purposes we don't have control of what the price is if the price does gap we may be paying more for the option than we'd like again if you look at previous sessions we have gone over limit orders uh if that's triggered it's going to trigger this bracket order where it will sell this option if the stock goes at or above 131 which would be a potential target or if it goes below 123 which would be theoretically an example of an initial stop again no guarantee it would fill at a desired price now if none of these conditions hit on the 21st if none of these conditions hit on the 21st at 13 30 this order is going to be submitted it will close the option at the market and it will cancel out this other order so what we've done here is basically plan a trade for a desired outcome an initial stop and if neither of those occur an example of a time stop which can be very helpful uh for option traders and uh kind of limit some of that time decay keep in mind there are commissions with that so i'm going to go ahead and we'll send this through and we'll see if that goes ahead and fills go into monitor activity and positions and there's that order and again gtc so we'll see if that fills if the price breaks higher all right now we covered a lot of ground today folks but hopefully you found this time well spent i do notice there is a survey uh on the chat uh so uh cameron if you can send that again it's only five questions would appreciate your feedback uh as we look at those comments all the time and uh if you follow us each and every week you can kind of see our theme on swing trading as we take advantage of some of these shorter term trades and illustrate the power of the thinkorswim platform so we can maybe automate or kind of control some of these processes so thank you so much for that folks uh go ahead and practice what you learned here today and remember in order to demonstrate the functionality of the platform we had to use actual symbols keeping in mind td ameritrade does not make recommendations or determine suitability of any security or strategy through the use of our tools any investment decision you make in your self-directed account is totally your responsibility so we'll let you go for today folks uh coming up next james boyd with trading options so stick around bye now you

2021-01-08 19:31

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